Home Mortgage Guide

Is it the last day of September already? Wasn’t it just Memorial Day? Things are getting a little tight here around the Chrisman household. Yesterday my son came to me and told me that “management” knew that I had taken a stapler from my home office. “From now on”, he continued, “If you plan on continuing to work here, you’ll have to obtain an updated photo ID, and furnish your own salary.” It must be that econ class he’s taking…
This morning we had our final revision to the 2nd quarter’s GDP number. Folks …
Read Rest of Why are stats revised? VA loan update; Primer on 100% USDA program

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Read Rest of Bits Bucket For September 30, 2009

by Jay Smolik
The real estate industry has experienced significant upheaval in the past 3 years. Housing foreclosure has become a run of the day phrase we hear almost everywhere. However, many homeowners are still unaware of the actual terminology and nuts and bolts of foreclosure.
The process, which his legal, referred to as foreclosure is initiated by your mortgage company and will involve an end to the previous legal agreement between you and your lender for the property under foreclosure. In this situation, the mortgage company takes full ownership of the property back and is free to do as they …
Read Rest of Practical Advice to Stop Foreclosure

thought provoking – Video on the Dollar, G-20, and Gold from CNBC -  Jim Sinclair’s Mineset
  ————Written in 1953 and just as true today – Gold vs Paper -  by Ludwig von Mises – on fiat money and inflation – Mises Daily
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Securitization Group Launches Code to Track Loans – By DIANA GOLOBAY  – The American Securitization Forum (ASF), a trade body …
Read Rest of Market Related: Dollar Video, ASF Mortgage Code, Japan & US Rates, Oil Volatility

READ THIS – quite interesting – great questions – An Interview With Barney Frank – by Ezra Klein – sample: What’s the most important part of financial regulation? A.  Limiting securitization. I believe the single biggest issue here is that people invented ways to lend money without worrying if they got paid back or not by securitizing the loan. … – Washington Post
As Subprime Lending Crisis Unfolded, Watchdog Fed Didn’t Bother Barking – By …
Read Rest of Government & Politically Connected: Barney Interview, Subprime, Public – Private, Restart MBS, FNMA Underwriting, Acorn – Banks, World Bank on Fed, TBTF = Too Dumb To Pass

As my grandfather used to say, “If you find yourself in a hole, the first thing to do is stop digging.”* Apparently the folks at Sunwest Bank, out of Tustin, CA, felt the same way. Clients received a letter saying, “I regret to inform you that as of October 2, 2009, Sunwest Bank will be suspending its mortgage banking operations. My staff and I will be available through October 2, 2009 to assist you or answer any questions you may have.” (* Unlike my uncle the convicted felon, who always said,  “If you …
Read Rest of FHA chatter; News from MERS, Wells, Flagstar; Home price index not as bad as feared

   
September 29 marked the second day in a row that the Wall Street Journal online has run a story on the covered bonds boom.
The theme of the second article (by Mark Brown of Dow Jones Newswires) is that there are “no signs of a slowdown,” even after last week’s huge Jumbo issuance, which might have been expected to cause a lull. READ MORE>>

http://www.coveredbondinvestor.com/news/credit-suisse-covered-bonds-are-fantastic-source-money-banks-0

Read Rest of Credit Suisse: Covered Bonds are “Fantastic Source of Money for Banks”

by ahansen
What has happened to the markets –or so we’re being told– is a recession; which, they say, has bottomed and is on its way to a slow recovery. But what has happened to We the People—those of us folks out here on the ground where the green shoots are supposed to be — is Depression with a capital D. And I don’t mean the financial one.
As any number of us un and under-employed here on the blog can tell you, being jobless is no picnic—especially when you’re facing a hugely uncertain future and trying to …
Read Rest of Mustering Up Enthusiasm For This Big Adventure

by Mark Bradley
The real estate industry is one of those who are getting benefits in Twitter. One proof is the appearance of Twitter real estate. The number of people being interested in this business is increasing because it is one of the most successful businesses today. You can make sure that you real state business will become successful if you know how to develop a marketing strategy which will promote your business well.
Any kind of business including Twitter real estate needs to be promoted well to catch the attention of your potential clients. Now, marketing is not really a burden …
Read Rest of Using Twitter Cell Phone Strategy For Your Real Estate Marketing

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Read Rest of Bits Bucket For September 29, 2009