Why are some investors putting restrictions on FHA loans that HUD doesn’t have? If the United States government stands behind (issues) debt, why wouldn’t the rates be very low? Many investors have put more restrictive guidelines in place, and it’s not new to put overlays on guidelines on loans that Fannie or Freddie will buy, [...]

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  This is priceless: Idiot’s Guide to Improving Your Credit Score - Bespoke Investment Group 1) We hope you didn’t charge this book. 2) We hope you didn’t charge the National Enquirer either. ———— Judge halts class action in Countrywide merger - … While stopping the class action claims over the merger, Pfaelzer ruled that [...]

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  REQUIRED READING: Where is the Bottom in Housing? - John Mauldin’s Weekly E-Letter link to John Burns’s Power Point Presentation  link to 72 page T2 Presentation  ———— America’s Coming Garage Sale - TIME.com ———— Paulson Talks Tough - But Treasury secretary’s proposals lack the teeth to police Wall Street. - Liz Moyer -  Forbes [...]

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While walking through the garment district in Manhattan one afternoon, a man was struck by a car while crossing the street. People immediately came to his aid and one lady, while balling up her jacket and placing it under his head, asked, “Are you comfortable?” Shrugging his shoulders, the man replied, “ Eh, I make [...]

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To Our Clients, Colleagues and Friends: · We still like the Washington Mutual 6.875’s of 2011.  They’ve traded down to about 84 for a yield to maturity a bit over 13%. These are great bonds to put in a retirement account. Wamu will (a) be sold to a stronger bank, or (b) will raise new [...]

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fun bogus - Flowchart tool to help bankers cope with crisis - The chart has been designed to help bankers deal with their exposure to the credit crisis (although there is no evidence it really did originate within Société Générale). I hope this brings a smile to your face in the otherwise dour circumstances of [...]

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As I was in the supermarket check-out line last night, staring absent-mindedly at the cover of the April issue of GQ magazine, I was brought back to reality by the clerk giving me my total bill. “Holy smokes!” When did food become so expensive? As it turns out, higher oil prices, bad weather, growing consumer [...]

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good reading - Thriftville and Squanderville Realities -  Our generation’s greatest investor and thinker Warren Buffett came up with these names in an article in Fortune magazine October of 2003. The names depict a scenario in which Warren Buffett foresaw the current crisis we are encountering. -  Capitalinvestor1836 Blog ———— Is Mortgage Rate Behavior Back [...]

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To Our Clients, Colleagues and Friends:   · A few weeks ago we quoted Ronald Reagan on taxes.  One attentive reader sent us these lines from the John Lennon song called The Taxman:  “If you drive a car, I’ll tax the street; If you try to sit, I’ll tax your seat; If you get too cold, [...]

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Many prognosticators (who are different than procrastinators) feel that money managers created the current turmoil by failing to take risk seriously, allowing borrowers with lower credit to borrow money nearly as cheaply as A-paper borrowers. And they feel that it is not the taxpayer’s duty to bail them out. If your 16-yr old recklessly loses [...]

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