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April 19, 2014, 05:34:25 PM

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Author Topic: Housing/Mortgage/Real Estate  (Read 33184 times)
G M
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Posts: 11489


« Reply #450 on: April 02, 2014, 10:59:54 PM »

LOL!



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ppulatie
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Posts: 135


« Reply #451 on: April 03, 2014, 07:29:51 PM »

Several reasons they are down all over:

1.  Increased values allow for selling before foreclosure.

2.  Automatic GSE mod approvals for loans that are from 90 days to 270 days late.

3. Private Label MBS is down to about 25% of volume in 2007.  Those loans left tend to be stronger borrowers.

4. Adjustable Rate loans have defacto modifications, thanks to the low interest rates.  Current rates are about 2.75% to 3.25% in most cases.

5. GSE new loan originations have since 2009 been to very strong borrowers.  Default rate is .0025% for those loans.

6. HARP refinances of negative equity loans reduced rates to 3.5% and saved borrowers hundreds per month. 

7. Low income and poor credit borrowers, i.e. Community Reinvestment Act loans, have been greatly reduced, hence less foreclosures.

Watch out for FHA though. It is going to get real messy soon.
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PPulatie
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