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From the monthly archives:
October 2007
Wells Fargo continues to show its disdain for jumbo loans originated by brokers by putting in another excessive fee hike for all jumbo loans originated by brokers. The interesting thing about the fee hike is the LTV range is between 80-90% which show an increased sensitivity to the declining home prices seen around the [...]
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Mortgage Lender Implode-O-Meter reported that Citi Home Equity is confirming a business change which withdraws them from the California purchase market – eliminating all purchase money second mortgages offered by the division of Citi. They have taken that business decision one step further by eliminating the Citi Home Equity Correspondent 2nd Mortgages altogether.
This is clearly [...]
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The Fed didn’t surprise anyone today, bowing to the market’s wishes for another .25% cut to the fed funds rate; bringing the benchmark lending rate to 4.5%.
From Market Watch:
While growth has been solid, “the pace of economic expansion will likely slow in the near-term, partly reflecting the intensification of the housing correction,” the Federal [...]
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Zillow announced a while back that they are launching a new mortgage service for the users of their site. They must be getting close, because they are currently recruiting for an industry relations director for their new mortgage opportunity. Todd Carpenter over at Lenderama started a discussion about what possibilities this new venture [...]
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Thanks to my boy Mario for the tip and Happy Halloween to all the Blown Mortgage readers!
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In this edition of the Blown Mortgage Podcast Interview series we talk with Yves Smith, author of NakedCapitalism.com. Yves, a Harvard Business School graduate and frequent contributor to top business publications around the globe, joins us to talk about Structured Investment Vehicles, what the Fed will do tomorrow and much, much more.
If you wanted [...]
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Coming upon us tomorrow is one of the most critical Federal Reserve Board meetings arguably since the one held after 9/11 as markets watch with anticipation to see if the Fed cuts rates or holds them pat. Most people are betting on a quarter-percent rate cut; but others aren’t so sure.
To be honest, after last [...]
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A consumer-advocacy group called the Americans for Prosperity is spearheading a coalition effort of approximately 15 groups in an anti-government subprime mortgage bailout campaign. The campaign kicked off with a letter to all members of Congress calling for the government to resist bailing out home owners who took losing gambles on subprime mortgages.
From the [...]
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After my MAX FEES encounter I’ve had my eye out for more loan-related license plates. There have been plenty, but I’ve had a hard time capturing them for one reason or another. Well, I finally got one worth sharing. I think that many of these license plates will end up like bad [...]
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