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Tougher rules give rise to new tactics for mortgage shoppers
Though the baseline standard for a new qualified mortgage is that a borrower's total debt-to-income ratio should not be greater than 43 percent, lenders say there is wiggle room if you search for it. For example, conventional loans being sold to giant

Foreclosures up locally, bucking national trend
In New Jersey, the State Supreme Court imposed a formal moratorium on foreclosures that did not thaw until the March 2012 sweeping settlement between major mortgage lenders and various states. But Blomquist said neither Pennsylvania nor New Jersey 

3 Things to Know Before Shopping for Your First Home
However, when looking at some of the mortgage calculators and home affordability calculators available online, some of the numbers can be deceiving. There is much more of a cost In New Jersey, the figure jumps to $6,400. In terms of a monthly

Low delinquency rates prove mortgage lending's too tight
Low delinquency rates prove mortgage lending's too tight The newest poster children are New York and New Jersey, with delinquency rates of 12.4 percent and 14.6 percent, joining Florida still at 14.6 percent, all three boosted by self-inflicted local legal mire and flinching from foreclosure. California and

Morganville New Jersey Mortgage Lenders Brokers - Emergency Report - Don't obtain a mortgage in Morganville, NJ until you watch this special video by mortgage lender and ...

TRANSACTIONS: Meridian negotiates six Union City multifamily mortgages; Hakimian Capital funds Brooklyn deal

•$3,600,000 For a newly gut renovated, three-story brownstone containing 8 luxury apartments, located on Park Place in Brooklyn, New York. Matthew Albano, Managing Director of GCP Capital Group, arranged the financing for this transaction.


Hirshmark Capital , through an affiliate entity, announced the funding of a $1,450,000 bridge loan secured by a multifamily in the Ridgewood neighborhood of Queens and a multifamily in the Rockaway neighborhood of Queens. The subject properties total over 12,000 s/f and contain 11 residential units. The borrower needed capital to refinance. The transaction was negotiated by Hirshmark’s Jake Soodek.


Houlihan-Parnes Realtors , represented by Andy Greenspan and James J. Houlihan , placed new three-year financing on two 40,000 s/f buildings at 30 and 40 Ramland Road in Orangeburg, New York. The properties have been owned and managed by GHP Office Realty for 15 years and have undergone extensive renovation over time.  The fixed-rate loan features a flexible pre-payment plan and also includes an option for a five year renewal. The borrower was represented by Elizabeth Smith and John Hogan of Goldberg Weprin Finkel Goldstein, and title was placed through Chicago Title Insurance Company.

New study looks at growth, dysfunction in California housing

The study found that California has the highest home prices of any state. The state’s median home price in 2016 was $266,750, greater than the median home price in the US as a whole. California homeowners also spent more of their income on housing than those in other states except New Jersey. In 2016, the share of income spent on housing for Californians was 21.9%, down from 22.5% in 2014.

The report also revealed that housing construction has been slow following the recession. From 2008 to 2017, an average of 73,000 new housing permits was issued per year, far lower than the average of 135,000 permits issued annually between 1991 and 2007. California has the second-lowest rate of homeownership and worst rate of rental housing over-crowdedness in the country.

“California is sinking deeper into a housing crisis, and this raises questions about the sustainability of the state’s overall economic growth,” Next 10 Founder F. Noel Perry said. “California continues to draw more high-earning, educated people from other states and countries, but the ever-increasing cost of housing is forcing lower and middle-income Californians to leave the state in hopes of finding more affordable housing.”