Market Matters

Tight Credit? Even Ben Bernanke Couldn’t Refinance His Mortgage
Source: Wall St. Journal

The former chairman of the Federal Reserve, Ben Bernanke, recently commented in a speech that he was unable to refinance his mortgage as a sign of credit conditions in the country. But his larger point was that lenders have grown to rely heavily on automated underwriting systems and the requisite documentation of borrower incomes, the sources of their down-payment funds, etc. which can result in qualified borrowers being turned away.
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Analysts Expect Home Price Appreciation to Continue Slowing

Source: DSNews.com

 

Analysis from housing experts suggests that many metros around the country will see home price appreciation switch to a much slower track—or even decline modestly, in some cases—as the factors directing the momentum of the last few years diminish and fundamental drivers start playing a bigger role. Annual price appreciation regularly topped 10 percent nationwide in 2012 and 2013; however, as of July, yearly growth was down to 5.6 percent.
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Attend Berkeley’s 37th Annual Real Estate & Economics Symposium

On Nov. 3, join one of the most prestigious economic/real estate conferences in the country when Berkeley’s Fisher Center for Real Estate & Urban Economics hosts its 37th Annual Real Estate & Economics Symposium at the Westin St. Francis in San Francisco. Attendees can expect a professional, high-powered event that attracts several hundred attendees annually. The Symposium features a distinguished group of experts in real estate, finance, government, and academia, who evaluate and discuss real estate and financial markets. Many of the best business minds and most important decision-makers in the country examine how the political and economic environment will impact real estate and business today, and share their expert views on what lies ahead, providing the information and the perspective needed to have the competitive edge to prosper in our changing times.
Register here.  
 

 

Help for mortgage seekers who don't fit the mold
Source: L.A. Times

 

Due to the impact of federal rule changes, it can be difficult for potential homeowners to qualify for a mortgage if they don’t conform to all the underwriting mandates on credit, income, debt-to-income ratio and other criteria. To service these buyers, a new segment of the mortgage market has begun taking shape: "non-Qualified Mortgage" or non-QM lending. Interest rates are typically higher. 
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