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industry news: The Media Needs A Back To The Future Reality Check - 10/26/08 04:43 PM

 
The Media Needs A Back To The Future Reality Check
Lets compare the Great Depression to the present
Unemployment
25% were unemployed in the United States 60 yrs ago Only 4-6% is the current unemployment rate Banks in serious trouble
1 in 3 Banks were in serious trouble in the great depression Only 1-2% of Banks are in serious trouble throughout the US Stock Value
Over 60yrs ago The Stock Value lost 90% of its value Just recently the The Stock Value lost only 40% of its value (But is almost back to normal now)  
Hellooooo Mcflyyy, Wake … (9 comments)

industry news: Microsoft Helps Turn A Negative Into A Positive - 09/21/08 11:56 PM

 
For the past couple of years, Apple has been aggressively advertising Macintosh's Brand as young, hip and trendy with the famous Im a Mac vs Im a PC ads.
I don't know what happened with Microsoft over the years they just stood there taking a beating from Apple with the domination of the Ipod and Mac sales recently.
If anyting we thought Microsoft was done.....or are they?
Just recently Microsoft has been pushing back to the extreme with.....
* The mojave project ads (an experiment playing off that most people just have that vista sucks in their head … (58 comments)

industry news: Bank Of America Gets Even Bigger With Merrill Lynch - 09/15/08 12:53 AM

 
September 15 2008 Bank of America Announced buyout of Merrill Lynch & Co., inc. for $50 Billion Dollars! [Article]
Merrill Lynch a 94 year old company seemed strong for a long time until recently of talk of the company losing money and ground in Wall Street.
The buyout deal was negotiated in a 48 hour frenzy with the two boards that got approved late Sunday.  Originally Merrill wanted Morgan Stanley to buy out them but didn't have enough time for Morgan Stanley to review the specs.
My 2 cents
Talk about a quick buyout, I wonder if Bank of … (11 comments)

industry news: Option One Mortgage Finally Bought Out - 03/17/08 11:09 PM

Quick 411 from mortgaenewsdaily.com
In other mortgage news, Option One Mortgage Corporation, a division of H&R Block, has been sold to Wilbur Ross for an estimated $1 billion.
Ross is known as a distressed asset investor who has, in recent months, agreed to acquire $42 billion in mortgage servicing rights from American Home Mortgage Investment Corporation and made a $1 billion investment in Bermuda bond insurer Assured Guaranty.
Option One, the fourth largest mortgage servicer in the nation, services about $53 billion of subprime mortgages. These assets, combined with the American Home Mortgage Investment acquisition will give Ross the second largest subprime … (1 comments)

industry news: My 2 cents on Bear Stearns Deal - 03/17/08 10:23 PM

Heres the Quick Wiki: http://en.wikipedia.org/wiki/Bear_Stearns
The Bear Stearns Companies, Inc. (NYSE: BSC) was the parent company of Bear, Stearns & Co. Inc., which was one of the largest global investment banks and securities trading and brokerage firms in the world. The firm's main businesses included capital markets (equities and fixed income), investment banking, wealth management, and prime brokerage clearing services.Following a March 14, 2008 announcement that the firm required emergency financing from the Federal Reserve Bank of New York and JPMorgan Chase in order to avoid insolvency, Bear Stearns suffered a precipitous decline in value with its market capitalization dropping by 47%. … (11 comments)

industry news: Prosper: Peer to Peer Lending. A New type of EBAY? - 03/16/08 02:28 PM
                                                          
 
The Website can be found here http://www.prosper.com
The Wiki can be found here http://en.wikipedia.org/wiki/Prosper.com 
Wallstreet Journal interview here http://online.wsj.com/article/SB120525138644627455.html 
So what is Prosper ? 
Prosper opened to the public on February 5, 2006.  They are an online auction website where individuals can buy loans and request to borrow money. Borrowers set the maximum interest rate they wish to pay, and loan buyers, called "lenders," bid on specific loans by committing a portion of the principal and setting the minimum interest rate they wish to receive on a particular loan. Prosper manages the reverse dutch auction, assembling bids with the lowest interest rates in order … (2 comments)

industry news: HUD rolls out new RESPA reform proposal - Its Official! - 03/15/08 10:42 PM

Its official Hud rolled out the proposed revisions to Respa FINALLY  -- MArch 14th 2008.  To view the Federal Register you can see it here --------> Federal Register
What Hud Says 
HUD says simplifying and standardizing the GFE would make it easier for home buyers to shop around by comparing the fees charged by loan originators, whether they are yield spread premiums paid to mortgage brokers or other fees charged by banks.
The proposed rule would also allow settlement service providers to seek volume-based discounts for settlement services, which HUD believes would lead to lower third-party settlement service prices. Settlement service providers would … (4 comments)

 

Justin Williams - Loan Officer

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