Hojin’s Southwest Orlando Real Estate Scoop

I’m sure you’ve heard that the government is taking over Fannie Mae and Freddie Mac. We all learned during the Great Depression of how much the stability of financial markets affects us all, so I can see why they decided to step in. I just can’t help but be a little ticked off that we’re [...]

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Paul Bishop, economist for the National Association of Realtors, was recently interviewed by the Wall Street Journal about the impact of the housing bill just signed by President Bush and appeared pretty positive in the interview. He says the new bill will bring stability to Fannie Mae and Freddie Mac which is quite important in [...]

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A Guest Post From The Florida Upfront Mortgage Broker With all the negative hoopla about the real estate industry lately, a segment that is still very active is the Foreign National portion. A Foreign National is someone who is not a U.S. Citizen and does not have a “Green” card. Currently, Foreign Nationals are enjoying [...]

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I found this sassy little video about credit scores on Colleen Kulikowski’s Celebration Blog. It reminded me that the Fair Isaac Corporation will role out new rules dubbed FICO 08 in the next few months. The new rules are supposedly going to help lenders reduce defaults by 5% to 15%. It will go easier on [...]

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Dan Green who authors The Mortgage Reports has created an informative video explaining changes in mortgage guidelines for dummies or just people who do not actively participate in real estate on a daily basis. Thanks to Drew from Geek Estate for the find. null

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Attorney Max Gardner who runs the Bankruptcy Boot Camp, a training ground for attorneys on spotting loan servicing fraud, was quoted recently on ABC’s Nightline as saying that it’s a common practice for loan service companies to charge illegal hidden fees so benign that most never even notice them. He enlists the aid of specialized [...]

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New York and state attorney Andrew Cuomo is suing First American Corporation, the nation’s largest provider of business information and largest title company, for caving into demands from Washington Mutual to raise appraisal prices so that they could close loans at a desired price. State Attorney Cuomo stated that “The blatant actions of First American [...]

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PMI, commonly referred to as mortgage insurance, is required by a lender when a borrower does not have 20% to put down on a mortgage. On the one hand it allows consumers to buy properties without such a large sum of money but on the other hand it is a total waste. Consumers have been [...]

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The Swiss banking giant, UBS, reported today that they will be taking a loss in third quarter of this year for $3.4 billion because of its exposure to the sub prime crisis. It will be the first loss in 9 years. The $3.4 billion loss is larger than we’ve seen so far from banks in [...]

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After getting a $11.5 billion line of credit from Bank of America, Countrywide announced it will layoff 12,000 employees which is 20% of their workforce. They then announced it will be giving Bank of America a minority stake in the company for another $2 billion dollar cash infusion. Up until this time, Countrywide had been [...]

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