Barry Habibs comments today on this crazy market

Mortgage and Lending with Charter One Bank


I totally understand that buyers in the secondary market want a higher yield or to pay less for a 6.5% coupon for example. However ( and being an originator for 25 years ) .  I thought if a buyer is locked in , directly with the lender that you are using. This to me means that it was already accepted in a pool.  And the secondary market was responsible to buy it no matter what.  Now maybe I am locking in loans with my direct lender, but they are not locking in the secondary market.  Think I answered my own question.  Any comments would be appreciated. thanks...we will get thru Barry says...the moneys availabe on no docs, no ratios etc.   the yield just has to be higher for the risk.   Tony  ( please comment )

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