GLG News by Retail Mortgage Origination Experts

    Feds involvment is way to soon!

Fed shows it is reactive rather than proactive. They waited until investors were stampeding to the exits to react in a desperate manner. Markets have lost some of its confidence with Ben Bernanke and the honeymoon is over. Traders do not feel that he is atuned to the markets as the Maestro (Alan Greenspan)....

Countrywide not trusted by brokers and closes it sub-prime wholesale division. BoA is out of the wholesale business completely. Countrywide has lots of attractive assets. Hmmm!  Firesale!

Sub-prime market gets even tighter.  Fannie Mae Expanded Approval will be come the lowest acceptable credit grade. 

"Unethical Mortgage Brokers" (though not applicable to all Mortgage Brokers) bear some but not all responsibility for the crisis.  Lenders looking for an ever increasing market share and borrowers who either didn't READ the terms of their mortgage note or chose to take a mortgage that they knew...

The fact that there is going to be an increase in subprime losses is a given.  Many companies that invested in securities that are backed by these loans are going to take substantial hits to their balance sheets, because of these assets.  Also, new mortgage backed securities are taking...

Bank of america needs to adopt a more gracious policy when dealing with its customers to insure that it maintains them as future customers.  These people will talk and their potential customers will decrease if they have a hard ball image.

But the superfund SIV that will be funded by the “banks” is bunk, and will be done as follows. 1)The Banks are thin on liquidity 2) The bank CPA and auditors said to them 2 weeks ago, “we are not going to roll over, you need to address these SIV’s, your commercial paper, or I will not sign your annual...

Immigration status is not an indicator of mortgage default. Current conditions are not indicative of a drop in viability of ITIN mortgages.

It is redundant and not very useful research. Same data is readily available with any mortgage amortization software.