Entries from November 2007

Bill Coppedge: MortgageNews - Clips for Monday November 27

November 24th, 2007 · No Comments

. Big Changes Coming to MortgageNewsClips Soon - Stay Tuned . . AIG Changes, Hole at Northern Rock, 2009, Loans R Us, Scapegoats? . . AIG Changes MI Eligibility Rules; Will Exclude Majority of Subprime Borrowers - housingwire ———— £53 Billion Hole In Northern Rock - An investigation into Northern Rock shows £53bn of mortgages [...]

[Read more →]

Tags: Mortgage Market

The Garrett, Watts Report - (November 24, 2007)

November 23rd, 2007 · No Comments

To Our Clients, Colleagues and Friends: ·          Are you setting aside reserves in case you have to re-purchase loans? Washington Mutual, as one example, has about 14 bps set aside for this, and while it’s hard to know the right amount, at least they have something.  What about you?  The only justification for not setting [...]

[Read more →]

Tags: Mortgage Market

Joe Garrett: The Garrett, Watts Report (Thanksgiving, 2007)

November 21st, 2007 · No Comments

. MortgageNewsClips welcomes Joe Garrett as a contributor!. To Our Clients, Colleagues and Friends: . ·          GMAC isn’t a public company but they file with the SEC for their bonds because most of them are publicly traded.  And while reading through these filings can be deadly, you do find interesting nuggets. At September 30, GMAC [...]

[Read more →]

Tags: Mortgage Market

Rob Chrisman: Wednesday mortgages: my whole 401k is in Freddie stock, now what?

November 21st, 2007 · No Comments

. . Douglas Adams, author of The Hitchhiker’s Guide to the Galaxy, wrote, “Human beings, who are almost unique in having the ability to learn from the experience of others, are also remarkable for their apparent disinclination to do so.” Mortgage banking needs to prove him wrong, but for right now, everyone is practicing their [...]

[Read more →]

Tags: Mortgage Market

Bill Coppedge: MortgageNewsClips - Wednesday, November 21

November 21st, 2007 · No Comments

    Happy Thanksgiving!! . . GSE’s 3, Portland vs. Seattle, SIVs, Countrywide, NovaStar . . 1. About Freddie Mac’s Problems - OFHEO’s Part in the Housing Crisis - According to Felix Salmon, OFHEO is making the housing crisis worse - Portfolio.com   2. Freddie Mac: Pay No Attention To The LIA Loans Behind the Curtain - … [...]

[Read more →]

Tags: Mortgage Market

Rob Chrisman: 11/20 mortgages: a picture is worth a thousand words, and with the 10-yr at 4.07 what does it mean?

November 20th, 2007 · No Comments

. . Many agents, and others in the industry, ask about re-setting ARM loans. Hopefully you can see this graph below, showing ARM resets. If you can’t, they climb from here through next year, and then drop dramatically. Now, if only a) the properties haven’t gone down in value, and b) the borrower has kept [...]

[Read more →]

Tags: Mortgage Market

Tom Millon: The Week Ahead in the Capital Markets - Nov. 19, 2007

November 19th, 2007 · No Comments

  MortgageNewsClips welcomes Tom Millon as a contributor!   AN INSIDER’S VIEW FROM THE CAPITAL MARKETS COOPERATIVE TRADING DESK: “Mandatory sales have been very strong relative to best efforts.  The reason:  mortgages are once again trading with ‘zero duration’ and hedge costs are low.  When Treasury yields drop, the market thinks more rate volatility is [...]

[Read more →]

Tags: Mortgage Market

Bill Coppedge: Mortgage NewsClips for Monday November 17

November 17th, 2007 · No Comments

          Cartoons, 5 Favorites, Other Stuff   CARTOONS: 1. A Fall Housing Picture - from Barry Ritholz - The Big Picture  2. ANOTHER HOUSING CARTOON -  My 5 Favorites:   Wow! G-Fees Up a Lot - What’s a GSE Guarantee Worth? - The short answer: a whole lot more than it used to be. [...]

[Read more →]

Tags: Mortgage Market

Rob Chrisman: Friday mortgages: big WAMU changes, improving mortgage prices, and lesson 5 of 5 on MI

November 16th, 2007 · No Comments

(Thanks to Rob for this 5 part series - BC) . . Yesterday I passed a conference room and someone was saying, “This project is so important we can’t let things that are more important interfere with it.”  Where do things stand on the future tax-deductibility of MI? This is the latest news story: . [...]

[Read more →]

Tags: Mortgage Market

Rob Chrisman: Thursday 15th mortgage droning: Lesson 4 of 5 on MI, mortgage applications picking up

November 15th, 2007 · No Comments

The other day I heard a manager (not at NL Inc.) say, “Team work is a lot of people doing what I say!”    Many loan agents feel that the coverage amount of MI is a mystery. Remember that it is set by the investor, so if a given lender is working with 15 different [...]

[Read more →]

Tags: Mortgage Market