2,221,377
Here we go again.
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Mary Yonkers
Erie, PA
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Peter Testa
Danbury, CT
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Fred Griffin Florida R...
Tallahassee, FL
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Anthony Acosta - ALLAT...
Atlanta, GA
5,254,045
Doesn't surprise me - Mel Watt began his political career right here in Charlotte...
Back to "living or breathing," I guess.
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John Meussner
Fair Oaks, CA
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Mary Yonkers
Erie, PA
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Peter Testa
Danbury, CT
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Fred Griffin Florida R...
Tallahassee, FL
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Anthony Acosta - ALLAT...
Atlanta, GA
6,418,126
These cycles repeat, are you going to stop selling homes to people who do not have the resources to buy? Or will you just leave that up to the lenders?
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Candice A. Donofrio
Fort Mohave, AZ
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Nina Hollander, Broker
Charlotte, NC
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Bob Crane
Stevens Point, WI
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
5,583,328
a name and a pulse.... commitment!!!
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Bob Crane
Stevens Point, WI
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Candice A. Donofrio
Fort Mohave, AZ
1,056,272
Duh!
No one learns.
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Peter Testa
Danbury, CT
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Nina Hollander, Broker
Charlotte, NC
-
Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Candice A. Donofrio
Fort Mohave, AZ
679,235
Almost SOS-DD. The Fed now carries about $1.8T in MBS; and up until now, the positive earnings from Fannie and Freddie were sent to subsidize ACA.
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Peter Testa
Danbury, CT
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Candice A. Donofrio
Fort Mohave, AZ
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
3,988,013
I think that contributed to the problem but was not the root of the collapse. It was illegal practices going on that caused the wildfire. Some relaxing will not hurt in my opinion.
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Mary Yonkers
Erie, PA
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
5,772,587
Fred,
Politics of whatever they promised to whoever paid for their campaigns...Follow the money trail. A
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Nina Hollander, Broker
Charlotte, NC
-
Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Sam Shueh
San Jose, CA
913,468
It's already happening. Bring on the short sales. I don't care anymore. They can bring back stated income loans and it wouldn't bother me.
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
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Fred Griffin Florida R...
Tallahassee, FL
1,506,013
I think it could. After a certain point you lower them too much and things (like the economy) break.
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
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Fred Griffin Florida R...
Tallahassee, FL
5,112,471
This certainly could lead to problems down the line.
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Mary Yonkers
Erie, PA
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Fred Griffin Florida R...
Tallahassee, FL
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Anthony Acosta - ALLAT...
Atlanta, GA
4,582,309
History often repeats itself. Follow the money.
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Mary Yonkers
Erie, PA
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Fred Griffin Florida R...
Tallahassee, FL
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Tony and Suzanne Marri...
Scottsdale, AZ
182,965
The lower fico borrowers can't qualified with higher DTI. There are so many compensating factors which help to close that kind of loan.
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Peter Testa
Danbury, CT
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
1,712,776
I don't believe that is what they are doing and sub-prime does not exist today they way it did when Wall Street did it's best to screw us.
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Mary Yonkers
Erie, PA
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
420,003
Many things have already wiggled back to 2006. Problem layered with: Buyer pays cash over the value of appraisal (listed at $700000 buyer agrees to $725000 house appraises for $650000) with the recording of these higher pushing sales a new normal value occurs not based on truth.
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
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Candice A. Donofrio
Fort Mohave, AZ
1,241,754
The big banks are losing market share. They want perfect borrower.
Now the major mortgage service providers are lenders I have never heard of. Several are in my area. People still do not pay their bill. Americans will continue to borrow and live beyond one's means. If there are ample jobs in the area that will work. Employment is everything.
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Mary Yonkers
Erie, PA
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Debe Maxwell, CRS
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
55,673
Lowering credit scores and DTI ratios could cause some problems. What really needs to happen is Common Sense Underwriting. Recently I lost a deal with a buyer putting $600K down on a $1.2 million second home purchase. His DTI ratios were in the 50% area. Who cares! with a 50% LTV I would think this was a good deal. My Bank would approve him with our Portfolio moany, but he wanted to shop for a lower rate. I would like to see deals for people with 40% down or more be approved as a NO DOC deal. We need to run credit and if the FICO is over 600....approved!
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Ron Tissier
Atlanta, GA
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Fred Griffin Florida R...
Tallahassee, FL
759,485
They tightened it up, now they have to loosen the belt to keep home sales where they should be. Personally I am glad. There were a lot more reasons for the meltdown that included sketchy lending with fraudulent mortgage apps & more. We are all responsible for our own finances.
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Mary Yonkers
Erie, PA
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Fred Griffin Florida R...
