Guaranty Mortgage

This month’s Frugal Sense winner spends mere pennies to stock up on staples like toothpaste.

The Day Ahead: Durable Goods, New Home Sales, Auctions
Shares in the S&P 500 have fallen for three consecutive days and on Wednesday futures are extending those losses ahead of fresh data and more Q3 earnings. About two hours before the open the S&P looks to open nearly 6 points down, after trimming 3.4 points yesterday. While investors wait for the durable goods report, which is expected to advance in September, sentiment will remain skittish as investors open up the Wall Street Journal to learn that GM s financing arm, GMAC, is seeking more taxpayer aid. …(read more)

The Week Ahead: Treasury Auctions, Housing Data, Durable Goods, GDP
Eight trading days have passed since the Dow crossed 10,000 for the first time in over a year. Yet mixed data and third-quarter earnings since then have caused equities to dance around the psychological threshold. On Friday the Dow closed at 9,972; heading into the week futures are pointing slightly upwards. Wall Street is looking for Q3 GDP to climb 3% in Thursday s release. If that s the case the markets could gain enough momentum to stop the dance and remain steady in five-digits. However, consumer sentiment, flat wages, and weak spending could all bring stocks down. And that s not even mentioning the perennial concerns of the jobs market……(read more)

Freddie and Fannie: Marginal Adjustments Made to Rates Last Week
Mortgage rates for the last week have remained relatively unchanged according to information released by Freddie Mac from its weekly Primary Mortgage Market Survey and Fannie Mae's report on average yields….(read more)

Credit card rewards help foil recession
Choosing the right credit card rewards program can help a smart borrower get through the recession.

Reverse Lender Facing Loss of FHA Approval
The U.S. Department of Housing and Urban Development announced that its Mortgagee Review Board is proposing to permanently withdraw HUD and FHA approval for Financial Mortgage USA Inc. In addition, the housing agency said it plans to slap the company with a $97,500 civil money penalty. HUD claims the lender failed to meet FHA quality control requirements, didn’t provide reverse mortgage prospects with adequate disclosures and confused borrowers by promoting annuities alongside its reverse programs.

The Day Ahead: Markets Flat Ahead of Income Data
Upbeat earnings and the +3.5% GDP report helped US stocks jump around 2% yesterday, though the gains weren t enough to wipe out losses from earlier in the week. The market is still down 2.9% from its annual high on October 19. This morning Dow Futures are looking down 32.00 points at 9871.00, still a ways off from the 10k mark, and the S&P 500 looks to open 4.00 points lower at 1057.50. Meanwhile, the Treasury yesterday completed its record $123 billion issuance of government-backed securities. Despite the growing deficit, each auction was heavily oversubscribed, drawing in a total of $372.4 billion in bids, more than three times the offered amount, said the Wall Street Journal. The US$ index is flat this morning following heavy losses yesterday as equities rallied. WTI crude oil is down 0.4% to $79.55, and spot gold is off $2 to $1045….(read more)

Fed MBS Purchases Still Slowing. No Effect on Values Yet
The Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). In the five trading days between October 22 and October 28, the Federal Reserve purchased a total of $21.906 billion agency MBS. In those five days the Federal Reserve sold $3.906 million agency MBS (dollar rolls) with the majority of roll transactions in FN 5.0s and FN 4.5s. After sales, the Fed's weekly net purchases totaled $18.00 billion. …(read more)

Congress Passes Resolution to Extend Higher GSE Loan Limits through 2010
The resolution would extend the present conventional loan limits for Fannie and Freddie through the 2010 calendar year at 125 percent of local median home sales prices, up to a maximum of $729,750 in high-cost areas. The floor for FHA is $271,050; the floor for Fannie Mae and Freddie Mac conforming loan limits is $417,000. The resolution now goes to President Obama, and he is expected to sign it today or Saturday to avoid a government shutdown….(read more)

5 keys to automatic retirement plans
If you’re saving for retirement, know these five things about automatic enrollment 401(k) plans.

