Cantor Fitzgerald

Bank Earnings Roundup

Lee Farkas, the former chairman of Taylor, Bean and Whitaker Mortgage Corp., was found guilty on all 14 charges stemming from a seven-year, multibillion-dollar fraud scheme that led to the collapse of his firm and Colonial Bank. Even the photo can make you cringe. At this point Mr. Farkas is probably not interested that Cantor

Is 2011 The Year Housing Actually Hits Bottom?

Stocks are at a two-year high, commodities are rising and bond yields are still very low by historic standard—which all contributes to the consensus that rates won’t drop back down to October lows. However most economists, market strategists and money managers are tempering their optimism and predict modest economic growth and low inflation in 2011.

Another Mortgage Closure, Housing Starts Dismal

GM wants $17 billion more. One trader from Cantor Fitz mentioned that, “GM seems like a pension plan that occasionally makes a car somebody occasionally buys.” Citi Loan Changes First things first. Yesterday I mentioned that “CitiMortgage now requires the following minimum FICO scores on all FHA and VA loans, including FHA Streamline and VA

Technical Explanation Of Mortgage Trading, And 4% Rates*

So your Lock Desk is getting heat from the agents about pricing. And they say, in addition to the profit margins the owners want, there is the spread between best efforts and mandatory loan sales that investors are charging. “Well over a point, maybe even two points now,” they claim, “that’s why we’re getting beat

When Will Housing & Rate Markets Come Back?

It was one year ago today that First Magnus threw in the towel. Hopefully all those folks have landed on their feet, either through StoneWater Mortgage or other lenders… INVESTMENT BANKS DOWNGRADE EACH OTHER “I’m a vegetarian not because I love animals, but because I hate plants.” Can’t investment banks just get along? Goldman Sachs