Posts Tagged ‘Mortgage Rates’

According to Reuters, Taylor, Bean and Whitaker (TBW) has filled for bankruptcy protection under Chapter 11 of the bankruptcy code. If you ready a a previous post of mine, you will find that the company had been shut down by HUD after irregularities in their reporting procedures and concerns of fraud. Read More

With the demise of Taylor, Bean and Whitaker, many home owners are wondering what to do about their payment, me included. Since my mortgage was with TBW and the payment is due, I wanted to know what to do with it, since the website would no longer accept the payment and there was no way I would mail it to a defunct financial institution. Read More

Today, I attempt my first video update on what is happening in the Interest Rate Market and why. I am trying to explain the Mortgage Backed Securities Market and hopefully how it effects the Real Estate Market in the Eugene/Springfield Oregon area. (Unfortunately, it seems to be working like a Japanese horor film on the lip sync. Will work on that.)
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So, what do we do when attempting to refinance a property and all of a sudden the value of the property comes in significantly lower than we expected???? Case in point, I am doing a rate and term refinance for a previous customer that purchased their home two years ago (during the height of real estate values for about $400,000. To accomplish an 80% refinance, I only need it to come in at $325,000 but the actual value comes in at $315,000, a huge drop in value and a loan to value of over 82%. So, what do I do? I go to a Fannie Mae DU Plus. This is all part of the Making Homes Affordable Program through Fannie Mae and Freddie Mac. Read More

Here we are, well into a new year and an economy that leaves some things to be desired. Although I am seeing an increase in home purchases, especially for first time home buyers from the Realtors® that I work with, the decrease in home values is still troubling to say the least when working on refinance transactions for my past clients. In too many cases, the value of the property has gone down and getting a refinance done has been significantly harder. I have to think the reason the purchases are up has to do with low rates and the first time home buyer $8,000 tax credit. Read More

Interest rates continue to move up and down. The purchase of mortgage backed securities (MBS) has given stability to the mortgage market until today when we saw an across the board drop in prices in both stocks and bonds. The 10 year Treasury was especially hard hit, but MBS sales took a significant hit on today’s market too. Intraday repricing was the norm. Afternoon interest rates were nearly 1/2 percent higher than morning rates. Overall, another interesting day on the mortgage market. Read More