Countrywide not out of the weeds. - 01/31/08 03:01 PM
Florida's attorney general is investigating Countrywide Financial  Corp., a beleaguered California-based mortgage lender, for possible unfair and deceptive business practices related to its home loans. The subpoena, dated Jan. 17, directs Countrywide to provide documents and other information describing procedures used to determine whether borrowers qualify for subprime loans, those for people with shaky credit. The state also wants information on how Countrywide credited borrowers' payments any time after January 2005. It also asks for documents that track applications of borrowers' payments to bankruptcy debt and a description of fees charged to mortgage holders during the same period. "We've had a … (5 comments)

Pulte Homes $1.1B liquidity - 01/31/08 02:57 PM
Pulte Homes rallies to 3-mo. high on improved liquidity; BofA lifts price target January 31, 2008: 11:52 AM ESTNEW YORK, Jan. 31, 2008 (Thomson Financial delivered by Newstex) -- Shares of Pulte Homes (NYSE:PHM) surged to a 3-month high Thursday, as Wall Street cheered the third-largest homebuilder's improved liquidity position.The stock ran up 13% to $15.28, and hit a high of $15.35 in intraday trading, the highest price seen since Oct. 31. The stock turned sharply higher after opening the session down as much as 5.5%.Pulte reported late Wednesday a fourth-quarter net loss of $874.7 million, or $3.46 a share, including … (0 comments)

Pulte Homes gets strong in 08... Good Industry News - 01/31/08 02:49 PM
Pulte Homes rallies to 3-mo. high on improved liquidity; BofA lifts price target January 31, 2008: 11:52 AM ESTNEW YORK, Jan. 31, 2008 (Thomson Financial delivered by Newstex) -- Shares of Pulte Homes (NYSE:PHM) surged to a 3-month high Thursday, as Wall Street cheered the third-largest homebuilder's improved liquidity position.The stock ran up 13% to $15.28, and hit a high of $15.35 in intraday trading, the highest price seen since Oct. 31. The stock turned sharply higher after opening the session down as much as 5.5%.Pulte reported late Wednesday a fourth-quarter net loss of $874.7 million, or $3.46 a share, including … (0 comments)

Stock prices drop, holding rates unchanged... Bonds unsteady - 01/31/08 11:59 AM
Thursday's bond market has opened in positive territory following early stock weakness. The stock markets are giving back some of yesterday's late gains with the Dow down 90 points and the Nasdaq down 19 points. The bond market is currently up 8/32, which should improve this morning's mortgage rates by approximately .125 of a discount point. Today's release of the 4th Quarter Employment Cost Index (ECI) showed an increase of 0.8% that matched analysts' forecasts. This made the data fairly irrelevant to the markets and has not affected mortgage rates this morning.January's Personal Income and Outlays report was also posted this … (0 comments)

Rates to fall sharply this spring. - 01/30/08 02:59 PM
Hey mortgage industry, fear not... pricing gets better. The first FOMC meeting of the year has adjourned with news of another cut to key short-term interest rates. In addition to last week's surprise .750 reduction, the Fed dropped them another .50 of a discount point at this meeting. The move didn't surprise some but did surprise others. The move has been met with mixed reactions in the markets. The major stock indexes are posting stronger gains with the Dow now up 160 points and the Nasdaq up 29 points. However, the bond market has not reacted as well. It is currently … (0 comments)

Fed will continue to fall... J Cramer - 01/27/08 06:17 PM
 
 Fed rate to 1.5% follow link to Jim Cramer... Good Stuff.
http://link.brightcove.com/services/link/bcpid1155328549/bclid1111461880/bctid1387565711
… (9 comments)

 

Chris McDonald

Columbus, GA

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WR Starkey Mortgage, LLP.

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