April 3rd, 2012 11:59 AM by Eric Fang
First, I just updated the page Home Buyer's Cornerfor the first time home buyers.I am glad thatlot 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 arethe title company and Serving companies. We knowthat some title compaies outsourced their titlesearch so that we can get the title reportthe 2nd day(someone is working when aresleeping). And recently Ocwen Financial Corp reduced their work force in usa since theyrelied 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 thismight not be the true picture yet. As I just heard, the processing backlog problem is stillnot 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.