David Chambless's (davidatuhmc) Blog

Mortgage applications in the U.S. declined last week as higher interest rates hurt refinancing. The Mortgage Bankers Association's index of applications to buy a home or refinance a loan dropped 1.5% to 425.9 in the week ended Aug. 8 from the prior week. The group's purchase index was unchanged a...

MARKET RECAP The more things change, the more they remain the same, or so the cliché goes. For Fannie Mae, not much is changing, but things are remaining the same. Fannie Mae continues to rack up losses and continues to slash its dividend. On the former, it posted a $2.3 billion loss in the secon...

Just when it seemed that the onslaught of subprime loans was about ready to peak, there is a second wave that will dwarf the first by a large margin. The second wave will consist of Alternative-A loans, mortgages made to people with good credit, but without proof of income. Why is the second wave...

FHA stands for the Federal Housing Administration. It was created in order to facilitate home ownership for Americans previously shut out of the system. There were many reasons stopping a large number of people from owning a home. The first relates to credit. Most private lenders have minimum cre...