Ilyce's Views You Can Use

Again last week, financiers failed to answer the major question dogging Wall Street: What is the "right" risk model to use for mortgage lending?  The models of the past are being proven to have been wrong. So, why do risk models matter?  Because the basic tenet of lending states that the riskier ...

One of the things new homeowners look forward to is having a yard to call their own. So I get a kick out of asking my clients this question: How big will your backyard be?Some people tell me they want huge backyards so their kids can play with their pets. Some people want very tiny ones so they ...

This is a list of things to steer clear of when you are seeking to obtain financing for a home. The following items may prove to be a detriment when you wish to move forward with the loan process. Don't buy or lease an auto! Lenders look carefully at your debt-to-income ratio. A large payment su...

Another day, another batch of Gloom-and-Doom stories in the news.  Remember to keep a level head -- the media's job, in part, is to sell newspapers and capture eyeballs.  Using the word "crisis" repeatedly is one way to meet that goal. A few facts to keep it all in perspective: There are still BI...

As we discuss over and over again, mortgage interest rates are determined by the price of mortgage bonds.  Nothing else, and nothing more.  The challenge in that truth is that mortgage bond pricing is not very accessible to the general public.  This includes the press. As a result, the media tend...

I recently learned of a loan officer who does business only with people who refer his business. Long story short, he reminds the owner of busineses he frequents that 1) he is a mortgage lender and 2) since he gives them business by patronizing their establishment, he "expects" them to give him th...

Industry trade magazine Inside B&C Lending pegs the 2006 dollar volume of new sub-prime loans at $640 billion.  According to the Real Estate Charts chart (exhibit 18), 78% of those dollars were in 2-year adjustable loans. A loan of this variety is often called a 2/28 ("two twenty-eight"). A 2/28 ...

As homeowners insurance premiums rise across the nation, Bankrate.com writes a helpful story on ways to keep your premiums down.  The tips may surprise you. Some of the highlights include: Don't think a series of small claims is better than one big claim.  The smaller claims are more expensive to...

It's been on the news a few times lately, so let's address a key misconception about the Fed and its relationship to mortgage rates. The markets now anticipate that the Fed will lower the Fed Funds Rate within the next 45 days.  As a mortgage rate shopper, there's not much reason to be interested...

You are invited to the biggest party of the summer!What:    Belair-Edison's Block Party in the Park. Featuring fun activities, community-based exhibitors, tasty food, and live music by Rush Hour Band. Recognizing the outstanding work of exceptional blocks, residents, youth, and community leaders ...