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September 15, 2008

Southern California Mortgage Lending Rates Drop

Analysis of: Mortgage market improves with new market-leading deals | www.timesonline.co.uk
This analysis is solely the work of the author. It has not been edited or endorsed by GLG.
Analysis By:
Mark Mariotti, CEOMark Mariotti
CEO, Future Management Holdings Inc
Implications: Effective immediately after the Fannie/Freddie take over, the DITECH origination service of Cerberus' GMAC Financial Services launched a television campaign to offer 5.5% interest rate mortgage loans.

Analysis: Understandably, the underwriting has become much tighter as well as the appraisals... however the aggressive marketing of prudent lending should be commended by GMAC.

GMAC Financial Services has a distinct presents in Southern California with their commercial television advertising. Further, GMAC Financial Services owns several other non-origination operations in Southern California and is a progressive employer of mortgage professionals in Southern California.

Other Analyses of the Same Source Article:
Does The Worst Seem to Be Over for the UK Credit Crunch?
September 8, 2008, Author: GLG Expert Contributor

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