In Favor Of Bank Tax Yesterday I noted a few comments by Warren B. about the tax on banks. In an effort to give equal time, many feel that a bank tax is fine. They say that because the government is already giving the banks money at 0% and the banks are buying treasuries and [...]

Consumer Confusion Over Loan Disclosures One loan agent wrote and said, “This week we sat down with a borrower that is doing an FHA loan. The seller is paying all of the closing costs and as usual the borrower is financing the upfront MIP. Essentially the borrower is coming in with their 3.5% down payment. [...]

Rate Update & Market Preview Rates are down about .125% from last week as mortgage bonds rallied on weak retail sales, benign consumer inflation, and well-received Treasury auctions. The extent of the bond rally would suggest lower rates, but lenders are holding the line on pricing to see if the rally holds next week. When [...]

Housing Markets After Government Help Ends There is no one that will disagree with the statement that the mortgage markets benefited from government intervention last year. And practically everyone believes that, given the significant challenges housing is facing, the government will stay focused and do whatever it takes to support the market. For this reason, [...]

A common question among mortgage shoppers is: what if rates get better after I lock a rate for my loan? The answer is that locking a rate is much like buying a stock.

First Bank Failure of 2010 The first bank to fail this year is Horizon Bank (WA), with 18 branches that are now being run by Washington Federal Savings and Loan Association, who also assumed all of Horizon’s $1.1 billion of deposits.

Note: No commentary tomorrow, as I will be behind the wheel driving back with my son to the San Francisco Bay area from Utah. Happy New Year!

One never knows when the subject of mortgage banking will pop up – like yesterday. There I was at the Sundance Ski Resort (the one owned by “Bob” Redford) with my son. (He was there to snow board, I was there in the lodge trying to figure out an opening paragraph for today’s commentary.) I [...]

There are some very witty and clever folks out there. (The level of my wit is at about, “A horse walks into a bar. The bartender asks, ‘Why the long face?’” And my clever rating maxed out after I finished the ‘Pick a Peck of Puzzles’ book that I ordered from Scholastic Books in 6th [...]

Cashtration (n): The act of buying a house, which renders the subject financially impotent for an indefinite period of time.