Private Investor Solves Housing Crisis
Los Angeles, CA (Vocus) May 8, 2009
The Bottom-Up Family Housing Voucher (FHV) is a micro loan concept that creates credit and value through leverage to stabilize real estate markets, thereby altering prevalent toxic paper held by institutions into assets with value.
The FHV, by Jud Ireland, is now gaining traction. FHV will be backed with the full and complete credit worthiness of the United States Treasury.
This is the best plan I've seen to help the housing crisis. It's so brilliant in its simplicity, no wonder everybody missed it. Now is the time to implement Family Housing Vouchers. — Michael Intriligator, Professor of Economics, Political Science and Public Policy, UCLA and Senior Fellow Milken Institute
The FHV is a divisible voucher with a duration of ten years. The government will issue Family Housing Vouchers (FHV) to homeowners as a loan to pay off a portion of their mortgages. The issuance of FHV is to create confidence and signal an end to the housing crisis. The US Government can adjust the distribution depending on how much inflation the FHV may create. The immediate cost to the government with a 1% coupon rate is ten billion dollars for 1 trillion in added liquidity.
Financial institutions will keep the FHV on their books with the same capital requirements as Treasuries or Agency assets which will stabilize their balance sheets accordingly. Banks will loan against them with a multiple of value, further aiding the economy.
The financials can slowly monetize them by liquidating / redeeming them back to the government at the rate of ten percent per year.
Stability of the housing market is the goal.
The Bottom-Up Family Housing Vouchers plan is the natural ally for homeowners, housing bond holders, Wall Street, and Washington. This is the only plan that helps everyone. — Jud Ireland
Discussion Points:
- Wiki estimates the USA has $10 trillion in existing mortgages, some economists estimate as high as $14 trillion.
- The government cost for 1 trillion dollars of FHV is only 10 billion dollars a year and will certainly signal an end to the housing melt down.
- What happens to homeowners who have no mortgages? They get a tax credit.
- FHV is a micro loan based on macro Keynesian economics*.
- The homeowner repays the loan voucher to the Government.
- Who gets an FHV? Some balanced distribution.
- An FHV secondary market will not be allowed as that would defeat the purpose.
- Bondholders love FHV because they create value for the bond holders instead of a cram down from the government. — Jud Ireland
- Wall Street likes FHV because they mitigate the risk in buying toxic assets.
- FHV complement the Geithner Plan by turning toxic assets into valuable assets.
- FHV might be administered using the existing Tax Roll.
- The Bottom-Up Voucher solution can also apply to small business owners, cities, universities, or states.
- The Bottom-Up Voucher solution will create millions of jobs.
*Keynesian economics is a macroeconomic theory based on the ideas of John Maynard Keynes that contends that private sector choices sometimes lead to inefficient macroeconomic outcomes and therefore advocates active policy responses by the public sector which would include monetary policy actions by the central bank and fiscal policy actions by the government to stabilize output over the business cycle.
To view the complete biography on Jud Ireland or Michael D. Intriligator, please click on the appropriate link below:
Professor Michael D. Intriligator Biography
Jud Ireland Biography
For all media inquiries, please contact:
Virginia Lawrence
Ballantines PR
Virginia (at) Ballantinespr (dot) com
818 577 6698
http://www.ballantinespr.com
TeraVendo, Inc. Streamlines Loan Origination by Partnering with AppraiserLoft
San Diego, CA (PRWEB) August 22, 2008
AppraiserLoft, an innovative and technology-focused appraisal management company, is now the premier and preferred appraisal management firm for TeraVendo, Inc., a leading loan origination software company. TeraVendo's addition of a portal to AppraiserLoft in their popular loan origination software, LoanAce, vastly improves and expedites productivity for loan originators, mortgage brokers, and loan professionals across the nation.
AppraiserLoft's online appraisal ordering platform allows users to order appraisals within minutes, providing immediate options for payment, and the ability to track the status of any appraisal order 24 hours a day. AppraiserLoft's network of over 5,000 certified appraisers guarantees 72-hour appraisal processing in all 50 states across the nation.
Aman Makkar, founder and CEO of AppraiserLoft, is excited to partner with TeraVendo as LoanAce's preferred appraisal management company. As the premier online appraisal partner for LoanAce software, our online appraisal software will be even more accessible to the mortgage industry. We look forward to providing our services to LoanAce users and further enhancing LoanAce's capabilities.
TeraVendo launched LoanAce, the industry's first free loan origination software, on August 1, 2006. Since that time, LoanAce's user base has grown to over 3,000 companies and has quickly become a model of efficiency and cost savings in the mortgage industry. Their loan origination software is favored among loan originators and brokers because of its ease of use and fully integrated design, featuring the capability of its EZorder feature to order integrated credit reports, titles, appraisals, hazard insurance policies and leads. Another LoanAce feature, TEAM, allows follow up on the loan process and its status in real time. LoanAce loan origination software, offered at no charge, is now greatly enhanced by the addition of an exclusive portal to AppraiserLoft.
