Archive for September, 2008

Welcome to Wall Street Extreme Makeover!

Monday, September 22nd, 2008

Well an unprecedented week in the financial markets.  What started in the summer of 2007 has become an acute situation of late.  We are witnessing losses of homes and jobs.  Paulson and Bernanke have come up with “drastic measures” for this man made hurricane.  There are those who applaud their measures and many others who […]

Requiem - Lehman and Merrill

Tuesday, September 16th, 2008

Man, are these tumultuous times or what?  You have Hurricane Ike laying waste to Texas and the Gulf Coast and a tsunami of a different kind raging on Wall Street.  Lehman Brothers, who have been in existence for over 160 years were unable to find a white knight over the weekend and were forced to […]

Fannie/Freddie R.I.P.

Tuesday, September 9th, 2008

Big news this weekend with Paulson and his minions announcing measures to provide funding to the two government sponsored entities (GSE’s) Fannie and Freddie.  These entities which together guarantee almost $5 trillion in home loan securities were, as Warren Buffett put it, technically insolvent.  They had to do it or the economy of the entire […]

Are Online Rates Better?

Saturday, September 6th, 2008

When the internet first became a tool for the mortgage business, we like a lot of mortgage companies, derived a significant portion of our business from web based requests.  In the last 4 or 5 years - it has slowed to a trickle.  Why?
BECAUSE WE ARE HONEST!!!!
You know how Wal-Mart can buy a billion bicycles […]