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Mortgage Brokers

Welcome to the special Real Estate Industry Bulletin for Mortgage Brokers.

Uncover the Power of Seller Financing

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Uncover the Power of Seller Financing

Leave your seller finance questions in the comments area below… by guest writer Julie Broad During the heated market conditions of the mid-2000′s, sellers willing to finance real estate deals were really tough to find. Homes were selling fast and for so much more money than most sellers expected. Today, with cooler housing conditions,...
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PHH narrows 3Q loss as mortgage closings surge

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PHH narrows 3Q loss as mortgage closings surge

PHH Corp. (PHH: 20.07 0.00%) narrowed its loss in the third quarter to million, or 14 cents a share, from million, or 94 cents a share, a year earlier, as mortgage closings increased. Revenue for the three months ended Sept. 30 rose to 2 million from 7 million in the comparable period in  2009....
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MICA insurance applications up 31.8% in September compared to 2009

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MICA insurance applications up 31.8% in September compared to 2009

Mortgage insurance applications rose in September for the six firms of the Mortgage Insurance Companies of America, a trade association representing the private mortgage insurance industry. According to the trade group's monthly statistical report, September applications totaled 39,846, up 0.8% from August and up 31.8% from one year ago. MICA reported the cure rate...
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Vegas home sales down 15% in September: DataQuick

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Vegas home sales down 15% in September: DataQuick

Las Vegas home sales fell 15% in September from a year ago but held flatter than normal on a monthly basis, according San Diego-based real estate data provider MDA DataQuick. There were 4,276 new and resold home sales in Las Vegas for September, down 0.2% from August. Monthly sales did fall nearly as far...
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MGIC extends 97% LTV mortgage insurance to existing homeowners

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MGIC extends 97% LTV mortgage insurance to existing homeowners

MGIC Investment Corp. (MTG: 9.21 -5.05%) will insure 97% loan-to-value ratio mortgages for existing homebuyers effective Nov. 1. The mortgage insurer currently insures such loans for first-time homebuyers only. Qualifying mortgages are written in non-restricted markets and hold a maximum loan amount of 7,000. The buyers must have a minimum credit score of 700....
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DataQuick: California Mortgage Defaults Rise in Third Quarter

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DataQuick: California Mortgage Defaults Rise in Third Quarter

Click on graph for larger image in new window. This graph shows the Notices of Default (NOD) by year through 2009, and for the first three quarters of 2010, in California from DataQuick. Although the pace of filings has slowed from the previous two years, it is still very high by historical standards. From...
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Schedule for Week of Oct 24th

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Schedule for Week of Oct 24th

The previous post is the Summary for Week ending Oct 23rd The key economic report for the coming week is the Q3 advance GDP report to be released on Friday. There are also three important housing reports to be released early in the week: Existing home sales on Monday, Case-Shiller house prices on Tuesday,...
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Clear Capital: “Sudden and Dramatic Drop in U.S. Home Prices”

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Clear Capital: “Sudden and Dramatic Drop in U.S. Home Prices”

I usually focus on Case-Shiller and Corelogic repeat sales house price indexes. Case-Shiller is the mostly widely followed, and the Federal Reserve uses Corelogic. The Clear Capital index is also repeat sales, with a price-per-square-foot model, and is a rolling three months average that can be updated daily. I thought I’d pass along this...
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Fed’s Beige Book: Economic Activity increased at “modest pace”

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Fed’s Beige Book: Economic Activity increased at “modest pace”

Note: This is based on information collected on or before October 8, 2010. From the Federal Reserve: Beige book Reports from the twelve Federal Reserve Districts suggest that, on balance, national economic activity continued to rise, albeit at a modest pace, during the reporting period from September to early October. … Manufacturing activity continued...
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Active vs. Passive Investing

Active vs. Passive Investing

In real estate, there are two basic concepts of investing – active and passive. Passive investing is typically your buy-and-hold form of investing. Simply put, once you’ve purchased a solid income property, you sit back and let it appreciate over time and have your tenants literally pay down your mortgage each and every month....
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