Ariel Fleming, Managing Director of TeraVendo, states, Our mission with LoanAce has always been to make the time-consuming process of loan origination flow more efficiently and expeditiously. The inclusion of AppraiserLoft's services to our software significantly increases that efficiency.
Because AppraiserLoft and LoanAce both operate via easy-to-use technology, their integration capabilities will attractively enhance the services they provide to mortgage brokers and loan originators. The joint venture is an opportunity for AppraiserLoft to experience even more growth and visibility as it strives to provide the highest level of customer service in the appraisal industry. The cooperative gateway between loan origination software and appraisal management is continued evidence of their organizations' dedication to streamlining the loan origination process from inception to completion. Both companies pledge to continue their efforts to expedite the process and provide the highest quality professional services available to the mortgage industry.
About AppraiserLoft:
The Company was founded in 2006 by Aman Makkar, an entrepreneur passionate about the real estate and mortgage finance industries. AppraiserLoft is a leading provider of comprehensive collateral valuation products targeted towards the mortgage lending, servicing, and insurance industries. With coast to coast coverage, AppraiserLoft appraisers bring intimate knowledge of local markets and trends to meet all their clients' needs.
For more information, please visit http://www.appraiserloft.com.
Contacts:
Appraiserloft
Harpreet Makkar
(858) 876-0505
harpreet @ appraiserloft.com
TeraVendo, Inc.
Ariel Fleming, Managing Director
(423) 462-6599
ariel @ loanace.com
Credit Crisis, Weak Economy Drag REIT Returns Down In Line With Broader Market In '08
Washington, D.C. (Vocus) January 10, 2009
The REIT market was down in line with the broader market in 2008 as all sectors of the economy were affected by the credit crisis and global economic struggles, according to the National Association of Real Estate Investment Trusts (NAREIT). Consider the following points:
- The FTSE NAREIT All REIT Index was down 37.34 percent for the year, through Dec. 31, following a near 16 percent rebound in December. The FTSE NAREIT Equity REIT Index was down 37.73 percent for the year after gaining 16.39 percent in December.
- The broader market indexes also struggled in 2008. For the year, the NASDAQ Composite was down 40.54 percent, the Dow Jones Industrials was down 33.84 percent, the S&P 500 was down 37.00 percent, and the Russell 2000 was down 33.79 percent.
- For 2009, the REIT market continues to face the same challenges as other industries: the need to revitalize the frozen credit markets enabling companies to refinance debt coming due, and weathering the uncertain and challenging economy.
Broader market fundamentals had a strong impact on how insulated or how badly hit specific REIT sectors were in 2008.
- On the positive side, Self Storage REITs were up 5.05 percent in 2008. The relatively small sector is comprised of four companies that operate with very low leverage, a factor investors favored in the current credit climate.
- While Home Financing REITs were down 20.02 percent for the year, the sector was up more than 14 percent in the fourth quarter, signaling that the worst expectations of the residential mortgage crisis may already have been discounted in the shares of these companies.
- Health Care REITs, down 11.98 percent for the year, fared better than most other sectors as investors sought the positive, long-term fundamentals of companies catering to the country's aging population.
- On the flip side, the slowdown in global manufacturing and decreased wholesale activity depressed the Industrial REIT sector (down 67.47 percent for the year).
- Regional Mall REITs (down 60.60 percent) were affected by investors responding to the fear of a consumer spending shutdown and increasing retail store closings.
- Lodging/Resort REITs (down 59.67 percent) faced the challenge of both vacationers and business customers curtailing travel plans due to the economy.
In spite of the fact that some REITs cut dividends in the second half of the year, both the All REIT and Equity REIT indexes posted their highest year-end dividend yields in nearly a decade.
- The FTSE NAREIT All REIT Index dividend yield was 8.37 percent as of Dec. 31, 2008 (the highest since its 8.98 percent level of December 1999). The FTSE NAREIT Equity REIT Index dividend yield was 7.56 percent at the end of 2008 (the highest since its 8.70 percent level of December 1999).
The National Association of Real Estate Investment Trusts (NAREIT) is the representative voice for U.S. REITs and publicly traded real estate companies worldwide. Members are real estate investment trusts (REITs) and other businesses that own, operate and finance income-producing real estate, as well as those firms and individuals who advise, study and service those businesses. Visit our Web site at REIT.com.
