Banking Industry

FHA Mortgages and Student Loans Are a Risky Combination

FHA Mortgages and Student Loans Are a Risky Combination

First time home buyers have traditionally faced a variety of obstacles including the high cost of housing, stagnant wages, and the difficulty involved in saving for a down payment.   If that wasn’t bad enough, recent changes […]

Optimists On Housing Recovery May Have To Wait Another Decade – Humpty Dumpty Vs The Fed

Optimists On Housing Recovery May Have To Wait Another Decade - Humpty Dumpty Vs The Fed

It wasn’t supposed to be like this. Housing prices were never supposed to decline year over year. Economic depressions were supposed to be a relic of the past. If the economy weakened, the Fed would fix everything […]

How Much Is A Trillion Dollars? – U.S. Debt Levels Exceed Comprehension

How Much Is A Trillion Dollars? - U.S. Debt Levels Exceed Comprehension

With little press coverage and no debate by Congress, the U.S. debt level is set to automatically increase by another $1.2 trillion in January. The most remarkable aspect to the latest huge increase in U.S. debt is […]

Bank of America Refinance Offer Raises Questions On Wealth Accumulation

Bank of America Refinance Offer Raises Questions On Wealth Accumulation

A client of mine recently received a mortgage refinance offer by mail from Bank of America (BAC).  The offer showed that a savings of $2,225 per year was possible by refinancing to a new 30 year fixed […]

The Lending Company Of AZ Reports Data Theft But Gives No Help To Those Compromised

Data Theft At Major Arizona Mortgage Company Leaves Many Questions Unanswered Major incidents of data theft seem to be occurring with alarming frequency.  Even companies with considerable resources seem powerless to prevent the theft of customer records […]

FHA Introduces New Minimum 580 Credit Score Requirement

The FHA is introducing new guidelines on loan to value ratios and the minimum credit score required for FHA borrowers.  As detailed in a Mortgagee Letter from the Department of Housing and Urban Development (HUD), the following […]

Will Governor Schwarzenegger Trigger 55,000 California Foreclosures?

California’s long running budget crisis has now degraded to the point where Governor Arnold Schwarzenegger has ordered a pay reduction to the minimum wage rate of $7.25 an hour for 200,000 state employees. The California banking industry, […]

US Treasury Calls TARP Repayments A “Milestone” While Ignoring The Elephants In The Room

Treasury’s Victory Call On Financial Bailout Premature The Treasury Department’s latest public relations effort to highlight the success of the financial system bailout focuses on the amount of TARP repayments versus total debt outstanding.  In addition, the […]

Federal Reserve Super Low Rate Policy Crushes Savers And The Elderly

Federal Reserve Super Low Rate Policy Crushes Savers And The Elderly

Fed Sees Solution In Zero Rates The Federal Reserve recently vowed to keep interest rates “exceptionally low”  for the foreseeable future in an attempt to revive the economy.   Since mid 2006 the Fed has brought the […]