Lenders

Lenders

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  Perception Is Reality in How Lenders See Builders

  More than ever, creditworthiness is in the eye of the beholder, says one financial consultant.

   

• FHA to Tighten Underwriting, Raise Premiums

  The effort to boost capital reserves also includes changes to reverse mortgage offerings.

   

• A New Capital Source for Infill Projects Breaks onto the West Coast Scene

  Sabal Financial is targeting small to midsize builders in need of AD&C financing.

   

• Wells Fargo's Confidence in Housing Leads to Lending

  The bank has created a new group dedicated to supporting builders and developers.

   

• The Downsides of an Upturn

  Home builders and lenders gather to discuss when a recovery may materialize and the challenges that could bring.

   

• Mercedes Homes to Wind Down and Liquidate

  The company's owners, however, have plans to build again under the name Merdedes Premier.

   

• Reeling Mortgage Insurer PMI Hires Restructuring Advisors

  Three of its loans are in danger of defaulting after Arizona regulators seized the company’s main subsidiary last week.

   

• Existing-Home Sales Continued to Decline in May

  Prices have fallen 4.6% on a yearly basis.

   

• Analyst: South Edge Deal in the Works

  Michael Rehaut, home building analyst at J.P. Morgan, was out with a research alert Thursday that reported a deal among some, but not all, the homebuilders involved in the bankrupt South Edge LLC joint venture at the stalled Inspirada project in Henderson, Nevada.

   

• Meritage Moves Against Inspirada JV

  Meritage Homes Corp., Scottsdale (NYSE:MTH) late Thursday filed an 8-K with the Securities and Exchange Commission disclosing its intention to contest an effort by lenders and its joint venture partners to pay liabilities of $13.2 million related to the stalled Inspirada community in Henderson...

   

• Industry Execs Discuss Builders’ Survival Strategies at Housing Leadership Summit

  Capital and where to find it remain the primary imperative.

   

• Reader Responses: Is Your Bank Lending Again?

  We asked readers whether their banks had recently started lending again. Here are some of the responses we received.

   

• Maronda Homes' Bankruptcy More a Battle Plan Than a Surrender

  Unable to resolve a credit agreement dispute with one of its 14 lenders, the builder has filed for Chapter 11 protection—but only for some of its entities.

   

• Regulators Set New Rules for Foreclosure Practices

  Many industry watchers say the regulators' actions are all bark and no bite.

   

• Proposed Definition of Qualified Residential Mortgage Sets a High Standard

  A 20% down payment and no debt delinquency for the last two years would be required to reach the mortgage industry's proposed gold standard.

   

• FHA Takes Bigger Role in Financing Apartments

  But its latest lending criteria make supporting market-rate rental a challenge.

   

• Fannie and Freddie Raise Fees for Borrowers

  Even a great credit rating won’t exempt most home buyers from Fannie Mae’s and Freddie Mac’s updated risk fees.

   

• Survey: Most Adults Expect Housing Slump to Last At Least Another Two Years

  Trulia.com and RealtyTrac Tuesay said the latest results of an ongoing survey tracking homebuyers' attitudes toward foreclosed homes indicate that 58% of U.S. adults expect recovery in the housing market to take at least another two years. Half have less faith in mortgage lenders, banks and the...

   

• Overdue Real Estate Loans Continue to Plague Banks

  Latest FDIC report finds more than 16% of construction and development loans are at least 90 days past due.

   

• Foreclosure Filings Decrease 4% in October

  RealtyTrac executive suggests parallel 9% drop in bank repossessions is substantially due to ‘robo-signing’ debacle.