Newt Gingrich Says We Don't Need A Banking Bailout! - 09/30/08 11:32 AM
I just posted an article on "mark-to-market" accounting which everyone from Newt Gingrich to Steve Forbes is saying was the real underlying cause of the current banking, mortgage, and credit crisis...called
Mark To Market Defined As The Cause of Banking Crisis
It's an intersting theory and I'l take any suggestions to freeing up the credit markets short of giving the Treasury Secretary $700 Billion!  Click the link above to get a quick tutorial on mark-to market accounting.
Bye for now!
 
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Rescue Plan Will Pass Today - Why Do We Need It? - 09/29/08 12:43 PM
I just posted a mortgage article on the Paulson bailout plan - now called the Emergency Economic Stabilization Act of 2008 with a link to download the bill from my server since the government server is down right now...plus a link to the CBO review of the plan...you can read and download everything at...
New $700 Billion Bailout: Emergency Economic Stabilization Act of 2008
With only a few minutes on voting left...it's neck and neck...who knows if it will pass on the first vote?
 
 
 
 
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Citigroup Buys Wachovia - Saves Another Bank Failure - 09/29/08 08:44 AM
I just posted the report from the FDIC on Citigroups bid to buy Wachovia Bank, a banking conglomerate so big at one time it was ranked fourth largest in the country...read the post here..
Wachovia Bank Failure Thwarted On Citigroup Buyout News
This coming on the heels of last week's news  of Washington Mutual's buyout by JP Mortgage Chase...which you can read more about here.. FDIC WaMu Takeover & JP Morgan Chase Buyout Premature ...is making me more and more paranoid.
Are we all going to wake up one day and have 3 or 4 choices for banks and mortgages? 
God … (0 comments)

Sacrificing Home Equity For Monthly Cash-flow - Bad Idea! - 09/25/08 05:30 PM
I just finished a post called...
Debt Consolidation Mortgage Pitfalls
where I extol the sad propensity for consumers to get hoodwinked by mortgage advertisers who pitch short term solutions to the detriment of longer term best interests.
 
 
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Bush Address Tonight Is More Like The Boy Who Cried Wolf! - 09/24/08 09:47 PM
I just finished watching the Presidents address on the financial "crisis" ...the systemic juggernaut of a tsunami of destruction headed our way ...in just a matter of days...if we don't do something right now...blah blah blah..
This sound so much like the rhetoric leading up the Iraq War...and more recently the take over of Fannie Mae and Freddie Mac...gotta get that legislation passed so Paulson can stem the infection of the GSE's and save us all....yea right.
To see more click over to my mortgage article called ...
Bush Speech: Creating A Phantom Crisis To Dupe Congress - Again!
Wow ...these … (1 comments)

Senator Dodd Is Grand Standing Again! - 09/23/08 12:29 PM
I just finished an article on the ridiculous behavior of the Senate Banking Committee today, with it's Chairman, Senator Dodd leading the way.  Bernanke and Paulson attended a hearing in front of the Committee to discuss getting another multi-billion dollar bailout.
You can read all about it on my mortgage blog post called...
Senate Banking Committee Balks At Bailout
They don't really "balk"...it's more like a head fake...
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What Is a "TED Spread" and Why Is It Skyrocketing? - 09/17/08 11:50 AM
I just posted an article on the skyrocketing "TED spread" which is an indicator for traders and bankers to track the risk involved in lending to commercial banks, called...
Ballooning TED Spread Caused By Subprime Mortgage Risk
In the piece I discuss the importance, the underlying causes, and how the real estate market is playing a roll in a skyrocketing TED spread.  It is no surprise to anyone lending to a commercial bank in this market is going to require more incentive than normal...but this high TED spread can cause less liquidity for banks, which in turn can trigger more bank … (0 comments)

