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mortgage market meltdown: Telenovelas Killed the Mortgage Market - 12/09/08 03:38 PM
As I was pondering what I could write about today, it dawned on me that it may very well be time to bring back my post on ActiveRain where I showed that the fact Telenovelas were being used to educate Hispanics on home ownership was forecasting the destruction of the mortgage market. I did that original post, Interesting Way to Forecast the Destruction of a Market, back on January 9, 2007. Shortly thereafter, the subprime market collapsed, followed by the entire mortgage market, along with the housing market's continued demise.
Since Hollywood is batting 1000 on forecasting market collapses, keep a … (3 comments)
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mortgage market meltdown: Did Anything New Come Out of the Hole? Jackson Hole that is. - 08/31/07 12:45 PM
As you more than likely already heard, Big Ben Bernanke was speaking today in Jackson Hole, Wyoming. What is amazing is how investors and analysts really wanted to get him to say if the Fed Funds Rate was going to get cut on Sept. 18th. Yeah, like that was going to happen. I will get into the reasoning why later.
Big Ben did say something that is a hint of what will likely happen, and that is that downside risks have risen "appreciably" and that losses attributed to the credit markets have "far exceeded even the most pessimistic projections." Remember that we … (4 comments)
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mortgage market meltdown: Is Countrywide's Leader Trying to Persuade the Feds? - 08/23/07 12:32 PM
In an exclusive interview on CNBC today, Countrywide's CEO Angelo Mozilo mentioned a few things that may have been intended to help persuade the Federal Reserve to cut rates.
Mozilo mentioned that he thought the US economy was headed into recession and that more liquidity was needed to stabilize the markets. Two things that clearly are aimed at the decision the Federal Reserve needs to make about further cuts in the Discount Rate and even a cut in the Federal Funds Rate at their meeting next month.
So, let's analyze why he made these comments and is he afraid that Countrywide is still … (2 comments)
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mortgage market meltdown: Did the Feds Already Bailout Countrywide? - 08/21/07 11:48 PM
Interestingly enough, the Federal Reserve Board cut the Discount Rate last Friday in an effort to increase liquidity in the crumbling financial markets. This rate has no effect on mortgages, but it allows banks, including lending institutions, access to "borrowed" money. Additionally, the Feds extended the borrowing period of these funds to thirty days.
While that helped the markets overall, the most interesting part is the potential hidden reasoning behind that move. As I have said before, I highly doubt the Feds would let Countrywide go under, though a bankruptcy trip would not be out the question. The reasoning is that the … (26 comments)
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mortgage market meltdown: Will the Mortgage Industry Follow the Likes of the Airline Industry? - 08/17/07 01:00 PM
With all of the lenders falling apart right now and the troubles that have shown their ugly head at Countrywide, I fall back to my first career as an airline pilot for guidance. Yes, troubles have been nothing new to either industry and the cycle of turmoil that affected airlines over the last two decades have similarities to that of the mortgage market meltdown.
Since the late 1980s, airlines had been both down, up, and down again with them now returning an upward trend. During this time frame, multiple "big name" airlines, as well as smaller air carriers, have gone under or … (5 comments)
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mortgage market meltdown: Will Countrywide be the Next Victim of the Mortgage Market Meltdown? - 08/16/07 03:19 PM
The big question of the day is where will Countrywide, the nation's current leader in mortgage originations, be at the end of the year. A bigger question may even be...will they exist at all?
That's right, as I have mentioned before (on at least one of my blog's), Countrywide may end up facing the same fate as American Home Mortgage (was the #10 lender) did a couple of weeks ago. When AHM went down for the count, the media went into a frenzy (I was even quoted in a Marketwatch article). Imagine what will if Countrywide goes belly up.
Today, CW took out … (21 comments)
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Robert D. Ashby
Miramar,
FL
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