18 Burst results for "fannie freddie"
"fannie freddie" Discussed on KNST AM 790
"Months. Bank statements to Prove so. If you say you're making, for example, 10,000 month in income, you've gotta show $10,000 a month and deposits on your business bank statement. So you write an audit and unaudited P N l But it has Tio match What's in your bank statements? And then you have to sign a letter saying, you know how your business has been affected by Cove. It And I find this a bit ridiculous because everyone's business been affected by cove in and So, But these are the Fannie Freddie rules that are there for self employed borrowers. And I don't think we in the business in the mortgage industry went far enough explaining these new hurdles because I'm hearing it. Not just from, you know some of my borrowers, but I'm hearing it from loan officers around the country that Oh, wow. You know, someone that should easily qualify is now having a difficulty because of this business, and we've seen the same thing Jerry with people that were actually Getting loans on bank statement, You know, Loans Bank statement approved loan so they don't have a W two and the minute covert hit those loans just evaporated. The loans on manufactured housing, you know, had during the recession. They disappeared for several years, and then they were back. And it was really easy to go get a manufactured home loan. And now those are very hard to find an equity lines. Um, I had a borrower that wanted to take out an equity line up to 90% and called me this week and we don't do them. We just outsource, um But I spent a great deal of time this week researching, calling banks and credit unions all around to try and find who goes above 80%. Some banks have stopped doing equity lines altogether..
"fannie freddie" Discussed on NewsRadio 1080 KRLD
"That might brought up a question that we've had over the weekend that is jumble right when people talk about jumbo rates than that that's not a loan to me because I'm a jumbo kind of guy but jumbo rates are what loan amounts and then what what's the difference in a jumble rate junglewager only for big elements may that that they are not alone in that number alone is anything over five ten three PD which is informing but one hundred ten thousand Avenue around three fifty up is conforming with Fannie Freddie and that sort of thing but said Jemma right you're anywhere from again depending on Chris for little bags that they fired up the credit scores on those quite a bit and they also lowered the low LTV loan to value they wonder woman's now just give me a minute a number before we got married three and a half percent on a thirty year fixed and then credit score bottom and what well it depends because you go down to six sixty six eighty on jumbo loans but the writer actor writer I mean I do credit scores of vacant everybody out out out I've said this for fifteen twenty years on the radio that your credit score is very very poor not obvious from Morgan more you would insurance everything else I mean everything's great background score so if you've got good credit but you know the check until about two months ago you could buy a house with ten percent down on state income in other words just a praise your bank statements at a ferry road right right if those programs are disappears now lots of stuff to think about a lot of stuff to talk about you want to talk about jumbo rates you want to talk about little baby rates have a.
"fannie freddie" Discussed on KOMO
"Cooling down upper fifties to low sixties that's the latest from the cold weather center maneuver the road real estate now back to St talk with Chris Davies thanks so much for joining us we're talking all things real estate the last week we spent a lot of time talking about full parents and the idea of unintended consequences you're given the opportunity often is not really the right word but given the if you're facing a hardship you're given the opportunity where you don't have to make payments during the hardship time and it became apparent that because of the rules and because of the rules that Fannie Mae and Freddie Mac that you may not be able to refinance by if you're in forbearance for up to twelve months well they actually check they actually came out with the rule which is good so open communication if you're if you're actively in forbearance once that's been terminated and you've made three on time payments all three three continue it could continuous payments you are then eligible to refinance or to go out and buy and you know given what's going on the there are quite a few people sit there seems to be a lot of chatter about people wanting to potentially move maybe move out to the suburbs and the move out of the city but you know those those old theories what do you what's your take on that CC email out to all of us this week you're the first one to jump on this new roles and I think it's finally common sense has come into some government roles I mean you know what is the one of the biggest lies ever told is you know I'm here from the I'm from the government and I'm here to help you tend to not be the truth but in this case at least there was some commonsense roles that I think makes sense for people that are in forbearance to to pay back and and get back on track and keep them in the real estate market very smart well the number is actually the numbers are staggering when you start to look at it the loans in forbearance just to give you some statistics Fannie Freddie loans it and forbearance one million nine hundred and sixty four thousand.
