Remove articles are-we-seeing-a-cash-out-loan-crisis
article thumbnail

Are we seeing a cash-out refinance crisis?

Housing Wire

I hear a lot of chatter about a boom in cash-out refinances, and the presumption seems to be that this is destined to wreak havoc on the housing market and the economy at some point. But there are several critical reasons why the recent uptick in cash-out refinancing is nothing like the cash-out boom of the early to mid-2000s.

Lending 543
article thumbnail

The 2021 housing market recap by Logan Mohtashami

Housing Wire

We started the year with many pundits saying that the U.S. economic recovery was a false story and that we were about to embark on a second housing bubble crash due to forbearance. Now that we are just a few days away from 2022, it’s time to take a look at the positive and the negative housing stories of 2021.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What happens after the Fed’s rate hike?

Housing Wire

The Federal Reserve will hold another meeting this week, where everyone assumes we will get another 75 bps rate hike. From the WSJ article: “ U.S. This was key to the recovery going into the COVID-19 crisis and getting out of that brief recession because we didn’t have a credit bubble that needed deleveraging.

Law 517
article thumbnail

Risk of mortgage fraud is on the rise in the current market

Housing Wire

The problem: They did not qualify for the loans. Hill’s scheme, also enabled by a group of co-conspirators, caught up with him, in part because many of the loans started going south. Hill instructed the homebuyers on how to game the system by submitting fraudulent asset, income and employment information on loan applications.

Mortgage 397
article thumbnail

What Tools for Measuring Houses for Appraisals

Appraisal Today

not many To see the graph, click here My comments: I have always wondered about this. I was surprised to see how few use phone apps. residence is sited on just over an acre, with more than 120 feet of walk out beachfront and a private four-season private dock. To read more and see lots of photos, click here My comments: WoW!

Tools 76
article thumbnail

Purchase apps are at 2009 level: where’s the inventory?

Housing Wire

As the 10-year yield broke above 1.94% and mortgage rates rose, we saw the impact on housing data. We see this in the data. Last year we had COVID-19 comps. We will have more challenging comps to work in October of this year, and maybe that 18%-22% decline will happen then. The year-over-year data is down 16%.

Inventory 522
article thumbnail

Logan Mohtashami: The 2022 housing forecast

Housing Wire

We had a few times in the previous cycle where the 10-year yield was below 1.60% and above 3%. We got to as low as 0.32% on that Monday morning in March when the crisis was hitting the markets the hardest. We got there in December of 2020 so I was able to retire my America is Back recovery model. The X factor.