The Skinny Blog

FHA

            Following the ebbs and flows of the housing market itself, the mortgage finance marketplace has also transformed over the last decade. First, some scene setting. Each trendline above represents the percentage of closed sales in the Twin Cities 13-County MSA that utilized a particular form of mortgage financing, by
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Pending sales in the Twin Cities housing market have showed a year-over-year increase for two straight months—a notable and positive achievement that we’ve pointed out in a few spots before. The question for today is whether or not this is going to continue through the remainder of 2008. Will sales remain robust, fall a bit,
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Like The Godfather: Part II, the Twin Cities housing market showed a surprisingly strong sequel to last week’s huge upswing in pending sales. For the week ending September 6, there were 749 purchase agreements written—a rise of 49.8 percent from the same week in 2007. This comes on the heels of last week’s then-unthinkably large
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Like Adam West as Batman, the market for home sales in the Twin Cities went POW! during the week ending August 30. For the week, there were 965 purchase agreements signed—a whopping increase of 51.3 percent from the same week last year. That’s the highest year-over-year increase in pending sales since we began tracking that
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Once again, the big story in this week’s activity report is the huge upswing in pending sales activity relative to one year ago. For the week ending August 23, there were 818 pending sales, an increase of 26.8 percent from the same week in 2007. Over the last three weeks, we have now posted 545
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A phenomenon that consumers, lenders, bankers and Realtors alike are experiencing on the ground gets a 10,000 mile view from the Strib, along with the requisite human interest angle: …so when they backed away from a complicated deal in which they tried to buy a house from a borrower who owed more than the house
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We’ve talked about this before. Seller-funded down payment assistance programs (DAP) in FHA loans are currently the only true "zero-down" mortgage option for home buyers, as the conventional market has shifted to requiring at least 5% skin in the game. Many have pontificated that the FHA would attempt to eliminate this type of financing due
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When zero-down mortgages were all the rage during the boom years, eager buyers with little savings understandably took advantage. In the present day—after two years of huge bank losses brought upon by rising foreclosures, short sales and loan defaults—well, let’s just say that lenders aren’t exactly looking to give away free money without a little
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