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"Bernanke on Housing's Role in Recovery; Mortgage Rates Battle Back"
Published: 2/10/2012
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    Answers: 100
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truerates
on Sat Feb 11 2012, 12:36 AM
If B of A forecloses on Ben B.'s residence, it just shows that there may be justice, after all. Was it not Mr. Bernanke that precipitated our present global financial catastrophe with his "Chicken Little" speech in July of 2007? That's the occasion when he decided to abandon the Fed's dual mandate of stable pricing and maximum employment in favor of meddling in the area of "consumer affairs" by publicly pointing an accusing finger at subprime lenders for funding bad loans, instead of asking why the Justice department wasn't enforcing laws already on the books that allowed prosecution for mortgage fraud. Why is this guy still running the Fed? Anybody got a clue?
Don
on Fri Feb 10 2012, 10:34 PM
Holy Cow Frank!! I am impressed. +1
Frank Ceizyk
on Fri Feb 10 2012, 10:18 PM
"the absence of house lock would have reduced the nation's unemployment rate by at most 0.10 percentage points annually"...perhaps this is because if it comes down to it, any financially sensible consumer is going to just walk away from the mortgage if the choice comes down to keeping a declining value asset, and earning an income or earning a higher income in another state. consumers are simply learning from Wallstreet--if the gamble turns out bad, just bail and start over somewhere else where the money is.
robert highsmith
on Fri Feb 10 2012, 4:21 PM
is it true or not? that bof a is actually foreclosing on Ben S. Bernanke home, what do you think
Matt Hodges
on Fri Feb 10 2012, 3:20 PM
same rule
SOURCE: Live Chat
Scott Valins
on Fri Feb 10 2012, 3:20 PM
are fannie/freddie 7 years for foreclosures?
SOURCE: Live Chat
Victor Burek
on Fri Feb 10 2012, 3:20 PM
i think the problem many had with tarp and also the problem the greek citizens have is yes...without tarp adn the austerity, things would get worse..but would get to a healthier economy sooner
SOURCE: Live Chat
Brent Borcherding
on Fri Feb 10 2012, 3:20 PM
You're in or you're out.
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 3:20 PM
Because why would we want to head out for the weekend without a fresh dose of Greek Drama?
SOURCE: Live Chat
Matt Hodges
on Fri Feb 10 2012, 3:20 PM
i like it
SOURCE: Live Chat
Matt Hodges
on Fri Feb 10 2012, 3:20 PM
nuclear option
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 3:20 PM
RTRS - RPT-GREEK PM SAYS WE MUST DO WHATEVER IT TAKES TO APPROVE BAILOUT DEAL OR FACE CATASTROPHE
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 3:20 PM
RTRS - RPT - GREEK PM SAYS WHOEVER DISAGREES WITH BAILOUT DEAL CANNOT STAY IN THE GOVERNMENT
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 3:20 PM
RTRS - OBAMA BUDGET TO SAY THAT FISCAL DEFICIT FOR 2013 WOULD EQUAL 5.5 PERCENT OF GDP - U.S. OFFICIAL
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 3:20 PM
RTRS- OBAMA BUDGET TO PROJECT DEFICIT OF $1.33 TRILLION IN FISCAL YEAR 2012, $901 BILLION IN FISCAL 2013-U.S. OFFICIAL
SOURCE: Live Chat
Brent Borcherding
on Fri Feb 10 2012, 3:19 PM
If the property is DU Refi Plus eligible...the borrower can have 100 properties, doesn't matter. Obviously, some lenders have overlays, but I've done this numerous times.
SOURCE: Live Chat
Adam Dahill
on Fri Feb 10 2012, 3:19 PM
question: borrower has 10 financied properties. I was going to CITI but they have a 714 fico and Citi requires 720 when you have 5-10 properties. Some of the homes are refi plus elligible. Does that make any difference? Any other lenders other than Flagstar that do 5-10 properties?
SOURCE: Live Chat
Matt Hodges
on Fri Feb 10 2012, 3:19 PM
my u/w recently told me there is a one month extension that they can do, but only before it expires
SOURCE: Live Chat
tom duff
on Fri Feb 10 2012, 3:19 PM
anyone help with this? I have an FHA deal aprsl has an effective date of 09/07/2011 the apprasier uploaded the report 10/07/2011, underwriting then asked for updated comps which the apprasier provided and uploaded 12/16/2011. UW is now telling me we need a new aprsl bc the effective date expired. Is there anyway around getting a new aprsl? thx in advance for any help...
SOURCE: Live Chat
Matt Hodges
on Fri Feb 10 2012, 3:19 PM
monthly is based on loan amount
SOURCE: Live Chat
Victor Burek
on Fri Feb 10 2012, 3:19 PM
yes..higher loan amount, higher mip monthly
SOURCE: Live Chat
Gaius Rossini
on Fri Feb 10 2012, 3:19 PM
hey quick FHA question if you guys can help me out - if closing costs are rolled into a loan, the monthly MIP increases as well right?
