tag:blogger.com,1999:blog-20947909.post1723047345278562632..comments2023-08-01T08:52:18.288-06:00Comments on Random Meanderings and Other Meaningless Blather: Fannie/Freddie to rescue the "Lending Crisis" (?)That One Guyhttp://www.blogger.com/profile/02733838946095632239noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-20947909.post-75218196294190955482007-04-20T15:28:00.000-06:002007-04-20T15:28:00.000-06:00Reach - this cycle is a never-stopping pendulum. I...Reach - this cycle is a never-stopping pendulum. It is always moving in either one direction or another. The swing is usually 7-8 years. We are in the second full year of the pendulum moving rates up and values down. Sometimes the Rate/Value swings aren't correlated, and when that happens, you have a perfect storm of trouble for people who have no oars. Like right now.<BR/><BR/>It's a greed thingThat One Guyhttps://www.blogger.com/profile/02733838946095632239noreply@blogger.comtag:blogger.com,1999:blog-20947909.post-54451727182674491602007-04-20T15:25:00.000-06:002007-04-20T15:25:00.000-06:00Re: CAPS... note also that sometimes, depending on...Re: CAPS... note also that sometimes, depending on the lender, that middle number in the 626 example, the "2" represents the percentage amount that the rate on the loan can be raised each time after the initial adjustment takes place (the "6")<BR/><BR/>It just depends on the lender.That One Guyhttps://www.blogger.com/profile/02733838946095632239noreply@blogger.comtag:blogger.com,1999:blog-20947909.post-42666066561310046842007-04-19T09:42:00.000-06:002007-04-19T09:42:00.000-06:00Our first home was in a subdivision of tiny starte...Our first home was in a subdivision of tiny starter homes that was built when interest rates were in the stratosphere back in the late-70s to early-80s. We came onto the scene a few years later when interest rates had gone down substantially.<BR/><BR/>It was amazing to see the number of foreclosures in the neighborhood. We picked up our home at a good price from a distressed seller.<BR/><BR/>A Scott Hinrichshttps://www.blogger.com/profile/11831447472339880148noreply@blogger.comtag:blogger.com,1999:blog-20947909.post-66907649495458290262007-04-19T08:00:00.000-06:002007-04-19T08:00:00.000-06:00ACTUALLY, I REALIZED THIS MISTAKE IN THE MIDDLE OF...ACTUALLY, I REALIZED THIS MISTAKE IN THE MIDDLE OF THE NIGHT LAST NIGHT... IT'S ACTUALLY SALLIE MAE, THE STUDENT LOAN COMPANY WITH GOVERNMENT SPONSORSHIP THAT HAS ENTERED THE AGREEMENT TO BE ACQUIRED...<BR/><BR/>THANKS FOR THE CALL-OUT ON THAT ONE, I STAND CORRECTED.<BR/><BR/>AND THANKS FOR READING, WHOEVER YOU ARE.That One Guyhttps://www.blogger.com/profile/02733838946095632239noreply@blogger.comtag:blogger.com,1999:blog-20947909.post-13563356452120940522007-04-19T07:56:00.000-06:002007-04-19T07:56:00.000-06:00where did you hear that fanniemae was getting boug...where did you hear that fanniemae was getting bought out?ragdelaedhttps://www.blogger.com/profile/11965737951846859952noreply@blogger.comtag:blogger.com,1999:blog-20947909.post-68575403643581771092007-04-18T12:41:00.000-06:002007-04-18T12:41:00.000-06:00Yes, made perfect sense, now OneHung can stop wond...Yes, made perfect sense, now OneHung can stop wondering why he writes checks to different lenders all the time (rental house loan has been sold numerous times as well).OneHungManhttps://www.blogger.com/profile/02153343488554848976noreply@blogger.comtag:blogger.com,1999:blog-20947909.post-22119732159587729652007-04-18T11:39:00.000-06:002007-04-18T11:39:00.000-06:00You ask two questions:First - what is the benefit ...You ask two questions:<BR/>First - what is the benefit of a mortgage holder to SELL a loan?<BR/>Answer: Typically, those who actually originate the mortgage loan are small companies, with limited cash on hand, maybe up to 20 million. (that's about enough to originate 100-150 mortgage loans. If I am a lender who is holding a performing loan, I have interest income on the payments every month - butThat One Guyhttps://www.blogger.com/profile/02733838946095632239noreply@blogger.comtag:blogger.com,1999:blog-20947909.post-9537597778559499412007-04-18T10:40:00.000-06:002007-04-18T10:40:00.000-06:00You're a genius, and OneHung is, well, let's just ...You're a genius, and OneHung is, well, let's just say it's a good thing he's got three legs. He refinanced the house he lives in five years and some change ago. The loan has been sold twice in those five-plus years.<BR/><BR/>What's the benefit for a lending institution to sell a loan/buy a loan?OneHungManhttps://www.blogger.com/profile/02153343488554848976noreply@blogger.com