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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FHA announces tougher underwriting standards for high-risk loans

New lending rules announced by the Federal Housing Administration this week could put as many as 50,000 mortgages a year in jeopardy, reports say. The FHA is the government body that insures mortgages for first-time buyers and also “high risk” borrowers with low credit scores and higher payments relative to their incomes. This week however,

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Why one real estate agent rejected higher bids in favor of an all-cash offer

Dallas-based real estate agent Laura Barnett didn’t anticipate quite so much interest in a listing she put on the market just three weeks ago.

The dangers of crowdfunded real estate investment projects

RECFunds are often a good bet for investors, especially those who might be unable to obtain financing using traditional methods, but that doesn’t mean they are completely risk free.

Can’t get a Mortgage? Try a Bigger Lender

Demand for mortgages rose during the second quarter, but a strong divergence between larger and smaller lenders in underwriting credit standards is appearing.

Skip the Prelisting Appraisal; Hire the Appraiser as a Consultant

Should a home seller get a pre-listing appraisal? Only if its usefulness is kept in context, otherwise, it’s likely to be a waste of money. As both an active certified appraiser and associate broker I always try to find why the question was asked before answering it. Many times, having an appraiser as a “consultant” is far better than having them complete just an appraisal.

Heartbreak Hotel Awaits Some Spring Home Sellers

Over the next few months, many sellers will have their hearts broken. This will be primarily self-inflicted but much of it enabled by collaborating real estate agents. The hurt will come as a result of the positive real estate news splashed across the headlines.

RealtyBizNews: Real Estate Marketing & Beyond