Articles by Lynn Effinger

Bad news continues to dog housing sector

"Feel good" programs are not a solution
We should applaud efforts made to make mortgages available to more segments of our society, but, unless stringent guidelines remain in place we will find ourselves fueling another housing and economic meltdown before we have truly escaped from the last one.
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The truth about a housing "recovery" in 2015

Lynn Effinger looks into his crystal ball
With a virtual plethora of articles appearing in 2014 throughout the “regular” media, the blogosphere, and various other venues regarding the strength or weakness in our economy, one could surmise that there is a clear trend. One expert says that, yes, there is a trend, but it is not a positive one.
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REO agents and brokers deserve to be paid more

The paperwork alone can be mind-boggling
Without necessarily intending to, I am going through this process currently as it relates to REO management, marketing and disposition. And it is an eye-opening process, indeed, even for this longtime veteran of this industry.
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Rising foreclosure activity validates housing market getting worse

"It's no great secret to how we can improve the economy"
With Election Day behind us, you can count on seeing more and more media reports about rising foreclosures. We are watching very closely to see if actions will be taken by the government to improve the job market, by removing obstacles that have greatly hindered the private sector from bursting out of the malaise of the past six years.
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This is why Fannie and Freddie mortgage initiatives won't work

MBA declarations are feel-good, but temporary
Several newsworthy events have occurred over the past several days that would seem to indicate that the housing “recovery” is picking up steam. While that would be welcome news for our country in general and our industry in particular, these reports are tempered by the potential unintended consequences of certain actions either taken or not taken.
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Will HELOCs and nonbank lending contribute to another housing bubble?

This isn't homeowner confidence, it's madness
In most areas of the country an apples-to-apples comparison of home equity increases have not occurred, which could mean the problem is not going to be as bad as before. But the desire to pay off debt, offset lower or even lost wages, or just keep ahead of inflation could cause another credit/housing bubble.
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More signs of a sliding housing market

Affordability has issues, too
Affordability issues; looming interest rate hikes as have been predicted by Federal Reserve Chairman Janet Yellen; too many FHA loans being made (this is the “new” sub-prime market); federal emphasis being placed on low-income borrowers, and other factors are causing house prices to decline once again in many markets.
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