What is another 800,000 or so…

The job market lost 820,000 jobs last month. Well not exactly last month. This number included the 'adjustment of statistics' for the past year. In this column we will not get into how the government miscounts so badly. However, we will point out that it just makes the deep recession we are coming out of even deeper. Eventually we must replace all of these jobs and we have dug ourselves quite a hole to climb out of. Certainly this makes the jobs programs proposed by the Administration more likely to become law as the next phase of stimulus kicks into gear.

And certainly, the fact that there would be such a significant adjustment is one reason the stock market became so volatile this week. Thursday was particularly brutal, especially when we mixed in concerns about the debt of foreign governments. When you remove this big adjustment, the numbers for January were not all that bad. The loss of 20,000 jobs is not positive, but it still is much better than the hundreds of thousands of jobs we were losing just a few quarters ago. However, it is still a long way from recovering from seven million jobs lost. This does help by way of the fact that it takes some of the upward pressure off of rates, oil prices and other commodities, at least in the short-run

The FHA-backed 203(k) rehab loan is an increasingly popular option in today’s market because so many available properties, especially foreclosures, are in need of repair. A streamlined 203(k) provides money to pay for improvements such as a new roof, appliances, furnace, energy-efficient windows, and cosmetic improvements like carpet, paint, and remodeled kitchens and baths. The maximum loan available is $417,000 (Burlington County NJ) and allows you to use 110% of the "After-Improved" value for Lending Purposes.

The buyer must put down 3.5 percent of the acquisition. At closing, the seller is paid and the remaining money goes into an escrow account to pay for repairs. A licensed contractor must complete the work within six months. Some lenders allow the borrower to do minor cosmetic work like painting themselves. Source: Minneapolis-St. Paul Star-Tribune

Green market research firm SBI Energy forecasts that in the next five years, the market for energy-efficient home renovation products will grow 15 percent, 50 percent faster than the renovations market as a whole. According to the report, the energy-efficient market will reach $35 billion and claim 15 percent of all home renovation dollars spent. 'The growth will come as a result of the tax credits, new incentives, and the reality that more agencies and utilities are promoting the fact that adding improved energy efficiency is the most cost-effective way to decrease home utility bills,' says Norman Deschamps, author and SBI Energy analyst. Source: SBI Reports

Falling prices for real estate and the declining value of the dollar are luring investors from all over the world to purchase properties for as little as half what they might have paid four years ago. 'This could be a once-in-a-generation opportunity for real estate investment,' says Arthur Wong, whose Calgary, Alberta-based U.S. Real Estate Fund has invested $5 million in properties in the U.S. Southwest and plans to buy millions more. Buyers from countries like Brazil, Canada, France, and the Netherlands, whose currencies are particularly strong against the dollar, are spending millions on luxury condos in New York City, Las Vegas, and Miami. Foreign buyers also find the warm climates of California, Texas, and Arizona attractive. Peter Zalewski, a principal with Miami-based Condo Vultures, says he has sold foreign condo buyers seven bulk deals in downtown Miami alone, with investors coming from Argentina, Canada, Colombia, Italy, Norway, and Venezuela. Source: MSNB

Thu, Mar 12 - 5:00 PM ET
Market Wrap: Our benchmark 4.5% mortgage bond rallied for the 2nd consecutive day gaining 22bp to close at $101.19 while the stock market enjoyed its first 3-day rally since Jan. 26-28. The day's news drove both markets higher for different reasons. For bonds, mixed economic news and a successful $11 billion auction in re-opened 30-year Treasury bonds led the way higher. Retail Sales initially weighed on bond prices following a stronger than expected reading of -0.1% in February vs. a consensus estimate for a -0.4% drop. Also, January's Retail Sales were revised to a higher 1.8% gain from an initially reported gain of 1.0%. After factoring out the effect of declining auto sales, Retail Sales had a gain of 0.7% vs. a forecast of 0.2% for February. However, weekly Jobless Claims allowed bonds to recover after showing continuing weakness in the labor market with an increase of 9,000 claims to 654,000. The four-week moving average for those claims increased by 6,750 to 650,000, the highest average in 27 years. Continuing jobless claims jumped by 193,000 to 5.32 million claims with the four-week moving average for these claims climbing by 124,250 to 5.14 million, both record high levels. The $11 billion 30-year auction exceeded expectations with a solid 2.40 bid to cover ratio and a better 46.2% level of foreign buying. In addition to the positive Retail Sales data, the catalyst for stocks was a less than feared cut in GE's credit rating by Standard & Poor's. GE's credit rating was taken down a peg due to problems with GE Financial but investors had feared a worse cut. Hearings before the House Financial Services subcommittee on mark-to-market accounting also lent support to stocks. Congressional leaders threatened to take corrective action if the SEC and Financial Accounting Standards Board (FASB) doesn't get off of their derrieres and enact more flexible accounting guidance. FASB Chairman Robert Herz told committee members that FASB could offer 'guidance in three weeks.' The Dow advanced 239 points to close at 7,169 while the broader S&P 500 Index reclaimed 29 points to end at 750. The NASDAQ Composite Index added 54 points to finish at 1,426.

