Mortgage refinance applications soared last week according to the MBA on the heels of the Fed rate cut. With all the volatility in the marketplace however; many would-be refianciers may be disappointed at the constantly changing rate moves in the market. When a loan officer tells you to lock your rate these days, I would [...]
John McCain is taking a different path in his response to the mortgage crisis that is gripping the nation and financial markets. Where Hillary and Obama are touting multi-billion dollar packages for foreclosure assistance and loan modification, McCain is urging limited government intervention – preferring to let the mortgage mess sort itself out unless events occur that [...]
I’ve got some credit card debt that I’ve racked up over the last few months – nothing super-unmanageable, but I’d rather not have to pay it back. Also, my home value has tanked, since I live in Orange County, CA. I’m not planning on missing any mortgage payments, but I’d rather not pay it. All [...]
According to an analyst covering Bank of America the banking giant may provision up to $6.5 billion for mortgage-related losses when it announces its quarterly earnings at the end of April. Nevertheless the company is expected to post a profit for the quarter.From Market Watch on Bank of America’s $6.5 billion credit writedown:
Bank of America Corp. [...]
Hey gang – just a big thank you for the 1,500 of you who have Blown Mortgage in your feed reader. I remember back when I had 1 and it was me. I am humbled that another 1,499 decided that what Blown Mortgage has to say is worthy of a spot in their readers as [...]
The tightening continues. Look for an announcement later today that all agency SISA is discontinued immediately from Citi Wholesale. More as it develops.
The old adage doesn’t apply to everyone. Not every kid who touched the hot stove never touched it again. Maybe 1 out of a thousand kids doesn’t learn that the darn thing is still hot. Call them challenged, slow, what-have-you, but they don’t get it.
Accredited Home Lenders is that kid. It’s [...]
Mortgage rates were down nearly 50 basis points week-over-week (.5%) as the Fed cut borrowing rates and pumped a whole bunch of “dollars” in to the financial markets to improve liquidity. Such a massive swing shouldn’t be taken as a trend, as rates have been all over the board in recent weeks. As [...]
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