FICO: Americans More Likely to Default on Mortgages than...

Posted To: MND NewsWire

American consumers are now defaulting on their mortgages in even greater numbers than they are walking away from credit card debt. According to FICO's® Score Trends Service, this is a phenomenon that is historically unique. FICO said the mortgage default risk for consumers with high FICO scores now exceeds their credit card default risk, even though most credit cards are unsecured credit and mortgages are secured by real estate. There is a parallel rise in mortgage delinquencies for these high scoring consumers. The company said that their analysis of trends in FICO scoring shows that recent repayment behavior has shifted significantly from what has historically been expected. In 2005 bankcard accounts were more than 3 times more likely to become seriously delinquent, that is 90+ days...(read more)

MBS LUNCH: 10 Year Treasury Auction Results and Reactions

Posted To: MBS Commentary

10 year auction has impressive demand, but at higher rates. 3.45 Bid To Cover, but 3.735 % high yield with 70.94% of the bids at high yield MBS and Treasuries both slightly better on the announcement 4.5's are now down only 2 ticks on the day at 100-29 and 10yr yields are back down to 3.72+ from 3.74+ Here is a breakdown of the auction results: 9-YR 11-MO NOTES YIELDS High 3.735 pct Median 3.700 pct Low 3.636 pct PRICE/ACCEPTANCES Price 99.090493 Accepted at high 70.94 pct Bid-to-cover ratio 3.45 AMOUNTS TENDERED AND ACCEPTED (dollars) Total accepted 21,000,013,800 Total public bids tendered 72,466,493,000 Competitive bids accepted 20,829,510,800 Noncompetitive bids accepted 70,503,000 Fed add-ons 248,452,700 Primary Dealer Tendered 49,661,000,000 Primary Dealer Accepted 9,857,410,000 Primary...(read more)

Loan Demand Stagnates. Only One Bright Spot in the...

Posted To: MND NewsWire

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 5, 2010. The survey covers over 50 percent of all US residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a look into consumer demand for mortgage loans. A rising trend of mortgage applications indicates an increase in home buying interest, a positive for the housing industry and economy as a whole. Furthermore, in a low mortgage rate environment, such a trend implies consumers are seeking out lower monthly payments which can result in increased disposable income and therefore more money to spend on discretionary items or to pay down other debt. From the release: The Market Composite Index, a measure of...(read more)

Marijuana Grow Houses

Nice home in a gated community, privacy fence, oversized a/c unit these are normal attributes of many upscale communities. But behind closed doors? Mold, electrical hazards, structural damage, pesticides and other dangers lurk. Marijuana grow houses are popping up in big cities and small towns, wealthy and low-income neighborhoods across the country the problem is no longer limited to California and Florida. Home buyers and sellers, landlords and agents, neighbors and community leaders can learn how to spot, fix, and understand the impact of marijuana grow houses in this NEW Field Guide.

Establishing a Charitable Foundation

In today's economy, making the decision to establish or even to participate in a charitable foundation can be rough. The resources presented in this Updated Field Guide can help facilitate this decision-making process. You will find information pertaining to tax and legal issues, fundraising as well as general tips on how to start a non-profit. You'll also discover a wide assortment of useful web sites as well as many valuable resources available from NAR, including the Housing Opportunity Program (HOP)!