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"The Big Picture"
I just finished reading The Big Short, Inside the Doomsday Machine, by Michael Lewis. It’s anintriguing story about how the whole subprimemortgage crisis developed, and who some of theplayers were who actually could see ahead tothe ugly crash. Michael Lewis is also the author of The Blind Side,on which the movie that earned Sandra Bullockan [...]
Continue Reading →As we close out 2009, it gives me an opportunityto look back and also make some acknowledgements. This last year put us further along a path that begana few years back. There is no debate that there were lots of abuses inthe mortgage business. Originators took advantageof borrowers. Borrowers blindly followed withoutquestioning where they were [...]
Continue Reading →As the ripples continue to extend from the “mortgagemeltdown”, lenders, investors, rating agencies andlegislators are all trying to come up with solutionsso that this does not happen again. The lenders, investors and rating agencies have allbecome more conservative as a response to the badpolicies and judgments that had crept into theirsystems. These market forces are [...]
Continue Reading →In a survey conducted with mortgage borrowers, there werefour factors that were determined as the most important. In order of importance, they were: 1. Communication2. Integrity3. A Smooth and Complete Process4. Competitive Products and Rates Let’s take a look at each of these and how they fittogether to help you have the best possible experiencein [...]
Continue Reading →Whenever the Fed lowers interest rates, there is always a lot of anticipation, publicity and reaction in the markets. Most consumers think that the drop by the Fed means that mortgage rates will be lower. There is not a direct cause and effect relationship between these two. Here are some of the reasons: The Federal [...]
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