Kris Krajecki's (imcallingkris) Blog

Well, another lender tightens thier grip!Looks like FHA is going to HAVE to be the way to go for yout sub-575 FICO borrowers...:-)\Issued: November 26, 2007Effective:Effective with new loan applications taken on or after November 27, 2007SummaryMortgage Insurance (MI) is no longer available for l...

It's STILL getting a bit tougher to get some of those loans done!Just announced this morning...Summary:Homecomings Financial announces changes to Stated Income documentation types and the Payment Option program. These changes will be effective on December 3, 2007.All Programs Stated Income and St...

Well it looks like we lost another one! Normally this is old hat...but we haven't had a major player close it's doors in quite some time now. The other scary thing is that Webster was no sub-prime lender! They were A-paper with some great FNMA rates/products.Here is the e-mail taht I recived...Yo...

I recieved this e-mail this morning and thought that I would share...:-)Dear Valued Business Partner: As you may be aware, federal regulatory agencies have issued joint guidance which impacts the qualifying methodology for non-traditional mortgage products. This guidance was designed to better ad...

Well we should all be in the 5's NOW!!Treasuries surged, sending 10-year note yields below 4 percent for the first time in more than two years!!Bonds rose as U.S. stocks fell and oil rose to within 71 cents of $100 a barrel. The spread, or difference in yield, between two- and 10-year notes widen...

Can Turkey Really Make You Tired?Here's how the story goes. Turkey contains tryptophan...which helps the body produce niacin...which then helps produce serotonin. And serotonin is the key to this theory because it calms the brain and induces sleep.The problem with that theory is that tryptophan a...

Thanksgiving is upon us! This popular autumn holiday traces its roots back to a three-day feast held in 1621 to celebrate the blessing of a bountiful harvest. It took more than 240 years, however, for Thanksgiving to become a national holiday. In 1863, President Abraham Lincoln finally proclaimed...

What little economic news we'll have during this Thanksgiving Holiday shortened week takes place this Tuesday and Wednesday...and the market is scheduled to close early on Wednesday and Friday with a full-day close on Thursday.The most interesting news of note for the coming week will be the late...

The headline in the financial futures market these days says Federal Reserve Chairman Ben S. Bernanke is withholding some vital information: The economy is so bad the central bank will have to lower interest rates at least three-quarters of a percentage point to avoid a recession. Bernanke's two ...

Treasuries rose as a Goldman Sachs Group Inc. analyst said Citigroup Inc. may incur an additional writedown of $4 billion, suggesting that losses related to delinquent subprime mortgages will deepen. U.S., European and Asian equities retreated on increased concern that a slumping housing market w...