Posts Tagged “Unintended Consequences”

News Sources wrote an interesting post today on
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In the days ahead, will the private Mortgage-Backed Securities (MBS) market cease to exist? Will loan modifications wind up destroying the long-standing playing field between lenders and second lien holders? Will the Fed ever be able to exit the mortgage market? These questions have all come to mind because of unintended consequences brought on by the Making Home Affordable Modifications program. The program that was structured to assist failing homeowners has managed to create a host of unc

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News Sources wrote an interesting post today on
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News reports suggest that the Obama administration’s “Cash for Clunkers” program has been an unalloyed success. Eligible for a rebate of up to $4,500 if they trade in their old (but not too old) gas-guzzlers, it is not surprising that the owners of qualifying vehicles have rushed to their local auto dealers to claim the subsidy. Automobile manufacturers apparently are hard-pressed to fill the resulting increase in demand for newer, more fuel-efficient cars, which exhausted by the end of the pr

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News Sources wrote an interesting post today on
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The housing crisis has had unintended consequences in the mortgage brokerage business. When the market tanked in 2007, it caused a major consolidation in the mortgage brokerage business both in New Mexico and throughout the Southwest. Today the survivors are thriving.

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News Sources wrote an interesting post today on
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Although it’s just been over one month since the Home Valuation Code of Conduct went live, there’s already some concern that the law — which requires that lenders set up a sort of ‘third wall’ in between lenders and appraisers — has resulted in some unintended consequences, such as randomly assigning appraisers to value areas in which they have little or no expertise. From a story at BigBuilderOnline.com : The new code, a pet project of former HUD secretary Andrew Cuomo, was an attempt to

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News Sources wrote an interesting post today on
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In April, SHB 1621 was signed by Governor Gregoire requiring loan originators employed by correspondent lenders/consumer loan companies to obtain a Washington Loan Originator License by July 1, 2010. The State passed SB647 last summer which had “unintended consequences” causing some loan originators who were regulated by the Mortgage Brokers Practices Act (and therefore licensed) to become defined under the Consumer Loan Act–allowing those LO’s to be “unlicensed”. With the passage of the

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