Don’t buy something now and expect the big end of year bonus to pay off your credit card. It won’t happen.If you have developed bad credit habits, cut up your credit cards, or only keep one for emergencies and resolve [...] Invest in paying down your debts. The Proper Use Of Credit Cards Credits cards are a convenience, not a crutch.Credit cards are a great way to make purchases and record to the penny your spending. Home equity loans are used as credit cards to live a lifestyle that is beyond people’s means.
Mesa Real Estate listings

Information is deemed reliable but not guaranteed.

In response to my blog post from last week, “Theodicy and mortgages,” Michael Hilmen writes about artificially high home prices.

‘Official’ owner wants cash for a clunker
This owner may be out of the money. You must be the car’s owner for a least a year to get the cash.

Wrong-headed regulators
I have an article up today — “Want to refinance? Know the details” — in which I describe the Home Affordable Refinance program as confusing.

The Day Ahead: Equities Flat Ahead of Housing Data, Bernanke
Equity futures are flat to slightly lower this morning after shares in the S&P 500 jumped 1.06% yesterday. Today markets will received fresh data for the housing market and look for headlines coming from Ben Bernanke and Co. speaking at day three of the Boston Fed s conference in Cape Cod. The US dollar is slightly firmer this morning, December oil futures are up 10 cents to $81.29 a barrel, and spot gold futures are up slightly at $1,062.10 per ounce….(read more)

Equity futures are flat to slightly lower this morning after shares in the S&P 500 jumped 1.06% yesterday. Today markets will received fresh data for the housing market and look for headlines coming from Ben Bernanke and Co. speaking at day three of the Boston Fed s conference in Cape Cod. The US dollar is slightly firmer this morning, December oil futures are up 10 cents to $81.29 a barrel, and spot gold futures are up slightly at $1,062.10 per ounce….(read more)

‘Official’ owner wants cash for a clunker
This owner may be out of the money. You must be the car’s owner for a least a year to get the cash.

Wrong-headed regulators
I have an article up today — “Want to refinance? Know the details” — in which I describe the Home Affordable Refinance program as confusing.

Home equity can be used to buy car
Home equity products can be used to fund a car purchase. But there are risks for the homeowner.

Watch for ‘cash for clunkers’ scams
Don’t give out personal data to a middleman, and make sure a dealer isn’t sneaking in unwanted fees.

Existing Homes Sales Benefit from Tax Credit. Perspective on Road Ahead
Existing-home sales jumped 9.4 percent to an annual rate of 5.57 million units in September from a level of 5.10 million in August, and are 9.2 percent higher than the 5.10 million-unit pace in September 2008. Overall, today's release indicated continued progress in the stabilization of the housing market. However we are troubled by the forward looking statements Yun made regarding the variables that must continue to improve if housing it to undergo further stabilization and recovery….(read more)

Advantage Systems predicts net branch acquisitions will increase. The company provides accounting and contract management tools for the mortgage industry. “As the mortgage lending industry changes and adapts to this new market, we have seen a clear shift towards acquiring net branches as a way for lenders to expand,” Advantage’s president said in the statement.

If you are a funding officer or mortgage broker, purchasing mortgage leads from some mortgage lead company, it is crucial that you get the desired and best possible return on your investment. If you are a beginner and new into generating mortgage leads, it should be clearly understood that a mortgage lead company only provides you with mortgage leads. [...] Same principal applies if you are trying to generate Internet mortgage leads ??” i.e. Finding Mortgage Leads and Internet Mortgage Leads It is a complicated procedure. trying to generate mortgage leads online.
Homes in Torrance

Information is deemed reliable but not guaranteed.

This owner may be out of the money. You must be the car’s owner for a least a year to get the cash.

Equity markets in the US have been falling for two consecutive days. Ahead of several data reports, speeches from Federal Reserve officials, and a deluge of earnings, a third day of sell-offs is looking probable as global markets are bleeding red across the board. Shares in China and Japan fell 0.62% and 0.64%, respectively, on Thursday, after news that China s economy posted a slightly-lower-than-expected 8.9% annual growth rate in Q3. Stocks in Europe are worse with London s FTSE 100 down 1.11% recently and France s CAC-40 down 1.50%….(read more)

Aussie Mortgage Brokers Up in Arms Over Big Four
Australian mortgage brokers claim that a shift to volume-based accreditation is compromising their independence. Under the new system, a minimum number of loan submissions and approvals are required in order to maintain approval with a given wholesale lender. Finance broker Maria Rigoni, co-founder of the Australian Institute of Professional Brokers, told MortgageDaily.com that Australia’s ‘big four’ banks are placing brokers in an untenable position.

