Continued uncertainty about loan modifications are still an impediment for investors returning to the market with residential mortgage-backed securities (RMBS).  According to Jacob Gaffney, the Federal govenment’s bailout and stimulus package has “created an environment where private investors in the securitization are reluctant to come back to the sector en masse.”
Scott Sambucci earlier this week [...]

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Interest rates have been stable over the past week but appear ready to rise based on Obama’s budget which among other things promotes job growth, responsible government spending and is viewed as a positive for the economy based on today’s bond trading.  There were several other positive economic reports out Monday [...]

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Did you know that there is a program that allows seniors (62 years and older) to purchase a new home without taking on a new monthly mortgage payment?  It will enable seniors to:
Purchase a primary residence more suitable for their current needs (ie. single story vs. two story)
Purchase a home in a senior housing community
Move into [...]

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Freddie Mac today released the results of its Primary Mortgage Market Survey®  in which the 30-year fixed-rate mortgage (FRM) averaged 4.99 percent with an average 0.7 point for the week ending January 21, 2010, down from last week when it averaged 5.06 percent. Last year at this time, the 30-year FRM averaged 5.12 percent. 
Please note [...]

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Jumbo mortgages in Santa Clara County has been reclassified from a market risk perspective to class 1, which is the least risky class!  The major benefit is that now a borrower can put down 20% on a jumbo loan and only need to show 10% of the loan amount in liquid funds as reserves.  This should [...]

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