Here’s what you need to know about paying your rent or mortgage
"So we talked a lot about the P. P. P. over the last couple of days the payroll protection program trump suggesting yesterday that he once said two hundred fifty two or fifty billion dollars to that the loan forgiveness program for small businesses what about individuals who are wondering about how they're going to pay their mortgage as they're waiting for the disaster relief checks or for unemployment insurance benefits to kick in for a discussion about the mortgage business we're pleased to be joined by our friend David hopper vice president lending of team Hochberg and home side financial David thanks for joining us appreciate it thank you ram appreciate the opportunity so thinking about people in financial distress or certainly concerned about being in financial distress in the not too distant future depending on how things transpire what are some of the questions you're getting in the recommendations you're making to people yeah well again thanks a lot for the opportunity your listeners are gonna fall into fort Meade a mostly four categories one there you're gonna have a party mac clone they're either going to have Fannie Mae Freddie Mac and will throw three categories trying to be pretty back FHA or VA okay Fannie Mae Freddie Mac allow your listeners and the easiest way to find out guys is to just call the eight hundred number on your mortgage statement and call them up and ask them if you have a female Freddie Mac FHA loan if you have a VA loan you you most likely would not be a long serving in our military or our a surviving spouse what what cleaning may forty mac have have issued rules that their servicers can allow up to twelve months of forbearance here's the biggest challenge though a forbearance is when a borrower can differ mortgage payments without any late fees or down any hits on the credit the challenges it's up to the servicer the person that has your mortgage that you're writing your mortgage thank you to make that determination what they've said is spinning the forty mac and come out and said is if you call them and state that you're having economic hardship economic challenges due to corporate nineteen coronavirus they will put you into a forbearance without any issues here's a challenge with Randy for Fannie Freddie rules state that if they put you to a three month of forbearance for example if you call today you could defer your April may and June payment but come July what your listeners to allow listeners don't realize come July first when the to my mortgage payment is due they want the ninety days of deferred payments as well so that's a major challenge and I called up my servicer who is chasing set what happens if listeners borrowers can't make that hundred twenty days worth of payments obviously they're going to permit into forbearance because we've got challenges he's like well they have to call back again they're not gonna make it easy for you you have to call back and either ask for another forbearance for loan modification at that time but see anybody Freddie Mac rules clearly state in a recent letter that they sent out to all other other servicers that farmers can get up to twelve months worth of errands now on the FHA rules FAQ role is completely different and this is important for your listeners to understand if you have an FHA rule FHA wrote FHA will allow six to twelve months worth of forbearance so they'll give you six blocks at a time but again you have to call your servicer who is the company that you write your checks to and request forbearance now the difference between winning may Freddie Mac and FHA the FHA has stated after the twelve months worth of forbearance they will allow you to allow farmers to add a second loan with zero percent interest on the backs all the missed payment you made for the six or twelve months there will be a subordinate loan added at zero percent interest that no penalty to the borrower that will be paid off when you either refinance or sell your home the T. and there hasn't been any rules released yet for VA loans Ross I would I I would you'd you know share that with you listen it's a constantly moving thing right now and we're trying to stay ahead of it the best we can why are they offering forbearance for six to twelve months is that an indication about how long they think this may last sort of a hedge what will it be pretty macros of Fannie Mae and Freddie Mac is already have forty wrote written rules for their servicers to offer up to twelve months which means you know what they know okay that is it's going to be this is war I'm not trying to freak your listeners out but I I survived nine eleven I survived oh wait and I'm telling you right now eight we had what may be seven to eight hundred thousand people unemployed which was a huge hit to the economy you're you're talking twelve fifteen twenty times that number so what Fannie Mae Freddie Mac FHA are doing is trying to get ahead of it so you don't have bar were standing around the corner at the gymnasium is trying to do loan modifications like they did in a weight which is a complete
"fannie freddie" Discussed on Bloomberg Radio New York
