Indymac: What Went Wrong?

As IndyMac Bancorp battles questions about its financial stability, a new report from the Center for Responsible Lending provides evidence that IndyMac put itself in a hole by engaging in unsound and abusive lending during the nation’s mortgage boom.

The report, “‘IndyMac: What Went Wrong?,” finds substantial evidence that IndyMac routinely made loans with little regard for their customers’ ability to repay the loans. Read the story »

Fed Issues New Lending Rules

The Federal Reserve on Monday adopted rules designed to protect home buyers from the kind of loans that drove many into foreclosure.

The new rules apply to all lenders and not just to banks supervised by the Fed. Most are expected to take effect Oct.1, 2009. New escrow requirements won’t go into effect until April 1, 2010. Read the story »

Spicy Markets: Emerging Opportunities in Latin America

While global investors and developers have plowed money in Mexico’s commercial real estate markets for several years, they’re now moving deeper into the Latin America region.

Both U.S. and European real estate investors are showing growing interest in acquiring assets and developing new projects in Latin America, a region where property prices have generally been lower and yields higher than in their home markets, according to experts. Moreover, the investment arena in Latin America isn’t as crowded as more established markets. Read the story »

Investors With Cash Are Kings in Today’s Market

Some are calling this the best market for investors since real estate tanked in the early 1980s. Investors, alone and in groups, are negotiating volume deals as they purchase whole subdivisions and bundles of 10 to 50 defaulted loans for pennies on the dollar. Read the story »

South Florida Panel Sees Mixed Challenges

A tight credit market, unemployment and impact fees are slowing business in South Florida, according to industry leaders who participated in a forum sponsored by the University of Miami School of Business Administration.

The panel included such firms as The Related Group, Carlisle Development Group, Ponce Circle Developers, CB Richard Ellis, BankUnited and Condo.com, among others. Read the story »

Builders Bank on Turnaround, Buy Up Land

Builders, including Lennar Corp, KB Home, Hovnanian Enterprises Inc, Meritage Homes Corp., are back buying and developing land again.

Lennar spent $162 million on new land in the second quarter and will spend at least $200 million more by the end of the fourth quarter, JP Morgan analyst Michael Rehaut wrote in a note to clients. KB expects to spend $300 million on land and $400 million on land development this year, Rehaut said. Read the story »