The Lead Tree's Mortgage News Daily
We offer interesting and informative mortgage news daily. Mortgage market news and trends change daily, so it is our goal to report daily. If there is an article you would like to have reviewed or a topic you wish could be expounded upon, please let us know.
Find out the number one reason Why Businesses Fail.
Another 201o Government Stimuli?
The rising tide of foreclosures is putting enormous pressure on the U S government to lead a bailout of distressed mortgage holders.
However much they might oppose it on ideological grounds, the Bush administration and the Federal Reserve are inching closer toward a government rescue of distressed homeowners and mortgage lenders. by Deepa Sadhu
April 24th 2008: Money Merge Account Scam?
With the lending options running low many mortgage brokers have found a new product that can be offered to homeowners. Money Merge accounting otherwise known as MMA is becoming very popular these days amongst the American homeowner. The system actually started in Australia over 12 years ago but now Americans are on to it. MMA basically works by taking line of credit out on the house and put that money into an account to use as leverage to offset the banks' interest rates and it's ran by logging into a web based software program that helps to manage your budget as well as mange your mortgage payments. At a time when more Americans than ever are late on their mortgage or facing foreclosure, MMA seems like an oasis in the desert and this is why mortgage brokers want to become Money Merge Account Agents.
Other reports have suggested that within 5 years most mortgage brokers in America will be registered MMA agents and can offer the product as a means to save money on your mortgage even if refinancing is not an option. The Lead Tree launched 3 pilot programs earlier this month to test the waters of MMA lead generation. With several years of experience in generating mortgage leads and the use of our exclusive list for telemarketing all three pilots were a great success. It's not hard to find someone that wouldn't mind saving money on their mortgage or even paying it off in half the time. Where the trick lies is we shorten the sales process by taking out hours of cold calling and filtering out the MMA leads that just don't qualify. Effective telemarketing has streamlined the process by making sure all money merge account leads meet the vital criteria of 620 and above credit score and 80% and below ltv. Currently there are over 6,000 MMA agents nationwide but there are almost 200 million mortgages. If you are already a Mortgage professional, this could be for you.
Mortgage News Daily
April 14th 2008 Obama vs. McCain mortgage news daily
It's very important to carefully look at what presidential hopefuls say about mortgage policy. Pre poll promises don't always mean post poll performance but policies do give us insight into candidate's political souls.
This brings us to the question about presidential hopefuls Barrack Obama and John McCain's take on the current mortgage crisis which would say a lot about the kind of president each would be...
April 08 2008: Bush's Plan of Action
The Bush administration's moves over the past six months include expanding the Federal Housing Administration's ability to offer refinancing to homeowners with good credit, allowing Fannie Mae and Freddie Mac to buy up more home loans, and brokering help for struggling homeowners through a private-sector mortgage industry group. The group has agreed to offer a five-year rate freeze for people who have not missed payments or a 30-day foreclosure pause for those who fall behind.
President Bush urged people in trouble to call the group, which connects homeowners with centers like Nova debt, the one Bush visited but when he first announced the hotline in December; the president got the number wrong, twice. He later returned to the podium, and said "I got to get this right," and gave the correct number: 1-888-995-HOPE. Mortgage new daily.
There are some homeowners who have made responsible buying decisions and who could keep their homes with just little help. He said, We have a role to play at the government level, and that is to help lenders and borrowers work together to avoid foreclosure," he also said. "The housing market problems are complicated and there's no easy solution but... we will help responsible homeowners weather this difficult period."
I personally think that it is very unfortunate that so many people are in trouble with the housing issue, but the government should not bail out everyone who made poor or uninformed choices. People would simply overextend themselves again because there is little to no risk. Unfortunately I do not own my own house but perhaps this crisis (if it continues long enough) will allow me to enter the housing market, I did not buy because I could not afford it. There is no bail out for me. Federal government already has FHA/VA loans and there's plenty of sources for mortgage news daily to educate people about the risks foreclosure, which has already affected about 2.2 million homeowners
Mortgage News Daily
March 2008: The Changing Times
The US mortgage industry faces a tough and challenging environment. On the one hand, intense competition prevailing in the industry creates pressures on costs. On the other hand, the cyclical nature of the industry demands that players be prepared for emerging market opportunities.
January 2008: National Mortgage News Daily
Economic stimulus and foreclosure news.
Can Increasing the Loan Limit Help Deteriorating Home Sales?
Will the Economic Stimulus Band-Aid Work?
