Kevin Rhodes's (kevinr3d) Blog

Have you ever had a borrower with only one or two FICO scores or a borrower who has yet to establish a credit profile?  Well, if you have then you know how challenging this can be when attempting to secure a loan through conventional means.  When using FHA financing you can build alternate forms...

For Week Ending: March 23, 2007 Seasonally Adjusted Total Mortgage Activity: Down 0.2% MBA Market Index Now: 671.0 Index One Week Earlier: 672.1 Unadjusted Basis Total Mortgage Activity: Down 0.2% One Year Ago: Up 16.6% Seasonally Adjusted Refinance Activity: Down 0.5% Index Now: 2197.7 One Week ...

On September 6 The federal Housing Finance Agency (FHFA) took control of both Fannie and Freddie, which forced out management after finding that their capital reserves were too low.  This then prompted them to redetermine the value of the company's assets, which in turn slashed the company's net ...

According to the weekly Mortgage Bankers Association data, mortgage applications were down more than 20% for the week ending November 5, 2008.  Refinance business was down more than 25% from a week earlier and purchase business down nearly 14%.  Below is a recap of the numbers. Seasonally Adjuste...

With more than $300 Billion in its coffers to lend via the FHA, the Hope for homeowner program has resulted in a  total disatser.  In july of this year the H4H program was thought by many to be the key to the stabalizing home prices and curbing foreclosures, but has yet to produce any results at ...

Graph: In Thousands, Mortgage Employment since Jan. 2002Although the rate of job losses in the mortgage industry has leveled since it began dropping precipitously last fall, industry employment has declined for more than 13 consecutive months.The Bureau of Labor Statistics (BLS) reported 360,100 ...

Freddie Mac announced today that it will purchase $20 billion in fixed-rate and hybrid ARM products that will provide lenders with more choices to offer subprime borrowers. The products, currently under development by the company and slated to be introduced by mid-summer, will limit payment shock...

Graph: Average 30-year Fixed-Rate Mortgage since Jan. 2005Week Ending April 19, 2007Average 30-year fixed-rate mortgage04/19: 6.17%04/12: 6.22%04/05: 6.17%03/29: 6.16%03/22: 6.16%03/15: 6.14%03/08: 6.14%03/01: 6.18%One Year Ago: 6.53%Average 15-year fixed-rate mortgage04/19: 5.89%04/12: 5.90%04/0...

The number of foreclosure filings was up 7% in March as Nevada reported the highest state foreclosure rate for the third month in a row with a 29% monthly increase from February, according to RealtyTrac.A total of 149,150 foreclosure filings were reported during the month, up 7% from February's r...

 Graph: In Thousands, Mortgage Employment since Jan. 2002Mortgage employment statistics began to reflect the growing number of closings and scale-backs in the subprime industry.The Bureau of Labor Statistics (BLS) reported 489,200 full-time mortgage positions in the month of January.Employment re...