Tag Archives: commercial banks

You’ve Got To Put Your Money Somewhere

So why not in mortgage-backed securities? Since the subprime crash in 2007, investors have been reluctant to invest in mortgage-backed securities but high yields are enticing funds. Bloomberg reports: U.S. banks are accelerating purchases of government-backed mortgage securities as declining … Continue reading

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Effective Steps To Dealing With Lenders

Jack Cummings writes in his book on real estate finance: * Get to know the banks in your area, including mortgage brokers. * Make your first contact with the bank president or manager. * Learn the procedures of the institution. … Continue reading

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Federal Reserve Offers Refinance Solutions

WASHINGTON (AFP) — The US Federal Reserve said Monday it would begin to pay interest on bank deposits for the first time and expand its refinancing operations for commercial banks to 600 billion dollars in a bid to increase liquidity. … Continue reading

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Wall Street Troubles Caused By Subprime Meltdown

Column: Underlying the current financial turmoil is a significantly dreary problem in housing markets. The 1995 revisions to the Community Reinvestment Act specifically permitted subprime loans. The intent was laudable enough, to provide lower-income Americans a chance to buy homes … Continue reading

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Shopping For A Loan

Carolyn Warren writes in her book Mortgage Rip-Offs: The high-priced loan officer whispered to me: "The people we get frustrated with are the ones who actually know something about loans." Here are some bad ideas: * Shoppping for the best … Continue reading

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Mortgage Applications Drop

From the AP: Mortgage application volume fell 4.6 percent during the week ending May 23, according to the trade group Mortgage Bankers Association’s weekly application survey. Refinance volume declined 8.9 percent, pushing total volume lower. Refinance applications accounted for 46.1 … Continue reading

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Canadian Banks Cut Mortgage Rates

From the Canadian Press: "TD Canada Trust (TSX:TD) said Thursday it is cutting its posted rate by 0.8 percentage point to 6.15 per cent on a one-year closed mortgage, and trimming the five-year posted rate by 0.34 point to 6.65 … Continue reading

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What Are Collaterialized Debt Obligations?

From wikipedia: Collateralized debt obligations (CDOs) are a type of asset-backed security and structured cr product. CDOs are constructed from a portfolio of fixed-income assets. These assets are divided into different tranches: senior tranches (rated AAA), mezzanine tranches (AA to … Continue reading

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American Mortgage Applications Up

From Business Week: Mortgage application volume rose 2.9 percent during the week ending May 9, according to trade group Mortgage Bankers Association’s weekly application survey. Refinance volume increased 6.5 percent during the week, while purchase volume fell 0.7 percent. Refinance … Continue reading

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Restoring Faith In The World’s Credit Markets

Reuters reports on solutions to the credit crisis. Should central banks start buying toxic mortgages? The Bank of England says it will not. LONDON: The global financial crisis that has raged for months shows no signs of ending, and the … Continue reading

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