According to the National Association of Realtors, nearly 250,000 San Diego
County homes could benefit by a transient increase of the conforming loan limit
up to $729,750.
Bush's economic stimulus package, will most likely increase the conforming loan
limit from $417,000 in San Diego.
For San Diego homeowners, a refi could easily drop their annual payments by
more than $5,000 and substantially reduce the likelihood of foreclosure.
Rick Hoffman, president of Coldwell Banker Residential suggests that more San
Diegans will be able to buy homes this year. He states
I think the economic stimulus package is going to go a long way in helping the
consumer have confidence again.
He asserts that the stimulus package will greatly mollify the mortgage crisis
by allowing first-time buyers and those looking to upgrade the opportunity to
spend more.
Economic NoeSporin
According to Hoffman the economic stimulus package is the first step in
the healing process.
Further, he predicts refinancing interest will significantly increase in
reaction to an increase in the conforming loan limit .
San Diego is one of six markets to maximize its conforming loan limit to the
maximum amount outlined in the economic. .
According to mortgage broker Anne-Marie Boyer, the the difference in interest
rates between a jumbo loan or non-conforming loan and conforming loan is around
1 percent. This suggests that savings for borrowers will be huge.
In a $750,000 loan, reducing the interest rate from 6.75 percent to 5.75
percent results in saving over $5,000 a year.
The president of the California Association of Mortgage Brokers San Diego
Chapter, said raising the conforming loan limit in San Diego has been long
needed.
This review is based on an article by By MICHELLE MOWAD
San Diego Business Journal Staff
American home mortgage news
National Mortgage News Daily
December 2008: Economic stimulus news
Bush OKs economic stimulus package W. signed a two-year, $168-billion economic stimulus package on Wednesday. His intent is to inject "a booster shot" to The waning US economy G.W. said our dominant economy has overcome many bumps in the past and expressed faith that the economic aid plan would help the economy through this little "rough patch." In his words "I know a lot of Americans are concerned about our economic future. Our overall economy has grown for six straight years -- but that growth has clearly slowed."
The Presidential signature allows for one time tax rebate checks to be sent to many millions of Americans in the near future. In addition the act calls for tax breaks aimed at stimulating commercial investment. Economists are not certain of the acts potential impact considering the housing market slump and related credit problems, not to mention the unexpected loss of 17,000 jobs in January. The tax rebate checks of up to $600 dollars for individual taxpayers and $1,200 for married couples, and $300 for dependents, is intended to boost consumer spending. As would be expected, the largely Democratic Congress had few qualms approving the package.
The Pres. Took this as proof that "we could come together to provide a booster shot for our economy a package that is robust, temporary, and puts money back into the hands of American workers and businesses."
October 2007: National Mortgage News Daily Foreclosure News
American home mortgage news. Every cloud has a silver lining. Though the rate of loans entering foreclosure hit an all time high at .58% at the first quarter of this year and delinquencies are on the rise, there remains to be great hope in pockets around the country. According to the latest MBA National Delinquency Survey, twenty-four states actually saw a reduction in foreclosure starts and relative improvements in delinquencies. Chief economist, Doug Duncan, suggested that the number of loans in foreclosure.
September 2007: Subprime mortgage news Daily
Three Republicans from The House Financial Services Committee introduced a bill Thursday designed to tighten the standards of subprime mortgage lending.
Alabama�s Spencer Bachus and Ohio representatives Paul Gillmor and Deborah Pryce were the authors of the bill. Their plan is to establish national licensing and registration requirements for originators, force all lenders to escrow for taxes and require insurance on subprime loans, and eliminate prepayment penalties on hybrid ARMs for four months before the loan resets and thereafter.
Further, the bill will oblige regulators would to supply a short disclosure of loan details for lenders to make available to prospective borrowers. In addition, it would be mandatory for regulators to abide regulations forcing financial institutions to review a borrower's repayment ability before offering credit.
Additional components of the bill are aimed at increasing enforcement actions put in place to hinder fraud and improve the appraisal integrity.
Source: Kaper, Stacy. American Banker, 7/13/2007, Vol. 172 Issue 134, p3-3, 1/6p; (AN 25779447)
Mortgage News Daily
September 2007: COMMERCIAL ARENA STILL RUNNING STRONG
We are approaching mid-summer and the commercial real estate market is still running strong. Despite the slowdown in the residential theater, the commercial sector is ever expanding. In fact, there has been an increase in jobs in that domain while the opposite rings true for the other side. Consumer spending is even on a rise.
