It was really an amazing day that saw one of the biggest single day rate drops i have witnessed in a long, long time. At the very end of the day investors issued a change for the worse but regardless, it was a breakthrough day. I am currently hearing two schools of thought regarding the short t
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09/09/2008
As I sit in the office tonight wondering if any other mortgage banker is still working at 5:30 on a Friday night the phone rings. A pleasant lady on the other end says "hello, I am calling for Lewis". I said this was me. She told me she was referred to my company by her good friends but she wen
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09/05/2008
Listen up people ---- I am having a gas problem..... I have been using a local propane company for the last several years. I have always noticed a quarterly propane bill that seemed very high but never paid much attention. Lately, I like most of you, have been scrutinizing all outgoing expens
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09/03/2008
America - Land of Foreign opportunity ? -- A large Korean bank is very close to gobbling up a huge percent of Lehman Brothers. China is dumping Fannie/ Freddie shares in favor of US Treasuries. Oh yes - there is gold in American financial landscapes if you have the bucks to play and foreign
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09/03/2008
Whatever happened to Baseball? In these days of stress and uncertainty it is always a pleasure when you have the opportunity to take your mind off the craziness for a bit. There is a new book out that will bring back memories of your childhood and have you grining from ear to ear. If you played y
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08/28/2008
I think it is inevitable. How rates have been maintaining the level they have been hovering at the past few weeks I have no clue. I guess the mortgage backed securities market is just in a wait and see mode. Fannie and Freddie today reported large profits on recent loans. But it is coming. A rate
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08/27/2008
If you haven't heard yet, Carteret Mortgage announced they are closing their doors. Of all the net branch organizations, this was the one I respected the most. Trust me - I was a net branch for four years. The founder of the company said they simply ran out of money. I believe the net branch m
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08/26/2008
I am now eligible for a new phone from AT & T. Man, I think I have been with them ( Cingular, Cell One etc..) since the time I had a bag phone. I am a cell phone junkie. My wife and three kids all have phones on my plan so I become eligible for an upgrade quite often and take them up on it q
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08/24/2008
The calls are now coming in the office with greater frequency. "Mr. Mortgage guy, I am in an Option Arm and now I owe more than my house is worth". The helplessness in the voices on the phone I hear are sickening. This is a part of the mortgage crisis that wasn't going to happen. You see, thes
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08/23/2008
The financial markets remain in turmoil. Lehman, Merrill, Wachovia chatter regarding solvency for these giants is a strong as ever. National City appears to be on life support. Fannie and Freddie values have plunged and have a lifeline connected to the Federal Reserve. Investors have changed the
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08/19/2008