- The Loan ‘Shopper’ from Hell
In the lending business, there is a term called a “shopper” to describe a person who is calling every lender in town to find the best deal on a loan. Experienced lenders can usually spot a ‘shopper’ a mile away, while more inexperienced lenders are easy prey. Many times a ‘shopper’ will pretend that the lender is their only lender, while he or she is working with half a dozen lenders at the same time.
- DeMarco Pushes Housing Finance Reform as Fannie Profits Soar
(Bloomberg News) - Fannie Mae (FNMA) and Freddie Mac, the two government-seized mortgage financiers, appear increasingly likely to pay billions of dollars to the U.S. Treasury, focusing attention in Washington on what should replace them.
- Hedge Funds are Fueling Foreclosure Inflation
Though hedge fund purchases on a national level have had minimal impact, in the nation’s hottest foreclosure markets hedge funds, or institutional investors, are contributing to double digit foreclosure price increases and dramatic declines in REO inventories.