OCC warns banks against asset-depletion loans

The Office of the Comptroller of the Currency is asking banks to maintain strict lending standards for a kind of unconventional mortgage that’s focused on the borrower’s assets. According to the federal regulator, so-called asset-depletion loans are growing fast in the subprime lending market. These loans let borrowers draw upon their assets, instead of their

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Borrowers turn to non-banks for mortgages as traditional lenders shy away

Borrowers are ditching traditional banks in their droves in favor of financial institutions that do not offer savings or checking accounts.

Banks make house flipping easier for investors

Although home prices have been raising steadily over the past year, house flipping is still extremely popular among investors. And it’s the banks that are being credited

Wells Fargo, JPMorgan Chase, reveal new 3% down payment mortgage programs

Some banks are moving away from Federal Housing Administration mortgages and instead coming up with their own low down payment home loans targeted at those who’re struggling to meet the standard criteria.

Memphis Commercial Real Estate Moving Forward

Memphis commercial real estate continues showing signs of prosperity. Especially with the rebirth of the Downtown area. One strong indicator is the recent sale of the Raymond James Tower at 50 North Front Street. Noteworthy is the purchase is being made by a New York based group of private investors under the new landlord entity

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Why The Housing Market Is No Longer A Good Investment

The wealth-building potential of the US housing market was reliable and predictable for many decades following the end of World War II. But today, it’s becoming clear that this “wealth-building potential” has been hijacked.

Small Lenders Making a Big Difference

According to Inside Mortgage Finance, smaller banks and nonbank lenders are now dominating the mortgage business. A study found that these previously nontraditional mortgage lenders make up about 60% of mortgages today compared to about 39% in 2009. Of course, this depends on how you define smaller banks and nonbank lenders. When considering those outside

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Are Hard Money Loans Worth the Hassle?

The title is a tough question to answer on several levels. The answer is “yes” hard money is a hassle when it comes to the cost and terms of the loan. The answer is “no” when you have a great deal but you need immediate cash to close it. Beginning and Experienced Investors The answer

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A Short Rant on Ecomomic Disaster: The State of Fair Play 2013

Anyone reading this has to have been affected by the so called “Great Recession”, and most of you very negatively. Without going into history lessons or far reaching “what ifs” – suffice it to say when Wall Street crashed this time, your future was altered inextricably. Given all that, near continuous news of underhanded dealings prompts this little rant. Okay, it’s a big rant – but you don’t even want to go here.

QE3 – Is The FED Using Unemployment As A Cover For Another Bank Bailout?

Happy days are here again on Wall Street, which saw stocks, commodities and gold going higher immediately after the big news that the Federal Reserve will begin an open-ended program of new Quantitative Easing, known affectionately as “QE3”. But this time the Fed is going all-in with it’s biggest QE yet

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