Portland Mortgage Broker

Mortgage bonds began Friday’s session by slipping below the key 50-day MA support level. However, bonds roared back to not only reclaim this important level of support but also continued to surge higher following the release of tame inflation data coming from the Core Personal Consumption Expenditure Index (PCE).
The Core PCE, the Fed’s favorite […]

The default rate on securitized subprime loans hit 25.2% in December, up 185 bp from that of the previous month. Additionally, defaults on alternative-A loans are also surging, according to a report by Friedman Billings Ramsey Investment Management.
Until recently, subprime mortgage loans made up about 8% of all mortgages originated. That means the national default […]

So it occurred to me in the early hours of this morning while I was wishing for sleep that the problems we face are not monetary, but psychological. No matter how cheap the Fed makes money, we face a systemic lack of confidence and unavailability of credit within the U.S. markets. As I was idly […]

So I’ll be the first to admit there’s been an awful lot of well-publicized malfeasance in the mortgage world that has contributed to our current state of affairs, but it all just makes me wonder - which came first? Did credit dry up as a result of defaults? Or are defaults rising because subprime borrowers […]

Fannie Mae and Freddie Mac, the two largest purchasers of residential mortgages, are sponsoring a new appraiser code of conduct designed to hold appraisers at arms-length from lenders. Beginning January 1, 2009, the two GSEs (Government Sponsored Entities) will only buy home loans from lenders who endorse this new code of conduct. This action is […]