Tell us what you need, and we'll search our database to find trusted lenders who'll compete for your business.

--Or--


Check out for yourself the latest rates, monthly payments, and loan products lenders are offering.

Treasury Reform Blueprint Online

Peter G. Miller
March 31st, 2008

read more

  •  | 
  • stumbleupon
  •  | 

 

Bulletin — HUD Secretary To Step Down

Peter G. Miller
March 31st, 2008

The following release has just been distributed by HUD

JACKSON TO STEP DOWN AS HUD SECRETARY

WASHINGTON - U.S. Housing and Urban Development Secretary Alphonso Jackson announced today he will be stepping down as the nation’s chief housing officer. Jackson will conclude his government service as the nation’s 13th HUD Secretary on read more

  •  | 
  • stumbleupon
  •  | 

 

How Washington Works

Peter G. Miller
March 31st, 2008

For the past few days rumors of a new plan to regulate Wall Street have been referenced in Washington. The way this really works is that the 22-page document can discussed but not fully revealed or published. If the public reaction is good, then the Administration (all Administrations do this) makes a formal announcement and read more

  •  | 
  • stumbleupon
  •  | 

 

New Cramdown At FHA?

Peter G. Miller
March 30th, 2008

As of Saturday morning it’s being widely reported that the Bush Administration is about to launch a new initiative to halt the massive wave of foreclosures being faced nationwide.

“The proposal,” says The Washington Post, ”is aimed at assisting borrowers who owe their read more

  •  | 
  • stumbleupon
  •  | 

 

Big Fix, Little Fix, No Fix

Peter G. Miller
March 27th, 2008

I read a speech today by Federal Reserve Governor Randall S. Kroszner and it, er, raised a few questions….

“As of January 2008, the most recent month for which data are available, about 24 percent of subprime adjustable-rate mortgages (ARMs) were ninety or more days read more

  •  | 
  • stumbleupon
  •  | 

 

Appraising the FHA — and the Mortgage Marketplace

Jeffrey Hogue
March 25th, 2008

We all know that practically all lenders require a prospective borrower to obtain an appraisal before that lender will lend money. The reason for this is relatively obvious: the lender wants assurances regarding a property’s value in the event that the borrower defaults on the loan and the lender gets stuck with the property. read more

  •  | 
  • stumbleupon
  •  | 

 

Is New Paperwork Better — Or Worse?

Peter G. Miller
March 24th, 2008

We mentioned the new efforts by HUD to update the disclosure and closing documents used in real estate. I see it as a generally good idea, Barbara offers an alternative view: “I firmly believe RESPA reform is necessary however, adding still more paper to the 60 some odd read more

  •  | 
  • stumbleupon
  •  | 

 

Foreclosure Prevention Efforts Slow

Peter G. Miller
March 23rd, 2008

According to a new study lender efforts to limit foreclosures have actually declined.

Published by the California Reinvestment Coalition, an alliance of 250 nonprofit organizations and public agencies across the state, the study looked at the issue of whether aid for distressed homeowners was increasing or not. Comparing results with a similar report done law August, read more

  •  | 
  • stumbleupon
  •  | 

 

Can We Have Negative Interest Rates?

Peter G. Miller
March 20th, 2008

Since August the Federal Reserve has reduced the discount rate and federal funds rate six times, going from 6 percent to 2.25 percent. These rate reductions impact short-term interest levels which helps those with home equity loans, but not long-term rates such as mortgages.

(Think about it — 30-year fixed-rate loans were at 6.13 plus .5 points last week read more

  •  | 
  • stumbleupon
  •  | 

 

Should We Re-Call Defective Loans?

Peter G. Miller
March 19th, 2008

My column today on Realty Times raises the idea that perhaps we need a toxic mortgage re-call.

Why not? A mortgage is simply a financial product. When manufacturers ship out products which endanger the public welfare we demand that they be re-called. As the column says:

“The reason millions of people are facing foreclosure today read more

  •  | 
  • stumbleupon
  •  | 

 

Are Smaller Lenders A Disappearing Species?

Jeffrey Hogue
March 18th, 2008

We all know by now that Bank of America has said that it intends to acquire Countrywide. What you may not have known is that a greater number of larger banks and lenders are acquiring smaller struggling lenders. Many believe that this is a sign that big banks are preparing to make efforts to soften read more

  •  | 
  • stumbleupon
  •  | 

 

The Greed Train Derails

Peter G. Miller
March 17th, 2008

It seems since last August when the Fed began lowering short-term rates that every week or two has brought about another crisis in the financial world. The concerns have been about mortgages, but more significantly they have been about mortgage-backed securities and the way they have been packaged, sold, insured and valued.

Is there are read more

  •  | 
  • stumbleupon
  •  | 

 

HUD Proposes Huge Reforms, Billions In Consumer Savings

Peter G. Miller
March 16th, 2008

On Friday, HUD introduced a new proposal to substantially upgrade and improve the closing and settlement process. The new rules — which are subject to a 60-day comment period and then further revisions — are designed to update the Real Estate Settlement and Procedures Act of 1974.

This is an enormously important effort and reform has read more

  •  | 
  • stumbleupon
  •  | 

 

Rep. Frank Proposes Major FHA Changes

Peter G. Miller
March 14th, 2008

Rep. Barney Frank (D-MA), chairman of the House Financial Services Committee, is now circulating a proposal entitled the “FHA Housing Stabilization & Homeownership Retention Act.” While just a discussion draft at this stage, the proposal would significantly modify the FHA mortgage program. In particular, the proposal would allow HUD to refinance “at-risk” borrowers, essentially delinquent conventional read more

  •  | 
  • stumbleupon
  •  | 

 

Foreclosure Numbers Continue To Soar

Peter G. Miller
March 13th, 2008

News on the foreclosure front continues to be woeful. Figures from RealtyTrac.com show that not only do foreclosure problems continue, they are significantly worse than a year ago.

Figures from RealtyTrac show that “foreclosure filings — default notices, auction sale notices and bank repossessions — were reported read more

  •  | 
  • stumbleupon
  •  |