Fed’s Beige Book: ‘Stabilization at Depressed Levels’
The Beige Book is a summary of economic conditions around the country. About a month before the upcoming FOMC meeting, each of the 12 regional Federal Reserve conducts interviews with local businesses, economists, banks, and researchers about their assessment of economic and business conditions in their respective region. The findings are then published in the Beige Book. The results are used by the FOMC when deliberates over monetary policy decisions, thus the findings of the Beige Book can help forecast the direction short term interest rates may head in the near future. …(read more)

FHA Policy Updates
The U.S. Department of Housing and Urban Development unveiled changes to the HOPE for Homeowners Program in a mortgagee letter. Another mortgagee letter reminded servicers that FHA sub-servicers must be approved by the agency as a mortgagee. Quicken Loans issued a news release urging prospective borrowers to act now on FHA streamline refinance applications before stiffer FHA requirements take effect on Nov. 17. Making high-cost FHA loan limits permanent is “crucial” to the U.S. housing recovery, the National Association of Realtors reportedly told Congress.

Treasury, HUD Announce Program to Aid HFAs
The Departments of Treasury and HUD announced a new two-prong program to keep Housing Finance Agencies in the lending business. One part of the program will support the issuance of new bonds, the second will help the agencies meet current obligations….(read more)

Foreclosures? Let ‘em rent
In response to my blog post from last week, “Theodicy and mortgages,” Michael Hilmen writes about artificially high home prices.

Mortgage mods for profit
Mortgage rates have held fairly steady since the middle of last week.

Mortgage rates have held fairly steady since the middle of last week.

Foreclosures? Let ‘em rent
In response to my blog post from last week, “Theodicy and mortgages,” Michael Hilmen writes about artificially high home prices.

The Week Ahead: Busy Week for Housing, Earnings
Last Week saw equities hit 12-month highs across the globe, including in Australia, Hong Kong, India, Russia, Europe, England, Brazil and of course the US. The Dow hit the 10,000 mark mid-week but closed under that psychological threshold on Friday. The S&P 500 gained 1.5% overall, pushing the gains since early March to an astonishing 59.4%. Meantime, WTI crude oil has jumped 120% from its February low of $34 per barrel. A 2009 peak was hit last week as it rose 9.4% $78.53. Never mind 2009 highs, Spot Gold hit an all-time high at $1,070.40 per ounce last Wednesday, though on Sunday night it had fallen to $1049.95. …(read more)

Rate trends and firecrackers
A reader named Cindy asks: “Are mortgage rates predicted to go down next week? What things should I be considering before going ahead?”

WIN THIS AMAZING MURRIETA BEAUTY See preview dates and times at www.experthomeauction.com Expert Home Auctions International Mary Ellen Wilson 3944 Murphy Canyon Rd. #C103 San Diego, CA 92123 Office: 858-752-6060 Cell: 619-261-6459 Fax: 760-888-0401 Email Me Visit My Website Property For Sale MLS#: I09106470/090055988 $150,000 Single Family Home 4 Bed 2.5 Bath Parking: 3 Car 3613 Sq. Ft. Built 2004 Commission: 31630 Serrento Drive Murrieta, CA 92563 (click for map) Virtual Tour Local MLS Pre-foreclosure Auction PRE-FORECLOSURE AUCTION…..THIS IS YOUR OPPORTUNITY TO WIN THIS GREAT HOME IN Murrieta. Kitchen has granite counter tops, black appliances accent the mocha-maple kitchen cabinets. THIS HOME IS DELICIOUS! A big island for entertaining or big family meals, surround sound wiring will make you relax or have fun, master bedroom has a retreat for your private moments.
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Real Estate For Sale by Owner