4:26 PM ET - The NY Fed purchases $27B in MBS from Mar 5 through Mar 11 bringing the total to $217B since the program began.

4:02 PM ET - Don't look now but a three day rally in Stocks are in the books. The Dow is up 237 points at the close. S&P 500 at 750 up nearly 30 points led by surging shares of GE and the financial sector.

3:47 PM ET - Crude ends at $47.03/barrel up $4.70.

I need to hire Residential and Commercial Title Insurance Marketing Representatives. Commissions paid are 20-30% of the Premiums Earned

I am in the need for Residential and Commercial Title Insurance Marketing Representatives in MD, DC, DE, FL, IL, IN, MI, MN, ME, NH, CO, GA, MO, MS, NJ, OH, PA, RI, TN, VA, NY, VT and CT. The commission pay is 20-30% of the title premium earned. We have full and modern technologies to assist you in finding, maintaining, tracking and servicing your clients. This may be the perfect opportunity for anyone that has direct or indirect access to relationships that can generate title insurance for either residential or commercial title insurance needs. We offer full processing, support and accounting of all files at every step of the progress of the order. We close anytime and anywhere. We offer title service needs for all 50 states, but are looking for Marketing Representatives only for the states that are listed. Please contact me directly for a completely confidential conversation and/or interview.

Larry Bailey

609-760-7222 Phone

609-228-6378 Fax

Larryb147@gmail.com

Tue, Feb 17 - 1:52 PM ET
U.S. homebuilder sentiment surprisingly rose in February but were still near all-time lows. The NAHB/Wells Fargo Housing Market Index sqeeked out a 1 point gain to 9 from the record low of 8.

12:26 PM ET - Equity markets still under considerable pressure pushing dollars into the safe haven of the debt markets. The Dow is off 285 points while the 4.5% MBS is higher by 44bp.

9:50 AM ET - MBS trading higher as Stocks near low levels hit back in late November. NY Empire Index plummets to record low of -34.65. Treasuries soaring as investors seek safe haven. Oil falling by $2.50 at $35/barrel as demand wanes.

8:15 AM ET - Global stocks drop on continued fears of a worldwide recession will continue. Stock futures plunging here in the U.S. Treasuries advance the most in a week as investors seek safe havens. Oil falls to $36.61/barrel down 88 cents. MBS not yet open.

All I hear about these days are different title companies offering leads. Leads seem to be everywhere all of a sudden. Public records, triggers, exclusive, live transfer, Internet, valuation, etc. The list of leads that is available is long, so why are there so many loan officers, real estate agents and title representatives hurting for business???? It's easy. It's one word.

CONVERSION

What if I could help you take your next 100 leads (that you may have paid 25 cents to 25 dollars) and find 3 more loans in there? How much is that worth to you? What would you do to make an extra $6,000 to $12,000 this month?

I do not have anything other than a proven rate of contact and conversion that I would like to share with you.

I work for Assembly Title, LLC in Hainesport NJ. I would love to show you what I am talking about. After a 5 minute conversation and a few answers, we can decide if a meeting is the next step. Here are a couple of the questions that I usually cover:

1. What is the name of your Lead Management System?

2. What is your current conversion ratio?

3. What is your system of incubating all of the leads that you receive?

I do not sell anything (for those that may think so), but I do enjoy building and helping people, as part of the relationship process.

If you are not converting 10% of your leads that you receive, or if you are looking to have a serious conversation with a Title Company that will actually help you FIND business, not just TAKE orders, let me know.

