NAR Newsletter
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September 2007 |
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Realities is a monthly E-newsletter created especially for industry thought leaders and specialists by the National Association of REALTORS®. Write to us with your feedback and suggestions for future stories. To unsubscribe, click here. |
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President Bush Supports FHA Policy Changes
President Bush proposed a set of policies designed to ease the crisis in the mortgage industry and halt the rapidly increasing rate of foreclosures affecting many American families today. NAR has long supported this reform.
read more>>. |
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Preventing Abusive Lending
Abusive and predatory lending practices are a serious problem for our nation's communities. Because of abuses, families are losing their homes and savings, foreclosure rates are higher, and some neighborhoods face increased vacancy rates.
While abusive lending does occur primarily in subprime markets, not all subprime loans are abusive or problematic. In fact, responsible subprime lenders have played an important role in helping millions of consumers achieve homeownership. NAR supports federal legislation and regulation that prevent predatory lending while maintaining a role for responsible subprime lending. |
NAR Letter to Fed Urges Strong Abusive Lending Regulations
The financial markets are struggling with the results of abusive lending practices in the subprime market, including the collapse of several investment funds and the failure of more than 100 subprime lenders. A strong Federal Reserve Board regulation could help reassure investors and borrowers, potentially helping stave off or recover from an overreaction that could deny mortgage loans to borrowers who are able to meet their mortgage obligations.
read more>>.
REALTORS® Help Consumers Avoid Foreclosure
NAR, the Center for Responsible Lending, and NeighborWorks® America explain the types of mortgages that are placing families at risk, provide suggestions for getting help by talking to a REALTOR® and reputable counseling organization, and urge borrowers to work with experts and their lender as soon as possible.
read more>>.
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 The delinquency rate for mortgage loans on one-to-four-unit residential properties stood at 4.84 percent of all loans outstanding in the first quarter of 2007, up 0.43 percentage points from one year ago.
The percentage of loans in the foreclosure process was 1.28 percent of all loans outstanding at the end of the first quarter, an increase of 0.30 percentage points from one year ago.
The rate of loans entering the foreclosure process was 0.58 percent, up 0.17 percentage points from one year ago.
Source: Mortgage Bankers Association, National Delinquency Survey
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How FHA Could Help Borrowers
Wall Street Journal, August 22, 2007
As the subprime-mortgage crisis ripples through the broader housing market, the Bush administration is eyeing an often overlooked federal mortgage insurer to help low- and middle-income homeowners avoid foreclosure.
read more>>.
Financial Times, August 20, 2007
Financial Times, August 20, 2007
The subprime crisis demonstrates the serious negative economic and social consequences that result from too little regulation.
read more>>.
Mortgage Crisis: Change Not Terms, But Regulations
Newsday, August 19, 2007
The current crisis in the mortgage market should force the nation to reconsider many assumptions about home ownership, mortgage lending and securitization - the process of generating bonds from mortgages and other forms of debt, says Alex Schwartz, author of "Housing Policy in the United States: An Introduction."
read more>>.
Community Choice in Real Estate Act Rightly Bans Banks from Land Brokerage, Management
The Hill, July 18, 2007
In late July, Congressman Paul Kanjorski released a statement in favor of the Community Choice in Real Estate Act. One of his main concerns is banks “are supposed to lend without bias, based on financial principles.”
read more>>.
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© Copyright NATIONAL ASSOCIATION of REALTORS®
Headquarters: 430 North Michigan Avenue, Chicago, IL 60611
DC Office: 500 New Jersey Avenue, NW, Washington, DC 20001-2020
1-800-874-6500
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