Survey time! Compare your personal experience with Big Bank claims
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This article analyzes the recent Federal Reserve survey of Big Banks and allows readers to share their own experiences with lenders.
Demand for housing
The Senior Loan Officer Opinion Survey for the first quarter of 2012 has been released by the Federal Reserve. Banks were asked to give their opinions on their lending policies and loan demand.
The demand for home loans, as measured by loan originations, is rising.
The demand for prime residential mortgages (mortgages up to the securitization standards of Fannie Mae and Freddie Mac) was stronger in the first quarter, according to 38% of those surveyed, while just over half claimed demand remained about the same.
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About The Author
Carrie B. Reyes
is lead writer in charge of the Real Estate Practice and Due Diligence and Disclosures books.
![iStock_000012073034XSmall[1]](http://firsttuesdayjournal.com/wp-content/uploads/iStock_000012073034XSmall1-106x75.jpg)
Demand for loans is rising as home prices continue to be unstable. In San Bernardino, you could get a condo for $35K!!! (and rent it for $900) In the same complex some are listed for $45K. You could get a 4 unit in Los Angeles for $250K mean while there are some listed as high as $400K with in a block on the MLS. Price instability leads to bargains! Leads to a run on loans?
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I’m a believer in the “follow the money” technique to explain destructive economic and social effects.
Wall Street and various financial institutions who over the last half dozen years CAUSED the apparent “loss” of trillions of dollars worth of little peoples’ assets in stocks and related investments, have ended up GAINING even more UNEARNED wealth by being PAID by the same people (taxpayers) who they had fleeced because our trusty GOVERNMENT said that they were “too big to fail”. Of course, they’re even bigger now. But unfortunately, there isn’t too much little people’s wealth left up for grabs in the financial markets anymore.
Now as a result of the economic chaos and financial institutions CRIMINAL lending practices, these lucky lenders have COINCIDENTALLY ended up owning a very large part of the little peoples’ LAST remaining valuable asset, HOMES. Primarily because our trusty GOVERNMENT accidentally failed to properly regulate them.
And COINCIDENTALLY, as First Tuesday recently reported, our trusty GOVERNMENT has altered regulations so that these lucky lenders do NOT have to liquidate these properties for 5-10 YEARS. Thereby allowing them to become massively profitable LANDLORDS until prices have risen such that the REOs can be very profitably sold. Of course, by that time, at the rate things are going, it may be STANDARD for little people to ONLY rent, not “own” SFHs.
Needless to say, once the rental market is as thoroughly controlled by “regulated” big players as is communications (phones, internet etc.) and utilities (energy, water etc.), these lucky landlords can be expected to squeeze as much remaining wealth out of their not-so-lucky tenants as our trusty GOVERNMENT allows.
So, if you were a lucky lender, with virtually unlimited cost-free funds provided by the trusty GOVERNMENT and your trapped depositors, would you rather make it EASY for little people to take this valuable inventory off your hands, or would you be HAPPY and THANKFUL that the trusty GOVERNMENT has coincidentally saddled you with so many inane and ridiculous requirements that the little people market is as minimal as possible?
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