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Sep 11, 2006

Wells Fargo launches alternative lending programMortgagePress.comSub-prime lending, Wells Fargo The Alternative Lending Division of Wells Fargo Home Mortgage has introduced the Traditional Nonprime Program, which aligns credit and pricing that focus on mortgage payment history and credit scores for determining loan amounts and loan to value. Features of the program include no minimum trade lines to 95 percent loan to value, loan amounts up to $2 million, an interest-only payment option, full-doc, stated-income and bank statement options, and compatibility with owner-occupied, second-home and non-owner occupied properties. San Francisco-based Wells Fargo Home Mortgage is the mortgage lending division of Wells Fargo Bank NA. For more information, call (800) 340-0465 or visit www.wellsfargo.com.

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Sep 11, 2006

Analysis and Data

It's A Buyers' Market In Texas And Florida!!!

Redfin says sellers are cutting their asking prices in the two southern states.

Two states in particular are experiencing a ballooning supply of homes for sale this spring, paired with modest price cuts to entice buyers. A new report from Redfin indicates that housing supply is surging in Florida and Texas, and sellers are cutting their asking prices...

Analysis and Data

Pending Home Sales Climbed 3.4% In March

National Association of Realtors reports gains in Northeast, South and West, with a slight drop in the Midwest

Homes under contract are rising at a cautiously hopeful pace this spring. The National Association of Realtors’ Pending home Sales Index climbed 3.4% in March, increasing to 78.2. Year-over-year, pending transactions were up 0.1%. “March's Pending Home Sales Index – at...