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Industry Observer - Paratex
The good, the bad and the ugly of the pest world



A friend of mine, Bob Pessemier, just released a great new book that has relevance for us all.  His book "The Top 5 Money Mistakes People Make...And How To Fix Them" is a short but power packed read.  In it, Bob covers off such topics as credit card debt, budgeting, and yes, all about mortgage lo...
I think the Federal Reserve surprised a lot of us yesterday with the 1/2 point rate cut they chose.  I, for one, thought they might trim the rate by 1/4%.  Obviously, the Federal Reserve is concerned about how the mortgage crisis has affected the overall economy.  And this is a good start.  As we...
Good morning all:  I received a phone call from a borrower the other day as their Adjustable Rate Mortgage (ARM) was set to change later on this year.  Two years ago, they were first time homebuyers so they were able to get 100% financing with a first and a second mortgage.  My, how times have ch...
Good morning:  I was thinking yesterday about how important it is to market ourselves, especially now.  In my office, most of my co-workers sit around making phone calls with often increasingly poorer results.  let's face it.  It's a competitive world out there and you might not make it if you're...
Today, Countrywide Home loans announced they are looking for an additional infusion of cash from investment banks.  This is serious stuff, folks.  A little more than 2 weeks ago, Bank of America invested $2 billion in Countrwide which effectively purchased 16% of Countrywide's stock.  Now, Countr...
I read late today that Countrywide Home Loans will be laying off 12,000 people or up to 20% of its workforce.  Their CEO, Angelo Mozilo, stated he had never encountered market forces such as they are now.  The goal is to switch everything over to their bank.  What this probably means is their und...
Good morning all:  I was thinking on my drive home last night about how ingrained it is in our borrower's mind that they get the lowest rates and fees on their loan.  Granted this isn't a bad thing.  In fact, I often encourage people to call 2 or 3 lenders when shopping for their loan.With this i...
Yesterday, my colleague, Jennifer Graves, and myself appeared on Coach Steve Toth's radio show,  Thanks, Steve, for allowing us the opportunity to appear!  In the show, both Jennifer and I talked about how the Paicific Northwest has so far emerged relatively unscathed f...
I'm back after taking a few days away from Active Rain.  I find this site fascinating and it is my source for the most up-to-date information available on the mortgage market.  But I needed to take a break and found that I didn't feel the need to log on.  It helped that  I got pretty busy with mu...
I was reading this morning that the government estimates that at least 2/3 of the adjustable rate mortgages (ARM's) in this nation set to readjust are exotic loans with low teaser rates.  Further, a lot of these loans are above the FHA limit of $367,000. One statistic I read was even higher; 81% ...

Paul McFadden

Pest Control, Seattle, WA.
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