Very Truly,

Larry Bailey

609-760-7222 Mobile

Lbailey@AssemblyTitle.com

We are near all of the major cities in Southern New Jersey. We are within miles of the following towns and cities in New Jersey

Aberdeen 
Absecon 
Alexandria 
Allamuchy 
Allendale 
Allenhurst 
Allentown 
Alloway 
Alpha 
Alpine 
Andover 
Andover 
Asbury Park 
Atlantic City 
Atlantic Highlands 
Audubon 
Audubon Park 
Avalon 
Avon-by-the-Sea 
Barnegat 
Barnegat Light 
Barrington 
Bass River 
Bay Head 
Bayonne 
Beach Haven 
Beachwood 
Bedminster 
Belleville 
Bellmawr 
Belmar 
Belvidere 
Bergenfield 
Berkeley 
Berkeley Heights 
Berlin 
Berlin 
Bernards 
Bernardsville 
Bethlehem 
Beverly 
Blairstown 
Bloomfield 
Bloomingdale 
Bloomsbury 
Bogota 
Boonton 
Boonton 
Bordentown 
Bordentown 
Bound Brook 
Bradley Beach 
Branchburg 
Branchville 
Brick 
Bridgeton 
Bridgewater 
Brielle 
Brigantine 
Brooklawn 
Buena 
Buena Vista 
Burlington 
Butler 
Byram 
Caldwell 
Califon 
Camden 
Cape May 
Cape May Point 
Carlstadt 
Carneys Point 
Carteret 
Cedar Grove 
Chatham 
Chatham 
Cherry Hill 
Chesilhurst 
Chester 
Chester 
Chesterfield 
Cinnaminson 
Clark 
Clayton 
Clementon 
Cliffside Park 
Clifton 
Clinton 
Clinton 
Closter 
Collingswood 
Colts Neck 
Commercial 
Corbin City 
Cranbury 
Cranford 
Cresskill 
Deal 
Deerfield 
Delanco 
Delran 
Demarest 
Dennis 
Denville 
Deptford 
Dover 
Downe 
Dumont 
Dunellen 
Eagleswood 
East Amwell 
East Brunswick 
East Greenwich 
East Hanover 
East Newark 
East Orange 
East Rutherford 
East Windsor 
Eastampton 
Eatontown 
Edgewater 
Edgewater Park 
Edison 
Egg Harbor 
Egg Harbor City 
Elizabeth 
Elk 
Elmer 
Elmwood Park 
Elsinboro 
Emerson 
Englewood 
Englewood Cliffs 
Englishtown 
Essex Fells 
Estell Manor 
Evesham 
Ewing 
Fair Haven 
Fair Lawn 
Fairfield 
Fairfield 
Fairview 
Fanwood 
Far Hills 
Farmingdale 
Fieldsboro 
Flemington 
Florence 
Florham Park 
Folsom 
Fort Lee 
Frankford 
Franklin 
Franklin 
Franklin 
Franklin 
Franklin 
Franklin Lakes 
Fredon 
Freehold 
Freehold 
Frelinghuysen 
Frenchtown 
Galloway 
Garfield 
Garwood 
Gibbsboro 
Glassboro 
Glen Gardner 
Glen Ridge Borough 
Glen Rock 
Gloucester 
Gloucester City 
Green 
Green Brook 
Greenwich 
Greenwich 
Greenwich 
Guttenberg 
Hackensack 
Hackettstown 
Haddon 
Haddon Heights 
Haddonfield 
Hainesport 
Haledon 
Hamburg 
Hamilton 
Hamilton 
Hammonton 
Hampton 
Hampton 
Hanover 
Harding 
Hardwick 
Hardyston 
Harmony 
Harrington Park 
Harrison 
Harrison 
Harvey Cedars 
Hasbrouck Heights 
Haworth 
Hawthorne 
Hazlet 
Helmetta 
Hi-Nella 
High Bridge 
Highland Park 
Highlands 
Hightstown 
Hillsborough 
Hillsdale 
Hillside 
Ho-Ho-Kus 
Hoboken 
Holland 
Holmdel 
Hopatcong 
Hope 
Hopewell 
Hopewell 
Hopewell 
Howell 
Independence 
Interlaken 
Irvington 
Island Heights 
Jackson 
Jamesburg 
Jefferson 
Jersey City 
Keansburg 
Kearny 
Kenilworth 
Keyport 
Kingwood 
Kinnelon 
Knowlton 
Lacey 
Lafayette 
Lake Como 
Lakehurst 
Lakewood 
Lambertville 
Laurel Springs 
Lavallette 
Lawnside 
Lawrence 
Lawrence 
Lebanon 
Lebanon 
Leonia 
Liberty 
Lincoln Park 
Linden 
Lindenwold 
Linwood 
Little Egg Harbor 
Little Falls 
Little Ferry 
Little Silver 
Livingston 
Loch Arbour 
Lodi 
Logan 
Long Beach 
Long Branch 
Long Hill 
Longport 
Lopatcong 
Lower 
Lower Alloways Creek 
Lumberton 
Lyndhurst 
Madison 
