I sure am happy that I am not working in the mortgage business anymore! First, Bank of America won a restraining order barring Colonial Bank from selling or otherwise disposing of $1 billion in cash and loans held by Colonial. Colonial, who most think will be taken over by the FDIC any day now (and [...]

It is well known that big investors, who are servicing large portfolios of home equity loans, are seeing increasing delinquencies. If home equity loans start having more major problems, is the US Government going to come out with HEMP (Home Equity Modification Program)? (I can’t take credit for that one – it came from Rich [...]

Recently several people were seriously injured during the Running of the Bulls in Pamplona. As it turns out, unleashing angry bulls onto a narrow crowded city street is dangerous. Incredible! Speaking of danger, how about this economy? The volatility has certainly increased, with one day rates going up because “the worst is behind us” and [...]

Home Appraisal Issues I overheard the kids last night talking about doing chores. My daughter said, “If we stop dusting, we could use the coffee table for a message board!” Speaking of message boards, I have seen a few analysts state that they believe property appraisals are keeping a lid on values. More precisely, when [...]

All eyes were on the radiant bride as her father escorted her down the aisle. They reached the altar and the waiting groom. The bride kissed her father and placed something in his hand. The guests in the front pews responded with ripples of laughter and even the priest smiled broadly. As her father gave [...]

Obviously the Mortgage Banker’s conference hasn’t hit Disneyland quite yet.

The economic downturn has more Americans shifting to smaller homes. For example, Bernie Madoff just traded a 3,500 square foot penthouse for a 9 x 10 windowless studio in lower Manhattan. And for anyone needing financing on larger homes, it appears that Bank of America is truly “ruling the roost” when it comes to jumbo [...]

The other day my 14-yr old daughter told me that she had decided to become a vegetarian. I told her, “Well, that’s too bad. I guess that you’ll miss eating Animal Crackers in your lunch.” She is still puzzling over that one.

A jumper cable walks into a bar. The bartender says, “I’ll serve you, but don’t start anything.” Today’s Market News The GDP is the sum of all goods and services produced in the U.S., and is considered to be the best indicator of economic growth. The first revision to the 1st quarter GDP came out [...]

Two antennas met on a roof, fell in love and got married. The ceremony wasn’t much, but the reception was excellent.