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Movie Premier: I.O.U.S.A. - August 21 debut - 400 Theatres
MortgageNewsClips | 7 hours ago by MortgageNewsClips
YOUTUBE MOVIE TRAILER click here A friend told me about this. Here is an unusual opportunity to hear people like Warren Buffet, CEO of Berkshire Hathaway, and David Walker, newly retired U.S. Comptroller General (an read more
Chase bumps extension fees, Investors brokering out, And the Bank…
MortgageNewsClips | 9 hours ago by MortgageNewsClips
Nancy Pelosi demanded a new round of stimulus checks for Americans. “The last check didn’t work out so well. The people who spent it are broke again and the people who put it in the bank are waiting for the bank to open so they can get it out read more
MortgageNewsClips: Reverse Site, Ocwen Transcript, CDS for Finan…
MortgageNewsClips | 11 hours ago by MortgageNewsClips
State launches senior-friendly reverse mortgage site - Boston Business Journal ———— Ocwen Financial Corp. Q2 2008 Earnings Call Transcript - seeking alpha ———— MS and Goldman change approach to le read more
Calling it a Subprime Crisis is Sooo Last Year - by Kevin Griffin
MortgageNewsClips | August 19th 2008 by MortgageNewsClips
What began as a Subprime Crisis last summer has taken many twists and turns, claimed so many victims. History books may end up calling this crisis the Subprime slash Deleveraging slash LIBOR slash Auction-Rate Securities Crisis. On read more
August 19th: the new housing law & reverse mortgages, and many, m…
MortgageNewsClips | August 19th 2008 by MortgageNewsClips
Yesterday investors were throwing around guideline changes like candy from a 4th of July float. But first a quiz: what cookie company, founded 31 years ago, just filed for bankruptcy? Mrs. Fields, of course. Mrs. Fields will continue its cookie busi read more
All quiet for mortgage news & rates for August 18th
MortgageNewsClips | August 18th 2008 by MortgageNewsClips
Halfway done with August already? I know that autumn is near since the clothing in the center aisle of Costco indicates that shorts and t-shirts have given way to slacks and sweaters. It also means the end of summer vacations for many people – read more
The Garrett, Watts Report (August 18, 2008)
MortgageNewsClips | August 18th 2008 by MortgageNewsClips
To Our Clients, Colleagues and Friends: · You know how sometimes you’re on a cell phone call and the call gets dropped? You call the person back, but you get voice mail since he’s trying to call you back at the same time. Here’s our so read more
MortgageNewsClips: Hypocrisy, Litigation, $1 Detroit, Prudent Sal…
MortgageNewsClips | August 18th 2008 by MortgageNewsClips
from BC - I have a complaint - The NYT accepted ad revenue and ran these ads. Now they imply the ads were bad. Isn’t that a bit hypocritical as they accepted advertising revenue, and now criticize? - thanks to 3 readers for pointing thi read more
Aug 15th: quiet in mortgage land, although rates are lower, and g…
MortgageNewsClips | August 15th 2008 by MortgageNewsClips
It was one year ago today that First Magnus threw in the towel. Hopefully all those folks have landed on their feet, either through StoneWater Mortgage or other lenders… “I’m a vegetarian not because I love animals, but because I h read more
On the Eights
MortgageNewsClips | August 15th 2008 by MortgageNewsClips
Watching the Weather Channel can be addictive. When I have finished my nightly ritual of fried chicken and Andy Griffith, I turn to the Weather Channel. Tracking storm cells, hurricanes, and cold fronts is cheap entertainment. In the spring and summe read more
MortgageNewsClips: Prime Next?, Slam Door - Cows Gone, PE Distre…
MortgageNewsClips | August 15th 2008 by MortgageNewsClips
Prime Mortgages Threaten Potential Housing Recovery - CNNMoney.com published an article today that reiterates a point I brought up three months ago in a blog titled, “The Next Mortgage Crisis: Prime Borrowers.” CNN’s article relat read more
The Garrett, Watts Report (August 14, 2008)
MortgageNewsClips | August 14th 2008 by MortgageNewsClips
To Our Clients, Colleagues and Friends: You can put your money into a Wamu CD and earn 3-4%, but how about their 4% notes maturing January 15 of 2009? They’re trading at 85, so you’ll earn the 4% interest plus the 15 points (par – 85) for h read more
8/14: Job opening in Florida, Fannie pushes out adverse market ch…
MortgageNewsClips | August 14th 2008 by MortgageNewsClips
There’s a mortgage-related job opening in Florida! Florida’s top mortgage industry regulator (Financial Regulation Commissioner Don Saxon) resigned due to allegations his agency let thousands of convicted criminals, including bank robbers and read more
MortgageNewsClips: Securitization is Broken, Loan Performance HP…
MortgageNewsClips | August 14th 2008 by MortgageNewsClips
Mechanism for Credit Is Still Stuck - VIKAS BAJAJ - a crucial artery of modern money management remains broken. And until that conduit is fixed or replaced, analysts say borrowers will see interest rates continue to rise even as availability worsens read more
$500BB and Counting - comment by Kevin Griffin
MortgageNewsClips | August 13th 2008 by MortgageNewsClips
UBS announced $5.1BB in writedowns for Q2, and JPM surprised the markets by announcing a $1.5BB loss on mortgage-basked assets for Q3. That puts the writedown tally at just over $500BB vs. total writedowns expected to reach $1TR or more when all is read more
August 13th: FHA updates, rates slide lower