Magnolia 
Mahwah 
Manalapan 
Manasquan 
Manchester 
Mannington 
Mansfield 
Mansfield 
Mantoloking 
Mantua 
Manville 
Maple Shade 
Maplewood 
Margate City 
Marlboro 
Matawan 
Maurice River 
Maywood 
Medford 
Medford Lakes 
Mendham 
Mendham 
Merchantville 
Metuchen 
Middle 
Middlesex 
Middletown 
Midland Park 
Milford 
Millburn 
Millstone 
Millstone 
Milltown 
Millville 
Mine Hill 
Monmouth Beach 
Monroe 
Monroe 
Montague 
Montclair 
Montgomery 
Montvale 
Montville 
Moonachie 
Moorestown 
Morris 
Morris Plains 
Morristown 
Mount Arlington 
Mount Ephraim 
Mount Holly 
Mount Laurel 
Mount Olive 
Mountain Lakes 
Mountainside 
Mullica 
National Park 
Neptune 
Neptune City 
Netcong 
New Hanover 
New Milford 
New Providence 
Newark 
Newfield 
Newton 
North Arlington 
North Bergen 
North Brunswick 
North Caldwell 
North Haledon 
North Hanover 
North Plainfield 
North Wildwood 
Northfield 
Northvale 
Norwood 
Nutley 
Oakland 
Oaklyn 
Ocean 
Ocean 
Ocean City 
Ocean Gate 
Oceanport 
Ogdensburg 
Old Bridge 
Old Tappan 
Oldmans 
Oradell 
Orange 
Oxford 
Palisades Park 
Palmyra 
Paramus 
Park Ridge 
Parsippany-Troy Hills 
Passaic 
Paterson 
Paulsboro 
Peapack-Gladstone 
Pemberton 
Pemberton 
Pennington 
Penns Grove 
Pennsauken 
Pennsville 
Pequannock 
Perth Amboy 
Phillipsburg 
Pilesgrove 
Pine Beach 
Pine Hill 
Pine Valley 
Piscataway 
Pitman 
Pittsgrove 
Plainfield 
Plainsboro 
Pleasantville 
Plumsted 
Pohatcong 
Point Pleasant 
Point Pleasant Beach 
Pompton Lakes 
Port Republic 
Princeton 
Princeton 
Prospect Park 
Quinton 
Rahway 
Ramsey 
Randolph 
Raritan 
Raritan 
Readington 
Red Bank 
Ridgefield 
Ridgefield Park 
Ridgewood 
Ringwood 
River Edge 
River Vale 
Riverdale 
Riverside 
Riverton 
Robbinsville 
Rochelle Park 
Rockaway 
Rockaway 
Rockleigh 
Rocky Hill 
Roosevelt 
Roseland 
Roselle 
Roselle Park 
Roxbury 
Rumson 
Runnemede 
Rutherford 
Saddle Brook 
Saddle River 
Sandyston 
Sayreville 
Scotch Plains 
Sea Bright 
Sea Girt 
Sea Isle City 
Seaside Heights 
Seaside Park 
Secaucus 
Shamong 
Shiloh 
Ship Bottom 
Shrewsbury 
Shrewsbury 
Somerdale 
Somers Point 
Somerville 
South Amboy 
South Bound Brook 
South Brunswick 
South Hackensack 
South Harrison 
South Orange Village 
South Plainfield 
South River 
South Toms River 
Southampton 
Sparta 
Spotswood 
Spring Lake 
Spring Lake Heights 
Springfield 
Springfield 
Stafford 
Stanhope 
Stillwater 
Stockton 
Stone Harbor 
Stow Creek 
Stratford 
Summit 
Surf City 
Sussex 
Swedesboro 
Tabernacle 
Tavistock 
Teaneck 
Tenafly 
Teterboro 
Tewksbury 
Tinton Falls 
Toms River 
Totowa 
Trenton 
Tuckerton 
Union 
Union 
Union Beach 
Union City 
Upper 
Upper Deerfield 
Upper Freehold 
Upper Pittsgrove 
Upper Saddle River 
Ventnor City 
Vernon 
Verona 
Victory Gardens 
Vineland 
Voorhees 
Waldwick 
Wall 
Wallington 
Walpack 
Wanaque 
Wantage 
Warren 
Watchung 
Waterford 
Wayne 
Weehawken 
Wenonah 
West Amwell 
West Caldwell 
West Cape May 
West Deptford 
West Long Branch 
West Milford 
West Orange 
West Wildwood 
West Windsor 
Westampton 
Westfield 
Westville 
Westwood 
Weymouth 
Wharton 
White 
Wildwood 
Wildwood Crest 
Willingboro 
Winfield 
Winslow 
Wood-Ridge 
Woodbine 
Woodbridge 
Woodbury 
Woodbury Heights 
Woodcliff Lake 
Woodland 
Woodland Park 
Woodlynne 
Woodstown 
Woolwich 
Wrightstown 
Wyckoff

