Pay Option ARMs

post thumbnail Foreclosures Forecasted to Flood Market in 2011

Foreclosure filings for the month of January experienced a 17 percent decline over last year, according to RealtyTrac, Inc., which publishes the most comprehensive database of home foreclosures online. But this positive news could slightly mislead consumers. Other background factors are at play. For example, many lenders are currently bombarded with the sheer number of […]

18Feb2011 | | 2 comments | Continued
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Fed Treasury Choke On Kryptonite

The housing market remains oversupplied by 860,000 units when compared to a 10-year average inventory and the overhang represents a direct contradiction to the spirit of Tuesday’s headlines describing new data from the National Association of Realtors. Major media said that “Home Sales Exceed Forecasts” (Bloomberg) and “Sales Rise 7.4%” (Wall Street Journal) and “Sales […]

23Dec2009 | | 3 comments | Continued
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Top Forensic Loan Auditor Comments on Wells’ Pay Option Situation

Calling B.S. on pollyanna-ish appraisals of Wells’ Pay Option ARM risk, with the help of an industry expert.

30Nov2009 | | 2 comments | Continued