Mortgage Blog

First, I just updated the page Home Buyer's Corner
for the first time home buyers.I am glad that
lot of blog readers gave me postive feedbacks
in the  last a few days.

Here are some of the news from the industry:
1)Not only Tech Companies out sourcing. So are
the title company and Serving companies. We know
that some title compaies outsourced their title
search so that we can get the title report
the 2nd day(someone is working when are
sleeping). And recently Ocwen Financial Corp
reduced their work force in usa since they
relied heavily on the overseas workfrce now.

2)Foreclosure pipeline.
A lot of buyers are complaining the inventory
on the market is very low now. But this
might not be the true picture yet. As I just
heard, the processing backlog problem is still
not resolved(so it was delayed).

3)HARPII or HARPIII.
Democrats on the Senate Banking Committee are
urging the Federal Housing Finance Agency to
take more aggressive steps to allow refinancing
by homeowners with Fannie Mae and Freddie Mac
mortgages.
My Comments: I hope they can all refinane with LTV
at least 150%. I know someone suggested LTV 300%.
But This might not be realistic.