This is the first item I have read that is written by someone (well two people actually) that knows what they are talking about.  Most people today think that lowering the discount rate or the fed funds rate is going to save the US real estate markets….guess again Beavis. The only thing that should do, […]

The Fed will be making an announcement tomorrow and the media as well as everyone else who doesn’t know what they are talking about, are hoping that they will announce a rate cut of some sort. While this will bring increased liquidity into the financial markets, it doesn’t mean the housing market will improve or […]

According to the TBWS.com daily update:
Washington Mutual is to stop providing warehouse lending lines (ouch)
Option One (Sub Prime) is to cut 575 jobs
First Horizon to cut 1,500 jobs in their secondary division
Countrywide funded ~$34Billion in loans in August of 2007, off 17% from August of 2006
tags: economy, loans, market, mortgage, residential

Related:

BofA Buys $2B of Countrywide’s […]

Rumors this morning that Citibank re-packager Lown Home (catchy name right?) is not funding loans anymore. This is just a rumor at this point, but I would suspect that their time in the market may be numbered based on what I have heard and read from a number of different sources.
tags: economy, financing, home loan, […]