MortgageNewsClips | August 13th 2008 by MortgageNewsClips
What kind of loan do consumers want? Is that like asking, “What kind of camera do you want?” “Feature creep” is a common problem with items like cameras and phones, with appliances, cars, etc. having user manuals over a hundred pages long and read more
The Garrett, Watts Report (August 12, 2008)
MortgageNewsClips | August 12th 2008 by MortgageNewsClips
To Our Clients, Colleagues and Friends: · Discouraged at how tough the business is these days? Hey, in the early 1980’s, FNMA actually hit 19%, and FHA loans were 17.5% with a six point discount. We know it can be difficult out there, but at lea read more
News from Chase, Radian, Changes at Wells wholesale and FAMC
MortgageNewsClips | August 12th 2008 by MortgageNewsClips
One thing to watch out for in the coming months for FHA investors: the number of properties owned by a borrower. Agents and brokers have already noticed the number of properties that are allowed under Freddie/Fannie guidelines constrict for practical read more
MortgageNewsClips: Freddie Advisory, CDS 2 Articles, Income Rank…
MortgageNewsClips | August 12th 2008 by MortgageNewsClips
Freddie Mac Single-Family Advisory - has lots of bullet points tightening their underwiritng standards - Freddie Mac ———— Credit-default swaps more resilient than other markets - Karen Brettell - Moves by the U.S. g read more
ResCap goes after brokers, Freddie and FAMC adjust fees, Wachovia…
MortgageNewsClips | August 11th 2008 by MortgageNewsClips
On Friday mortgages “tightened” to Treasury yields, but prior to that Treasury yields were dropping and mortgage rates weren’t doing much. Why? The credit-market slump is again increasing mortgage rates, raising costs for home buyers and refina read more
MortgageNewsClips: Jim Rogers Video, GSE Dividends, 2010, Mozilo,…
MortgageNewsClips | August 11th 2008 by MortgageNewsClips
VIDEO: Jim Rogers Speaks the Truth about Fannie Mae and Freddie Mac (we double the national debt by $5 Trillion in one weekend) - youtube ———— Nobel Economist Stiglitz Outraged That Fannie (FNM), Freddie (FRE) Paying Divide read more
MortgageNewsClips: Go To L, Clif Droke, PIMCO on Japan, Get Down,…
MortgageNewsClips | August 10th 2008 by MortgageNewsClips
One L of a global banking crisis - Jon Markman - An expert on the world financial picture sees a painfully drawn-out recession spreading through financial institutions nearly everywhere. He also offers suggestions for riding it out. - MSN Money &# read more
The Garrett, Watts Report (August 8, 2008)
MortgageNewsClips | August 8th 2008 by MortgageNewsClips
To Our Clients, Colleagues and Friends: · Investors who own ResCap bonds have to pay $8 million upfront to insure $10 million in ResCap bonds for five years. Ouch. These are through so-called Credit Default Swaps. · Our newsletter earlier thi read more
Fannie’s losses, Wachovia stops branch-level mortgage originati…
MortgageNewsClips | August 8th 2008 by MortgageNewsClips
I don’t have exact numbers, or any numbers for that matter, but I imagine that many agents and brokers are turning to Amway as a financial bridge during these difficult times. Yes, Amway - based in Michigan. Also known as Quixtar, it is a multi-lev read more
MortgageNewsClips: L Shaped, Retire Early, Danske Report, CRMPG…
MortgageNewsClips | August 8th 2008 by MortgageNewsClips
Continuing Job Claims and the “L” Shaped Recession - Minyanville Professor Bennet Sedacca posted a stunning chart this morning on continuing unemployment claims. Here it is. - MISH’s Global Economic Analysis —— read more
HA has Helped 300,000 Families with Government-Backed Mortgages
Realty Tribune - Real Estate and Housing Market Review | August 7th 2008 by AP
U.S. Department of Housing and Urban Development Secretary Steve Preston announced that 300,000 families have refinanced their mortgages with HUD’s affordable mortgage insurance program. Since September 2007, FHASecure - the Federal Housing Adm read more
Aug 7th: the importance of Jobless Claims, and Fannie’s price c…
MortgageNewsClips | August 7th 2008 by MortgageNewsClips
What is in the news today besides Brett Favre being traded to the NY Jets and actor Morgan Freeman getting divorced after 24 years of marriage? The Olympics! “Staying afloat in a sea of drowning mortgage employees” is not an Olympic sport this ti read more
MortgageNewsClips: No Collapse, 2010, Fleckenstein Book, Homebui…
MortgageNewsClips | August 7th 2008 by MortgageNewsClips
Housing Collapse Ahead? - Not According to the Data - By Charles W. Calomiris, Stanley D. Longhofer, William Miles - Washington Post AEI ———— 1. The Sun Will Come Out… In 2010, Part 1 - Bennet Sedacca - Minyanvil read more
August 6th: First Fed makes the WSJ, Freddie’s earnings, Morgan…
MortgageNewsClips | August 6th 2008 by MortgageNewsClips
What coffee drinker doesn’t want to open up some market commentary and get a coupon for free coffee? - (coupon removed it was bogus) You have to right click and save it as a picture to your desktop. Then open it from there and pri read more
MortgageNewsClips: Get Scared, Alt-A Default Wave, Credit Card A…
MortgageNewsClips | August 6th 2008 by MortgageNewsClips
very detailed list - Wanna Get Scared? - Moody’s & Fitch Join S&P in Massive Alt-A Downgrade Avalanche - MR Mortgage ———— Housing Lenders Fear Bigger Wave of Loan Defaults - VIKAS BAJAJ - The first wave of Ameri read more
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