Weekly Digest for 2008-10-05

Category: General

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Weekly Digest for 2008-10-05

I think rates are going down…….hang on. # [Libor] Overnight USD LIBOR Makes Biggest Jump on Record (Libor-Based products are moving up.) http://tinyurl.com/475qno # [Global Economy] Global Recession in 2009 to be Followed by Recovery in 2010, TD Report Says http://tinyurl.com/46459t # [RE Market] Double-Digit Decline in New Home Sales Suggests Turnaround is Months Away http://tinyurl.com/3opxgl # [Interest Rates] “Huge Wave of Panic” Hits Money Markets as T-Bill Rates Near Zero http://budurl.com/knba # [Economic Calendar] Construction Spending Falls Flat in August http://budurl.com/gfty # Powered by Twitter Tools.

by jberman
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Weekly Digest for 2008-09-28

[Consumer Education] HomePath http://www.fanniemae.com/homepath/ # [Fed Reserve] Bernanke Clarifies Government’s $700 Billion Proposal http://tinyurl.com/3sgum6 # [Re Bloggers] Mortgage Rates Respond To A Rapidly-Devaluing U.S. Dollar (Dan Green makes it simple.) http://tinyurl.com/52rzrq # New AR Post: Upcoming RE Tech Conferences – http://budurl.com/a5ph # [Dan Green] The Mortgage Reports Blog: Bankrate.com Mortgage Trend Index (September 25, 2008) http://tinyurl.com/4dxsfd # Powered by Twitter Tools.

by jberman
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Update: REBlogWorld – Communication – Barb Van Horn

A good friend recently told me that I needed to embrace a ‘beta’ philosophy and just get the content out there. I see the light. I agree, so welcome to the J. Berman Group {beta}. What is a blog? Well this is a blog. Albeit a rudimentary and basic effort. I like to refer to it as a BlogCast as we are casting our services via this site to you, our customer and our potential customer. What are we doing these days? Aside from keeping up with the barrage of mortgage industry changes, I am speaking to many groups large and small about the power of blogging and working virtually. I believe the real estate and mortgage agents of the future will spend more of their time utilizing the computer for their services. Marketing, workflow management, customer education, and back-end production will all be handled on the computer and on the web. To that end, I am involved in organizing […]

by jberman
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Provident Funding boots some mortgage originator clients

I am happy when lenders proactively stop working with bad mortgage broker clients. One common practice that I find annoying is when an originator doesn’t deliver a loan once it has been locked with a lender. It’s not uncommon to hear that some originators regularly break a lock if rates improve. Oftentimes they do this to pocket additional yield spread and give the customer the same originally promised rate. The problem with this practice is that it costs the lender money every time a mortgage originator doesn’t deliver a promised loan. This cost ultimately gets passed onto everybody else in the form of increased rates. It is nice to see that some lenders are now cutting these originators off from their source of funds and helping the good originators as a result. I applaud the efforts of Provident Funding. Let the originators that manipulate loopholes on a regular basis go work with lenders that will put up with it. The […]

by jberman
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Market Update: Support for GSE’s: Bond Market Rallies

Mortgage bonds are starting the week in rally mode. Treasury Secretary Paulson affirmed to wall street that the government will not allow Fannie Mae and Freddie Mac to fail. Busy economic calendar this week. The Producer, and Consumer Price will be published Tuesday & Wednesday respectively. Any signal of inflation will move rates up. Also on Wednesday, the Fed meeting notes will be released. This can often move rates as the market gets further insight on the Fed’s thinking. Later in the week, the health of the manufacturing sector via the Philly Fed Report is announced. A weak number will be provide further support for mortgage bonds and likely move rates lower.

by jberman
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