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From Bloomberg, <a href="http://www.bloomberg.com/apps/news?pid=20601087&sid=apCiBvKN8DTU">http://www.bloomberg.com/apps/news?pid=20601087&sid=apCiBvKN8DTU</a> Frankly, it's a good start. It will cause significant price pressure and that's not a bad thing. My .02c Soylent...

I'm thinking the stock run up is a fools rush/headfake and the smart money is flowing into fixed income investments. Bill Gross is putting his cash into MBS's and Treasuries. CNBC / Kramer listening zombies are trying to play the NYSE Casino, not realizing that the odds favor the house. My...

....if there is some measure of bottoming in house prices, a leveling consumer confidence (+/- 3%), and a stronger stock market (up from March lows) why are mortgage rates re-approaching the panic lows of February? Most 30 fixed rates have hit 4.6% for reasonable fees. Why? What are...

$417k to $729k High Cost Area Jumbo Conforming rates are usually .125% off of sub $417k rates. Anything over $729k is relatively higher. My company has a terrible 30 fixed over $729k. BofA right now has been very, very strong on their over $729k jumbo 30 fixed. Thats what happens when you get a...

The same time these OO loans were made, Stated Stated really took off. You could at one time AT WELLS (the tightest bank around today) do a stated stated 95% loan if you structured things favorably to fool their AU system. OO failures are a fart in a hurricane. Wait until the SS loans -...

From The Big Picture, via Moody's http://www.ritholtz.com/blog/2009/09/when-will-real-estate-recover-its-losses/ "Paul cites other data (not on the map) that according to Moody?s, California, Arizona and Florida won?t fully recover until (brace yourselves) early 2030" My .02c...

Still an issue putting pictures in, but I'm sure I'll get the hang of it somehow

I don't recall the source off hand, but it was "official" and it was about 3-5% of all originations today are for ARM products. My .02c Soylent Green Is People

Awgee - The post assumed that the lender had some level of ethics and experience. That's a pretty big assumption I'm sure you'd agree with! I'm a firm believer of informed choice. It's best to present all options in their best and worse case scenario so that the borrower can make a...

I recommend ARM loans where appropriate. ARM loans in today's environment are a reasonable risk choice for some. Sub $417k ARM's are at 3.75% (Conforming, 1.0 point or so...) with a 2% cap per year. Assuming worse case scenario 3.75, 5.75, 7.75 the average rate over 7 years is 4.6% - lower...

Sit back with a tall icy glassfull as you click below... <a href="http://www.positiveonrealestate.com/">http://www.positiveonrealestate.com/</a> Ohhh Yeahhhh! I don't often drink sugary drinks, but when I do I only drink Kool-Aid. Stay thirsty my friend, Soylent Green...

This is a cut/paste from another board I often post on. It's food for thought if your a buyer or representing buyers. The $8k Federal FTHB tax credit is set to expire November 30th. I believe it will be extended, but that's for another discussion later. The County of Orange has it's own...

Each company has their own conforming loan overlays that either expand or contract guidelines. Automated Underwriting can be fooled into giving a false positive at 65% DTI in some cases, but our company for example has a 52% max DTI limit. I can get 49/49 DTI approved given very strong...

Many thanks to all for your high compliments. As to Garrison's question, Agency Jumbo Conforming has a posted 45% DTI limit. That can be 22/45 or 45/45. Automated Underwriting allows for higher DTI and most of those pesky human underwriters bow to whatever the automated underwriting...

Anyone happen to notice that it's 4 weeks since this post started? Where's the heck? Soylent Green Is People.

1) Seek out a core group of service providers who survived the last downturn. 2) Do exactly what they tell you to do. My .02c Soylent Green Is People.

2007 Vintage were still "top shelf Kool-Aid". You could still get 95% financing, stated stated, and IO loans. Those loans were made when the roller coaster was beginning to downward velocity from the 2006 top. I call these buyers "the unawares". 2008 Vintage are economic distress, walk...

Stated income loans no longer exist. "Lifestyle audits" were performed during the Clinton administration (if I recall) then stopped because of the lack of prosecutorial success. This won't end well for any party involved. My .02c Soylent Green Is People.

Some thoughts on the above.... 1) Everything has an explaination. If you lost your home because of documented job loss or death in the family, you get a great deal of sympathy. If you lose your home because you've decided to not put any more cash into the pot, your sympathy from banks and...

Every time I hear about the "sub prime" problem I rolll my eyes. This has never been a sub-prime probem. Its a piece, but not a significant one. We got to where we are today by shiatty Realtors (first), their co-conspirator lenders (second), and the minion of accomplices - appraisers and...