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Articles tagged with: Mortgage Bankers Association of Arkansas

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[29 Jan 2012 | No Comment | 1,824 views]
Is ‘certainty’ the missing ingredient in mortgage reform?

Since the subprime lending market collapsed around 2007, mortgage reform has been a popular topic in the federal government.
When it comes down to it, the real estate industry in general has become an issue of much discussion in Washington, D.C. The high number of foreclosures has been a concern and the same goes for falling home prices. Furthermore, there has been an emphasis on risk – the notion that lenders ought to write mortgages for people who are likely to live up to the obligations under the loans.
It is a …

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[7 Jan 2012 | One Comment | 1,573 views]
Looking back on 2011

In hindsight, it’s clear that 2011 was decidedly mixed in terms of housing markets around the nation.
Freddie Mac – the government sponsored lending giant – projected that lenders would write $1.8 trillion in home loans last year. The group revised that estimate downward to $1 trillion partway through the year and lenders ultimately wrote $1.3 trillion in home loans in 2011.
That’s down 23.53 percent from $1.7 trillion in 2010 and down 60.61 percent from $3.3 trillion when housing markets peaked in 2005. Furthermore, the better-than-expected results had a lot to …

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[10 Dec 2011 | 2 Comments | 7,695 views]
HARP 2 launches, Better Business Bureau warns of scams

It seems whenever a new government program is launched with the goal of helping consumers, scammers show up and start working to rip off people who are looking for financial relief.
For awhile, we had to endure a bunch of Internet chatter from scam artists promising to tap into stimulus money from the government and offer “personal bailouts” to consumers (for a fee, of course). We’ve seen bogus credit counseling schemes, mortgage refinancing scams and, well, just a number of things floated out there people wanting to take consumers’ hard earned …

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[25 Sep 2011 | 2 Comments | 2,063 views]
Confused yet?

Trying to keep up with the changes that may be on the horizon in the mortgage industry can be either confusing or frustrating (or, perhaps, both) as there are a lot of proposals out there on how to prevent a similar set of circumstances that gave rise to the rash of foreclosures that started popping up in 2007.
Fortunately, there are at least two things upon which the groups coming up with proposals appear to agree – a record number of foreclosures is bad and those people who take out mortgages …

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[10 Aug 2011 | No Comment | 1,398 views]
Bubble economy?

Federal Reserve Bank of St. Louis President James Bullard said he expects to see the national economy improve through the second half of the year.
While it’s not terribly unusual to see some economists and government officials to call for improved economic health regardless of how things are going, Bullard had a unique take on the national economy. He said one can, in essence, think to the economic strife that has plagued the nation these past couple of years as being created by a “bubble economy” that deviated substantially from the …

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[9 Jul 2011 | One Comment | 2,385 views]
Keep an eye on that credit

It’s no secret – getting a mortgage these days is a bit tougher than it was in the not too distant past.
We should all be aware of the reasons for tighter lending requirements by now – relaxed standards led to a number of risky, subprime mortgages hitting the market resulting in a slew of foreclosures. The response to those foreclosures involved a number of reforms generated by both the financial industry and the government.
The end result, of course, is that good credit is as important now as it ever has …

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[8 Jun 2011 | 3 Comments | 3,310 views]
20 percent down?

With all the mortgage reform news flying around these days, it can be difficult to keep up with the latest developments.
There is, however, one issue of which consumers need to be very aware – a proposal from federal regulators mandating that private lenders require a 20 percent down payment on mortgages for all but the most credit worthy borrowers. Think about that for a minute – unless a consumer has an impeccable credit score, he or she could be looking at coming up with a lot of money to purchase …

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[14 May 2011 | One Comment | 2,300 views]
Sometimes it’s good to not be in the top 10

While Arkansans do and should love the attention that comes with placing near the top in a slew of highly-visible national lists, there’s one on which the Natural State doesn’t appear and thank goodness – top 10 states for mortgage fraud.
The LexisNexis Mortgage Asset Research Institute released its 13th Periodic Mortgage Case Fraud Report this month. The state that tops that list is Florida, which has ranked first for reported incidents of mortgage fraud since 2006. Florida was followed on the dubious list by New York, California, New Jersey, Maryland, …

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[1 May 2011 | One Comment | 5,841 views]
Commercial originations up in 2010

The residential real estate market was still in recovery mode last year, but the national Mortgage Bankers Association reports that commercial real estate showed signs of improvement in 2010.
Actually, commercial markets improved quite a bit, according to the Association. In 2010, bankers reported $118.8 billion in closed commercial loans – up 44 percent from 2009. Multifamily accounted for the largest volume at $48.9 billion while offices were the next highest at $22.6 billion in originations.
In short, it appears there is a significant increase in demand for apartments. That should come …

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[24 Apr 2011 | One Comment | 7,792 views]
Act 885 — help for homeowners in default

So many bills came through the most recent Arkansas legislative session that a few important ones were somewhat overlooked.
One of those is Act 885, a bill that was introduced by State Rep. Tiffany Rogers (D-Stuttgart) and was signed into law by Gov. Mike Beebe at the end of March. What is that law? Simply put, it requires mortgage companies to provide a copy of the note and mortgage to people going through foreclosure.
That might sound like a minor bill, but it assures an essential right. Last year, of course, a …