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"Well done, Ted. In anticipation of the shutdown, hopefully most loans in process had 4506-T and SSA forms executed with the IRS and Social Security Administration, respectively. USDA loans are the biggie here, with employees furloughed immediately and offices shuttered...."
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"Thank you for the timely update. As a REALTOR, I have been trying to stay on top of this for both my Buyers and Sellers. This was a very informative, easy to read article...."
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"Seeing some of our HELOC lenders expanding their LTV's. The good news is that folks with rates in the 3's can now take out home equity lines without fear of gumming up future refinances!..."
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"Matt, this question may have been asked already but here goes... hypothetically if the US were to default on its debts, treasury prices would plummet, would MBS suffer the same fate or would they be more attractive than treasuries at that point...."
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"MBS would suffer. UST are the underlying 'commodity' - or benchmark bond - in the bond market. If the benchmark collapses, all others do. One would assume MBS would perform worse. IMHO..."
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"US Default would crush us. It won't happen because it is political suicide..."
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"Thats been my response too JR...."
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"All anyone could do is guess. I have a hard time guessing because it's not going to happen. Never say never, I know, but I'd be heading to Norway or something if it did. I think MBS would fare better because payments wouldn't be coming from Treasury...."
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"but both would likely be moving down in price, swiftly...."
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"Thats is my thought too, payment not comming from treasury so would be bad but not the same degree..."
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"and to be clear, "better" means "less awful than TSYs"..."
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