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Ralph Migliozzi
Rogue Books
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Grass Valley,  California  95945
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"A huge shift is happening as we speak in how loans are bought ande sold. It looks as though That Wells Fargo, BofA, Chase and a combo of the other big 7 banks will take the place of FNMA and Freddie Mac, eventually. These banks are already creating their own CMO's and selling directly to Wall Street and hardly anything is being sold to Fannie and Freddie. The reason? They have no reps and warranties built into their offerings. They will not have any buy backs to dela with. Big chnages ahead for..."    View Comment
"A stated income loan with high credit scores, was not a sub-prime loan. That was known as an Alt-A loan. Stated income with bad credit was a sub-prime loan. The Alt-A market, now illegal, is in good shape and is performing. Unforutnstely, by outlawing Alt-A loans, there is no exit strategy for those trapped in there homes to sell or go buy a new one, putting additonal pressure on the short sale market."    View Comment
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