| |
economy: MBS, or mortgage-backed securities, rating agencies under renewed squeeze - 12/01/09 07:07 AM
This is an interesting confirmation of what happened in the market meltdown - with Wall Street marking MBS paper as Triple A when in fact it was loaded with SISA loans. The Attorney General in Ohio is now sueing the Rating Agencies.
Via Esko Kiuru - Las Vegas NV Mortgage Consultant (FHA, VA, Conventional, Refinance, Jumbo):
The unprecedented real estate bubble the nation just experienced was partly created by the credit rating shops that were tasked to value mortgage-backed securities, or MBS. The three large agencies doing that are Fitch Ratings, Moody's Investors Service and Standard & Poor's. The ratings the three arrived at were … (3 comments)
|
economy: What is in the House Stimulus Bill 01/28/2009 - 01/29/09 09:23 AM
This is only part of what the Homebuilders and NAR were looking for - but having the FHA limits here going back up will help... especially when you look at the new PMI guidelines that are coming out. (For information on the Genworth changes announced yesterday, click here going to minimum credit score of 700 in many markets)
Via Pederson Properties, Inc. (Coldwell Banker Residential Brokerage):
Last night, the U.S. House of Representative passed H.R. 1, the Economic Recovery Package, by a 244 to 188 vote. The bill contains a number of issues critical to REALTORS® and the industry, including the extension, … (5 comments)
|
economy: Obama's Inaugural Speech - In CLOUDS! - 01/23/09 01:27 PM
THIS is a totally cool concept - and one that would be a great English Project for my 14 year old! Can you SEE the emphasis? WOW!
Via Craig Rutman North Carolina (Raleigh Area) Realtor (Home Buyer and Seller Specialist):
Regardless of which side of the aisle you subscribe to, today Barack Obama gave a pretty powerful and uplifting inaugural speech. Full of hope and inspiration, even some of America's die hard Republican leaders found it to be an excellent speech.
By now you've either heard it or seen the transcript, but you've probably not seen it in a "word … (3 comments)
|
economy: What I'm Reading About today.... - 01/19/09 03:18 PM
Paul Krugman says be SKEPTICAL of the new ideas regarding Troubled Assets (mortgages)!!
I read this about house prices, and didn't get it...
until I watched the video and looked up ROFLOL (Rolling on the Floor Laughing Out Loud).
House prices, in some areas, still have quite a ways to DROP.
Have you looked at the New Housing Bills that will be debated later this week?
Here's a pretty good consolidation of the Bills... We should be watching these.
And that's what I'm reading today, besides the weather forecast!... It's suppose to S-N-O-W here tomorrow! HotDawg!
-E.
… (8 comments)
|
economy: What Obama Needs To Do To Fix The Economy - OPINIONS - 01/13/09 09:55 AM
Obama recently said he wanted to hear the ideas "out there" for a better stimulus package. Paul Krugman, who recently won a Noble Prize for his Economic Genius, has some ideas... and he recently shared those with Rolling Stones!
In his post, Krugman notes... "One more thing: even with the Obama plan, the Romer-Bernstein report predicts an average unemployment rate of 7.3 percent over the next three years. That's a scary number, big enough to pose a real risk that the U.S. economy will get stuck in a Japan-type deflationary trap."
This doesn't sound good...
According to Krugman.. "There's nothing to … (11 comments)
|
economy: NAR's "Baghdad Bob" Confesses - 12/29/08 09:22 PM
This is just too good to be missed!
Via Matt Heaton (Timu Corp - CEO, ActiveRain - Co-founder):
You remember "Baghdad Bob" from the Iraq War, right? Iraq's information minister who repeatedly claimed no American troops in Baghdad as US tanks patrolled only hundreds of yards from his studio. Well the NAR's very own Baghdad Bob, former Chief Economist, David Lereah was notorious for his bullish optimism during the peak of the housing bubble now admits in a Money Magazine article it was just spin.
As chief economist for the National Association of Realtors, David Lereah was famously optimistic. Now … (7 comments)
|
economy: Use What You Learned on 9/11 To Help Today! - 10/10/08 07:31 AM
"Macy's says that the Consumer might be having some hard times."
That could be the "No Duh" quote for the day. There are TONS of people who are frightened by what's going on in the Global Economy. There are people in their 70s and 80s who are on fixed income who have truly had their worlds rocked... and their children might be some of the folks who have been laid off, lost their homes, or at the very least had their own 401K close to being wiped out.
Now is the time to remember the lessons of 9/11. On 9/11 we knew … (14 comments)
|
economy: Solid Good News about Existing Home Sales! Yippee! - 10/08/08 03:32 PM
Sarah Eubanks came across some Economic GOOD NEWS on a day when we need it! Maybe we're nearing the bottom!
