Mortgages 3 | Paper Source Online

Robert F. Kennedy Jr.: Use Gov’t Bonds to Help First-time Home Buyers

Mortgages, Residential / By W. J. Mencarow

Published by Breitbart News | September 4, 2023 Democratic presidential contender Robert F. Kennedy Jr. said this weekend that the government should assist first-time home buyers by offering them discounted 3 percent mortgages, financed by selling tax-free U.S. Treasury bonds. Kennedy described his policy during the Breitbart News Labor Day Special on SiriusXM Patriot 125 with host …

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Only a Tenth of Mortgages Have an Interest Rate Above Six Percent

Interest Rates, Mortgages, Residential / By W. J. Mencarow

Published by REALTOR.com | July 17, 2023 Mortgage rates are inches away from 7%—but less than a tenth of U.S. homeowners have a home loan at that rate. Only nine percent of all existing mortgages in the U.S. were taken out with a rate of above six percent, according to data from the Federal Housing …

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Regional Banks Scramble to Unload Commercial Real Estate Loans, Fearing New Crisis

Commercial Property, Economy, Mortgages / By W. J. Mencarow

Published by The Epoch Times | June 14, 2023 Analysts fear that CRE exposure could spark another round of bank failures The work-from-home trend has been taking its toll on office landlords and is now making its way through to banks’ commercial loan portfolios, leading some analysts to predict that more trauma could be on …

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Zombie “Second Mortgages” Haunt Unsuspecting Homeowners

Foreclosure, Mortgages, Residential / By W. J. Mencarow

Published by Find My Way Home A second mortgage included in bankruptcy can foreclose years after it has been discharged, and can cost you a lot of money! As an expert in helping homeowners and homebuyers qualify for home loans after a bankruptcy, foreclosure, short sale or deed in lieu, I talk to folks all over …

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Telegraph: Over 2,000 U.S. Banks are Insolvent

Economy, Mortgages / By W. J. Mencarow

Published by RT.com | May 6, 2023 The U.S. banking sector has recently been hit by a major crisis Almost half of the 4,800 banks in the U.S. are nearly insolvent, as they have burned through their capital buffers, The Telegraph reported earlier this week, citing a group of banking experts. According to Professor Amit …

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CFPB Issues Further Guidance on ‘Zombie Mortgages’

Legal, Mortgages / By W. J. Mencarow

Published by DS News | April 26, 2023 Debt collectors now attempting to collect on these zombie second mortgages may be in violation of the Fair Debt Collection Practices Act. The Consumer Financial Protection Bureau (CFPB) has issued guidance to protect consumers from illegal collection tactics on so called “zombie mortgages” due to the fact …

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Biden Rule Will Redistribute High-Risk Loan Costs to Homeowners With Good Credit

Mortgages, Residential / By W. J. Mencarow

Published by FOX News | April 19, 2023 Interest rates for mortgages have roughly doubled over the past year A Biden administration rule is set to take effect that will force good-credit home buyers to pay more for their mortgages to subsidize loans to higher-risk borrowers. Experts believe that borrowers with a credit score of about 680 …

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U.S. Has 3rd Lowest Percentage Of Households That Own Their Homes Without Mortgages

Mortgages, Residential / By W. J. Mencarow

Published by Forbes.com | March 31, 2023 A 2022 OECD study of 28 countries found the U.S. had the third lowest percentage of households that owned their homes “free and clear” with no mortgages, as “outright owners.” The U.S. is more of a mortgage-ownership society than a home-ownership society. A 2022 OECD (Organisation for Economic …

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Fannie Mae Rumored to be Looking at Forgoing Title Insurance

Mortgages / By W. J. Mencarow

Published by HousingWire | March 9, 2023 The GSE is reported to be looking at launching a pilot program that would grant certain lenders a waiver on title. The title insurance industry is often bemoaned for being antiquated and making minimal changes, but that has not been the case for the past 12 months. Nearly a year …

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Housing Market Slows Again As Hot Inflation Drives Up Mortgage Rates

Interest Rates, Mortgages, Residential / By W. J. Mencarow

Published by Forbes.com | February 17, 2023 This week’s inflation data has pushed mortgage rates to the highest level in months—already sidelining some potential home buyers. According to real estate brokerage Redfin, home buying demand, as measured by tour requests from prospective homebuyers, fell for the first time in more than a month last week …

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