The mortgage market in major changes brought about as the mortgage crisis in America, and the January stock crisis. What are the borrowers in the current troubled times can rely on credit, found "owner." "A number of borrowers who were quite interested in the banks in early 2007, now can not count on getting credit," - said at a news conference controlling unit director "Retail business" of the Bank of Moscow Alla Tsytovich. Basically it refers to the businessmen, as well as to people with unverified income. The head of the company "Fosborn Home» Vasily Belov said that in the autumn of 2007 tightened underwriting and potential borrowers to the banks began to scrutinize. "Currently, the market for more stringent requirements of banks to the quality of borrowers checked all the data" - the head company of mortgage center MGSN Mikhail Romanov. "Banks today are interesting borrowers with fully verified" white "or income with most of the" white "income, good assets" - describes the tendency Rzayev Christina, director of sales NBIK. "Salaries are not keeping pace with prices, so the circle of buyers" from scratch "has been steadily shrinking," - adds the Deputy Director General of "National Realtor group» (NRG) Alain Kiprielova. Another important trend is the beginning of 2008 - increasing the down payment. "Significantly reduced the number of programs with no down payment," - says Vasily Belov. Many banks have increased the size of the borrower's down payment from 10 to 20-30 per cent, notes Alain Kiprielova.
Thursday, December 8, 2011
Mortgage for a free artist
In recent years, many experts have freelancers: they are not registered in the state of a company and earn a one-time orders. Income for free bread can be quite sufficient for obtaining a mortgage loan, but there is a chance to prove it to the bank? Monthly earnings of remote workers sometimes even several times larger than the salaries of professionals that are prepared in the state. The catch is that, as a rule, employers do not support their relationship with the freelancer in the workbook. The contractual relationship is not always drawn on paper, do not pay taxes. The money passed from hand to hand or through electronic payment systems. It turns out that there is no official confirmation of employment. Meanwhile, lenders impose strict requirements for employment of the borrower. Among the documents that must be presented to the bank to pass underwriting, a copy of the work book, its the same borrower is required to regularly provide throughout the loan term. According to Andrew Trutko, a specialist mortgage brokerage division of "Credit Max," "as a rule, banks are very selective work with such clients, and some do not work at all. The absence of a potential borrower's employment record indicates that he is not employed. " In free-swimming mostly go by representatives of professions that are not associated with a permanent presence in the office of the advocate, programmers, designers, journalists, translators, photographers, artists, and artists.
Mortgages: rates rise, the nuts are twisted
The life of the mortgage come unsweetened times. Recall that in January there were two notable and not very pleasant event. First, the central bank acknowledged that the liquidity situation does not matter: because of the crisis in global financial markets, our banks, occupying low-cost funds in the west, or have lost this opportunity, or they will accrue money on more stringent conditions. Secondly - The Supreme Arbitration Court ruled that banks can no longer require the borrower to insure his life. Bankers said they then have to raise rates. Internet Journal of Real Estate has decided to ask Metrinfo mortgage market professionals about how to affect the mortgage rates of a liquidity crisis and a decision on the illegality of EAC requirements to insure the life of the borrower. We asked the experts the following questions: 1. Due to what the banks will join "their coffers" - will draw funds from the public, will develop a secondary market for mortgage-backed securities? 2. Will the domestic ruble mortgage because of credit difficulties in the West? 3. Will increase if mortgage rates for these reasons - financial crisis and the solutions YOU? 4. Will the tightened requirements on borrowers? Banks will be released to the world standards Ilya Zebari, the head of the block, "Mortgage loans" Alfa-Bank: 1. Banks strengthen efforts to attract private deposits, raise interest on deposits. In addition, renewed efforts to sell mortgage portfolios. 2. On dollar loans is likely rate hike, it is connected with the "fall" of the dollar, and the mortgage crisis in the U.S., which led to a rise in foreign debt.