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Mortgage Delinquencies Turn a Corner

HOUSING REAL ESTATE REALTY NEWS MORTGAGES MORTGAGE DELINQUENCIES HOUSING CRISIS

Fewer Americans are falling behind on their mortgage payments; in fact, the fewest in two years. Mortgages just one payment past due (30 days) fell to their lowest level since just before the recession began. Is it delays in paperwork from the so called "robo-signing" (faulty paperwork) foreclosure servicing scandal?

No. It's actual fundamentals in the economy and the mortgage market. Go figure. "As we got toward the end of 2010 we began to see another drop in weekly claims for unemployment insurance. I think that's a key driver of the short termdelinquencies," notes Jay Brinkmann, chief economist at the Mortgage Bankers Association.
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End of Fannie Mae

The End of Fannie Mae and Freddie Mac

The U.S. Treasury introduced its plans today to do away with troubled mortgage giants Fannie Mae and Freddie Mac in the coming years.
The two firms have been the primary driving force behind the expansion of American home ownership since Fannie was founded in 1938.
Today they provide a secondary market for 9 of 10 American mortgage loans, buying up the paper from issuing banks, packaging them and selling them to investors as guaranteed mortgage securities.
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Preferred Lenders

We have worked with these lenders in the past and their service is stellar and then understand the Real Estate market.

Wells Fargo
GM Funding
Chase Home Mortgage
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