"You so much for that we look at some of the stability that we're seeing in certain markets in the surge in U. S. equities and there is still a huge question mark around the mortgage market really a huge pain as we see it funds including invesco mortgage capital the latest saying that they are unable to meet margin calls as the value of mortgage debt falls plummets locomotive Shami covering the mortgage market for years senior loan officer at AMC lending tree to HousingWire I want to get your sense login what exactly is it that's causing the incredible pain with the in the housing market within the mortgage market that goes beyond a lot of the other declines that we've seen in other asset classes the mortgage mortgage meltdown really happen when rates collapsed and I think the first thing we have to think about is that the PPO risk early payoff risks just blew out the entire system so what you saw was that mortgage companies cannot afford to push rates lower and daisy I think March ninth we saw about a one percent increase in rates that week even though the ten year yield went all the way down to thirty two basis points the the business of being in the mortgage business basically collapse on everyone so you're starting to see the credit freeze all the non Q. M. mortgage lenders are gone no none of them around our there'd be someone might come back but they're gone Q. and being a QB mortgages eligible for Fannie Freddie no dont you ever those that are outside the Freddie exactly right guidelines so basically the only lender right now is the government everyone is basically a long process for government loans and Freddie and Fannie are still under government groups so they could still function somewhat normal but it was a complete meltdown there's not enough money in the mortgage business to offset the margin calls and I wouldn't be surprised if we have more casualties going out but the fed federal reserve all the sea salt what was going on in the year graphically going back into mortgage backed securities but I'm not sure this is going to and without more casualties in the mortgage industry all right so Logan is there anything in the stimulus plans that there's a house plan as the Senate plan that you've seen that will try to address the mortgage market what we're looking at basically twelve months of mortgage payments not being need to be made if you're part of this coronavirus planned that it facilitates that you can show your job or are you do you don't need not to pay so in the house it's really interesting to see how the market is on fire it is literally the best first two months of the.
"fannie freddie" Discussed on Bloomberg Radio New York
"Ad council influential conversations from Bloomberg television here's Vonnie Quinn on Bloomberg markets. Mae and Freddie Mac more than sixty percent in the past month on hopes the two mortgage companies will excess government conservatorship joining us now from Washington the key voice in the process mark Columbia director of the federal housing finance agency director Columbia thank you for joining us what exactly should we be expecting by the end of this month in terms of an FHFA and treasury combination isn't going to be a letter of agreement on what will be new. so what we're working on more than a month is you mentioned a letter agreement you may remember the current later agreement capture capital it's three billion in the really new part is a much higher number than three billion so it will still be limited but we're looking to come up with a number that will get us through the next year and a half two years in in the interim after that we will reach agreement on changes to the underlying share agreement that allow us to chart a path through Fannie Freddie out of conservatorship do you anticipate that within a year honey and Freddy will be out of government control they're going to be responsible for building capital they're going to be responsible for hating goal posts so what really what we're gonna be doing particularly in the amendments to the share agreement is setting up a bunch of mile markers for feeding frenzy to hit but the the day they're the ones are going to drive down the road here more interviews like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings. headlines breaking news twenty four hours a day. thank you.
"fannie freddie" Discussed on WSJ What's News
"And quote facebook declined to comment and google said it was cooperating with the inquiries quarries do now our main story this morning. The trump administration administration said it would support returning the mortgage lenders fannie mae and freddie mac to private hands. It's a major reversal from what leaders of both parties have been promising that was to abolish polish both the companies. Here's a stat for you fannie and freddie guarantee roughly half of the u._s. Mortgage market charlie turner has been finding out more about the shift aft from andrew ackerman andrew. What is the government's rationale for the process to eventually return fannie mae and freddie mac to private ownership is really two fold. The the first is that when the government put fannie freddie into conservative ship eleven years ago it was supposed to be temporary and they really are serious about finally ending that a lot of people have tried. Everyone's failed to end the conservative. They wanna give it another go. The second reason i guesses more ideological where the administration believes pretty strongly that the government should not play a central role in housing which touches on a huge portion of the economy about fifteen percent of the economy so from what i understand the proposal recommends that federal regulators developed plans to privatize both both mortgage finance giants a plan to develop a plan yeah that seems to be the direction we're headed in is they're not taking positions on specific issues issues like what to do with the government stakes <hes> in these companies but they are sort of saying hey f._h._a. Which regulates fannie and freddie you you guys should develop <hes> capitalization structure. They need capital to be able to stand on their own eventually. They're also saying hey why don't you look at what types of activities maybe we should consider curtailing fannie and freddie i a lot of loans conservative basically questioned why they buy some of along that they'd buy including.
