Mortgage bond prices are hovering just above their 200-day moving average and are finding resistance to falling lower than that. That means that it will take some sort of push for mortgage rates to rise today.
Into the confessional
I think mortgage people feel guilty of the sins of sloth and pride.
Lenders, Feds Finally Paying Attention to Mortgage Crunch
Looks like people are finally starting to take the mortgage situation seriously, and by people we mean the federal government and major industry players. ‘Bout time! There were several major and minor developments in the subprime arena this week that indicates that the people who can actually do something are now paying attention. Read More Now
Mortgage Rates Generally Ease as Housing Stats Worsen
Frank Nothaft, Freddie Mac vice president and chief economist released a statement saying “Mortgage rates eased slightly this week following three weeks of increases. The initial effects of the credit market turmoil that began in August are starting to emerge in… Read More Now
MBA Proposals For Mortgage Fraud Legislation
…Or, if terms are defined too broadly they could allow prosecution for activities that are not fraudulent at all. S. 1222 is once again cited as faulty for defining “mortgage fraud” to include obtaining money, including fees, under “false” pretenses and then failing to fully define that term. An example provided by the report would be a lender recommending a loan to a borrower… Read More Now
Day of the living dead
I’m attending the Mortgage Bankers Association’s annnual convention in Boston. It’s like a zombie zone here but maybe things will get better.
12 money-saving ways to get ready for the holidays
Don’t wait until 12 days before Christmas to get into the yuletide spirit. With some early holiday planning, you can save money and ease seasonal stress.
Digging out the ol’ conscience
Corporations are searching their attics for those old, rusty social consciences that they set aside when “power ties” became popular lest Congress pass regulations restricting their activities.
Dealing with a product recall
Was something you bought recalled? Would you know and what do you do?
Countrywide CEO Angelo Mozilo Under SEC Spotlight
Reuters News Service and the Associated Press are both quoting a story in the Wall Street Journal on Wednesday that the controversial CEO of Countrywide Mortgage, Angelo Mozilo, is under an informal investigation by the Securities and Exchange Commission (SEC). Countrywide is the largest mortgage company in the country and Mozilo, its founder, is generally credited or blamed for the company’s evolution from a mostly conventional lender into one where subprime products dominated. At issue is the sale by Mozilo of some 130 million of his company’s stock in the first six months of 2007. It seems that there is… Read More Now