Analysis: Jumbo mortgages are back, but at far from 2007 levels

Comments (7)
forzapista wrote:

Some people never learn. Or will they just expect to be bailed out again by the people who make conservative mortgage decisions?

Feb 26, 2013 10:07pm EST  --  Report as abuse
jaham wrote:

The sad fact is that the higher end borrowers are the only ones barely able to qualify.

DoddFrank, the CFPB and liberals much coveted “regulations” are squeezing the life out of credit markets.

“Today a borrower typically needs to put up 30 percent of equity, show a FICO credit score topping 760, provide years of tax records and prove that he or she has a year of mortgage payments in the bank”

Most Americans simply can’t meet such requirements and if they can’t qualify for FHA financing then they’re highly likely stuck as renters for the foreseeable future.

Three cheers for regulation!

Feb 27, 2013 9:31am EST  --  Report as abuse
Sanity-Monger wrote:

@jaham — pretty funny. You’re thinking a return to the good old high-flying days of 2007 would be a good idea? What sleazy mortgage lender do you work for?

Feb 27, 2013 11:04am EST  --  Report as abuse
jaham wrote:

I’m only suggesting consumers should not complain about to Banks and blindly call for regulations that do not solve the problem and then get angry when they can’t get a loan.

As much as Obama yabbers about helping the middle class, the unemployment rate is higher today than it was when he first took office four years ago and middle class wages have declined every year he’s been in office. Now cheap money is punishing savers and only the wealthiest tend to qualify to take advantage of these low rates.

Liberal economic ignoramuses should be careful what they wish for.

Feb 27, 2013 3:00pm EST  --  Report as abuse
kiwibird wrote:

Owning your own home is an illusion. You never really own it, you borrow it for a period of time. It can give you financial security, but not always, any number of factors in life can mean that you have to sell it. The only obvious benefit is that there is no landlord to bug you and you can change it to suit your tastes.

Feb 27, 2013 3:38pm EST  --  Report as abuse
americanguy wrote:

@kiwi
I totally agree but it is not just the home, it is everything.
Try not paying taxes and insurance on your car, your boat, or not paying your income taxes or personal property taxes and see what you really own when you are left with nothing. We don’t even own our lives or freedom.
We are slaves.

Feb 27, 2013 8:17pm EST  --  Report as abuse
usagadfly wrote:

This is America. Jumbo mortgages are just fine, as are the wealthy.

But institutions which make those loans should gamble only with their own money. This means that neither they nor any affiliated lender should be afforded Government “insurance” on any activities whatsoever. If you want to take risks, take them at your own risk and not mine. No bailouts or “loans” from the Government or any affiliated agency or “government corporation” either.

Issuing or holding aggregate instruments which mix in any “insured” loans with these jumbo loans, “derivatives”, should be illegal and the loans covered null and void.

Feb 27, 2013 8:19pm EST  --  Report as abuse
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