"fannie freddie" Discussed on 860AM The Answer
"Anybody and I remember when baby bush one up to Alaska he had like five million people you're talking to we're gonna of everybody how's he says we're gonna give everybody house now I you said that is because he knew that now they could give people homes that have no credit or should have a home because they kill Fannie and Freddie which they control to make sure you don't take people are just credit scores of seven hundred or more you check the with credit scores of two hundred two fifty we want everybody to have a house this is what we're suffering today this is not China but you know we want to talk about this nobody so the dot com crash at two thousand one cost five trillion plus nine eleven three trade that's nine trillion so now he gets reelected in two thousand four has that debt with it because there's no reset do not agree to think what the fact Hey you go buy a house pick your own payment no money down Barney Frank just set that up with Fannie Freddie by two thousand now two thousand four we have a full blown housing take a while thank well it was all fake wealth remember every thought they're rich he got reelected two thousand six a peach now remember he still carrying the dot com you still carrying the nine eleven you still carrying that money that yet so that's why jobs are being created as fast as they should be because of that debt that kills jobs but yes you have a fake wall the fact everybody feels like you're wealthy and I remember what he did he told everybody take their houses and use a reservation machine he extracted people tractor four hundred billion from their homes you go buy stuff they're not people checking your whole retirement which is your home that's really where your time is not your fault all one K. it's always a home if you think about your parents your grandparents I think about my parents my father okay he would never spent a night my mother they were there both were never go out to dinner my father had to search my mother had like two great crashes that's it any closer they get everything to pay the whole shop that that generation what used to be but he turns around and baby bush won the work presence in the world drought does every go check all the equity of the house now now we have a bigger problem a retirement problem we have one of the biggest retirement problems in history now we get to Obama this is not all this as you do with.
"fannie freddie" Discussed on KGO 810
"The housing market index will be released on Thursday and existing. We'll both be released on Thursday. And we'll also get the fed minutes from January thirtieth. So fed is the one that determines the interest rates. There are going to have a meeting and release their minutes at least from the meeting on Thursday. Mortgage rates have hit the lowest. They've been in probably twelve months at four point three seven percent. Now, this is from Fannie, Freddie, MAC and Fannie Mae. They released this. It is important. And now that does sound like a beautiful interest rate four point seven five percent. Usually when they quote, they say quote with a couple of points. So when you go to your lender, the talk about interest rates, it's not actually going to be that low. But the fact is overall it is as low as it has been in twelve months, so if you're out there, and they're looking to refinance or thinking about taking cash out this week in particular would be a really good one. So I've got a question for you really quickly when it comes to rates now, there's a term that flies around. Sometimes people might not understand it. But when you said that the rate isn't as low as we just talked about or might not be we can't tell them exactly what the rates going to be right? No. We can't credit interest rates going to be turned by so many different things. One is going to be your credit. A lot of these that are priced online that you read. I mean, I go to quicken in particular, and they have the lowest interest rates, but then you go to the fine print, and it's going to say, well it costs you two points. Does that mean if it's five hundred thousand dollar loan size that interest rate that's lower than anyone is gonna cost you ten grand? So they are the lowest. But the ones that are usually out there that you see upfront. They're gonna be teaser rates usually is going to require the best absolute best credit score. It's gonna require forty percent down. And a lotta times they're going to require points. So what if you went there and you wanted to get that lower rate? They have a term called the by down rate so quickly. Tell me how you can buy your rate down. So by down. It's got a lot of different names. It's called discount points. It's called by down essentially as you're buying down your interest rates, and when I say cost two points appoint is just a percentage point. So again, if you have five hundred thousand dollar loan size and the by down rate is one percent. It's gonna cost you five thousand dollars to get that interest rate. Now is it worth it? It depends. You really have to do the math. Typically, we say we like to say that if you can recoup your money within four years, then it's a good investment. Just pay the points. Anything more than that probably doesn't make sense. And the reason why is in California. In particular, people only stay in their loans at the houses, just the loans for an average of five years for a variety of reasons. People take cash out of their home people try to take cash out for home improvements. I'll do it for school people. Refinance people try to get rid of mortgage insurance specifically here in California. People will move. So so many different reasons why people only on average and California state five years. So if you're within that four year period, and yeah, it could make sense to pay your points down some fascinating information. And so let's real quick going to the construction report brought to you by your body construction company. They're great people, by the way, I love to lie to their great. They are highly involved in building the bay area. But one of the