 |
| |
|
 |
|
|
 |
| Referral Program |
Turn your
contacts into transfers! Make sure you take advantage of our
referral program. For every new client you refer who orders 50
transfers, you'll get 5 free transfers — a value of up to $500!
|
| | |
|
 |
|
Okay, so the news of the week has
to be the Wachovia mess. Nearly 7,000 employees are out of a job at
the company and they are shutting down the wholesale department.
We keep hearing over and over that some of the big banks
with deep pockets would fight this out but every day it seems to get
worse. I think we all can agree, at this point, we've probably found
bottom and the recent market uptick in the financials is likely to
be the new trend. It doesn't help that the 30 year rates shot back
up to 6.59% this week compared to 6.22% a week earlier. Over the
past month or so, rates have been going back and forth within this
range so it does not seem like we are going to see rates drop
significantly anytime soon.
Speaking of rates, I had lunch
with my partners today and we still can't figure out this new
government housing bailout bill. The President erased all fears
today that he would veto the bill. Fannie and Freddie stocks took
well to the news and are both up 12% today. With all that being
said, and even after reading all the stories on the bill, I still don't get it.
Also, do folks who make mortgage payments on-time and are just
earning enough to pay the rest of their bills get any help? I am
sure we all can relate to that one.
In regards to
DoublePositive, we are still very excited about the release of our
new products. If you missed it last week, I added a blog post
with the details of the new offerings. Please call us to find out
more. We are still shooting for an early-August launch of the
PositiveExpress ARM. I am in a giving mood today for sure. I just
got back from a family vacation and enjoyed the time away from the
front lines for a couple days. So, call me. I am in a deal-making
mood.
|
|
 |
US Mortgage Applications Index Fell 6.2% Last Week
(Update1) |
| Bloomberg |
| The Mortgage
Bankers Association's index of applications to buy a home or
refinance a loan fell to 489.6 in the week ended July 18 from 522.2
the prior week ... |
National City Posts $1.76 Billion Loss on Defaults
(Update2) |
| Bloomberg |
| National City
reserved $1.6 billion to cover credit losses tied to defaulting
mortgage, home equity and construction loans. That compares with
$143 million ... |
House Vote on Key Housing Legislation
Imminent |
| Originator
Times |
| Expands
opportunities for seniors to tap into equity in their home through
FHA reverse mortgage loans, by increasing the loan limit for the
program, ... |
Sales of Existing Homes in the US Probably Declined in
June |
| Bloomberg |
| Falling home
values, rising mortgage rates, tightening credit and stricter
borrowing guidelines continue to keep potential home buyers out of
the market ... |
Why Did IndyMac Implode? |
| BusinessWeek |
| But the St.
Louis resident, who is suing IndyMac and an independent broker,
claims the mortgage professionals inflated his monthly income from
$910 to $2500 ... |
View
the eletter archives at: http://eletter.doublepositive.com/
P.S.S. Did a friend send you this
newsletter?
Get
your own copy!
Log In to Your
Account | DP website
Copyright 2008 DoublePositive Group, Inc
1501 S. Clinton
Street, Suite 1520 | Baltimore, MD 21224
888-376-7484
| |
|
