Scott Skinner's (scottskinner) Blog

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Mortgage and Lending - Liberty One Lending
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The Federal Housing Administration announced FHASecure, a temporary initiative to permit lenders to refinance delinquent adjustable rate mortgages (ARMs) and/or to offer new subordinate financing where the combined loan-to-value ratio exceeds the applicable FHA loan-to-value ratio and geographica...
10/14/2008
I strongly believe, amidst all the negative news surrounding Real Estate, there is something significant being overlooked; and that is the reduced risk to lenders to loan on lower valued houses. Let me give you an example. let's say that in 2001 a home priced at $200K would obtain and 80% loan fo...
10/14/2008
Pending home sales rose 7.4 percent from July to August, an unexpected piece of positive news for the battered U.S. housing market. The National Association of Realtors said Wednesday its seasonally adjusted index of pending sales for existing homes rose to 93.4 from an upwardly revised July read...
10/08/2008
I am from AZ, so by default we are John McCain fans.  However, I am not that confident of his housing recovery solution. The skeptics agree that If the government buys these worthless mortgages, it would have to pay far more than they would ever be worth, housing specialists said Wednesday. That ...
10/08/2008
With the recent meltdown of the sub-prime section of the lending industry and re-setting of adjustable rate mortgages, there is now, more than ever, a call for more and more disclosure of how the industry operates, detail of loan structures, broker payments and rate transparency. I need to point ...
10/08/2008
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In a historic moment of worldwide solidarity. .... Central banks around the world cut interest rates on Wednesday in their first broadly coordinated monetary policy action in history, as fears of a deep recession banished recent worries over inflation. In an attempt to stem the worst global finan...
10/08/2008
  After the news of a coordinated worldwide cut in interest rates failed to alleviate fears about a global recession.  Stocks fell for a sixth straight session on Wednesday, With Wednesday's decline, the blue-chip Dow Jones industrial average has lost 14.7 percent in the last six days -- its wors...
10/08/2008
The Federal Reserve announced a radical plan in a dramatic effort to break through a credit clog that is imperiling the economy. The Federal Reserve, invoking Depression-era emergency powers, will buy commercial paper, a short-term financing mechanism that many companies rely on to finance their ...
10/07/2008
Oil dropped more than 6 percent to below $88 a barrel on Monday as a global market rout churned concerns that faltering fuel demand could slow further. U.S. crude settled down $6.07 at $87.81 a barrel after hitting an eight-month low of $87.56. Crude prices have plummeted from a peak over $147 a ...
10/06/2008
Wall Street suffered through another extraordinary and traumatic session Monday, the Dow Jones industrials plunging as much as 800 points -- their largest one-day point drop -- before recovering to close with a loss of 370. The catalyst for the selling, which also took the Dow below 10,000 for th...
10/06/2008
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