projects that has recently been proposed to Burlingame by developer Hanover company is proposing one hundred and fifty homes just two miles from where Facebook has pre-leased their office space Burlingame point. So I mean, it's definitely a strategic and smart move to be that close to Facebook, of course, who wants a commute man, but it's a six story project at one zero nine five Rawlins road, which would consist of thirty five studio apartments, seventy four one bedroom units and forty one two bedroom unit. It's along with almost two hundred parking spaces. And then so yeah, that's a big project that has recently been pitched to Burlingame. I think that's that's really really really big in the news right now, Amazon they were gonna build in New York City. Shutdown or they'd be rejected it or whatever else something like that. The complaints were. They were getting so many tax incentives to come over a billion dollars. It was it was pretty high and one of the counter arguments or one of the arguments for that was while they're going to bring a ton of jobs were promising hundreds of thousands of jobs in the area. Not only from just those jobs, but the jobs around it, you know, there's cafes jobs, there's all housing. So real estate was really for it. So when we talk about this Burlingame one that is a really awesome thing the burlingame's getting because essentially Facebook is right there, and that's going to bring more housing opportunities. More jobs more small businesses for the area. So that seems like a really good place to park money. It is and it looks like what they're proposing is geared towards the millennial type one bedroom units two bedroom units. So it's a good opportunity for people that want to have a space, but not too big of a space. You know, the funny thing is I was talking to my girl last night before we went out, and she's like, I would love to sell my house. But I just don't I can't move anywhere. Mike, we're we're watching that guy. I loved her listed or some sort of TV show. And and we're looking he's big houses. And she's like, I don't want a bigger house. I would rather have a smaller unit. It's funny. How our generation has liked that our our parents generation was kind of more like bigger is better. Right. Who's biggest house on the block? Now. It's like if I can live in it and survive in it. I'm good with it 'cause I can lock my door and keep moving in with life. Yeah. The mindset just changes. Well, and I think partly that's because there's so many things to do outside of your home nowadays, you know, prime example, is all of these outdoor shopping malls, all of these festivals feeds grab fees. There's all these things that people are don't really nice this really need to spend as much time in their house anymore. I think for me one of my favorite things is leaving downtown. I like it because our generation younger generation seems to want to walk places. Yeah. Seems to want to have a convenience factor. And I don't mind a condo. Where I think my parents would get the oh I walked downtown ever all the time in walnut creek. It takes me seven to nine minutes to walk to downtown from my house, by the way, it's way better and faster than driving down. Yeah. It is. But this is brought to you again by Audie construction company. They've been developing the bay area for over one hundred years do grading paving, excavating and all kinds of groundwork. Give them a coffee. You have any questions about any commercial? Development type of work. So we will be right back with a little bit more about down payment. This is real estate radio talk make sure and give us a call eight hundred nine nine eight zero eight.
"fannie freddie" Discussed on 860AM The Answer
"Not getting anywhere else. It's one of the joys of coming to work every day because there's so much that you don't get in the mainstream media. I saw news report the other day that said that the government shutdown cost cost the United States five billion dollars. I thought the the news anchor who was reading it was going to break down into tears. I really thought it was gonna start sleeping on air five billion dollars Meaney Donald Trump with his government shutdown. So here's some news. They just released the data earlier just moments should go about private companies and jobs in the month of January. So you'd say, oh, there's this terrible. Terrible. You know? Blight on our economy as a result of the president fighting tooth and nail for border security and a wall. Right. Well, not so fast. Breaking now on the Mike Gallagher show. Private payrolls actually grew in the month of January at a much faster pace, then expected the labor market apparently completely unaffected by the the government shutdown data released earlier by ADP and Moody's analytics shows that private companies added two hundred and thirteen thousand jobs this month. Economists expected payrolls to grow by hundred seventy eight thousand once again, we've got more great economic news. Remember, the president coming down the escalator in Trump Tower, promising jobs jobs jobs, Mark Zandi, the chief economist at Moody's analytics analytics said the job market weathered the government shutdown. Well, despite the disruptions businesses continued to add. Aggressively to payrolls. It's kind of stuff you're not gonna hear on world news tonight with David Muir. I'll bet but you're the New York Times is going to spend a lot of time on that Washington Post all the rest of them CNN. Don, lemon won't be devoting. A whole lot of time tonight to the fact that companies in America added more jobs than expected once again setting records breaking expectations. How many times have we seen that in the Trump administration over and over and over again part of the many accomplishments of this presidency. And again, these are facts, I'm not making this up. I'm not I'm quoting here from CNBC just came over the over the online. This is the this is part of the battle that we're up against this is part of the fight we face, and incidentally, there are many many people who are texting us you send the keyword Trump to one eight.
