Jay Beckingham's (jayb) Blog

Mortgage and Lending - Bank of England Mortgage - 385907



Fortune magazine (online) headline by author Colin Barr."Big Check for Countrywide Exec."Before I even began reading the article the following thought immediately popped into my mind:WHY?B of A will pay CW's #2 man, President David Sambol, $28 million in cash and stock if he sticks around for 3 y...
Open to CNNMoney today and at the top of the page you will see (at this time 12:40) the following Bold Headline;Home Prices Down Record 11%Clink on this and open, and you will find the following:Home prices post another record declineThe residential real estate market continues to deteriorate in ...
Okay, so to start off with, we have your good olde conventional loans, well not exactly. I'm in Southwest Florida, so we have reduced LTV's, with more restrictive guidelines. PMI doesn't like us much, and is resistent to insure our loans, if they'll insure them at all. FNMA & FHLMC have gone to t...
This past week I received three different contacts from "subprime" lenders looking for new business. I told the national sales manager of the first company that called that I didn't know what a subprime loan is. He stated that they were looking for FHA near misses. But unless he has a different i...
James Cooper has written an article in Business Week entitled, " It sure looks like a recession." The media loves this word, RECESSION! It's one of the words which can strike fear in an individual, so let's use it as often as possible. It's great for sales!Once again, a recession by definition is...
Finally, it's out in the open. In a CNNMoney.com article this morning entitled "Why the Fed can't put out the fire," David Wyss, Standard & Poor's chief economist let's the cat out of the bag.In regards to the Fed's actions he says, "It doesn't adress the fundamenatl problems, which is that the f...
I waited a few days after reading a CNNMoney.com article entitled "Bernanke outlines mortgage help plan-Fed chief says central bank "strongly committed to easing mortgage crisis," to see if it still struck me as being so odd that the Fed wanted to venture into the world of "mortgage underwriting....
From a historical perspective Stated/No income verification loans have been around forever. However, we may have not called them that. For you newbees you may not remember the good old "loan committes" at your local bank. Back in those days we did something called portfolio loans.So what is a "po...
So says CNNMoney.com this morning. They then go on to reference a Fortune magazine article entitled, "How a lender bailout hurts the economy." There's a couple real interesting points mentioned.The most obvious is that excess $$$'s at low cost can help fuel inflation. Comparing this to the risk o...
News Flash!From the local rag, also known as THe News Press."Cape sees signs of hope on the home front. Pending sales went up dramatically in February."Alllllllright!Quickly, does this mean we've hit the bottom? No, it doesn't mean that at all and it doesn't mean that we haven't. I still don't kn...

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