WAMU Fails, $700b Bailout Stalled Out, GDP Up, New CA Real Estate Laws

Bailout Stalled Out Negotiations are scheduled to resume at 8:30AM PST on the bailout plan in an attempt to reach an agreement. Democrats are insisting that a majority of Republicans support the proposal because Democrats do not want to campaign for the November election against opponents who say that the incumbent Democrats bailed out big

New Homebuyer Tax Credit, Inflation Hits Disney

The price of a standard admission Walt Disney World in Florida rose to $75 per day, up from $71 since August 2007. A child’s ticket, which previously sold for $60, rose to $63. Will this be the final inflation straw that pushes the Fed to increase overnight rates tomorrow? Doubtful, and there is no word

Secondary Marketing Quiz, Mortgage Industry Reacts To Housing Bill

“Keep skunks and bankers at a distance.” So the saying goes. Hopefully that pertains to bankers and not mortgage bankers, not that bankers are bad! Speaking of mortgage bankers, the attached letter from the MBAA detailing the key points of the new Housing Bill will hopefully answer many questions that originators have. SECONDARY MARKETING QUIZ

More WaMu News, Fed Meeting, Updates on Wells, HSBC & Chase

After announcing plans to raise $7 billion by selling ownership in their company, WaMu elaborated, “We will conduct our mortgage production business through our retail banking stores and our consumer-direct channels, which includes telephone and online sales. This is in line with our strategic direction to organize around our retail distribution network. As a result,