"fannie freddie" Discussed on 860AM The Answer
"LA desma, long-term US mortgage rates ticked up this week for the second consecutive week mortgage or buyer, Freddie, MAC says the average rate on the thirty year fixed rate mortgages rose to four point five. Four percent. That's up from four point five to last week. Long. Term loan rates have been running at their highest levels in seven years amid the booming economy. Breaking news and analysis at townhall dot com. Kind of a creepy day on the job for some San Antonio police officers Val deore reports from the funded look like a nice need home. But then side was a different story after a tip animal care services in San Antonio, Texas executed, an animal cruelty search warrant in southeast San Antonio Wednesday and found a large number of snakes more than one hundred along with three to four hundred rodents used as food for sakes. Most bet is Val deore reporting, a New York judge says pictures of mice lounging around on an anti wrote in device are reason enough to allow a lawsuit to proceed against a company that sells them a group of consumers saying devices are completely useless the device which plugs into it electrical outlet is supposed to repel, mice rats spiders, roaches at other pets. But the pictures used in the judgment yesterday in a courtroom shows, mice congregating beneath the device send even one sitting resting comfortably on top of it. More on these stories from townhall dot com from Washington, I'm Bob Agnew. This is today's entertainment answer. What is our family movie of the week? It's the PG rated God bless the broken road from the director of God's not dead. It tells the story of a young mother who loses her husband in Afghanistan and struggles to raise their young daughter in his absence, emotional and a strong reminder of the importance of faith and church family. It's a down home film with lots of.
"fannie freddie" Discussed on WINT 1330 AM
"Here's correspondent Charles de LA desma in sections of it Suma way hillsides had collapsed. Rescue is using small backhoes and shovels to search for survivors. Under the tons of us that tumbled down the mountainside burying houses and farm buildings without the areas, deep green hills have been marked by screen gashes with the soils and loose onto the violent tremors. The town's mass says the time has emergency meals for up to two thousand people that more than five hundred had sought refuge in the emergency shelters. I'm Charles de Ledesma long-term US mortgage rates ticked up this week for the second consecutive week mortgage. Fire back says the average rate on the thirty year fixed rate mortgages rose to four point five. Four percent. That's up from four point five to last week. Long. Term loan rates have been running at their highest levels in seven years amid the booming economy. Breaking news and analysis at townhall dot com. Kind of a creepy day on the job for some San Antonio police officers Val deore reports from the front it look like a nice need home. But then side was a different store after a chip animal care services in San Antonio, Texas executed, an animal cruelty search warrant in southeast Santona Wednesday and found a large number of snakes more than one hundred along with three to four hundred rodents used his food for sake smoke that is Val deore reporting. A New York judge has pictures of mice lounging around on an anti wrote in device or reason enough to allow a lawsuit to proceed against a company that sells them a group of consumers saying the devices are completely useless, the device which plugs into it electrical outlet is supposed to repel, mice rats spiders, roaches at other pets. But the pictures used in the judgment yesterday in a courtroom shows mice congregating beneath the device shunned even once sitting resting.
