Comments on: Another Lender Pulls Out of Fannie/Freddie 100 http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/ Seattle's Leading Resource for Real Estate Information Sat, 20 Mar 2010 16:58:13 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Roger Ingalls http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-285724 Roger Ingalls Sun, 16 Mar 2008 00:36:56 +0000 http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-285724 Rhonda: Yes indeed, Happy Birthday! Rhonda:

Yes indeed, Happy Birthday!

]]> By: Proposed RESPA Reform | Rain City Guide | A Seattle Real Estate Blog... http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-285647 Proposed RESPA Reform | Rain City Guide | A Seattle Real Estate Blog... Sat, 15 Mar 2008 21:31:45 +0000 http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-285647 [...] Proposed RESPA Reform March 15, 2008 When I read the news on HUD’s proposed reform of the Real Estate Settlement and Procedures Act (RESPA) I was skeptical. Cathy from Sequim challenged me to read the 96-page federal register document so we could all figure out what’s going on. I am here to tell you that there is one very good change coming out of this proposal. In fact, it’s so good that I am borderline hopeful that this change might do what legislation is suppose to do and what HUD forgot to do when they signed the original version of RESPA in 1974. But first, the changes that will have many, but not all mortgage brokers screaming bloody murder: [...] [...] Proposed RESPA Reform March 15, 2008 When I read the news on HUD’s proposed reform of the Real Estate Settlement and Procedures Act (RESPA) I was skeptical. Cathy from Sequim challenged me to read the 96-page federal register document so we could all figure out what’s going on. I am here to tell you that there is one very good change coming out of this proposal. In fact, it’s so good that I am borderline hopeful that this change might do what legislation is suppose to do and what HUD forgot to do when they signed the original version of RESPA in 1974. But first, the changes that will have many, but not all mortgage brokers screaming bloody murder: [...]

]]> By: Kary L. Krismer http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-285541 Kary L. Krismer Sat, 15 Mar 2008 17:40:49 +0000 http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-285541 As a follow up, back during the dot-com bust, properties in Seattle sold for less than what they would have but for that meltdown. That's because a lot of people in Seattle worked for such companies, and they went from having a lot of option related income, to some even becoming insolvent as a result of exercising their options on margins. Did that mean prices fell in Seattle? No. But a lot of people (including myself) thought they would. As a follow up, back during the dot-com bust, properties in Seattle sold for less than what they would have but for that meltdown. That’s because a lot of people in Seattle worked for such companies, and they went from having a lot of option related income, to some even becoming insolvent as a result of exercising their options on margins. Did that mean prices fell in Seattle? No. But a lot of people (including myself) thought they would.

]]> By: Kary L. Krismer http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-285431 Kary L. Krismer Sat, 15 Mar 2008 14:38:08 +0000 http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-285431 Sandy and Yang, There are so many factors that affect real estate prices that it's impossible to predict where they will go. What caused prices to skyrocket last year March to July? Was it people moving here from other areas? Was it people pulling money out of the stock market? Was it the interest rates? Was it a mini-baby boom? Press reports? All that and more? So all I'm saying is that the prices will be lower than what they would have been. That could be either a larger decrease or a smaller increase. BTW, I agree with Rhonda as to the stated income, but that will be more the middle/higher end of the market, while this will be more the lower end. Sandy and Yang,

There are so many factors that affect real estate prices that it’s impossible to predict where they will go. What caused prices to skyrocket last year March to July? Was it people moving here from other areas? Was it people pulling money out of the stock market? Was it the interest rates? Was it a mini-baby boom? Press reports? All that and more?

So all I’m saying is that the prices will be lower than what they would have been. That could be either a larger decrease or a smaller increase.

BTW, I agree with Rhonda as to the stated income, but that will be more the middle/higher end of the market, while this will be more the lower end.

]]> By: Yang http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-285244 Yang Sat, 15 Mar 2008 09:16:58 +0000 http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-285244 Rhonda, My question to Kary is what other factors that he sees may offset the lower price resulting from th elimination of 100% financing. He seems to suggest that other factors might be at work here to keep prices from dropping. If that's the case, I really want to know. Rhonda,

My question to Kary is what other factors that he sees may offset the lower price resulting from th elimination of 100% financing. He seems to suggest that other factors might be at work here to keep prices from dropping. If that’s the case, I really want to know.

]]> By: ARDELL http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-285171 ARDELL Sat, 15 Mar 2008 06:50:31 +0000 http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-285171 They're going to nose dive :) They’re going to nose dive :)

]]> By: Rhonda Porter http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-285058 Rhonda Porter Sat, 15 Mar 2008 03:40:23 +0000 http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-285058 Yang, the elimination of stated income loans will have a bigger impact on housing prices overall than the 100% financing IMO. Yang, the elimination of stated income loans will have a bigger impact on housing prices overall than the 100% financing IMO.

]]> By: Q-Diddy http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-285051 Q-Diddy Sat, 15 Mar 2008 03:30:29 +0000 http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-285051 Rhonda- Happy Birthday! :-) Rhonda-

Happy Birthday! :-)

]]> By: Q-Diddy http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-284985 Q-Diddy Sat, 15 Mar 2008 01:19:36 +0000 http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-284985 Don- Are you serious!? Which structure had that enhancement? To give you an example, BofA, a prime issuer only had ~5% Don-

Are you serious!? Which structure had that enhancement? To give you an example, BofA, a prime issuer only had ~5%

]]> By: Yang http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-284975 Yang Sat, 15 Mar 2008 01:06:34 +0000 http://raincityguide.com/2008/03/13/another-lender-pulls-out-of-fanniefreddie-100/#comment-284975 Kary said: <blockquote>eliminating 100% financing would reduce demand, so that factor alone would result in lower prices. But that’s only one factor. Other factors may offset that.</blockquote> Kary, what other factors do you see/know that would offset the reduced demand or would offset the lower prices? Kary said:

eliminating 100% financing would reduce demand, so that factor alone would result in lower prices. But that’s only one factor. Other factors may offset that.

Kary, what other factors do you see/know that would offset the reduced demand or would offset the lower prices?

]]>