We cover the following counties for business as well:

Warren 
Union 
Sussex 
Somerset 
Salem 
Passaic 
Ocean 
Morris 
Monmouth 
Middlesex 
Mercer 
Hunterdon 
Hudson 
Gloucester 
Essex 
Cumberland 
Cape May 
Camden 
Burlington 
Bergen 
Atlantic

So while I am planning out my strategies for making Assembly Title LLC stand out in the "Brotherhood" of the Title Industry, I am faced with the same questions that I always train my Sales-People on. What makes you different? What are you possibly going to say that is going to make you different than the next Sales-Person?

Is it your charm, your good looks, your "Connections", your leads, your systems???? Or is it supposed to be about something else?

Since 1987, I have been professionally involved in the Banking/Insurance/Finance/Technology/Sales fields. This calculates up to a whopping 8030 days (approximately.) Now as I calculated that up, I started thinking, in 8030 days, what is it that I say that makes me different when someone says, "What do you do for a living?" or "Title Insurance eh? WOW, you guys must be getting killed. How are your doing with that?" The answer has always been clear to me, no matter what my job or position. The answer is:

I am different, because my answer changes depending on who I am speaking to."

How many times do you answer the same question, the same way to different people? What makes you think that there is a "One Answer Fits All" answer? Stop and take the time to do what every successful person does. This would be called LISTENING.

The person asking the question has the power in the conversation. (If you disagree, please stop reading, because you will not understand the rest of this post.) It is the answers that direct the conversation. It is the answers that give the Questioner the ability to find out if there is even an audience. Let me give you an example:

Sales Person "A"

     My company, Assembly Title LLC in Hainesport New Jersey, provides title insurance services to anyone in need for all 50 states. BIG WHOOP. So can so many other companies. But wait, I can give your client the BEST customer experience, and close anywhere ~ anytime. And give free coffee and donuts and gift baskets and pens.....(hopefully you get where I am going.)

Sales Person "B"

     Now what if I told you that in my hands, I hold a Basket of Goods and Services that can accomplish anything that you need to help your business? What if all I needed to hear was what it is you need for your business? Once I LISTEN to what you need, I can help. What if I GUARANTEED that I could help, just tell me what you need and lets talk.

     Which Sales Person would you honestly want to spend time with? A person who drones on about how great they are, or with a person who listens to your concerns and needs. Naturally you are saying, Sales-Person "B", because they LISTENED. The kicker here is that if Sales-Person "B" can not personally come through and deliver insightful, meaningful, and direct information, then there really is no way for a Sales-Person to have that kind of a conversation, or become Sales-Person "B". So how many times does Sales-Person "A" call you and ask you for business, or WORSE, how much business are you giving to Sales-Person "A", because you do not have an alternative?

The GREAT news is that Sales-Person "B" is me, Larry Bailey. The experience in the industries that I have, has given me the best ability to know what questions to ask you, and HAVE the answers to help. Whether you need help with finding better lead sources (Internet and Traditional), better lead management solutions (Technical and Non-Technical), better Originators and Mortgage Companies (I deal with many and know who is closing deals and who is not), or just need to have someone to bounce ideas off of, to make sure that your ideas make sense.

I can help you with your business, whether you are a "one-person" branch, or you have a group of 20 and are finding it impossible to manage things because you don't have someone like me in your staff. It all starts with a conversation. I know that you need someone to help with something, let me know what it is.

You can find out more about me by calling me or viewing any of the sites that I post to. My "resume" of experience and testimonials is on Linkedin. If you don't know what that is or where to find it, here is the link http://www.linkedin.com/in/larrybailey

I look forward to us speaking and more importantly to me LISTENING to what you need help with.

