Posts from ‘March, 2007’

This story caught me off guard. This must be a per capita study or it must use some kind of normalizing technique. Maybe it’s true. However, to think that Arizona has more crime than New York and California doesn’t make sense!
Yahoo! Finance Story: “Based on annual statistics, Nevada had the highest crime rate among the [...]

It is true that negative news affects buyers. The media hyped up the “bubble” and did a disservice to first time buyers. Negative news certainly affects buyers! It’s a fact. How many of you avoided Jack in the Box after the 1993 meat scandal even though the company had made very deliberate efforts to contain [...]

There is a very insightful chart at the Bankrate.com website regarding interest rate and credit score (I’ve linked to it below - follow the link and scroll down a bit). I bring this up because a past client recently called me to re-finance his second mortgage. When we did his loan last year his [...]

Lets take a look at the real impact of the subprime meltdown. I am even hesitant to call it a meltdown. Media buzzwords always seem to have a “hype” to it that both captures attention and yet doesn’t quite tell the story right. I digress.
This is a purely numerical analysis designed to determine the impact [...]

I don’t know if I agree with Bill Gross (see article below). The Fed’s main goal is to keep inflation below two percent. We’re a bit above two percent right now. We have seen how zealous the Fed can be about this goal. I don’t think a subprime credit squeeze will force their hand and [...]

The Bankrate survey which found that 34% of borrowers had no idea the type of mortgage they were in is getting a lot of play in the press. It should because it is very worrisome in my opinion and mortgage professionals need to give this some serious thought as they adapt to the new climate. [...]

More rules is not the answer. The fundamentals have to be enforced. I fear the government has already made up its mind. The industry has already made severe corrections. Companies have already gone out of business. Those left are making adjustments so they can survive. The market is working. If the government wants to [...]

My take on the subprime meltdown is the whole thing was driven by “greed”. Pure and simple human greed. The US Bond market was flush with cash and investors seeking a higher return. Mortgage companies moved into the subprime market more aggressively to take a bigger piece of the pie. Now could banking regulators have [...]

This is going from bad to worse.
Mortgage lender executive sought for arrest - Mar. 26, 2007: “Connecticut said Monday it is seeking the arrest of former Mortgage Lenders Network USA Inc. President Mitchell Heffernan for failing to pay employees as the subprime lender sank into bankruptcy. “

Nevada tops the list of states with the highest number of total foreclosure filings in February. Florida is second. The others in the top ten (in order) are: California, Texas, Georgia, Michigan, Tennessee, Ohio, Texas, Arizona and Indiana.
Nevada tops states with highest foreclosure rate: “Nevada registered the nation’s highest state foreclosure rate for the [...]