Posted To: MBS Commentary

(A bit long, but another worthwhile closing post to read… with some not-often-phrased-in-such-a-way explanations. I enjoyed writing it at least. Let me know what you think.) You know the "stock lever?" If not, that's the term we use to describe the common occurrence of stock prices and bond prices moving in opposite directions. Doesn't happen all the time, but in a general sense, sure. Last night we talked about both stock and bond markets closing at some pretty long term "on the fence levels" and so it was a reasonable assumption that it was up to retail sales and whatever else Friday could muster to convince stocks to go one way and bonds to go the other. I didn't have the minerals to offer a solid prediction, but simply that it could be a big day either…(read more)

In many or most cities across the land, there are more foreclosed homes for sale right now. More than new homes that have never been occupied. And some of the best deals in decades are available.

Charleston is geographically located in the United States, South Carolina on the coast of the Atlantic Ocean. Charleston is a popular tourist destination and a great place to live at because of its historical value. It has plenty of recreation choices to keep you active. Here are some of the historical sites that Charleston is known for.

There are few negotiating techniques more powerful than The Cringe. Even if you know of no other negotiating techniques, a well-placed cringe can save you tens of thousands of dollars or more when buying your home.

A quick look at short sale might be so inviting but be careful before you even think of buying it. There are certain issues that you need to unravel regarding the condition of such property. Should you consider buying a short sold home, find out everything you can about the potential home. Here are some important considerations you need to know before looking at short sale. They might be of great value to you when you begin your shopping for such kind of house.

Can’t afford your mortgage and thinking of packing up and simply walking away? Foreclosure isn’t necessarily inevitable, and a foreclosure defense lawyer can help you explore the many better options available to you.

Posted To: Mortgage Rate Watch

While benchmark Treasury yields moved slowly higher throughout the course of the week as our government auctioned debt to raise spending money, mortgage-backed securities managed to maintain a pretty consistent price range. After all was said and done and the auctions were behind us, mortgage rates were left basically unharmed, near the best levels of 2010. There was one more test to pass though: RETAIL SALES DATA. The Commerce Department released Retail Sales data at 8:30 am eastern this morning This report shows the monthly change in the total receipts at retail stores. Since consumer spending accounts for a large majority of GDP, market participants track retail sales to gauge economic growth. Last month’s report posted a 0.5% increase, a notable improvement from December’s disappointing…(read more)

Posted To: The Garrett Watts Report

Audited financials are starting to come in, and they’re confirming what we saw all year. Top performing mortgage bankers made 90-100 bps per loan. That means, for every $100 million you closed, you should have (and could have) earned $900,000 to $1 million. If you didn’t make this much, you need to look carefully at why you didn’t. Or call us for a FOCIS-plus diagnostic to see what you can do to boost earnings per loan. The top quintile of companies we worked with over the year made over 100 bps per loan, with the top performer making 121 bps. For every $100 million they closed, they made $1.21 million. What most mortgage company Boards are somewhat clueless about is their earnings broken down into bps per loan. We see companies that did, say, $1 billion last year and earned…(read more)

Trying to deal with foreclosure and find an alternative to keep your home means you must convince your bank that you are facing a financial situation out of your control. You will need to write a hardship letter that explains your circumstances but also gains your lenders empathy and cooperation.

An article with tips and advice on finding government foreclosure listings. Includes factors to consider to before purchasing to ensure a good bargain.