NAREIT does not intend this press release to be a solicitation related to any particular company, nor does it intend to provide investment, legal or tax advice. Investors should consult with their own investment, legal or tax advisers regarding the appropriateness of investing in any of the securities or investment strategies discussed in this publication. Nothing herein should be construed to be an endorsement by NAREIT of any specific company or products or as an offer to sell or a solicitation to buy any security or other financial instrument or to participate in any trading strategy. NAREIT expressly disclaims any liability for the accuracy, timeliness or completeness of data in this publication. Unless otherwise indicated, all data are derived from, and apply only to, publicly traded securities. Any investment returns or performance data (past, hypothetical, or otherwise) are not necessarily indicative of future returns or performance.
Contact: Ron Kuykendall or Matt Bechard
(202) 739-9400
1-800-3NAREIT
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Score Optimization Systems Credit Repair Technology Delivers an Astonishing 150 Point Credit Score Increase to Texas Mortgage Broker
Dallas, Texas (PRWEB) September 29, 2011
Texas mortgage broker and owner of Dynamic Mortgage, Anthony Aidonmiyi, witnessed a 153 point credit score increase in only four months with aid of S&S Private Capitals credit repair services and its S.O.S. Score Optimization Systems technology.
After retaining the services of several other credit repair companies prior to S&S and not receiving the results promised by these firms, I was very reluctant to take any chances with another company. stated Aidonmiyi. I have referred many of my mortgage clients to numerous credit repair companies in the past only to be disappointed and not receive the promises they had made. However, after speaking with Gene Schwalen and his staff, I felt there was a light at the end of the tunnel. I was extremely impressed by their expertise and professionalism as they really know how the credit reporting and scoring system works. Being in desperate need to refinance my personal mortgage, I decided to take one more chance on my personal file before referring any of my clients to them, and Score Optimization Systems more than delivered on all their promises
With an original credit score of 493, S&S Private Capitals S.O.S. Score Optimization Systems was able to analyze Aidonmiyis credit report, identify reporting errors and inaccuracies, and take immediate action to eliminate the damaging information reporting to his credit report utilizing the consumer laws and statutes that govern credit reporting practices. In just four months time, his scores shot over a 650 which is more than high enough to meet the FHA credit score requirements which are currently at 640 with most lenders.
Even with the much stricter lending guidelines, mortgage meltdowns and the deteriorating real estate market, Aidonmiyi and his mortgage company, Dynamic Mortgage, have been able to increase their business by utilizing the S.O.S. Score Optimization Systems for their realtors and clients. They are able to close more loans than ever before while helping their clients obtain all of their home ownership and refinance goals due to the credit repair success S.O.S provides. After seeing the amazing results S.O.S. provided me with my own credit report, I have been able to use myself as a testimonial to help more clients obtain their mortgage loans by also taking advantage of the success Score Optimization Systems provides. expressed Aidonmiyi.
S&S Private Capital, Inc. and its S.O.S. Score Optimization Systems focus on credit report repair, and more importantly, credit score optimization. The S.O.S. consulting services educate clients on how to obtain their home loan and other financial goals while qualifying for the most competitive rates and programs. In business since 1998, the developers of Score Optimization Systems have helped more than 25,000 thousand clients including individuals, families and businesses across the country in realizing the gift of a great credit rating and the value it brings. More information about S.O.S. results can be found at http://www.scoreoptimizationsystems.com.
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Mortgage Investors Group Implements Avista Solutions Web-Based Loan Origination and Product & Pricing Systems
San Diego, CA (PRWEB) March 31, 2006
Avista Solutions, a leading mortgage software provider, has implemented the Avista Accelerator Loan Origination System and Avista Advantage Product & Pricing Engine for Mortgage Investors Group.
We looked at multiple vendors before selecting Avista, said Chrissi Rhea, President, Mortgage Investors Group. Avistas track record of successful implementations and functionality like Avistas Rule Workspace which allows our business users to create, maintain and publish rules quickly and role out new products without the need to involve in-house IT administrators or Avista staff. This allows us to quickly role out new conforming, Alt-A, and sub-prime products across all channels.
Were very pleased to be selected by Mortgage Investors Group to provide this new mortgage origination system, said Mark Phlieger, CEO of Avista Solutions. We feel confident the combination of Avista Accelerator Mortgage Origination System and Avista Advantage Product & Pricing Engine will enable Mortgage Investors Group to better serve its wholesale and retail channels by streamlining the origination process with key components such as product eligibility, online lock, automated underwriting and closing docs.
The Avista Accelerator loan origination system allows users to create loan applications online or import them from external loan origination software, as well as order services such as credit and automated underwriting. Online status, pipeline management, originator/lender loan collaboration, disclosures and closing documents via 3rd party document providers are also provided in this B2B system. The lender view allows users access to all of the originator specific services as well as features such as template driven underwriting management. Simple updating of website content for each channel is managed through the user friendly back end administration.