Very Truly,

Larry Bailey

Assembly Title, LLC

1441 Route 38 West, Hainesport, NJ 08036

609-760-7222 Mobile

LBailey@AssemblyTitle.com

Fri, Feb 13 - 4:24 PM ET
Market Wrap: Our benchmark 4.5% FNMA bond struggled with a lower volume holiday trading day and lost 28bp to close at $100.62. Traders didn't have much to focus on other than to watch the progress of the 'Financial Stability Plan' in Congress. The $787 billion bill passed the House by a partisan vote of 246 to 183 just after the bond market closed. No Republicans voted for the massive spending measure and the Senate is expected to vote on the bill this evening. The day's only economic report saw consumer confidence eroding in February with a reading of 56.2 vs. a consensus of 61.5. The expectations index, which predicts the direction of consumer spending six months from now, fell to 49.1 from 57.8 in January, the lowest it has been since 1980. However, the current conditions index, which measures consumer perceptions of their financial situation and whether it is a good time to buy big ticket items like cars, edged higher to 67.1 from 66.5. J.P. Morgan said they would temporarily suspend foreclosures for at least three weeks while Citigroup said it would suspend foreclosures until a Treasury plan is finalized to restructure troubled mortgages. The stock market also had a lackluster day with the Dow losing 82 points to close at 7,850. The broader S&P 500 Index lost 8 points to end at 826 while the NASDAQ Composite Index fell 7 points to close at 1,534.

1:39 PM ET - Oil gushes higher to $38/barrel up $4. MBS trolling near lows of the day. Stocks also trading lower after a profit warning from Lloyds of London hits the financials.

12:00 PM ET - JPMorgan halts new mortgage foreclosures. Will not out new mortgages into foreclosure for 3 weeks. Believes 3 weeks adequate for Treasury to announce a new mortgage modification plan. MBS trade back to flat and will close at 2:00pm ET. Stocks lower and will close normal time today at 4:00pm ET.

10:11 AM ET - Consumer Sentiment slightly lower at 56.2 vs estimates of 60.2. MBS trading near session lows. Stocks near unchanged.

8:40 AM ET - Year-to-date the Fed purchases nearly $115B in MBS as reported yesterday. MBS flat, while Stock Futures slightly lower. Oil at $34.72/barrel up 75 cents.

Fri, Feb 13 - 4:24 PM ET
Market Wrap: Our benchmark 4.5% FNMA bond struggled with a lower volume holiday trading day and lost 28bp to close at $100.62. Traders didn't have much to focus on other than to watch the progress of the 'Financial Stability Plan' in Congress. The $787 billion bill passed the House by a partisan vote of 246 to 183 just after the bond market closed. No Republicans voted for the massive spending measure and the Senate is expected to vote on the bill this evening. The day's only economic report saw consumer confidence eroding in February with a reading of 56.2 vs. a consensus of 61.5. The expectations index, which predicts the direction of consumer spending six months from now, fell to 49.1 from 57.8 in January, the lowest it has been since 1980. However, the current conditions index, which measures consumer perceptions of their financial situation and whether it is a good time to buy big ticket items like cars, edged higher to 67.1 from 66.5. J.P. Morgan said they would temporarily suspend foreclosures for at least three weeks while Citigroup said it would suspend foreclosures until a Treasury plan is finalized to restructure troubled mortgages. The stock market also had a lackluster day with the Dow losing 82 points to close at 7,850. The broader S&P 500 Index lost 8 points to end at 826 while the NASDAQ Composite Index fell 7 points to close at 1,534.

1:39 PM ET - Oil gushes higher to $38/barrel up $4. MBS trolling near lows of the day. Stocks also trading lower after a profit warning from Lloyds of London hits the financials.

12:00 PM ET - JPMorgan halts new mortgage foreclosures. Will not out new mortgages into foreclosure for 3 weeks. Believes 3 weeks adequate for Treasury to announce a new mortgage modification plan. MBS trade back to flat and will close at 2:00pm ET. Stocks lower and will close normal time today at 4:00pm ET.

10:11 AM ET - Consumer Sentiment slightly lower at 56.2 vs estimates of 60.2. MBS trading near session lows. Stocks near unchanged.

8:40 AM ET - Year-to-date the Fed purchases nearly $115B in MBS as reported yesterday. MBS flat, while Stock Futures slightly lower. Oil at $34.72/barrel up 75 cents.