To say it’s been a crazy few months barely scratches the surface . . . but, as Andy Roach, recently let go when Greenpoint Mortgage shut down, stated in an AP interview -
“The mortgage business isn’t dead — there’s just going to be less people in it.”
Sign up for our free newsletter now for […]
First, allow me to apologize for my lack of posts recently. However, I did want to take a break from my daily grind to share a great resource with you regarding the changing mortgage marketplace.
Here in Mortgage Capital USA (aka Orange County, CA), the Orange County Register has devoted an entire section […]
Just received the following from Novastar, the last email makes a bit more sense now . . .
Loans priced in NovaStarIS and NovaQual will automatically retain their lock status on pricing for 30 days.
As a one time adjustment, loan rates locked prior to Tuesday, March 6th will adjust unless closed by […]
Just got this from Novastar. I’m not thinking the pricing on the day docs are drawn thing is going work . . .
Due to fast moving shifts in the secondary market beyond our control, we can no longer honor pricing approvals in NovaStarIS for an extended period of time.
To avoid pricing adjustments on […]
I just found this site today. Check out the Mortgage Lender Implode-O-Meter. These guys are tracking all the big lenders and monitoring the current industry fall out. It’s definitely a good
read. Be prepared for more rocky roads to come.
Technorati Tags: mortgage industry, mortgage lender implode o […]
Wow, wish I shorted New Century . . . NEW has dropped 63% at the time of this post on news of federal criminal investigation into its practices.
I also received an email from my Fremont Investment rep this morning saying they’re closing their doors as well.
The “easy money” of the past few […]
Ben and the Fab Fed Inflation hunters continued the hikes as expected today with another 1/4 point increase. Full story in USA Today.
Freddie Mac’s numbers are also showing mortgage rates at a 4 year high. Hope you locked your loans last week!
