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Gary Powell
GaryP

Texas
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"On top of the investor issues are reps and warrants. Even though the program allows for up to 125% LTV, we're limited to 105% on DU refi plus. Obviously, the investors don't really have a taste for these loans because of the liability overhang. How can the right hand of the government encourage lenders to loosen guidelines if the left hand is suing the same lenders for loose underwriting. Does anyone besides me see a problem with that?"    View Comment
"They said licensed entities, so I assume that does not include "registered" folks at the depository lenders. What I wonder about is how does that compare to where we were at the peak? What percentage of us are left from about 2005-2006? I was at a local NAMB meeting a while back and the speaker, who was previously involved in setting up the licensing system in TX, said that he thought that we were down to around 15%."    View Comment
"Hmmm, as previously noted by Adam, there has been a pretty dramatic widening of spreads between MBS and Tsys. Can we expect this spread to be sustained? Is this just the new normal?"    View Comment
"S&P just downgraded FNMA and FHLMC to AA+. At the same time, the 10 yr. just broke through 2.40. Waiting to see what happens to MBS."    View Comment
"The 10 year seems to be in freefall. At 2.43% and still dropping fast. Trying to find a new bottom?"    View Comment
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