Bear Stearns

The Legend of Bond Trader & Pop Artist Eddie Rincon

Displayed below are three pictures of the same velvet painting entitled Ride The Storm. The first photo of the painting was taken on August 11, 2007 when massive market storms took root. The second photo was taken August 3, 2008. The third photo was taken last weekend: April 17, 2010. The obvious physical change in

Ride The Storm, Part 2: Markets Don’t Die, They Just Evolve

In our first quarterly report of 2008, we proposed “Ride The Storm” as phrase of the year, and discussed how aggressive Fed rate cuts and higher conforming loan limits might “break the storm clouds” in mortgage and financial markets. As 2008 moved on, 85-year-old investment bank Bear Stearns collapsed, Congress passed two economic and housing

How And When Would a Fannie/Freddie Bailout Happen?

Fannie Mae and Freddie Mac have had a few good trading days this week, but they’re still ripe for a near-term Treasury bailout if capital problems persist. As NY Times writer Gretchen Morgenson pointed out Sunday, this bailout is complicated by credit default insurance (or swaps). She’s covered this otherwise under-reported area of the credit

Is Bill Gates Last Day Like A Mortgage Exec’s Last Day?

Some experts believe that, as a typical consumer, my financial well-being can be measured by 5 basic indicators: job creation, changes in real wages, changes in home prices, changes in equity prices, and access to credit. Let’s see… mortgage bankers (and others in many other industries) are seeing “negative” job creation, my real wages are

WaMu Brokerage Closes, Florida, FHA Rules, Mortgage Prices

Does $5 billion buy you the right to shutter Washington Mutual’s broker business? You bet it does. It buys you the right to tell Washington Mutual to eliminate the business channel by May 31st (loans must lock by tomorrow, and most loans must fund by June 13th). WaMu announced yesterday to their employees that they