Mortgage Mess Still Mires Housing Recovery

LoganMohtashami | Feb 13, 2013 11:52 AM ET 3.75% kill rate for the Mega Refinance boom we have had here in the US for decades. Spanish Default trade last year on the 10 year marked to top in bond and low in yield. loganmohtashami/2013/02/08/highway-to-the-danger-zone-for-refinances/ Did a loan profile for last year purchases and if rates just normalize to 6% 39.6% of purchases wouldn`t qualify if home prices stay the same and capping DTI out at 43%. Anything above 43% ... you shouldn`t be buying a home Logan Mohtashami

LoganMohtashami | Feb 13, 2013 11:59 AM ET "Overlapping regulations keep responsible young families from buying their first home," Mr. Obama said. Not exactly a new sentiment, as the Chairman of the Federal Reserve, Ben Bernanke, has said the same thing several times, as have other federal regulators. Both of them are clueless on this. FHA was allowing 3.5% down payment loans with 620 Fico Scores and DTI up to 50%.. How can you ease from that?!?!?! We have a DTI and Liquid Asset Problem not a tight lending standards problem. It`s bad enough the FED is inflated assets again but this shows how both of them have no one idea what the Hell is going on! Logan Mohtashami

Harryjh | Feb 13, 2013 12:06 PM ET Hi All: The housing brain trust has no idea of what problems are facing the the Real Estate Industry. Finance and sales are subject to appraisals. Short sales and bulk REO sales are causing major problems for appraisers. This statement "...evidence of homes selling very quickly after entering the market," says Bob Walters, does not recognize the serious short sales issues and the sqatters in possession of lender delinquent loans. If the real estate owner can stay in the home without making a payment to the lender, why would that home go on the market. The economy and the ever increasing unemployment rate will continue to cause a down turn in real estate sales and refinancing. Harry Jensen CA DRE Lic.# 00532825 NMLS ID #236752 NMLS Company ID #357085

JRFool | Feb 13, 2013 02:05 PM ET First time buyers are largely earning near the poverty level and their DTI is prohibitive for a house loan. Cash investors are propping up this market and lenders are playing to them. They are the only game in town. Only by growing jobs, and allowing business to operate stably and with minimal government restrictions will they add jobs and pay employees more, which will then set the stage for the housing market truly recover. No chance of that happening anytime soon.

Gabsby | Feb 13, 2013 02:18 PM ET In one breath Diana tells us Heloc`s are back cnbc/id/100446233 and the party is heating up for the next bubble With the next she is telling us Housing is MIRED as in STUCK IN THE MUD of the last crash which would seem to prevent bankers from rushing to loan more $$$ for a depreciating asset. I feel whipsawed...

peroskar | Feb 13, 2013 02:34 PM ET mr logan m, you should have your own website...oh wait, mr jensen you are the peter shiff of real estate, I have hard on for mr schiff, finally Great Gatsby, diana can do what she wants, she is so hot I would live in the sewer just to .....carry on

Earth_Scientist | Feb 13, 2013 03:34 PM ET Communities might have to implement covenants to prevent flippers/investors from borrowing money from The Fed and then buying swaths of cities. Flipper/investor activity is restricting supply. Prices are already well above the 3x median income that is sustainable, i.e. customers can actually afford to make the payments some day. We really need to see sales volumes rise, NOT sales prices, for a housing recovery.

handballforlife | Feb 13, 2013 03:38 PM ET Your getting street money into the mortgage business...they`re buying the houses cash with the billions they made in this fraud you call a stock market....just the Feds are stupid enough to buy mortgages....wait for the real crash

uglyfish | Feb 13, 2013 08:38 PM ET the only reason that the housing market and the economy hasn`t recovered is that the banks are not lending. it is next to impossible to get a mortgage without pristine credit, a great job and a large bank balance. some might say that this is how things should be, but remember that the banks are only lending out money/debt that was/is created by the state. perhaps the government should create a lending institution.

LoganMohtashami | Feb 13, 2013 09:49 PM ET @uglyfish Over 90% of residential Lending is done by government backed agencies Freddie, Fannie and FHA So there is your answer






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Mortgage Mess Still Mires Housing Recovery

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