My CA Mortgage

Existing home sales jumped 6.8% in March, with home buyers racing to get a tax credit that expires in April, according to a real estate industry report released Thursday.
The National Association of Realtors reported that existing home sales rose last month to a seasonally adjusted annual rate of 5.35 million units, up from the revised [...]

The SEC claims that Goldman Sachs had marketed a packages of mortgages put together by a hedge fund that would profit if the mortgages fell in value. The mortgages did indeed fall in value with the bulk defaulting, and the SEC claims that Goldman neglected to fully disclose the role of the hedge fund in [...]

The government is just starting to crack down on these banks, hedge funds and wall street over this mortgage melt down.  Dont be surprised to see some HUGE fines and some high profile banks and investors go to jail.  The party is over for wall street, the dust is settling and its time to figure [...]

If an agent or company is having trouble originating loans in this interest rate environment, the rest of the year might not be much better. We’ve been in a 45 basis point range in the 10-year Treasury for nearly 4 months (3.54-3.99%), and mortgage prices have also been in a narrow range. It seems that [...]

President Obama’s foreclosure prevention plan has helped nearly 228,000 delinquent borrowers keep their homes, the administration said Wednesday.
That’s up from a month ago, when roughly 168,000 people received long-term mortgage modifications.
Another 781,000 troubled homeowners were in trial modifications, through March, officials said. Of these, 108,000 have been approved for permanent modification by servicers and are [...]

Morgan Stanley has told investors that its real estate fund may suffer a $5.4 billion loss on bad bets in the commercial property market, according to a report published Wednesday.
The loss would be the largest in the history of private-equity real-estate investing, according to the Wall Street Journal, which cited fund documents.
Morgan Stanley has told [...]

Of great interest to investors in mortgages are the buyouts by Freddie and Fannie. There is one important difference between Fannie & Freddie in terms of how the 120-day delinquency status is defined for buyout eligibility. For Fannie a loan is eligible to be bought out if it stays uncured for 4 consecutive months. For [...]

Now that the Fed has stopped buying old and new loan production, now what? Everyone in the business, including investors, knows that these loans are higher quality than those of a few years ago. These are fully documented loans with stricter underwriting guidelines and DTI’s. Not only that, but in many markets property values are [...]

 
So now we are done with the Fed’s program. It purchased $6 billion net in agency MBS over the past week, bringing its total net purchase to $1.250 trillion. On the first day post-Fed, current coupon mortgage securities only widened 3 basis points (invisible to any originator) to Treasury securities, although they widened 8 basis [...]