The Avista Advantage Product & Pricing Engine includes a pricing scenario tool which allows originators to evaluate borrower loan eligibility and receive a list of qualified products with fully adjusted pricing as well as disqualified products and reasons for disqualification. Online locking with fully adjusted pricing and immediate confirmation is also provided. Rule Workspace allows lenders to rapidly manage product changes and implement new products.
About Mortgage Investors Group
Mortgage Investors Group was founded in 1989 by Christine Rhea and Charles Tonkin with a total of seven employees. Today, the company closes over $1,800,000,000 a year in home loans with over 200 employees. Mortgage Investors Group now has fifteen branch offices throughout the state of Tennessee and three wholesale offices in California and Arizona. For more information about Mortgage Investors Group, please call 800-489-8910 or visit us on the web at http://www.migonline.com.
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Bills.com Addresses Pros, Cons of 40-Year Mortgages
San Mateo, Calif. (PRWEB) February 27, 2008
With the mortgage market on shifting ground over the past year, fixed-rate mortgages have taken the spotlight — but Bills.com co-founder and co-CEO Andrew Housser cautions homeowners to look closely at one growing fixed-rate option, the 40-year mortgage.
In the last few years, the structure of mortgages has changed very rapidly among U.S. home buyers. Just as rapidly, too many buyers have become overcommitted to debt, and many mortgages have failed, noted Housser. One product that still raises curiosity after the mortgage meltdown is the 40-year mortgage, which can be either an adjustable-rate (ARM) or a fixed-rate loan. In its fixed-rate form, explained Housser, it can be a less risky way for borrowers to lower monthly payments while avoiding the ARMs or interest-only loans that have gotten some buyers into trouble.
Housser, whose company is a free online consumer finance portal (http://www.bills.com), advises potential home buyers to look closely at the pros and cons of this mortgage product.
Advantages of the 40-year mortgage
Paying off a home over a 40-year period offers several advantages:
1. Smaller monthly payment. Housser noted that this is the big incentive for buyers to select this type of loan. On a $200,000 loan at 5.75 percent interest, a 40-year mortgage can save buyers about $100 per month over a similar 30-year mortgage.
2. Qualify for more home. With rising home prices and debt-to-income ratio requirements, many buyers with only a small down payment (especially first-time buyers) are finding they simply cannot afford the home they want. By keeping monthly payments lower, buyers can qualify for more expensive homes.
3. Take a bigger deduction. Some experts argue that these mortgages could offer high-income home buyers greater income-tax deductions because of the significantly higher interest payments. This argument only merits consideration if the homeowner can confidently invest his/her money at a higher return than the cost of the interest on the mortgage, Housser said. The bottom line: It is a questionable advantage.
Buyer beware disadvantages abound
As with any finance product that sounds too good to be true, Housser noted that the 40-year mortgage has disadvantages, too:
1. Slow equity. While buyers are paying principle on the loan (unlike an interest-only loan), the principal payments are small, and remain small for a long time. Equity will accrue, but significantly slower than with a traditional mortgage.
2. Huge interest payout. Interest, in contrast, will mount up faster and higher than for a traditional mortgage. The 40-year loan cited above will result in $90,000 more in total interest payments over the life of a loan compared with its 30-year equivalent.
3. Buying too soon. Some buyers are lured by 40-year mortgages because they can buy a home sooner than with a 30-year mortgage. But those who believe they need the 40-year mortgage because they have too much debt to qualify for a shorter-term mortgage should think twice. Having that much debt may indicate that they should not be purchasing a home at all. Instead, prospective buyers would be wiser to work to pay off some debt first, and then look for a home to buy. They will have lower risk of default, which could take away the home, credit rating, and chance to buy another home.
Is a 40-year loan ever a good idea? For first-time buyers with low debt in a high-cost housing market, the 40-year mortgage might allow them to get into the market now as opposed to later, Housser conceded. Then again, if you see yourself moving within a few years, before an ARM would reset, a five- or seven-year ARM could do the same thing — while building more equity. Your best move depends on a variety of factors, so weigh the decision carefully.
Based in San Mateo, Calif., Bills.com is a free one-stop online portal where consumers can educate themselves about complex personal finance issues and comparison shop for products and services including credit cards, debt relief assistance, insurance, mortgages and other loans. The company blogs about consumer finance issues at http://www.bills.com/blog. Since 2002, Bills.com has served more than 30,000 customers nationwide while managing more than $1 billion in consumer debt. Bills.com is a division of Freedom Financial Network, LLC, whose co-founders and CEOs, Andrew Housser and Brad Stroh, have been named Northern California finalists in Ernst & Young's Entrepreneur of the Year Awards.
