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Banking & Insurance Professionals
Mortgages market
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marketing, product, financial services, retail banks, banking, analytics, distribtuion, mortgages, housing loans
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Banking
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About "Mortgages market" topic:
The types of mortgage that are accepted in the Indian mortgage industry for the facilitation of mortgage loan are varied. Until recently, the Indian mortgage market was under the unorganized sector. But then the Government of India's liberal economic policy in the late 1990s which facilitated the entry of foreign institutional investors the (FIIs) and foreign direct investment the (FDI) in the Indian market. The Indian markets which were previously closed to such investments registered tremendous economical growth across all industry sectors. So how is the mortgage market currently in the country, and let us have an discussion and share our thoughts on the topic.
2 trends
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, 1 idea contests
, 2 question
on topic: "Mortgages market"
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What we learn from the present crisis abroak
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What actually transpired !
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Jyoti Rath
| Supported idea
"What we learn from the present crisis abroak"
| 4 years ago
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I agree with all the points mentioned by Mr.Mathew.Lenders and their mortgage originators steered borrowers who were short-sighted,unqualified, greedy or all of the above into adjustable rate loans which had extremely low starting interest...
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Mathew Cherian
| Added idea
"What actually transpired !"
| 4 years ago
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What Mr. Vivek wrote may not be altogether right because American has strict contract laws and if any one manipulates contrac agreements then they tend to face 'punitive damages' on top of normal damages awarded. What transpired is like this....
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Mathew Cherian
| Supported idea
"What we learn from the present crisis abroak"
| 4 years ago
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Thank you Jyothi, there were mistakes in selling the mortgages as well as how that was used in creating other derived financial products. It was a big circle from borrowing from the LIBOR window, lendin it out into mortages, stripping them and...
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Ideate: "What can we learn from the Sub Prime Mortgage Collapse?" deleted from your view.
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Anger among homeowners about President Obama's foreclosure bailout plan boiled up to the White House yesterday as press secretary Robert Gibbs unleashed a barrage of criticism at a former trader whose rant against the plan this week made him a cable and Internet phenomenon. Rick Santelli, a CNBC reporter who exploded in a tirade Thursday from the Chicago Board of Trade, has accused the president of crafting a housing bailout that is unfair to the millions of responsible mortgage holders. 'Government is promoting bad behavior,' Santelli said on his network. He called for Obama to put his plan to an Internet referendum 'to see if we really want to subsidize the losers' mortgages, or would we ...
Trends: "Mortgage-Aid Tiff May Portend a New Wave of Class War - Obama" deleted from your view.
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Shabana Khan
| Answered
| 4 years ago
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Better service, better rates, access to a greater variety of mortgage programs, personalized service and advice, and ongoing equity- and debt-management tools. Our priority is ensuring clients are happy versus selling a particular lender's loan...
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Answer: "Why should I use a mortgage consultant to obtain my home financing?" deleted from your view.
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Sandip Gunjal
| Answered
| 5 years ago
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Unless you have begun construction of a home on the bare land that you can occupy within 24 months the interest you paid on the second mortgage would not qualify as deductible mortgage interest.
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Answer: "I have a mortgage for my primary residence and a second mortgage for land that I intend to build a home on. Can the..." deleted from your view.
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There have been a lot of changes in the mortgage industry due to the recent subprime mortgage collapse, We have all heard about the collapse of the sub prime mortgage industry, but do we understand exactly what is involved? Certainly if you are a victim in this crisis, you may have some idea about what is going on, but few people are aware of how connected one part of our economy is to the other. The collapse of the sub prime industry has affected everyone in the housing market, buyers and sellers, those with sub prime mortgages and those without. It has also affected contractors, real estate agents and anyone else who makes a living in the housing industry. To simplify the problem that dev...
Insight: "Credit Crunch And Mortgage Industry" deleted from your view.
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ICICI Bank is a big money-center lender that deals with sizable companies in Bombay, Bangalore, and New Delhi. It is also one of India's biggest consumer lenders. So why does Nachiket Mor spend a lot of time in India's economically depressed rural hinterland looking for prospective borrowers? He recently visited a family of five living in a soot-covered hut, getting by at barely subsistence levels in the North Indian state of Uttar Pradesh. Mor signed off on a one-year, $130 loan that will allow the family to buy a buffalo and sell its milk. And written into this loan contract is a most unusual clause. If the animal isn't milking, the family gets a moratorium on its monthly loan repayment. ...
Insight: "Mortgaging Lending" deleted from your view.
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Reverse Mortgages: Loan against your home Each country will have specific features for the product that need to be understood based on where the property is situated. The National Housing Bank (subsidiary of Reserve Bank of India) has described the principles of the product in a presentation dated Feb 2007. The presentation is available at http://www.nhb.org.in/ . To summarize, product features are: 1. Senior citizens in India are eligible. Main criteria are that one of the spouses needs to be a senior citizen and house where they live in India needs to have been fully paid up. Income criteria is not to be used for this loan 2. Loan is for a max term of 15 years and will be against the hous...
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Suryanarayan Murthy
| Commented
| 1 year ago
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It is yet to catch up in India, I believe.
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Chirag Kabani
| Commented
| 4 years ago
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10. The loan can be paid off at any time without any prepayment penalties. Most of Pvt banks Charge 2-4 % as pre-payment charges ... s thier a way u can ask for a waiver ..they Claim to say u have Signed the agreement before taking Loan
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Insight: "Reverse Mortgages in India: Loan against your home" deleted from your view.
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The subprime mortgage crisis was a sharp rise in home foreclosures which started in the United States in late 2006 and became a global financial crisis during 2007 and 2008. The crisis began with the bursting of the housing bubble in the U.S. and high default rates on subprime and other adjustable rate mortgages (ARM) made to higher-risk borrowers with lower income or lesser credit history than prime borrowers. Loan incentives and a long-term trend of rising housing prices encouraged borrowers to assume mortgages, believing they would be able to refinance at more favorable terms later. However, once housing prices started to drop moderately in 2006-2007 in many parts of the U.S., refinancin...
Insight: "Subprime mortgage crisis" deleted from your view.
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Many borrowers use a refinance to shorten the term of the mortgage. And brace yourself, even at low rates, a shorter term means a higher monthly payment. The benefit is that you'll build up equity faster and pay far less in total interest over the life of the loan. Refinancing is when you apply for a secured loan in order to pay off another different loan secured against the same assets, property etc. If this original loan had a fixed interest rate mortgage which has now declined considerably, then you would like to avail of a new loan at a more favorable interest rate. Typically home refinancing is done when you have a mortgage on your home and apply for a second loan to pay off the first ...
Trends: "Build Equity By Refinancing Your Mortgage" deleted from your view.
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Mortgage when explained in the simplest terms is nothing but along-standing loan that is used to finance the acquisitions of a real estate property. As the borrower or mortgagor has to repay back the loan to the debtor or the lender, he or she has to do it by the loan principal plus has to pay some interest. This is the way to progressively bring back the equity or the equal share in the property. In any kind of mortgage, property can be used but the mortgagor is not entitled to use the title of it. At the end of a stipulated month or years after the entire loan has been paid back, it becomes easy to own the property. It is a very common phenomenon to have the interest rates on mortgage at ...
Insight: "How to Get Approved in FHA Compliance" deleted from your view.
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