Brad Finkelstein is the originations editor of National Mortgage News. Finkelstein has been with NMN since May 1990. Prior to that he was the associate editor of the Airport Press in Jamaica, N.Y., and a reporter for This Week Publications on Long Island. He is a past president of the New York Financial Writers Association.
Despite soaring home prices, other factors needed to inflate a housing bubble are absent from the real estate market. But experts warn falling home values and rising mortgage defaults are inevitable, even if conditions naturally cool off.
Freddie Mac and Arch Capital are testing a new form of risk-sharing deal to boost investor appetite for low down payment mortgages. But the pilot is raising concerns about "charter creep" because it dictates private mortgage insurance decisions typically made by lenders.
A provision in the Senate's regulatory relief bill that would give manufactured housing retailers more leeway to make financing recommendations has consumer advocates concerned about potential lending abuses, while the industry contends it simply levels the playing field with real estate agents and homebuilders.