The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Wyätt Gwyön who wrote (24571)	1/13/2005 5:03:10 PM
From: mishedlo	of 110194

how much does it typically cost (loan fees, etc.) to refi? i imagine it is many multiples of 1/8%. if it costs a point (8/8), then that means 8 more years to break-even on the refi. or am i using fuzzy math? Nothing and I mean NOTHING I assume FNM ate the cost (who else would) There were lots of costs too (title insurance, appraisal, etc etc etc) FNM in affect bought their own loan back from me twice, paid an intermediary something for the privelege, and got less of an interest rate out of it in the process. Yet every time rates dropped low enogh to cause refis to happen, FNM stock rallied. Not to mention that FNM also had to hedge these loans at a lower rate (and they were hedged for HIGHER rates) Is it any wonder they lost $9b? BTW I heard $32B (the rest not marked to market yet, but I can not prove it) Mish

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