Tallahassee, FL
3,071,489
Michael Jacobs nailed this one!
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Mary Yonkers
Erie, PA
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Fred Griffin Florida R...
Tallahassee, FL
1,624,853
Looks like it does happen more and more. Lenders are desperate these days... fico system has to be re-viewed, in my humble opinion.
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Mary Yonkers
Erie, PA
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Fred Griffin Florida R...
Tallahassee, FL
544,014
They are filling the pipeline of future short sales and REO's.
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Fred Griffin Florida R...
Tallahassee, FL
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Debe Maxwell, CRS
Charlotte, NC
7,863,486
Give families a chance to purchase a home.
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Anthony Acosta - ALLAT...
Atlanta, GA
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Fred Griffin Florida R...
Tallahassee, FL
4,319,773
Let us hope this does not happen!
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Fred Griffin Florida R...
Tallahassee, FL
5,877,335
I sure hope we don't see a repeat of 2008!
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Fred Griffin Florida R...
Tallahassee, FL
3,167,614
it's a dreadful idea. Everyone should NOT be an owner
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Fred Griffin Florida R...
Tallahassee, FL
4,960,530
I sure hope this does not happen.
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Fred Griffin Florida R...
Tallahassee, FL
5,239,359
It always seem we are heading in that direction! Not a good thing!
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Fred Griffin Florida R...
Tallahassee, FL
991,352
I don't mind myself, we go in cycles anyway and during last failure my business actually boomed quite a bit
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Fred Griffin Florida R...
Tallahassee, FL
1,728,156
1,078,091
We'll certainly see another set back for housing, but it won't be like last time. ARM loans aren't as attractive as they were in the last boom cycle, and prepayment penalties are nowhere near as prevalent, either. If/when we see home values decline some, there will certainly be some people stuck in a bad spot, and many who will choose to walk away from their homes, but it won't be the systemic collapse we saw before.
That said, it's #&%*ing absurd that they continue to increase dti thresholds, without any regard to disposable income.
I LOVE high dti programs - for high earning and high net worth borrowers who may have a 70% dti but still have thousands of dollars left over at the end of every month for static costs like groceries/gas/cell phone bills
To allow access to loan products with high dti for those without that level of disposable income is just irresponsible, and yes, will come back to bite the lenders offering the product and the home buyers using the product in the ass.
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Fred Griffin Florida R...
Tallahassee, FL
1,955,862
Just watched "The Big Short" AGAIN! If you really want to see what is going on dig into the details.
As Dorie Dillard has stated in her blogs.... The Three "A's"!!
Anticipate, Adapt and Adjust your real estate strategy accordingly. If you see the handwriting on the wall.
I live and sell in a second - vacation - investment - retirement market. We did not experience the downfall like other markets. But I continue to watch for the signs.
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Fred Griffin Florida R...
Tallahassee, FL
4,434,177
1,574,666
It could be a step in that direction. Those of us who have lived through it need to be open with our counseling about obligations and mortgages!
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Fred Griffin Florida R...
Tallahassee, FL
4,800,132
3,349,404
I do believe we may be headed for another "crisis".
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Fred Griffin Florida R...
Tallahassee, FL
1,466,257
Fred Griffin If lowering the credit standards allows a buyer to purchase a home they can afford with a fixed rate and make the payments, why not?
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Fred Griffin Florida R...
Tallahassee, FL
1,231,853
Keep your financial umbrella handy. You might need it sooner rather than later.
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Fred Griffin Florida R...
Tallahassee, FL
902,038
No question about it - we are definitely heading that way, in some shape or form.
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Fred Griffin Florida R...
Tallahassee, FL
921,504
Is Bank of American Still controlling how Moody rates investments?
It is this mechanism that guaranteed banks could send bad mortgages to Fannie and Freddie, creating a 'free-for-all' of fake mortgages, in which all banks participated, that ultimately lead to the last crash.
I see no such 'fakery' in the market today.
Of course no one has seen the fine print, we can trust was created by the banking industry, contained in the proposal to lower the standards.
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Fred Griffin Florida R...
Tallahassee, FL
3,416,038
They are still very tight so if they loosten it to what is common sense to us i am for, bit not so anyone wth a pulse gets a loan.
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Fred Griffin Florida R...
Tallahassee, FL
1,525,616
I certainly hope we don't have a repeat of 2006!
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Fred Griffin Florida R...
Tallahassee, FL
3,986,308
This along with the no down I believe will set us up for another disaster.
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Fred Griffin Florida R...
Tallahassee, FL
2,784,566
perhaps another chance for the many to get back in
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Fred Griffin Florida R...
Tallahassee, FL