"fannie freddie" Discussed on The Axe Files with David Axelrod
"So why would you think that cutting the corporate tax rate up a bit more would do it and then two, if you're of the view, they're, they're kind of two world views on where growth comes from. And one world view says it's about the absence of government, and if you would just get rid of every regulation and get in get rid of all taxes, then the private sector will just general acrylics would I have colleagues would argue that and there's some elementary, but I think a major puzzle to people espouse at worldview. Is how to explain why Silicon Valley, for example, is in California where they've always add Texas, they've always had I regulations and it's not on the island of Vanuatu where I think they don't have any taxes of any kind of corporation capital actually vacation. They're in love. I'll say that. And then the audiences there'd be people come up, where is this. But you know the my world view is silicon valley's in California, not because it's cheap, but because they can't afford to be somewhere else. That's where the. Is is where the people are. And and so if you cut the taxes by so much that you can't afford to invest in your people, you're actually killing yourself and in the same as true on regulation. Look when we were there sweating bullets thinking through the financial crisis. I thought at that time the the one sober lining here is that the argument that always in everywhere deregulating and ripping up the rules of the road is good for the economy that'll be dead. These the events of the financial crisis proved that wrong, and it wasn't two years after the financial crisis there back. They're saying the same thing we need to deregulate. You've seen the administration, get rid of. You'll hear from friends of both of ours in this debate is that it was. It was really the the. The fanny Mae and Freddie that led the market down the it was the government sponsored. Yeah, you know, everybody wants to be accountability for somebody else and with Fannie Freddie, I'm an economist. You're never gonna find economists who who put value on Fannie and Freddie business model. And if we reinvent them the way they were before shame on us, and they should never socialize losses while keeping all profits for yourself. That's a, that's a terrible idea. And it ends exactly the way this one ended. Now that said. A the. There was a year. That the Cleveland Browns went on sixty and. I guess maybe they had the worst kicker in the NFL and yeah, look, bad kicker. Ninety might cost him a few games. This is like blaming their own sixteen season all on the kick. Okay. So the Fannie and Freddie are partly at fault and banks that engage in fraudulent loans are fault and people who took out mortgages that they had no business taking out our fault. And there are a whole bunch of players that contributed to making that horrible financial crisis. But the argument that if we would just if we. If we had less regulation than things will work better with. That's that was obviously not..
"fannie freddie" Discussed on 1170 The Answer
"So when you sit down with them for talked him on the phone you got like you said two hours free you give him the pros and cons about an llc an escort because i know sometimes it's better go escort sometimes better go llc or even i know review your tax returns recently l l p right and i know there's different reasons for everything i don't go into too much detail on each one but those are things that he true irs consultant expert like yourself peter rodman can actually help people make that decision along with probably what a good a good attorney that helps put those documents together is that something your team does we have an attorney handled the legal work for sure and so we have a chance to consult with these people you can follow the two classes people who want to acquire real estate and the people already have it in for the sake of this discussion has got two different ways to go to different set of rules if you will okay now here's something that i've seen a lot of people make a mistake in doing and kyle you'll like this airbnb right everybody pretty much now knows what airbnb is like that i think if i mentioned that i think ninety nine percent of people will know what airbnb is and airbnb owns no property yet they ran out more rooms and more homes every night every month every year then marriott hilton combined right like airbnb is taking off a lot of people of course now live in their property part time and so they're like wow i live here in san diego maybe even out in the desert like my in laws what better go ahead airbnb my property but a lot of people don't realize the financial guidelines that fannie freddie fha and va mortgage lenders like myself look at they don't really have a place for airbnb so if you put it on your schedule and you say this is my airbnb they don't really want to give you credit for that income guys but list of this if you put it in l a l sierra escort now they give you credit for the income so if your own any property and you either right now are airbnb or any possible air bb in the future you need to contact somebody like peter rotman somebody like kyle whissel six one nine six six.
"fannie freddie" Discussed on KMET 1490-AM
"Yeah absolutely i mean there are extremely large i mean they're getting oh my goodness well you know nine hundred plus finishing the day obviously we're a medium to large company but we service our loan so it puts us in that next bucket above in terms of some of the loosening of regulations and some of the things that i guess the administration which i think is good in some ways a little dangerous and another and and i'll explain that good in in the way that if we can get more borrowers in the in the pool of people who want loans that's a good thing because what every time we raise rates a quarter point we lose about five hundred thousand people in terms of people who would normally get a mortgage or refi so anything we can do to expand that is a good thing but on the flip side of course everybody's worried about a repeat and everything every time i read an article about a repeat of what happened during the mortgage crisis backing oh eight i have to give pause your thoughts on that and actually when fannie freddie i think they just rolled out a little segment stating that they want to shorten the amortization terms right and they wanna basically now increase your buyers payment in upwards of four hundred dollars a month scares me tells me that they're predicting that we're gonna have another market like we did back then and so by shortening the terms are trying to the payments are going up but they're trying to shorten you know the outlook of when these homes you know are gonna you know when we can come to this event again article and i didn't really understand it so what you're saying is rather than getting a thirty year loan they want to shorten it to twenty five and four hundred dollars your payment or something like yep that's how i interpreted it and i got it from other brokers and loan agents who read the same thing what's going on guideline is that something like it's a wishlist in is that just coming from fanny or is that some edict from i dunno hud or some other agencies.