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 3:18 PM
http://www.federalreserve.gov/newsevents/speech/bernanke20110210a.htm
SOURCE: Live Chat
Matt Hodges
on Fri Feb 10 2012, 10:10 AM
appears WF gave back what they took away in RP yesterday PM
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 10:10 AM
RTRS- THOMSON REUTERS/U. OF MICH CURRENT CONDITIONS INDEX PRELIMINARY FEB 79.6 (CONSENSUS 84.5) VS FINAL JAN 84.2
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 10:10 AM
RTRS - THOMSON REUTERS/U. OF MICH US CONSUMER SENTIMENT PRELIMINARY FEB 72.5 (CONSENSUS 74.5) VS FINAL JAN 75.0
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 10:10 AM
more explanation: http://www.mortgagenewsdaily.com/mortgage_rates/blog/180770.aspx
SOURCE: Live Chat
Andrew Horowitz
on Fri Feb 10 2012, 10:10 AM
the last trade that you saw yesterday was the last trade of the 3.5 coupon for delivery into February, the current March coupon was trading and has been trading for several months, we roll to the next coupon for delivery which usually has a 10 tick spread
SOURCE: Live Chat
Michael Lewin
on Fri Feb 10 2012, 10:10 AM
If yesterday the 3.5 ended at 103.23, and today it is currently at 103.14, how is it up 4 ticks?
SOURCE: Live Chat
Steven Stone
on Fri Feb 10 2012, 10:09 AM
look at the chart of higher coupons...very evident there...looks like almost no roll at all
SOURCE: Live Chat
Steven Stone
on Fri Feb 10 2012, 10:09 AM
as more people think that, the roll tightens
SOURCE: Live Chat
Steven Stone
on Fri Feb 10 2012, 10:09 AM
if you dont think rates are going up...you can buy a later delivery...you get a bit of a discount for that
SOURCE: Live Chat
Steven Stone
on Fri Feb 10 2012, 10:09 AM
tighter rolls mean there is less interrest rate risk.
SOURCE: Live Chat
Matt Hodges
on Fri Feb 10 2012, 10:09 AM
is it good, bad or indifferent to us?
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 10:09 AM
103-22 to 103-14
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 10:09 AM
ended up only being 8 ticks
SOURCE: Live Chat
Scott Valins
on Fri Feb 10 2012, 10:09 AM
did we roll yesterday?
SOURCE: Live Chat
Jeff Anderson
on Fri Feb 10 2012, 10:07 AM
I'm pretty confident their 18th meeting on this will be the charm.
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 10:07 AM
I'm tellin' ya! It's no coincidence that Greece is the birthplace of theater. These guys know their drama and ain't shy about delivering it hand over fist
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 10:07 AM
RTRS - GREEK FAR-RIGHT PARTY LEADER SAYS ELECTIONS WOULD NOT PROVIDE A SOLUTION NOW, WOULD NEED MORE TIME
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 10:07 AM
RTRS - I explained to the other political leaders that I cannot vote for this loan agreement," George Karatzaferis, head of the LAOS party, told a news conference.
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 10:07 AM
RTRS- GREEK FAR-RIGHT PARTY LEADER SAYS ASKS FOR RESHUFFLE OF PAPADEMOS TECHNOCRAT GOVERNMENT
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 10:07 AM
RTRS- RPT- GREEK FAR-RIGHT PARTY LEADER SAYS CANNOT BACK BAILOUT AGREEMENT
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 10:07 AM
additionally, there were a few more headlines just after 7am eastern, and a huge volume spike for pre-market hours (not to mention 10's hit 8am at a ridiculously high futures contracts volume of 340k):
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 10:07 AM
here you go Jeff: http://www.mortgagenewsdaily.com/mortgage_rates/blog/247045.aspx
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 10:07 AM
" It all just looks like a broad-based unwinding of whatever optimism was created by Greece's negotiations. Are we doomed to relive all of this next week? Anyone seen Punxsutawney Phil? "
SOURCE: Live Chat
Matthew Graham
on Fri Feb 10 2012, 10:06 AM
just spell checking what I wrote last night Jeff, shouldn't be long
SOURCE: Live Chat
Jeff Anderson
on Fri Feb 10 2012, 10:06 AM
GM, all. Where's the cliffe notes for what happended overnight?
SOURCE: Live Chat
Don
on Fri Feb 10 2012, 9:49 AM
Countrywide commited fraud and noone is in jail. Feel free to replace "Countrywide" with B of A, JPM, Wells, Citi, etc. "Equal Justice Under Law" R.I.P. If this fundamental principle is not restored, "America R.I.P."
Frank Ceizyk
on Thu Feb 9 2012, 11:58 PM
"the allegations against Countrywide included claims that they had originated loans based upon inflated appraisals"...simply another piece of evidence of the failure the past and present valuing process used for residential real estate. a simple 1/5/10 year historical overlay could have prevented this, but we hold onto a 90 day snapshot for valuing the largest leveraged asset purchase Americans make. The boom only happens if you create, hard sell, and legitimize the value of the speculation, and have a big enough pool of uneducated speculators to draw from. Easy prey, easy money.
 

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