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Today's Fresh Blogs...| Aegis Mortgage Goes BK |
| Published: August 6, 2007, 1:42 pm |
| Tags: News, Financing, Mortgage, Aegis, Barclays, Bonds, Lending, Mbs, Mortgages, Sub Prime, Subprime |
| I just received an email from one of our parent company’s execs stating that Aegis Mortgage will be ceasing operations. Another email I received shortly after from another lender stated that they have filed for BK. I cannot find any news right now on their website or on Google News, but I am confident that no matter how they do it, they |
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| Bye Bye Option ARMs |
| Published: August 2, 2007, 5:49 pm |
| Tags: News, Financing, Mortgage, Alt, Lending, Loans, Mortgages, Sub Prime |
| Well, the hits just keep on coming. If you are planning on getting a pay option ARM loan anytime soon, you better hurry or make sure you have 750+ credit, 6+ months of reserves (of the fully amortized payment), a good salary, and no debt. Otherwise, you can pretty much forget about it. Wall Street investors for MBS (Mortgage Backed Securities) |
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| Sub-Prime Shakeout Part II |
| Published: July 31, 2007, 12:23 am |
| Tags: News, Financing, Interest Rates, Mortgage, Home Loan, Mortgage, Sub Prime, Subprime |
| Let’s just start naming these Sub-Prime mortgage related posts with the same naming convention, ok? I am pretty confident there will be more than two on this here blog. So, let’s get down to the nitty gritty shall we? A few weeks ago, we saw home mortgage interest rates jump anywhere from a half to three-quarters of a percentage |
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| Mortgage Market Update 6/27/07 |
| Published: June 27, 2007, 12:28 pm |
| Tags: News, Financing, Interest Rates, Mortgage, Bear Stearns, Loan, Mortgage, Sub Prime, Subprime |
| The yield on the 10 year note has steadily moved down this week as is trading under 5.1% this morning. This does not have any direct effect on mortgage interest rates, but it typically has acted as a good indicator. Hopefully, we will see lenders adjust their mortgage lending rates down on similar term products. The Securities and Exchange |
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| Bond Market Update - 6/26/07 |
| Published: June 26, 2007, 12:29 pm |
| Tags: News, Financing, Interest Rates, Mortgage, Bonds, Economics, Economy, Mortgage Rates |
| Bonds are trading flat this morning, even as two pieces of economic data were reported weaker than expected. First, the Conference Board’s index of consumer confidence fell to 103.9 from 108.5 in May, and the Commerce Department reported new home sales fell 1.6% in May. We have seen stronger than expected new home sales recently and weak |
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| Existing Home Sales Rate Falls Again |
| Published: June 25, 2007, 12:23 pm |
| Tags: News, Financing, Mortgage, Economics, Economy, Housing, Real Estate |
| The National Association of Realtors reported sales of previously owned homes fell 0.3% in May to the lowest in almost four years. In addition to slowing sales the supply of unsold homes jumped 5%, representing supply that will last 8.9 months at the current sales rate, the highest in almost 15 years. If you are not yet depressed, the report |
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| Inflation in Check…for Today |
| Published: May 3, 2007, 12:49 pm |
| Tags: News, Financing, Mortgage, Lending, Loans, Mortgage, Sub Prime |
| I get a great market update from SCME bank every morning that gives me about a 5 sentence update on major market events and reports and how they affect interest rates on mortgage loans. At this point, there is a lot of uncertainty in the markets due to a number of factors. First, we have oil prices that are sky high compared to what we are |
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| Interest Only vs. Fully Amortized Loans |
| Published: April 29, 2007, 3:22 pm |
| Tags: Financing, Mortgage, Amortization, Interest Only, Investing, Iras, Real Estate Loans, Retirement |
| For the record, I have never really bought into supply-side economics or been anything but a relatively big advocate for conservatism when it comes to leverage and home ownership. But, after quite a bit of reading and more thought, I am coming to the conclusion that the fully amortized loan is nothing more than a brilliant sales pitch by the |
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| Flash in the Pan Lenders |
| Published: August 9, 2007, 1:38 pm |
| Tags: News, Financing, Mortgage, Finance, Lender, Loan, Mortgage, News |
| It seems I get new emails every day from lenders that are either 1) offering what everyone else is no longer offering or 2) telling me that they no longer offer entire lines of product. I received emails from a local lender about a month or so ago and they were much more aggressive in a certain are than other shops. The last few days I have |
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| First Magnus is Next |
| Published: August 16, 2007, 1:04 pm |
| Tags: News, Financing, Mortgage, Closing Doors, Credit, Economy, First Magnus, Lender, Sub Prime |
| Looks like First Magnus Financial Corp. will be next to close up shop. An article in a local Arizona newspaper confirms the rumors I heard this morning and that is that First Magnus has stopped funding loans. Another victim of the credit crunch that should continue. Related: Content Tags:BK Closing Doors Credit Economy First Magnus lender |
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| First National Bank of Arizona Wholesale Operations Cease |
| Published: August 21, 2007, 5:08 pm |
| Tags: News, Financing, Mortgage, Closing, Credit Crunch, Economy, First National Bank Of Arizona, Fnba, Mortgage |
| Just received this via email: Due to continued uncertain market conditions, effective as of 1 pm EDT (10am PDT) today, August 21, 2007, 1st National Bank of Arizona (FNBA) will focus on Retail originations and has suspended Wholesale and Correspondent originations. Wholesale and Correspondent locks received prior to 1 pm EDT (10am PDT) today, |
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| BofA Buys $2B of Countrywide’s Preferred Stock |
| Published: August 23, 2007, 3:46 pm |
| Tags: News, Financing, Mortgage, Banking, Bofa, Chris Dodd, Countrywide, Discount Rate, Fed, Fed Funds Rate, Fomc |
| Well, I can smell blood in the water, and apparently B of A could as well. Yesterday’s late announcement that B of A would pick up $2B of Countrywide’s preferred stock (that means that if Countrywide goes under, preferred stock holders have access to assets) and the deal funded today. Good pick up for BofA as Countrywide is the |
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| Sources: Wells Fargo to Eliminate 100% Financing |
| Published: August 27, 2007, 4:47 pm |
| Tags: Mortgage News Insight, 100 Financing, 80 20 Loans, Wells Fargo |
| will continue to do 100% financing in one situation only: they will lend an 80% first with a 20% seller carry-back second for fully documented borrowers only. Other than that 100% financing is imminently is danger of extinction at Wells Fargo. It is clearly the right move, as regardless of credit scores, properties continue to decline in |
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| YouTube sells, real estate agent says |
| Published: December 17, 2006, 4:36 am |
| Tags: Technorati, Real Estate, Sell, Private Mortage, Strategies To Sell Your Home, How To, Podcast, Owner Financing, Sell Your Home |
| POSTING A WALKING TOUR OF CLIENT'S HOME ON FREE VIDEO SITE LEADS TO SALEBy Barbara E. HernandezThis article referenced can be found at Mercury News.So this real estate agent takes her digital camera. Not video camera but a digital camera that takes small clips. She takes little clips of the inside of her clients house and puts it up on You Tube. |
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