gresham: The Mortgage Du Jour of the last Few Years Slams the Stock Market!
- 07/25/07 08:42 AM
Don't be fooled - Despite their CEO's insistence that it's the housing market that caused his companies 33% drop in earnings and the stock market's subsequent 200 point tumble on the news, most experts believe it's the make up of the portfolio of the largest mortgage banker that is the real ticking time bomb(I can't tell you who the lender is, but their name start's with C and ends in wide). Their CEO has sold over $300,000,000, yes that 300 million dollars of stock in the last year. Of course, he claims it's just an asset allocation move for his personal finance, but it appears … (6 comments)
gresham: Why Interest Rates Change Daily
- 06/12/07 10:59 AM
As you shop for a home loan, responsible lenders should tell you that interest rates change daily, and sometimes multiple times in a day! What's behind this phenomenon? The basic answer is that mortgages are bought and sold as investments every day. In fact you probably own some of a few mortgage right now! How, you ask? Mortgage's are sold into large pools of mortgages and then turned into Mortgage Backed Securities or MBS's. MBS's are bought and sold on financial markets just like stocks and bonds. In fact, MBS's are a favorite investment of retirement accounts and life insurance companies. The price of MBS's are what directly … (1 comments)
gresham: Interest Rates - When is the Best Time to Lock?
- 06/12/07 06:01 AM
When it comes to mortgage loans and interst rates, it's never a good idea to gamble. That's why I typically advise my clients to lock in an interest rate at the earliest opportunity. This is just one step of the standardized system we have put in place to ensure the best possible loan experience for each borrower tht we work with. A mortgage loan cannot be closed without a locked-in rate, and there are three main elements to take into condieration: Interest RatePoints or FeesLength of LockLocking in a rate does not obligate the borrower to commit to the loan until the loan … (7 comments)
Don't be fooled - Despite their CEO's insistence that it's the housing market that caused his companies 33% drop in earnings and the stock market's subsequent 200 point tumble on the news, most experts believe it's the make up of the portfolio of the largest mortgage banker that is the real ticking time bomb(I can't tell you who the lender is, but their name start's with C and ends in wide). Their CEO has sold over $300,000,000, yes that 300 million dollars of stock in the last year. Of course, he claims it's just an asset allocation move for his personal finance, but it appears … (6 comments)
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