Via Sarah Eubanks ~ Preferred Oregon Loan Consultant & Notary Public:
In today's economic turmoil and heated political scene, we rarely hear news that is uplifting or encouraging. This morning - today - is not any different. I wanted to share with you a glimmer of hope which I found on the MSNBC website today.
While researching the emergency rate cut enacted by the fed this morning, I stumbled across this article claiming, "Breaking News" , but oddly I have not … (3 comments)
|
economy: Fed Cuts Rates - Mortgage Rates NOT Dropping! - 10/08/08 07:02 AM
My email to friends this morning says, "LOCK 'EM IF YOU GOT 'EM!"
GREAT OLE' BIG DISCLAIMER: We are in a little different situation than most of our competitors, because we can allow folks to float their rate down until a few days before closing. If you are working with a "bank" like Wells Fargo, of BofA you might want to wait a few days before locking...
Okay- so the Fed worked with other Global Central Banks and coordinated a rate cut.
Our Fed rates went from 2.0 to 1.5.
If you're in the market for a mortgage, you might think that … (20 comments)
|
economy: Did NC Dodge a Bullet? - 09/29/08 11:02 AM
Wachovia is the second largest employer in the LARGEST CITY in North Carolina. So news that it is being sold to Citi is BIG NEWS here in the Tarheel State!
According to the Charlotte Observer:
"Wachovia will remain headquartered in Charlotte,
while Wachovia Securities will continue to be based in St. Louis.
Citigroup will base its retail bank in Charlotte and
its investment bank in New York."
Whew! I was relieved... we do NOT need massive layoffs in our largest city right now! But then I read down a little further, and there was this news:
"A sale to Citi likely … (6 comments)
|
economy: When Mortgages Get Sold - 09/21/08 01:48 PM
In details released Saturday night of the Paulson Plan, the Treasury intends for us to bailout anyone who purchased "bad" loans. So if you purchased mortgages backed by real estate in the United States, but you live in Dubai, or Spain - our govenrment will include you in the bailout too?
According to Housing Wire "In particular, a section of the fact sheet suggests that U.S. taxpayers may be on the hook for the bailout of foreign corporations as well as those in the U.S. - a significant change from the language sent to Congress in the Treasury's original proposal."
I guess … (9 comments)
|
economy: Do YOU Feel More Secure? - 09/19/08 02:18 PM
Sec. Paulson has been busy! And my gut feeling is that I don't fully grasp a good part of what is being done, what the implications are for mortgage rates, housing affordability, job creation and increased taxes. This is kinda' frustrating to me - because I genuinely work to understand our complicated Economic System.
I know that yesterday there was a moment of "no bid" on the LIBOR... this is bad news. LIBOR is the London Interbank lending rate. Meaning the rate Barclay's (for instance) might lend money to HSBC. This means at NO RATE was anyone loaning money. Similar issues where … (14 comments)
|
economy: Mortgage Bankers Of America 08 Forecast - 01/25/08 09:43 AM
The Mortgage Bankers of America posted an Executive Podcast Forecasting 2008. The comments started with comments addressing how many of our collegues are out of the business, but also points to borrowers who acted in ways that created the current issues we all feel in the Economy. Get a couple of extra cups of coffee - this is pretty dry... and I know you are not surprised... but the overall message to CONGRESS was that we need GOOD laws to help us.
The GSE loan limit increase (meaning Fannie and Freddie would have one year to consider loans under $730,000 at conforming limits) and potentially … (10 comments)
|
economy: Recession and Countrywide - 01/09/08 09:14 AM
Well, I've said for weeks that I think we are in a recession. This morning Goldman Sacks agreed. They feel that the GDP will continue to fall during the First and Second Quarter of 2008 - forcing the Fed to lower it's rates by 1.75%.
Could COUNTRYWIDE be to blame for this?? Well, according to CNBC:
"Shares at Countrywide Financial [CFC 5.16 -0.31 (-5.67%) ] , the largest mortgage lender, fell 27.4 percent Tuesday on an rumor the company denied that it was facing bankruptcy. Early today, the company said its mortgage funding was up 1 percent in December and its … (6 comments)
|
|
|
|
|
|
Eleanor Thorne 919-649-5057 Cary Mortgage Loans
Cary,
NC
More about me…
Steve Thorne NC Mortgage Experts
Address: 111 Corning Road, Suite 230, Cary, NC, 27518
Office Phone: (919) 649-5058
Cell Phone: (919) 649-5057
Email Me
 Listings
Links
Archives
|
;)
;)
;)
