Tag Archives: Lending

Rand on Real Estate: Questioning Banks’ Current Lending Standards

18. Oct, 2011 0 Comments

Greg Rand (@gsrand, CEO of OwnAmerica, and host of “Rand on Real Estate” on 770 WABC, discusses with a caller the reality that banks are not tightening their lending standards; they are just following the standard…

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REALTORS® to Regulators: Narrow QRM Definition Not Necessary to Assure Safe, Sound Mortgage Lending

07. Aug, 2011 0 Comments

RISMEDIA, August 3, 2011—A proposed rule by federal regulators to impose a minimum 20 percent down payment, stringent debt-to-income ratio requirements and rigid credit standards will deny millions of Americans access to safe, low-cost mortgages, according to the National Association…

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Maybe You Should Sell Yourself Short….

02. Jun, 2010 0 Comments

“Banks have ramped up short sale approvals,” said Duane Legate of House Buyer Network, which connects short sellers with buyers. “They’re hiring a lot of the people who once worked in the mortgage-lending industry and moved them over to short sales.”Read more
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I Don’t Care How Good of a Customer You Have Been… Jump Through This Hoop!

17. May, 2010 0 Comments

RISMEDIA, May 1, 2010—(MCT)—As a consumer with good credit and a 10-year history of paying his mortgage on time, Ed McLaughlin expected that his record would put him in good stead with his bank.

But when he approached his lender, Charlotte, N.C.-based Bank of America, about refinancing his existing mortgage or qualifying for a new loan, McLaughlin felt like a brand-new customer just off the street.

“They said new banking laws required that I jump through all the…

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