posted by Bill Coppedge  READ THIS - Fannie Mae New Rules for Appraisals -  This is a very big deal - It appears that Fannie Mae has finished or nearly finished its review, and is about to ruin several very large aggregators’ and thousands of pissant brokers’ day with a new set of rules regarding [...]

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To make it into the ranks of the top 40 servicers, according to Inside Mortgage Finance, a company needed $20 billion of servicing on their books. Countrywide and Wells each have about $1.5 trillion (Bank of America has about $520 billion). These servicers will continue to face a high volume of ARM resets through most [...]

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posted by Richard Bitner It’s not official yet, but it looks like New York Attorney General Andrew Cuomo may be close to taking the first, in what will hopefully be a series of much needed steps, to fix the systemic issues plaguing the appraisal industry. Ever since he announced that the state of New York [...]

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“He offered to get a loan to cover for the value of the house and to get a second loan which it will include all my debts through a company that it is willing to invest. He said I will need to establish a corporation so I will need to pay him $5,000 so he [...]

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Frozen Grand Central - This should cheer you up  - thanks Susan Kulakoswki for sharing this - Youtube  ———— LIBOR Reverse Mortgage Margins Disappearing? -  John Yedinak - Reverse Mortgage Daily ———— The New Market for $700,000 Houses - Felix Salmon -  portfolio.com ———— OFHEO:  WIDESPREAD HOUSE PRICE DECLINES IN FOURTH QUARTER -  Pockets of [...]

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Last night I was reading about OFHEO’s housing report while my son was trying to figure out how he was going to spend $5 million (the amount that was promised to him by his new internet friend, who is a Nigerian prince looking to move $50 million into this country through someone’s bank account, and [...]

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To Our Clients, Colleagues and Friends:    · How’s the job search going?  Not well?  Look, we just saw that the FDIC has about 4,600 employees today, down from 15,000 in 1992 when banks were failing left and right.  Well, they’re running ads looking for people, obviously or presumably because they fear that a new wave [...]

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  Existing Home Sales “Slipped” 23.4% - Existing-Homes sales “slipped” some in January, according to the National Association of Realtors (NAR). The problem, the Realtors point out, is simply that some potential buyers are waiting on sidelines. … Talk about an understatement. The “slippage” the NAR refers to was a 23.4% year-over-year freefall. -  The [...]

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posted by Bill Coppedge The Muddle Through Fed - John Mauldin’s Weekly E-Letter ———— from MIAC’s blog - Subprime Crisis - Round II? - many worthwhile articles  -  Dynamic Execution: A Breakthrough in Pipeline Risk Management -  Valuation of Mortgage Servicing Rights (MSR) in your Loan Commitment Pipeline. -  Nonprime Market in Distress -  MSR [...]

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“A rising tide lifts all boats.” So goes the old adage, which applies to many segments of the economy, including mortgage bankers. Generally speaking, companies saw applications and locks ramping up in January and early February. Now, unfortunately, locks appear to be down, while extensions and renegotiations are consuming locks desks around the country. Loan [...]

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