August 2007: OUTSOURCING: changing with the times (Barrack vs. Hillary)
Times are changing, and so are our attitudes about outsourcing. We fully accept the notion that many jobs can be well done by populations other than our own. In 2004, the central theme among presidential candidates was the evils of outsourcing. There was a grand fear that foreigners were competing with us for our jobs. Today we are beginning to understand the advantages of business process outsourcing (BPO). BPO call centers in India and the Philippines can operate for a fraction of the cost of domestic call centers.
August 2007: mortgage industry news
Politics mortgage news daily. HILLARY'S WAR ON LENDERS
Hillary Clinton is demanding penalties against mortgage brokers who engage in predatory lending and a $1 billion federal fund to help homeowners avoid foreclosure.
What ever happened to personal responsibility? It's as if the more responsible people are with their money the more they get rewarded. A bit perverted; don't you think?
Mama Clinton has always had issues with sub-prime mortgages. I guess she doesn't think people with bad credit histories or low incomes should get loans. I imagine she is more in favor of free handouts. Deficient home prices and rising interest rates have made it harder for borrowers to make their payments. This is her rational for the rise in delinquencies and foreclosures. What about the responsibility of a borrower to live up to their end of the deal. No its certainly not their fault; we better blame the evil predatory lenders.
According to Hillary:
"Today we have a clear choice: We can look at the statistics, wring our hands and continue to do nothing, or we can do what America has done in times of difficulty, acknowledge we have a real challenge and confront it head-on with real solutions," Clinton said. "I think we need to act now with smart, practical solutions to strengthen our housing and mortgage markets."
subprime mortgage news daily
July 2007:
UNCLE FRED AND AUNT FANNY ARE ON A COMEBACK: old friends are taking advantage of the subprime mortgage news market.
While mayhem in the residential mortgage market has spelled disaster for a handful of major players, Fannie Mae and Freddie Mac are hell-bent on making lemon-aide with the lemons all have been dealt.
July 2007:
Politics mortgage news BUSH OPPOSES BAILOUT Mortgage company news
W expresses his concern for individuals who have lost their homes, but insists that it is not the governments fault nor is it the feds job to bail them out. "Obviously anybody who loses their home is somebody with whom we must show an enormous empathy, when asked his opinion regarding a bail-out fund, Bush replied "If you mean direct grants to homeowners; the answer would be "No, I don't support that."
July 2007: mortgage industry news
Interest rates news. ILLINOIS BUYERS CONTENT WITH LOW RATES
Even in the coldest months of the year, buyers in the Illinois housing market remained active. The Illinois Association of Realtors maintains that total home sales were off by 6.8% in January, a decrease of 622 homes sold compared to January of 06. According to IAR president/broker, Robert Zoretich, The current economy provides a strong base for the housing market to recover this year with growth in GDP, employment and income, and interest rates that are low by historical standards. Zoretich continues, As the year goes on, home sales should steadily improve. Realtors anticipate that the housing market will continue in this transitional phase during the remaining winter months and pick up as spring approaches." In Chicago and its surrounding areas, January home sales totaled 5,950 compared to 6,652 sales in the previous year. That is a reduction of 10.6%. According to Zoretich, the National Association of Realtors reported that, we experienced the worst of the housing sales recession at the end of 2006 but we're still in an atypical year from inventory levels carrying over to this year, and a saving grace is that the housing market in Illinois is not as fragile to fluctuations in market conditions as other parts of the country.
This is a review of "Low interest rates keep buyers in Illinois housing market" National Mortgage News daily, 3/26/2007, Vol. 31 Issue 26, p21-21, 1/4p
June 2007: The Lead Tree's Mortgage News Daily
politics JOHN EDWARDS TAKE
Democratic presidential hopeful, self proclaimed savior to the poor, John Edwards, released a plan to end the predatory lending practices that have put millions of families at the brink of foreclosure. As part of his attempt to expand and strengthen the middle class, Edwards called for legislation aimed at regulating mortgage abuses and curbing predatory lending. He also proposed immediate actions including bankruptcy reform and a Home Rescue (bail-out) Fund, to provide relief for families who are at risk of loosing their homes.
Whether you have a mortgage, in the market one or its you job you can stay up to date with The Lead Tree's mortgage news daily.
Ask about The Lead Tree's telemarketing mortgage leads and receive free mortgage leads trial with 100 lead order. We also have great experience with Mortgage SEO and B2b leads generation.
