Wirth-Moore Blog Topics
- Financing (51)
- General New Orleans Real Estate (35)
- Insurance (12)
- Marigny / Bywater Real Estate (1)
- National Real Estate (50)
- New Orleans Mortgage Interest Rates (68)
- Property Taxes (3)
Author Archives: Debra Howell
New Rules May Curtail Some Fees in Mortgage
By Edward Wyatt, from the New York Times: The Consumer Financial Protection Bureau said it planned to propose tighter mortgage lending regulations that would limit the ability of banks and mortgage brokers to charge certain transaction fees, possibly ending one of the most abusive costs levied on consumers when they buy a house.
Posted in Financing
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Borrowers Face Big Delays in Refinancing Mortgages
By Nick Timiraos, from the Wall Street Journal: Clogged mortgage pipelines have created headaches for hundreds of thousands of Americans trying to take advantage of low mortgage rates, which averaged 4.05% for the week ending April 27, according to the Mortgage Bankers Association.
Posted in Financing
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What Should New Dodd-Frank Mortgage Rules Say?
By Alan Zibel, from the Wall Street Journal: At issue is a part of the Dodd-Frank law, known as the “qualified mortgage” rule. It is designed to protect consumers from the kind of risky lending practices that shook the financial system in 2008. The Consumer Financial Protection Bureau, also created by the Dodd-Frank law, has the difficult task of completing these rules, which were initially proposed by the Federal Reserve last year. The idea is to provide an incentive for the industry to make safer loans, and ensure that they lenders consider a borrower’s ability to repay the loan. Loans made under the qualified-mortgage standard will receive a degree of protection from lawsuits, though the level of that shield is a matter of intense debate.
Posted in National Real Estate
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Raines: Don’t Blame Homeowners, Government for Housing Bust
By Alan Zibel, from the Wall Street Journal: Speaking on a panel at a conference in Washington held by the National Community Reinvestment Coalition, a consumer group, former Fannie CEO Franklin Raines argued that an influx of investors into the housing market — rather than government policy — was the main cause of the market’s collapse.
Posted in National Real Estate
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Rising flood insurance premiums could block potential homebuyers
From New Orleans City Business: For Realtors, flood insurance coverage in Southeast Louisiana can be a challenging part of the sales process. “It can actually take someone out of affording a certain dollar-value,” said Renee Ferrera, CEO of Keller Williams Realty Crescent City Westbank Partners. Ferrara noted that the cost of insurance can in some cases be upwards of $200 to $400 a month, a pricy addition to the average homebuyer’s already-delicate mortgage equation.
Posted in Insurance
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Realtors continue to wait for market resurgence
By David Muller, from New Orleans City Business: Interest rates are at an all-time low, housing inventory is adequate and economic conditions here have been far from the distressed state that continues to weigh down homebuying in other parts of the country.
Posted in General New Orleans Real Estate
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New mortgage rule on disputed debts might hamper homebuyers seeking FHA loans
By Kenneth Harney, from the Washington Post: A little-noticed mortgage rule change that took effect April 1 could create hassles for significant numbers of homebuyers who plan to use low-down-payment FHA financing this spring.
Posted in Financing, General New Orleans Real Estate, National Real Estate
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Are Mortgage Credit Standards Loosening? (Hint: No)
By Nick Timiraos, from the Wall Street Journal: It’s no surprise to anyone who has applied for a loan recently that banks are being far more careful. But a new report shows just how tight conditions have become — and how even borrowers with favorable credit profiles are being denied.
Posted in Financing, General New Orleans Real Estate, National Real Estate
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It’s a Good Time To Refinance
By Rachel Louise Ensign, from the Wall Street Journal: For homeowners who have been waiting for interest rates to fall even further before refinancing, it might be time to pull the trigger on a deal. Rates are moving up—and could stay higher for a while, experts say. While rates still are below where they were a year ago, some economists say they are likely to keep rising throughout 2012 and into 2013. That means your window of opportunity to lock in a rock-bottom rate might be closing soon.
Posted in Financing
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Mortgage Write-Downs Granted Here, There – Not Everywhere
By Alan Zibel, from the Wall Street Journal: Fannie Mae and Freddie Mac aren’t granting reductions in homeowners’ loan balances, as has been widely noted of late. Nevertheless, some Americans who have gotten into trouble on their mortgages are actually seeing their loan balances cut, as a debate rages in Washington about whether doing so on a wider scale will be effective.
Posted in Financing, National Real Estate
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