Today's Bankrupty Candidate: Insurance Giant, AIG - 09/16/08 07:05 AM
I just posted a mortgage article and video speculating today could be the day AIG fails due to a downgrade in their credit rating yesterday which hampered their ability to garner the capital they need to stay alive...
AIG Bankruptcy Next Due To Falling Credit Rating & Mortgage Crisis
AIG is more important to the US and World economies than the brokerage firms like Lehman, so many are saying AIG is "too big to fail" but the derivative losses causing the AIG liquidity crisis have no ceiling so...click over and read and watch the video clip too...
UPDATE: 11pm Fed Steps In … (3 comments)

Mortgage Rates Set To Drop As Investors Flee Stock Market - 09/15/08 05:34 PM
I just posted an article on today's drop in the stock market and how it will impact mortgage rates, refinancing, and home buying activity moving forward called...
Better Mortgage Rates More Refinancing Result Of Today's Stock Market Slide
I recap today's volatile "flight to quality" and give a prelude to the Fed meeting coming up.  Reported today was the sentiment on Wall Street that the Fed will lower rates and that belief was held so widely on Friday.
 
 
 
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Another Black Monday In Store for Today? - 09/15/08 07:25 AM
I just posted a mortgage article where I outline the "Six Reasons Today Will Not Be a Black Monday Revisited" due to all the bad news over the weekend about Lehman Bros and Merrill Lynch, etc. called...
 
The Fed jumped in knowing after they didn't get the Treasury to back a Lehman buyout, bankruptcy was the only option left, and that could trigger a panic in the stock market.  They took quikc action passing some rule changes and built a 10 bank funded emergency treasure chest for ailing banks.
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Bank of America Gobbles Up Merrill Lynch - 09/15/08 02:04 AM
I just posted an article on these supposed "bailouts" being more unregulated takeovers which are going to impact customer choice and competition in the future....called
Merrill Lynch Becomes The Latest Victim of Fed Bank Cannibalism
I don't know about you, but I'd like to have more than a hand full of companies to choose from when to comes to get a mortgage, or a checking account, or investing my hard earned money.  It seems the mega-banks have another idea in mind.
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Another Investment Firm Is Almost Dead - No Bailout This Time! - 09/15/08 01:10 AM
I just finished a post on the Lehman Brothers demise called...
Lehman Brothers Bankruptcy Likely After Buyers Shunned By Feds
This time around the Fed or the Treasury didn't want to take on the mortgage exposure or maybe the deal was just not as sweet as the Bear Stearns deal a few months back.  Either way, it looks bad for Lehman...
 
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JPMorgan Coveting Washington Mutual Bank's Assets - 09/12/08 03:18 PM
I just posted a mortgage article on the shake up of Washington Mutual with their recent troubles bringing suitors out of the woodwork, called...
American Banker Reports JPMorgan Eyes WaMu Assets
Everyone is thinking WaMu is as weak as IndyMac with is untrue...and therefore needs a government bailout...wrong.  WaMu has a branch banking network the envy of the banking world and JPMorgan has coveted that network since they tried to buy it back in April.
 
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Warren Buffet Backs Out Of Depositor Insurance - 09/10/08 02:21 PM
I just finished a post on my mortgage called...
Kansas Bankers Surety Exits Bank Deposit Insurance Market
where I talk about Warren Buffet, undoubtedly one of the best connected financial guru's out there, exiting the bank deposit insurance business.  If anyone is in a position to "know something" about the health of our financial institutions, it's him.  So I watch his moves like a hawk...and report them to you!
 
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Mortgage Rates Falling On Takeover News - 09/08/08 03:53 PM
I just finished a post on mortgage rates falling due the government take over of Fannie and Freddie called...
Current Mortgage Rates Dropping Due To GSE Takeover
I explain the market mechanism which ties rates to risk and the now "express" backing of the US government for GSE debt, makes investor around the globe feel like they are investing in debt instrument as solid as a Treasury Bond...hence the rate/yield of mortgage debt will trade right along with Treasuries from here on...hopefully...haha.
 
