Ally

Forecast On Foreclosures & Loan Modifications

Usually I don’t repeat foreclosure numbers, for a variety of reasons. But the latest numbers were so bad I had to say something: the number of notices of default jumps 25.9% from the second quarter. An estimated 71,275 notices of default were filed against California properties during the three months that ended Sept. 30, with

Rates Down. Mortgage Insurance Stats.

As debt ceiling legislation passes the House and heads to the Senate, the market’s attention turns to the fact that our economy is languishing, and thus rates are moving down. Yesterday the ISM manufacturing index, which is closely monitored for a gauge of manufacturing activity, plunged to 50.9 in July from 55.3 in June –

Rates Down. Mortgage Insurance Stats.

As debt ceiling legislation passes the House and heads to the Senate, the market’s attention turns to the fact that our economy is languishing, and thus rates are moving down. Yesterday the ISM manufacturing index, which is closely monitored for a gauge of manufacturing activity, plunged to 50.9 in July from 55.3 in June –

Mood At Mortgage Bankers Association Secondary Marketing Conference

Just attended the MBA’s Secondary Marketing conference. The mood was decidedly upbeat. It seemed well attended with the usual array of investors such as Fannie, Freddie, Wells, Bank of America, Chase, CitiMortgage, PHH, SunTrust, and so forth, along with the usual cadre of vendors. There was definitely a hint that: (a) firms are still grappling