Bear Stearns Collapse, JP Morgan to Bail Them Out
Another big one bites the dust. Amazing. Bear Stearns joins the ranks of the fallen Goliaths. Shocking as it may seem, however, I can’t say that I am shocked. The reason is that I have had firsthand insight into their internal operations - primarily through a stint I did at their [...]
US Federal Reserve Bank eases lending
Good news today on the lending and borrowing front. The Fed cut interest rates by 1/2%. That can make a significant difference in the overall cost of a home loan over its lifetime. In fact, it can make a big difference in getting a loan at all. Hint…
Related PostsMy federal income [...]
Mortgage industry’s pain continues - Countrywide cutting 12,000 jobs
That’s the report alright. But, we’re not surprised, are we? Sure, it is unfortunate anytime there are mass layoffs and industry downturns. The Lord knows I’ve seen my fair share as a consultant in the technology sector. But things are not as first meets the eye.
Related PostsCapital One cuts jobs and [...]
Capital One cuts jobs and shuts retail mortgage services off
Reuters ran the headline: Capital One slashes jobs, mortgage industry swoons. It is almost enough to upset the faint of heart. After all, we are told that there is a mortgage industry meltdown - or at least a subprime mortgage industry meltdown.
A “correction” would be a better term.
Related PostsMortgage industry’s pain [...]
Mortgage Meltdown, Wallstreet Worries, and Credit Crunch
Mid August greetings, and Happy Hurricane Season! Tropical Storm Erin just soaked South Texas, and Hurricane Dean is chugging across the Carribean as the southern states wait for the music to stop. Meanwhile, another type of storm rages in the financial markets. Though I stand by my assertion that the subprime mortgage [...]
Subprime Mortgage Worries Fueled by Foolish Fussing
Having been employed in the mortgage business, and particularly in the subprime aspect of it, I got to know it a little.
I have also learned to filter what I hear in the mainstream news - also known as the “driveby media”. When hearing reports about “subprime meltdown”, the real questions should be “what is the [...]
