Entries Tagged as 'Rob Chrisman'

Talk from the origination trenches; the "bad loan biz" Doing well; Acceptance of lower coupon securities increasing

August 27th, 2010 · No Comments

talk-from-the-origination-trenches-the-bad-loan-biz-doing-well-acceptance-of-lower-coupon-securities-increasing

 

 
A statistician is someone who is good with numbers but lacks the personality to be an accountant.
What’s wrong with this picture: Rates are unbelievable, yet there are many companies out there who are barely doing any loans. Investors are backlogged and swamped, yet mortgage banking employment numbers are down significantly from only a year or [...]

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Tags: Commentary · Mortgage Market · Rob Chrisman

Refi everyone at 1% lower? Wells & commercial loans; Updates from Citi and others; 4% 30-yr fixed almost here!

August 25th, 2010 · No Comments

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Gee, whenever I have too much to drink in Utah and find myself around a mortgage company’s computer server, I feel like opening fire. I guess I’m not alone. http://www.sltrib.com/sltrib/home/50159264-76/campbell-computer-police-server.html.csp
Jefferies, and other Wall Street firm’s analysts, have recently pointed out that the effective rate of interest on all US mortgage debt outstanding (about $11 trillion [...]

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Tags: Commentary · Mortgage Market · Rob Chrisman

Updates from Chase, Wells, SunTrust, BofA; Florida rules on underwriter status; DOT versus mortgage primer

August 24th, 2010 · No Comments

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The interesting thing about “mortgage banking” is that it is not a discipline taught in school to youth. It is not like chemistry or psychology, or animal science, etc., that one can major in. It includes aspects of many different things, like finance, sales, marketing, psychology, accounting, and so forth. The skills and knowledge of [...]

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Tags: Commentary · Mortgage Market · Rob Chrisman

News from Flagstar, USB, and several other investors; Fannie’s new MI form; 8 banks closed Friday

August 23rd, 2010 · No Comments

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One aspect of mortgage banking that can sometimes confuse those on the origination side is what investors like, or don’t like, about a lien or mortgage. One basic question is, “Who wants to pay 102 or 104 (a 2 or 4 point premium) for a loan that pays off in 3 months?” It was reported [...]

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Tags: Commentary · Mortgage Market · Rob Chrisman