MBS AFTERNOON: AFTER HOURS ALERT (KINDA)

re: MBS AFTERNOON: AFTER HOURS ALERT (KINDA)

Bryan/Mortgage Finance Group, Inc. — Fri, 03 Jul 2009 19:24:11 GMT

Just an extension of an existing worthless program.

re: MBS AFTERNOON: AFTER HOURS ALERT (KINDA)

Craig Anderson — Fri, 03 Jul 2009 15:10:27 GMT

It is my understanding that the 125% program will only be available to the current servicer of the loan. It sounds good in theory, but how many people that are in that position don't have a 2nd mortgage behind the first or have MI making it impossible to do the loan. It would be nice if we could figure out a streamline product similar to FHA for a fannie/freddie loan. I think that would benefit a lot of people.

re: MBS AFTERNOON: AFTER HOURS ALERT (KINDA)

Matthew Graham — Thu, 02 Jul 2009 22:10:10 GMT

Good question Onie... Anyone know?

re: MBS AFTERNOON: AFTER HOURS ALERT (KINDA)

JOHO — Thu, 02 Jul 2009 21:23:10 GMT

And wait til you see the pricing adjustments at that %! Nothing like having to charge your borrower 2+ pts just to get to par pricing b/c his house value tanked. The program is becoming a joke. 4-5MM need it and only 13k loans total have closed so far b/c they either have MI, or the Subo got rejected, or the pricing adjustments are too much, or you can't go over 625k over 80% ltv, etc..., etc...etc...

re: MBS AFTERNOON: AFTER HOURS ALERT (KINDA)

Onie Ward — Thu, 02 Jul 2009 21:23:01 GMT

So does this mean rates will go up or down or what?

re: MBS AFTERNOON: AFTER HOURS ALERT (KINDA)

J. 'Hammer' Helmer — Thu, 02 Jul 2009 21:06:14 GMT

125% is as useless as *** on a bull...............

re: MBS AFTERNOON: AFTER HOURS ALERT (KINDA)

J. 'Hammer' Helmer — Thu, 02 Jul 2009 21:04:59 GMT

I think you should rent a minivan at Hertz.

re: MBS AFTERNOON: AFTER HOURS ALERT (KINDA)

Michael Brennan — Thu, 02 Jul 2009 21:04:58 GMT

Suntrust reprice for the better.......for 20 min...reprice for the worst LOL!!!!

re: MBS AFTERNOON: AFTER HOURS ALERT (KINDA)

Nick Olson — Thu, 02 Jul 2009 20:59:50 GMT

I was offered a 30 yr FHA @ 5.25% with .625 points Im in the middle of a short-sale (put contract in Feb 20) The seller has 2 mortgages on the property. The first lender (wells fargo) has accepted the shortsale and we are waiting on approval from her second lender (countrywide). The listing agent told my realtor that she expects to have us close by the end of the month (but we've heard this before) What do you think I should do? Thanks Nick

re: MBS AFTERNOON: AFTER HOURS ALERT (KINDA)

Nate Miller — Thu, 02 Jul 2009 20:43:53 GMT

seriously, 125 worse at pf, gezz

re: MBS AFTERNOON: AFTER HOURS ALERT (KINDA)

Chris Kendall — Thu, 02 Jul 2009 20:43:39 GMT

I'm in the same boat James. I went ahead and locked yesterday at 5.375. Hoping I can float down a bit.

re: MBS AFTERNOON: AFTER HOURS ALERT (KINDA)

Bobby Downey — Thu, 02 Jul 2009 20:40:16 GMT

The selloff is happening now so feel better Michael.....we have lost almost all of the days gains......oh well....the rich get richer and the poor eat government cheese..... Time for scotch and fireworks should be a good mix.....

re: MBS AFTERNOON: AFTER HOURS ALERT (KINDA)

Michael Cromwell — Thu, 02 Jul 2009 20:38:32 GMT

It's not the 125% of old. The increase in HASP will not even make the smallest dent here in Florida. They're just spinning wheels, and trying to protect the investors. Restructure principal or get on w/ the mass foreclosures. Enough already. Let's move on! I am going to contribute to the local economy now. My savings rate will be a little damaged by Monday. Everyone be safe!

re: MBS AFTERNOON: AFTER HOURS ALERT (KINDA)

Michael Cromwell — Thu, 02 Jul 2009 20:31:29 GMT

I really didn't like locking in those last 2 loans. I would have liked to float 'em all into next week. It really felt like there was going to be a sell off earlier. AQ, MG, VB thanks for all of your work! Every body have a great 4th.

re: MBS AFTERNOON: AFTER HOURS ALERT (KINDA)

Jesse Salas — Thu, 02 Jul 2009 20:30:46 GMT

Is anyone else speechless with this 125% program. Don't get me worng, great for business and borrowers, but 125%. CRAZY!!