joe samson's Blog: Financing


Mortgage Fraud: Red Flags For Appraisers

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Calgary Real Estate

The Real Estate Council of Alberta (RECA) - Mortgage fraud is increasingly widespread and complex and its consequences can be devastating. It is a criminal offence, and in Alberta several individuals have been charged with mortgage fraud by the RCMP. Participation in mortgage fraud is contrary to the Real Estate Act Rules, and industry members who breach the Rules face strong sanctions, including suspension or cancellation of their authorization.
All industry professionals – whether they are appraisers, real estate associates, or mortgage brokers – must play an active role in preventing mortgage fraud by identifying suspicious deals, notifying the authorities, and assisting in investigation of parties involved. The following information is designed to…

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Posted: 8 months ago, Comments: 0, Average Rating: Views: 305

Dodging Innovation

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Calgary Real Estate

North American & International Economic Highlights - It seems that Mr Dodge is not a fan of mortgage innovation. In recent comments he warned that they help overheat the Canadian real estate market. And who can blame him given the experience south of the border? In the eyes of many, the meltdown of the US subprime market has painted the mortgage market in black and white: Plain vanilla mortgages—good, all the rest—bad.

It’s true that the surge in exotic mortgages since 2004 created an artificial demand in the housing market south of the border, and was primarily behind the current mess in the subprime space. A sharp deterioration in underwriting standards in those years and extremely easy ways of passing on the risks were the main catalysts there.… Read Full Post

Posted: 9 months ago, Comments: 0, Average Rating: Views: 181

Housing Boom Will Falter, Bank Says

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Calgary Real Estate

CBC News - The current housing boom is “unsustainable” because prices in 14 of 15 major Canadian markets are above their long-term trends, the Bank of Nova Scotia economics departmentsaid in a report Thursday.With the exception of St. John’s, N.L., price  levels have risen above the historic rate ofincrease over a nine-year boom, the longest since the end of the Second World War. “There is growing evidence of overvaluation in home prices in some parts of thecountry,” the report said, and “the further domestic home prices climb above underlying economic fundamentals, the greater the risk of an eventual correction.” In nine of the 15 markets, prices are within a few percentage points of the long-term trend. But in six western cities, the… Read Full Post

Posted: 9 months ago, Comments: 0, Average Rating: Views: 195
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joe samson

joe samson Calgary Real Estate Company providing Complete Realtor Service for selling or buying real estate in Calgary Real Estate market and the surrounding areas. Read More

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