Markets Don’t Know What To Do If you’re a trader, running a position and inclined to make occasional knee-jerk buy/sell decisions based on economic news, what would you have done yesterday with these headlines: Producer Prices show inflation is less than expected, Industrial Production rose 0.5% in October, the most in three months, Capacity Utilization [...]
Posts Tagged ‘GMAC’
MBS Traders Unfazed As BofA & GMAC Resume Foreclosures, Housing Starts Up 3rd Straight Month
MBS Reactions To BofA & GMAC Resuming Foreclosures Bank of America and GMAC are the home foreclosure processes that were frozen by documentation concerns. The WSJ reported that “Bank of America Corp. reopened 100,000 foreclosure actions, declaring that it had found no significant problems in its procedures for seizing homes. GMAC Mortgage, a lender and [...]
The Top 10 Loan Servicers That Control 70% Of Market. FHA, Fannie, Freddie Stances On Foreclosures.
Top Loan Servicers Who sends your mortgage statement? Bank of America is #1 with $2.1 trillion (20% of the market). Wells is #2 with $1.8 trillion (17% of the market). Chase has $1.4 trillion for about 13% of the market, Citi has about $700 billion for a 6% market share, and GMAC/Ally has about $300 [...]
Pre-FOMC Fed Analysis, Effects of Higher Gas Prices, How Can We Have Record High Deficits With Record Low Interest On Public Debt?
GMAC Hires Goldman To Sell Mortgage Unit In a story from the New York Post, GMAC has hired Goldman Sachs to start the process of selling Res Cap. Between GMAC being mostly owned by the government ($17 billion for 56%), and Res Cap losing billions of dollars, and Warren Buffett’s Berkshire Hathaway owning a sizeable [...]
Recent Economic Data OK but Long-Term Worries Prevail. Is Resulting Volatility Good Or Bad?
Economic Worries Yesterday’s stock market drop dominated the financial news. And a slowing economy helps rates and mortgage loan agents, right? (It’s a two-edged sword.) So the markets did not pay much attention to Non-Farm Productivity increasing over 6% during the fourth quarter of 2009. Efficiency in the last nine months of 2009 soared at [...]
Rumor: Fed May Extend MBS Purchases, US Dollar’s Impact On Rates, Mortgage Industry M&A
What Do Foo Fighters Know Mortgage Rates? Why can’t automated answering services at mortgage companies be more like the one at Nestle Crunch’s Hotline at 800-295-0051? When asked if you want to continue in English or Spanish, just wait for about 10 seconds, listen to the options and press “4”. Listen to the options again, [...]
Refis 76% of All Mortgage Apps, GMAC Bailout 3.0, Treasury Issuance $2.1t for 2009
Goodbye, 2009. Typing “2009″ is so much easier than typing “2010″, but such is life. And folks who are better at using words than I am (“than me”?) say 2010 is pronounced “twenty-ten”, not “two-thousand ten”. Speaking of “2’s” and “1’s”, The U.S. Treasury had a record year of debt sales last year, selling more [...]
Cashstration Defined, More on New Good Faith Estimate, Personal Income Up, Rates Even
Cashtration (n): The act of buying a house, which renders the subject financially impotent for an indefinite period of time. More On New Good Faith Estimate It seems that many companies are just resigned to putting aside money to write their borrowers a bunch of checks, or argue with investors, for the first several months [...]
Smaller Mortgage Firms Expand, Weak Treasury Auction, Jobless Claims Up, Trade Balance Narrowed, Fed Hike Soon?
Employees at a pizzeria in Ireland were fired for watching porn on the job. Isn’t that disgusting? Irish people attempting to make pizza! Small to Mid Size Mortgage Companies Expanding What isn’t disgusting is the number of mortgage companies which are interested in expanding. For example, First Centennial Mortgage, out of Illinois, is sending out [...]
Existing Home Sales Up 10%, Treasury Auctions & Rates, Big Banks Hire 17k,
In her new book, “Going Rogue,” Sarah Palin says she doesn’t like vegetarians. Palin says all vegetarians should go back to Vegetaria, where they came from. Unlike Conan O’Brien, from whom that line came, many investor bulletins are not concise. And I may have seen more releases from top investors of greater length, but I [...]
