Archive for big banks
Bank of America Freddie Mac and Fannie Mae Denials for Modification Sent Out In Error due to ‘System’ Mistake
Letters have been going out erroneously to borrowers with Bank of America letterhead stating the following: Bank of America, N.A. 5401 N Beach St TX2-977-01-34 Forth Worth, TX 76137 borrower… Read more
Deconstructing The “Massive Beat” in Employment Data
The headlines are blaring of a massive surge in January employment that blew away analysts expectations. Frankly, I find it hard to believe that any analysts would not have expected this “news.”… Read more
The Resurgence of the Broker Market
The continued woes of Bank of America that include the potential breach of a modification accord in Nevada, the Countrywide cement shoes and the mini-bailout by Warren Buffett (not to mention Citi,… Read more
The Too Big to Fail and The Too Small to Matter
Ironically, just when most Americans were preparing to kick off their Labor Day Weekend, we were given the alarming news that NO new net jobs were created in the month of August. Happy Labor… Read more
Rates Way Down, Apps Way Up… That’s Good, Right?
Last week mortgage applications rose a whopping 21.7% from the previous week according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. Great news for the industry… Read more
Who’s Hiring Wholesale AEs, and Where…
As promised, my post on which wholesale lenders are hiring account executives right now, and where they are hiring. It has been a bit of a moving target, to be honest. This list is not meant to… Read more
Loan Modification & the Comprehensive Homeowner Financial Recovery Program – The New Paradigm
In Feb 2010, I authored an article for ML-Implode titled “HAMP=Foreclosure” that was well received. The article dealt with the effectiveness of HAMP, and revealed issues with HAMP that would… Read more
Bullish Signs For Housing Bearish For Banks
Originally published May 2nd at the Wall Street Examiner. Listing prices rose again in May and the gains, while seasonally normal, are much stronger than they were last year. This is in the… Read more
HAMP = Foreclosure
Over the last year, I have been watching the HAMP modification program with great interest. I have wanted to believe that the Federal Government would actually put into place a loan modification… Read more