"fannie freddie" Discussed on WTMA
"Have a much more detailed event examination of a particular bank where instead of just looking at broad classes of assets you can start looking at the portfolio seeing which loans are performing which ones are not which ones are on real estate in what neighborhoods and so forth and then you can recommend corrective devices and my own view is that they had worked that position a little bit better you probably don't need doddfrank but most importantly in order to get rid of the temptations what you really wanted to do was to reform the fannie freddie process whereby you had the implicit guarantee and when senator dodd was asked about this he said i don't have any time to worry about this i've got all this star is senator dodd is gone however where presented with senate debating this will they solve the community redevelopment act this pressure to loan to people have high risk is that that is not solved this not even addressed as far as i can tell i mean what they're doing is giving greater flexibility one of the features that i recall when i taught the course is that when you're dealing with the riskiness of various portfolios you're not allowed to deduct them anybody from credit from a bank which in fact has made extensive loans under the cra so that they are outside the usual umbrella of a bank examination and to the extent that that is true it's very unsettling because what happens is it means that you don't have full control over a portfolio many of the loans in that particular position so if you go back to sort of the original mantra one of the first calms i ever wrote for forbes before it even became hoover's defining ideas was a com which talked about the desire to have homeownership is a political ideal and i said this is mistake under the standards theories of robert knows it on distributive justice which is the moment you put out there a desirable land with turns out excuse all the voluntary transactions that would otherwise take place in order to satisfy that end and the transactions that you need are going gonna be coerced and they're gonna be riskier and.
"fannie freddie" Discussed on Bloomberg Radio New York
"And freddie on the multifamily side have not changed their credit box whatsoever and have held standards very tight because they're such a dominant force in the market on the single family side we don't do any single family lending with fannie and freddie i would say only this is a general comment fannie and freddy got into trouble in the early two thousands by going after all a loans and the single family side that was due to the pressure from the single family our nbs market the residential mortgage backed securities market that market hasn't come back and as a result of that fainting freddy are not being pushed on the single family side from an underwriting standpoint and therefore able to hold their credit standards much better now than they were previously i wanna push back on that a little bit because we had a bloomberg view columnist on our show in the past few weeks who is saying that there have been an increasing number of non bank lenders who have been originating these single family loans that are being insured by fannie and freddie and fha and it raises a question if they don't have to have skin in the game if they are basically packaging and originating to sell and if fannie freddie and fha are not necessarily checking on the risks there could we be setting ourselves up for a big problem perhaps one to be borne by the taxpayer so exactly where you want with that lisa because the originator of the mortgage holds no risk it makes no difference whether they're an extremely well capitalized bank or quicken who is not a bank but is the largest single family home originated in the country because there is no counterparty risk we as taxpayers on the single family side take a hundred percent of the risk on the multifamily business with fannie.
"fannie freddie" Discussed on KVNT Valley News Talk
"And and so uh it for us building now think like that it's uh it's one climate of the time uh we work with some of the the government agencies that with uh with a in fannie freddie mac and fannie mae and uh you know but it's still bill if it's all about building one client at a time and for us so um you know i'm we're out cursing is trendy now away if you will and i mean if you kept up with the trend on outsourcing it's uh uh you know more and more large companies find functions within their processes that are easy eat more easily lifted out and and outsource to to uh to vendors like us and we um you know we we try to take it that met croat who we really try to become their strategic partner who you want to be the consultant that helps them execute their business plan and truly make uh you know makes it a partnership voted so that they can achieve their goal and in doing so you know we've been fortunate to who have grown quite a bit and we're who kind of the the largest dan what we do um this commercial real estate kind of advisory work that we focus on and um you know we've we've been you know i i feel like we've been fortunate but i'm on we're always looking to add more clients in in were you know that helps to grow all of our offices absolutely a stay with us more to come see the beed and again the seitis dot com is the website s i t u s dot cobb we're talking about growing jobs after they've disappeared it can be done back in the bullets at farmers we know a thing or two.