JB Group Weekly Tweet Recap for 2011-04-10

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Posted on in General

JB Group Weekly Tweet Recap for 2011-04-10

DeMarco Debates GSE Reform Approaches – The House Subcommittee on Capital Markets, Insurance, and Government-Sponsor… http://ow.ly/1c2ibR # RT @tnr01: The Fed lifts Stay. http://ow.ly/4tUQu # Originator Comp Reform Update: Delay Dissolved – Just in case you've missed any of these developments or just needed… http://ow.ly/1c3nqC # RT @johnloanguy: Prices are low! Mortgages cheap! But you can't get one http://t.co/6fSvDRC via @CNNMoney # IMF Frowns on Mortgage Tax Deduction. Recommends Return to Basics http://ow.ly/1c4qUQ # IRS to give Tax Lien holders a Break http://fb.me/ZxdHKMvc # Rents on the Rise: Shadow Inventory a Solution? – REIS Inc, an impartial source of commercial real estate data, has … http://ow.ly/1c5xg4 # MBA Urges Regulators Not to Rush Critical Mortgage Reforms – The Mortgage Bankers Association (MBA) has what it call… http://ow.ly/1c6ypO #

by jberman
Posted on in Consumer Education

Mailbag: IRS to give Tax Lien holders a break

From time to time, we get great content from our friends over at Advantage Credit. In December, they wrote about Short Sale and Foreclosures and how each affects your credit report. Short Sale Vs. Foreclosure: How Does Each Affect My Credit? Advantage is back with an update on the latest changes from the IRS regarding Tax Liens. The big change … If you have had a tax lien in the past and you have paid it off in full or by settlement, you can now remove the lien from your credit report, thereby increasing your credit scores. This is good news for consumers and will help some folks obtain home financing that otherwise couldn’t. It’s not often we cheer for the IRS but this is one instance they deserve some credit (sort of a pun there). Anyway, here’s the skinny, courtesy of Mindy Leisure and Advantage Credit. Up until now a tax lien, paid or unpaid could haunt your credit […]

by jberman
Posted on in Mortgage Regulation

IMMAAG Alert: Fed & NAIHP/NAMB Appeal Briefs Filed with Circuit Court

I’ve been a fan of Bill Kidwell & his efforts at IMMAAG for a long time. Bill & I served on the Colorado Association of Mortgage Brokers (CAMB) board back in the mid 2000’s. In fact, the first mortgage registration bill for Colorado was passed when we were serving as CAMB’s President & President-Elect respectively. Bill is a tireless source of effort and passion for the small independent mortgage originator industry. Successfully getting felons kicked out of the business in Colorado, Bill now focuses on legislative advocacy through his company, IMMAAG. IMMAAG advocates to stop unfair and unjust regulations being thrust on the small independent originator channel.  I consider Bill Kidwell a top resource for analysis and commentary, especially with respect to issues like Compensation. His most recent email post is particularly good and I wanted to share it with my readers. I encourage you to join his mailing list and support his efforts. He’s one of the good guys. ~ […]

by jberman
Posted on in General

JB Group Weekly Tweet Recap for 2011-04-03

I don't even know where to start on this. http://fb.me/InLa1oDH # Pending Home Sales Up 2.1 Percent in February – The National Association of Realtors® (NAR) released its Februar… http://ow.ly/1bXlnh # http://fb.me/wi8AbqTV # Case-Shiller: Home Price Double-Dip Materializing – The January S&P/Case Shiller Home Price Indices, released by… http://ow.ly/1bY2zd # A judge has denied the request from the NAMB for a Temporary Restraining Order seeking to delay the new rules on loan officer compensation. # MBA Expresses "Profound Concern" Over Risk Retention Proposals http://ow.ly/1bYMlw # CoreLogic Estimates Shadow Inventory at 1.8 Million Homes – For the second time in less than a week economists have … http://ow.ly/1bZwKa # L.O. Comp Rules Delayed Five Days. Not a Cruel Joke! – HAPPY APRIL FOOL'S DAY! This is not a cruel joke. From NAMB's… http://ow.ly/1c0hMB #

by jberman
Posted on in Housing Market

Housing Market Musings: A Double-Dip?

We’ve been predicting a double-dip slump for housing ever since rosy reports about the economy began circulating through the media. Here are some of the indicators that I watch. Shadow inventory – This is housing inventory on the sidelines waiting for a good time to enter the market. As this inventory is put on the market, prices will be suppressed. Unemployment No Alt-A market for self-employed borrowers with good credit – Large swath of the potential borrower pool is unable to refinance or purchase. 20%+ of homeowners have negative equity. Interest rate increases loom. A 1% rise in interest rates will deflate any momentum gained. We have a long road ahead. 20% of Mortgages Underwater in December Unfortunately, “the accelerating share of negative equity, combined with deteriorating economic conditions, means that mortgage risk will continue to increase until home prices and the economy begin to stabilize,” said Mark Fleming, chief economist of First American CoreLogic, in a news release.” Borrowers […]

by jberman
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