Market Update - 11/21/08 11:39 AM
For those of you still doing CalHFA loans, there has been some major revisions to the guidelines.  Remember any Conventional loan changes with CalHFA also affect FHA, VA, USDA, or even Subordinate liens.   Attached are the most recent updates  from CalHFA changing downpayment requirements (borrower's must contribute 3% of there own funds), DTI's, Ficos, etc....in order to preserve current guides on any loans you have in process, including CHDAP 2nds, you must register and lock them on 11/21/08 or you will be subject to the new revisions.  These recent changes are detrimental and will take the incentive out of the program … (2 comments)

Morning Humor - 11/21/08 11:24 AM
Back in 1990, the Government seized the Mustang Ranch brothel in Nevada for tax evasion and, as required by law, tried to run it.  They failed and it closed. Now, we are trusting the economy of our country and 700 Billion Dollars to a pack of nit-wits who couldn't make money running a whore house and selling booze.  Now if that does not  make you nervous, what does ????????????????????????????? … (1 comments)

market update - 11/13/08 12:18 PM
Market Outlook
 
Thursday, November 13, 2008                
 
Price Trend: Negative
Price Volatility:  Very High
Recommendation:  Floating  
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Current Conditions:                Today’s Economic Data (all times PST)
 
FNMA 5.5          99-30    (-5)                   Jobless Claims                           5:30                 
GNMA 5.5          100-11  (-4)                   Trade Balance                            5:30
10yr Yield          3.769%                        
                                                                                   
                                                           
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Commentary:
 
So far this morning bonds have given up some of the gains they made yesterday.  They are, however, off their lows of the day in what has been a volatile morning.
 
Jobless Claims came in quite a bit higher than expected … (0 comments)

Morning Humor - 11/11/08 10:10 AM
A top 10 of irritating expressions has been compiled by researchers at Oxford University.
  By Charlotte Bailey Last Updated: 11:38AM GMT 07 Nov 2008   The phrases appear in Jeremy Butterfield's Damp Squid, named after the mistake of confusing a squid with a squib Photo: Oxford University Press Heading the list was the expression 'at the end of the day', which was followed in second place by the phrase 'fairly unique'. The tautological statement "I personally" made third place - an expression that BBC Radio 4 presenter John Humphreys has described as "the linguistic equivalent of having chips with rice." … (1 comments)

A billion is a difficult number to comprehend, - 11/11/08 10:06 AM
This is too true to be funny.The next time you hear a politician use the word 'billion' in a casual manner, think about whether you want the 'politicians' spending ! YOUR tax money. A billion is a difficult number to comprehend, but one advertising agency did a good job of putting that figure into some perspective in one of it's releases.A. A billion seconds ago it was 1959. B. A billion minutes ago Jesus was alive. C. A billion hours ago our ancestors were living in the Stone Age. D. A billion days ago no one walked on the earth on … (3 comments)

Market Update - 11/10/08 12:12 PM
Market Outlook
 
Monday, November 10, 2008                  
 
Price Trend: Neutral
Price Volatility:  Very High
Recommendation:  Floating   
_________________________________________________________________
 
Current Conditions:                Today's Economic Data (all times PST)
 
FNMA 5.5          99-24    (-1)                   None                
GNMA 5.5          99-31    (-1)                  
10yr Yield          3.781%                        
                                                                                   
                                                           
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Commentary:
  
The news driving the financial markets this morning seems to be the economic stimulus package announced by China overnight.  This boost to the global economy is giving stocks some support.  Bonds haven't figured out how to react to this, yet.
 
With no news on the calendar bonds will likely get direction … (0 comments)