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Author: Gene Amromin (au)
Publisher: DIANE Publishing
Keywords: mortgages, complex
Number of Pages: 57
Published: 2011-08
ISBN-10: 1437987850
ISBN-13: 9781437987850

CM became a popular borrowing instrument during the bullish housing market of the early 2000s but vanished rapidly during the subsequent downturn. These non-traditional loans (interest only, negative amortization, and teaser mortgages) enable households to postpone loan repayment compared to traditional mortgages and hence relax borrowing constraints. But, they increase household leverage and heighten dependence on mortgage refinancing. CM were chosen by prime borrowers with high income levels seeking to purchase expensive houses relative to their incomes. Borrowers with CM experience substant
35661

Author: DIANE Publishing Company
Publisher: DIANE Publishing
Keywords: obtain, home, mortgages, people, helping, fha, role, homeownership
Number of Pages: 126
Published: 1996-12-01
ISBN-10: 0788136682
ISBN-13: 9780788136689

Reviews the role of the Federal Housing Admin. (FHA) in providing mortgage credit to home buyers. Specifically, this report discusses: (1) the terms of the mortgage insurance offered by FHA, private mortgage insurers, and the U.S. Dept. of Veterans' Affairs; (2) the characteristics of borrowers of insured mortgages and the overlap between FHA-insured mortgages and privately insured mortgages; and (3) other methods used by the federal government to promote affordable homeownership. Of the 3.5 million home purchase loans made in 1994, FHA insured 15%.
19443

Author: Mathew J. Scire
Publisher: DIANE Publishing
Keywords: changes, developments, market, increased, borrowers, huds, risk, lenders, mortgages, policy, positive, effects, revere
Number of Pages: 54
Published: 2010-02
ISBN-10: 1437920098
ISBN-13: 9781437920093

Reverse mortgages -- a type of loan against home equity available to seniors ż are growing in popularity. A large majority of reverse mortgages are insured by HUD under its Home Equity Conversion Mortgage (HECM) program. The Housing and Economic Recovery Act of 2008 made several modifications to the HECM program, including changes in how origination fees are calculated and an increase in the loan limit. This report examines: (1) how these changes have affected lendersż plans to offer reverse mortgages; (2) how the changes will affect borrowers; and (3) actions HUD has taken to evaluate the f
3826

Author: William B. Shear
Publisher: DIANE Publishing
Keywords: mortgages, nonprime, performance, characteristics
Number of Pages: 57
Published: 2010-01
ISBN-10: 143791988X
ISBN-13: 9781437919882

In dollar terms, nonprime loans accounted for an increasing share of the overall mortgage market, rising from 12% in 2000 to 34% in 2006. Over this period, the dollar volume of nonprime mortgages originated annually climbed from $100 billion to $600 billion in the subprime market. However, these market segments contracted sharply in the summer of 2007. This report examines the evolution and condition of the nonprime market segment. It discusses: (1) trends in the loan and borrower characteristics of nonprime mortgages originated from 2000 through 2007; and (2) the performance of these mortgage
7347

Author: Yuri K. Shestopaloff
Publisher: AKVY PRESS
Keywords: introduction, annuities, mortgages
Number of Pages: 205
Published: 2009-11-10
ISBN-10: 0980966787
ISBN-13: 9780980966787

"Mortgages and Annuities: An Introduction" by mathematician Yuri K. Shestopaloff was specifically written and designed for undergraduate students, their teachers, and financial industry specialists needing a solid grounding in the mathematical foundations and computations associated with the development, implementation, and interpretation of financial investment instruments and their underlying formulas that are commonly associated with the purchase of buildings and investments for retirement. Informed and informative, "Mortgages and Annuities: An Introduction" is replete numerical examples, e
54679

Author: Matthew J. Scire
Publisher: DIANE Publishing
Keywords: improved, need, controls, over, borrowers, counseling, underscore, issues, product, mortgages, complexity, consumer, protection, reverse
Number of Pages: 80
Published: 2009-12
ISBN-10: 143791859X
ISBN-13: 9781437918595

Reverse mortgages -- a type of loan against the borrower's home that is available to seniors -- are growing in popularity. However, concerns have emerged about the adequacy of consumer protections for this product. Most reverse mortgages are made under the HUD Home Equity Conversion Mortgage (HECM) program. HUD insures the mortgages, which are made by private lenders, and oversees the agencies that provide counseling to prospective HECM borrowers. This report examines issues and federal activities related to: (1) the potential benefits and costs of HECMs to borrowers; (2) misleading HECM marke
10080

Author: Breck L. Robinson
Publisher: DIANE Publishing
Keywords: housing, foreclosure, cycle, current, homes, non, owner, occupied, role
Number of Pages: 70
Published: 2010-10
ISBN-10: 1437935478
ISBN-13: 9781437935479

Non-occupant homeowners (NOH) differ from owner occupants in that they tend to have lower-risk credit characteristics, but may also have weaker incentives to maintain mortgage pay. when housing values fall. During the recent housing boom, the share of mortgage borrowing by NOH was relatively high in states where home values rose rapidly. After the housing boom, foreclosures on NOH mortgages in several Midwestern and Northeastern states reflected a high rate of foreclosure per mortgage, not a high vol. of mortgages to NOH. The reverse held true in coastal and mountain states. NV and FL have exp
5703
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