Government officials claim the refi plan has been extremely successful, far moreso, they admit, than the modification program. But clearly it wasn't doing enough, or they wouldn't have widened the parameters of elligibility.   Read More

That's right, your loan can be a full 25 percent more than the current value of your home, and Fannie and Freddie will gladly buy and/or back your new refi.   Read More

A lot of folks are parsing the latest S&P Case Shiller home price report out today, and debating whether some month-to-month increases are proof of home price stabilization nationwide. I frankly think it’s impossible to say anything nationwide, because a lot of different markets are reacting very differently. That may seem an incredibly prosaic thing to say, but I think an awful lot of smart folks often lose sight of that.    Read More

An interesting aside in the interview I did today with Michael Barr, the Treasury Department’s Asst. Secretary for Financial Institutions. Barr is the architect of the Administration’s Making Home Affordable program, i.e. the housing bailout, and this was his first on-camera interview since he was sworn in as a Treasury official.    Read More

I received the following email from Jeff in San Diego and was so struck by how reasonable, matter-of-fact and truly troubling it is. I know it's California, but I believe it's an example of a spreading trend nationwide...   Read More

Hundreds of mortgage industry representatives, from small and large shops, sent in stories of botched appraisals, of allegedly negligent appraisal management companies, and of lost deals that are so necessary to recovery in this fragile housing market.    Read More

Many home sales are falling apart at the last minute because "appraisals are coming in unrealistically low,” says NAR Chief Economist Lawrence Yun.   Read More

Today the Mortgage Bankers Association put out a revision in its 2009 originations forecast. A big revision. A $700 billion revision.    Read More

With mortgage interest rates creeping higher again - a new idea is floating around industry associations and Capitol Hill. It’s another home buyer tax credit.    Read More

Is it just me, or does anyone else find the weekly mortgage applications survey from the Mortgage Bankers Association particularly troubling today? I’ve been watching this indicator closely over the last few weeks, as mortgage interest rates rose. I of course expected refis to fall, and they did, and they continue to fall, bringing down the total number.    Read More