LARGEST MORTGAGE LENDER IN THE WORLD

6 comments

Posted on 11th April 2014 by Administrator in Economy |Politics |Social Issues

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How exactly did home prices skyrocket by 14% last year? Inquiring minds want to know how you can have a healthy housing recovery with rising home prices when mortgage originations are 74% below 2012 levels at the largest mortgage lender on the planet. Somebody ask Lyin Larry Yun from the National Association of Realtoors or Steve Liesman at CNBC. I’m sure they have a truthful answer backed up by facts.  

Via Zero Hedge

 

6 Comments
  1. card802 says:

    STOP IT STOP IT STOP IT!!!!

    I’m happier not knowing facts. 2014 is starting to look like the year the house of cards fall.

    11th April 2014 at 10:24 am

  2. bb says:

    Card ,house want collapse until Federal debt reaches 20+trillion.Sooner or later interest rates will take a spike upward and that will bring it all down on us.Watch the interest rates that is our clue.

    11th April 2014 at 10:57 am

  3. AWD says:

    The people buying houses don’t need no stinking mortgages, they get free money from the Federal Reserve, almost unlimited almost interest-free cash, deposited into hedge fund accounts by Grandma Yellen. The only problem is they’ve quit buying houses, which leaves only rich Chinese and Russians. Once they exit, look out below, no telling how far prices will drop, as there are no REAL buyers of homes (people that take out mortgages) left in the market.

    11th April 2014 at 11:15 am

  4. AWD says:

    Americans Are Starting to Miss More Mortgage Payments

    Credit.com By Christine DiGangi

    For several quarters, lenders have been reporting low and falling delinquency rates for credit card, mortgage and auto loan borrowers, and that positive trend has opened up credit products to consumers with lower credit scores.

    That may be starting to shift.

    A greater share of mortgages were 30 to 59 days past due in the fourth quarter of 2013 than at the same time in 2012, and bank risk professionals expect credit card and auto loan delinquencies to follow suit.

    Growing Concern

    At the end of 2012, 2.05% of outstanding mortgages were at least 30 days delinquent, which was down from 2.39% in 2011. But at the close of 2013, the delinquency rate rose slightly, to 2.13%, according to data from the Experian-Oliver Wyman Market Intelligence Reports. Using Experian’s IntelliView tool to sort the data, the bump in delinquencies appears to be recent, as the 60- and 90-day delinquency rates remain below those of last year.

    Problem Likely to Worsen

    In a survey by FICO of bank-risk professionals, nearly half said they expect delinquency rates on all consumer loans to rise to their highest levels since late 2011. For credit cards, 44% of respondents expected delinquencies to increase, and 35% predicted auto loan delinquencies would jump.

    “We’ve seen concerns about delinquencies creeping up for a few quarters,” said Andrew Jennings , FICO’s chief analytics officer, in a news release about the survey. “These numbers mean more people are gaining access to credit, but we need to keep a close eye on the risk levels of these new loans. If delinquencies reach an uncomfortable level, we may see lenders pull back again.”

    IntelliView showed 30- to 59-day delinquency rates at 0.63% of outstanding credit card accounts and 2.49% of auto loans at the end of 2013. Each was up slightly from the previous quarter but down a bit from the year before.

    11th April 2014 at 1:26 pm

  5. backwardsevolution says:

    AWD – “…almost unlimited almost interest-free cash, deposited into hedge fund accounts by Grandma Yellen. The only problem is they’ve quit buying houses, which leaves only rich Chinese and Russians.”

    Chinese and Russians are the new bag holders, just like the Japanese were in the 80’s. They’re trying to park their corrupt money somewhere (it wasn’t gotten legally, anyway), and they’ll take the loss.

    Easy money in, and then – whoops – easy money out. Same old.

    11th April 2014 at 1:34 pm

  6. Administrator says:

    MW-BZ165_Mortga_MG_20140411141327.jpg

    The mortgage pain is ongoing at the country’s No. 1 and 2 home-loan lenders, with financial results released Friday showing slower quarterly drops for originations.

    Wells Fargo WFC+0.96%, which has the largest chunk of the refinance and purchase-loan market, originated $36 billion of residential mortgages in the first quarter, down a whopping 67% from the year-earlier period.

    Meanwhile, J.P.Morgan Chase’sJPM-3.61% first-quarter originations hit $17 billion, down 68% from the year-earlier period.

    11th April 2014 at 3:54 pm

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