Mr. Joseph Chatham

GLG News by Mr. Joseph Chatham, President

Lower Rates, While Great, Do Little For Jumbo Lending

October 1, 2009

Analysis of:Real Estate Outlook: Mortgage Rate Dip Impacts Housing | realtytimes.com

The Realty Times article reflects the positive effects of lower interest rates on mortgage originations and home purchases, but fails to note the failure of said rates to transcend the conforming/conventional markets into the jumbo markets. The implications of this failure are that many homeowners in the higher cost states (CA, NY, MA, etc.) still cannot get competitive financing; thus, driving home prices down further.

It is all in the "W"

September 28, 2009

Analysis of:KB Home Loss Narrows on Fewer Write-Downs | online.wsj.com

KB, a lower cost builder, is benefitting from the perception that we have hit the bottom. We have not. Thus, the peak of the inside of the "W" is about to wane.

Round II: Coming to a neighborhood near you

September 25, 2009

Analysis of:"Option" mortgages to explode, officials warn | www.linkedin.com

While a very general description of the Pay Option ARM disaster that is looming, the Reuters article is dead-on in two conclusions: many more homes will be hitting the market over the course of the next two and one-half years and that the mortgage plague that started with the subprime crisis will be moving from the lower income strata to the middle and higher income areas.

Deutsche Bank Recognizes the Depth and Width of "A" Paper Crisis to Come

August 21, 2009

Analysis of:Deutsche Bank on those drowning US homeowners | ftalphaville.ft.com

The depth of the "Alt A" mortgage crisis is coming home to roost. We are likely to see the depreciate creep (or flood as the case may be) is going to hit the areas that the subprime loans barely touched.

I hate to say I told you so, but.....

August 11, 2009

Analysis of:About Half Of U.S. Mortgages Seen Underwater By 2011 | www.reuters.com

We have a perfect storm brewing in the housing real estate market. All facts point to a furthur drop in values.

Article should be titled: "Fed Moves To Curb Lending Further"

July 24, 2009

Analysis of:Fed moves to curb housing abuses | money.cnn.com

Limiting Compensation on "sub-prime" loans will kill the industry as well as stifle lending even further.

Home Prices: This slide is but a taste of things to come

June 4, 2009

Analysis of:Home prices slide 14% | money.cnn.com

Although steep declines in home values are enticing new homebuyers, the overall affordability indices are troublesome.  Existing "A" paper laon portfolios suggest trouble ahead. Further declines are not only coming, they should be welcome.

Bush, Bernanke, BandAids & Bloodletting

September 7, 2007

Analysis of:Bush, Bernanke Pledge To Stabilize Mortgage Meltdown | www.consumeraffairs.com

*Recent Bush proposals ease anxiety more than solve issues. *Some parts of proposals may worsen the foreclosure markets. *FHA is overdue reform, despite markets. *Bloodletting is necessary.

At this point, who cares about Q2!?

September 5, 2007

Analysis of:U.S. Housing Market Conditions | www.huduser.org

The HUD report means little at this point.  We need to be looking forward.

Pay Option ARM's: A Ticking Time-bomb?

May 4, 2007

Analysis of:The Risk in Subprime | money.cnn.com

-There may be huge risk with Option ARM lenders
-Markets are vulnerable to bad Option ARM loans
-Option ARM's may be able to outlast real estate slump 

Loss Mitigation Efforts are Key to Foreclosure "Soft Landing"

April 2, 2007

Analysis of:Subprime Loan Servicers Step Up Loss Mitigation Efforts to Avoid Foreclosures | www2.standardandpoors.com

The Standard and Poors' article is the only article that I have seen that points out that there is, indeed, hope for the subprime forelosure world.

Loss Mitigation is a process too few understand and that all involved with the mortgage world should be acquainted with.

Loss Mitigation eforts will definitavely change the face of this "crisis"

Subprime Lending = Egalitarian Oppotunities

March 20, 2007

Analysis of:Some Subprime Woes Linked to Hodgepodge of Regulators | www.usatoday.com

1) Media impact on regulatory agencies
2) Misinformation regarding broker/lender culpability
3) Clarification of subprime benefits
4) The subprime implosion is way overblown

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