Morning Briefing: It was easier to get a mortgage in February

by Steve Randall10 Mar 2017

It was easier to get a mortgage in February

Mortgage credit availability increased in February according to data from the Mortgage Bankers’ Association.

Its Mortgage Credit Availability Index was up 0.4 per cent to 177.8, with Government-backed loans seeing the largest increase (2.3 per cent) followed by conforming (0.1 per cent). However, availability of conventional and jumbo loans declined by 2.2 and 4.4 per cent respectively.

"The supply of credit increased as more investors offered affordable low down payment mortgages and streamlined documentation loans guaranteed by the Federal Housing Administration and the Veterans Administration," said Lynn Fisher MBA's Vice President of Research and Economics.

"However, the impact of that increase on the overall index was partially offset by the first downturn in the availability of jumbo credit in a year due to the consolidation of some jumbo programs," added Fisher.


Homeowners’ $763 billion windfall

There was an increase in home equity during 2016 of $783 billion, a rise of 11.7 per cent from the previous year.

CoreLogic says that around 63 per cent of US homeowners with a mortgage saw a rise in equity and a million were lifted out of negative equity. That means that during last year, 93.8 per cent of mortgaged homes were in positive equity.

“Average home equity rose by $13,700 for U.S. homeowners during 2016,” said Dr. Frank Nothaft, chief economist for CoreLogic. “The equity build-up has been supported by home-price growth and paydown of principal. The CoreLogic Home Price Index for the U.S. rose 6.3 percent over the year ending December 2016. Further, about one-fourth of all outstanding mortgages have a term of 20 years or less, which amortize more quickly than 30-year loans and contribute to faster equity accumulation.”

The number of homes underwater in the fourth quarter declined by 2 per cent to 3.17 million, or 6.2 per cent of all homes with a mortgage.


Never say never for Neverland sale

Michael Jackson’s former home has been relisted at a massive discount as the company that bought his debts try again to capitalize on the iconic ranch.

Neverland has been fully restored to its former glory but has lost many of the late singer’s trademarks such as the theme park and its name; it is now back to its previous moniker Sycamore Valley Ranch.

Colony Capital has originally listed the estate at $100 million but the new asking price is the relatively modest $67 million.  For that, a new owner would get 2,700 acres and a 12,000 square foot main house with six bedrooms and attached staff quarters.

The estate is listed with Joyce Ray.


  • by Funding | 3/11/2017 6:45:05 AM

    Dear Sir / Madam,

    We have investors who are interested in financing projects of large volume. The procedures are as follows:-

    1-The client need to send a brief summary of the project. This must include the total amount required for the project, estimated return on investment, mortgage repayment period this must not be more than 15years

    2- The client will need to insure the said project with an insurance company of the total mortgage sum to guarantee the mortgage as collateral.

    3- The interest rate will be libor +1 annually.

    4-Repayment duration will be 15Years + 1 year grace period.

    5 Funding will take approximately 10 banking days from the day you present the insurance certificate.

    6- You will pay us 1% commission after funding.

    If you are satisfied with the above procedures send me a letter of intent writing on your company letter head.

    For further details to go about procuring a mortgage from: Kindly respond immediately to this email:

    Regards, as we await your response.

    Best Regards
    Jacob El - Giovannie
    Senior Project Finance In't Management

  • by alex.k | 3/11/2017 9:13:59 AM

    I have been hearing about BLANK ATM CARD i never know it exist but until i tried my best to look for how i will get money to start up a business and pay my bills, i visited Facebook and some other sites so many times. I saw how people get helped with Blank ATM card from Hacking man called Engineer Jonas i was really surprise but i don't really know what to do so i decided to email Engineer Jonas and i complained to him how i needed money and he reply Yes he is a hacking man of anything, he said he can hack cellphones and Blank ATM and others devices, so I inquired about The Blank ATM Card. I have the faith it is real and it will work because i saw many comments talking about his card. He told me Yes and that it is a card programmed for random money withdraws without being noticed and can also be used for free online purchases of any kind. i was amaze. after doing what he asked, i received my card from DHL with my pin, i rush to try it on the closest ATM machine close to me, It worked like magic i was so happy. I was able to withdraw up to $6000 immediately. This was unbelievable and the happiest day of my life, So far i have being able to withdraw up to $78000 without any stress of being trace and caught. I don't know why i am posting this here but i care about everyone who need financial help should contact him he is the best and kind, please don't fall in other peoples hands who will take your money and not give you card. you can text him 1(201) 374-3588 his email address ( He can help you too and change your life.

  • by Jamie Michaelid | 3/12/2017 11:07:17 AM

    ATM Programat primi gol Card și numerar bani direct în orice mașină ATM
    in jurul tau. Nu există nici un risc de a fi prins, deoarece cardul a fost
    programate în așa fel încât nu este urmărit, are de asemenea o tehnică
    care face imposibilă pentru CCTV pentru a vă detecta și doar tu poți
    retrage o sumă totală de $ 5.000,00 USD într-o zi. Acum ne e-mail astăzi prin (
    ATMENGINEER160@GMAIL.COM) și de a obține cartea de astăzi și de a trăi acea viață de lux
    tu fiecare vis să mă prin e-mail sau telefon ( 16627980936


Is TILA-RESPA a good or bad thing long term?