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GSE Stock Holder Not The Only One Hurt By Government Takeover - 09/08/08 11:48 AM
I just finished a mortgage article on the plunging stock prices of the GSEs on the first trading day after the announcement the government would takeover Fannie Mae and Freddie Mac.  It's pretty ugly, but predictable...and anyone dumb enough to still have their money in either deserves what they get.
But how about the US tax payer..does he deserve this horrible treatment?  Read...
Fannie Mae Stock Holders Not The Only Ones To Suffer
Bob Barr and others are coming out today to point the light on the burden this will put on tax payers.
 
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11th Bank Failure of the Year - 09/06/08 06:56 AM
I just posted an article on our mortgage site on the 11th bank failure of the year - Silver State Bank of Nevada.  You can read it here
Silver State Bank Failure - Assets Go To Nevada State Bank
The side to the story I didn't write about is one of Sen. McCain's sons recently resigned from the bank's board...it's not central to the story since the kid only came into the bank as a part of a merger with the bank he ran in Arizona, Choice Bank...so any bad loans Silver State did that got them in trouble came before he was there....but … (2 comments)

Fannie Mae and Freddie Mac - The End Is Near! - 09/06/08 05:53 AM
I just finished a post on the government taking over Fannie and Freddie by Sunday.  The announcement is to be made before the Asian markets begin trading...so the latest is Sunday night.  The post is called...
Fannie Mae and Freddie Mac - The End Is Here!
I have written extensively on the two GSEs and the financial troubles, the reason behind the Housing and Economic Recovery Bill of 2008 pushed through Congress this summer, and this was all leading the government bailout of Fannie and Freddie.  So now they've done it.
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Unemployment Numbers a Danger To Mortgage and Housing Sector - 09/05/08 03:29 PM
The headlines today will report on the base unemployment rate increasing to 6.1 percent, 5 year high, but neglect to mention the more important "long-term unemployment" numbers.  It is these numbers that could pound the real estate and mortgage sectors most.  Read my entire article called...
Unemployment Rate Threatens Mortgage And Housing Markets
Looking behind the headlines and digging deeper into the government reports is a chore, but worth it when you find something truly shocking that no one else is reporting...go take a look at the long-term data for yourself...you'll be glad you did.
 
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Mortgage Application Borrower Anxiety - 09/04/08 11:43 AM
I just posted a post on our mortgage blog about borrower anxiety and how to over come it...called
Mortgage Applications Anxiety
I outline the difference in the weekly increase between refinance or purchase applications which by the way is heavily skewed toward more purchase applications...big surprise right?
Click over and take 30 seconds to see the raw data...hey I'm looking for any "good news" to report...and this is a bit of good news..
 
 
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Seventh Largest Mortgage Lending Cutting Workforce in Half - 09/03/08 01:11 PM
I just posted an article on my mortgage advice website about ResCap Financial owned by GMAC annoucing today they'll be closing all retail branches and laying off 60% of their workforce called...
GMAC ResCap - Closing Mortgage Offices and Slashing Jobs
ResCap is also the owner of Ditech Mortgage famous for their cable TV ad campaigns which I reviewed if you'd like to read that...but be sure to see for yourself the virtually collapse of one of countries largest mortgage providers...
 
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Is Alt-A Lender Riding The Comeback Trail? - 09/02/08 04:38 PM
Impac Mortgage Holdings, an old buyer of Alt-A mortgages, that also operated under the name Impac Lending Group is seeing it's stock price at 52-week highs seeking many to speculate this big player in Alt-A lending is on a "comeback"...
I beg to differ....and you can read about it on my mortgage website....a review article called...
Impac Mortgage Holdings Inc Review
I can't imagine why anyone would buy their stock right now...but it take all kinds...
 
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FHA Denials Do Not Change With New Lender - 09/02/08 12:52 PM
Since the explosion in FHA lending after the subprime mortgage meltdown, there is a new erroneous belief floating around that re-submitting a denied FHA a loan to a second or a third lender will eventually end with an approved loan.
Nothing could be further from the truth.  Read my article outlining why called...
FHA Connection - Clearinghouse for Government Mortgage Information
FHA stores all denials in the FHA Connection system...so every denials from previous lenders/underwriters are there to be seen by all subsequent lenders. 
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TheMortgageInsider.net, Rob K. Blake

Denver, CO

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