Effective Immediately – No Refi’s For Borrowers with Modified Loans
1/5/09 – EFFECTIVE IMMEDIATELY - Modified Loans are Ineligible For Fannie/Freddie Refi’s, while FHA MAY Be Eligible. I have not verified this with the GSE’s personally. I have second-hand verification...
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Mr. Mortgage: Dec CA Foreclosure Report – Defaults up 100%
December CA Mortgage Defaults Up 100% month-over-month, nearly reach record high It’s that time again…the monthly foreclosure reports will soon come pouring out and confuse everyone. Later this week,...
View ArticleThe End of Large-Bank Wholesale Lending – Time For the Mortgage Banker
The End of Large Bank Wholesale Lending – A Resurgence of Middle Market Mortgage Banking – Chase…a Leading Indicator This week, Chase shut down wholesale mortgage lending while keeping retail and...
View ArticleCiti to Follow Chase out of Wholesale – The ‘Rest’ Are Next
1-23-09 Story Update – while Citi was the headline of this piece, this report was more about the demise of large bank wholesale lending showing how Chase and others are leaving or significantly scaling...
View ArticleUrgent – Information Needed
I am moving – until my new site is up, I will only be send research via email. Please look to the right, enter your email address in the box and ’subscribe’. NOTE – that the responder sends back a...
View ArticleCiti Wholesale Update 1-23
1-23-09 Story Update – while Citi was the headline my alert on Thursday ( link below), the report was more about the demise of large bank wholesale lending showing how Chase and others are leaving or...
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Mortgage Rates Soar – Fed Better Buy More
Rates have shot up considerably in the past week and a half from roughly 5% at 1 point to 5.5%-5.625% at 1 point to the borrower. This was despite the Fed in the market buying $19 billion in Agency MBS...
View ArticleMr Mortgage Reports to be Delivered by Email
I am moving – until my new site is up, I will only be send research via email. As always I provide this information at no charge. SUBSCRIBE: Please look to the right, enter your email address in the...
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CA Housing Market -Beneath the Headlines / REO Surge to Hit
Beneath the Headlines — the Housing Market is Languishing The chart below shows a CA housing market languishing with ‘organic’ sales (pink) at an all-time low. This, while loan defaults (yellow) – a...
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Farewell Post – House Sales & Mortgage Loan Default/Foreclosure Round-Up
**PLEASE NOTE – I AM MOVING as of today…I will be delivering reports via email for a couple of weeks until the new site is up. Please ’subscribe’ for email delivery of content so I have your address....
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