ARCHIVED BLOG POSTS
2007
2
Comments
As some of you are now aware, my company's parent, First Magnus, went out of business last week. A group of top mortgage professionals and myself have been in the process of considering opening our own branch for quite awhile, but sometimes the best things in life are initiated from a bit of a nu...
08/29/2007
I have given this seminar to several of my realtor's offices and I would be happy to do the same in yours. The credit markets are in crisis, and the mortgage landscape is changing fast. But, ask yourself this…Do you understand the key factors that led to the crisis? Can you clearly and confidentl...
08/14/2007
Few mortgages are actually held by the bank or the company that funds them. Over the past ten to fifteen years, investors on Wall Street have increased their appetite for higher yield products. With this appetite grew a desire for riskier loans that companies package and sell in pools known as m...
08/12/2007
Less than two years after opening its gold-plated doors, Donald Trump has pulled the plug on his "white glove service" loan company in the Big Apple. Reports indicate the firm was plagued by shoddy timing, a sinking market and allegedly sketchy claims made behind closed doors. I thought this w...
08/08/2007
HomeBanc Corp. Announces Intention to Exit the Mortgage Loan Origination BusinessTuesday August 7, 8:30 am ET ATLANTA, Aug. 7 /PRNewswire-FirstCall/ -- HomeBanc Corp. ("HomeBanc" or "the Company") today announced that it intends to exit the mortgage loan origination business. The Company at prese...
08/07/2007
To our valued customers,Because of extreme changes in the markets and rapid decline in conditions in the secondarymortgage and national real estate markets, Aegis has been forced to suspend taking applicationsfor new mortgage loans from its broker customers and has ceased the funding process for ...
08/06/2007
4
Comments
Last week we saw American Home Mortgage go out of business. I saw major lenders like Wells Fargo, National City, Greenpoint and others cancel half their product line. Jumbo rates went from 6.75% to 8% in a two day period when the bond market actually improved!! That is a phenomenon that I have ne...
08/05/2007
Rainmaker
118,963
118,963
Stephen Katz
Branch Manager, CMPS