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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Ramsey Su who wrote (45998)	11/22/2005 4:08:33 PM
From: ild	Read Replies (1) \| Respond to of 110194

IMO it's mostly competition from bigger banks.

To: Ramsey Su who wrote (45998)	11/22/2005 6:56:53 PM
From: John Vosilla	Read Replies (2) \| Respond to of 110194

<When these deadbeat borrowers started getting foreclosed upon, they are going to be squealing. Furthermore, I am still convinced that some lawyer is going to pick up on the stated income angle and file some massive lawsuit. I bet you that it would not be difficult to find a few borrowers who had been coached by mortgage brokers to "state" their income "appropriately".> Great point and makes the risk even greater of collapse in subprime lenders down the road. Fastest growing homeowneship rates these days in black and hispanic demographics. Ownership society and push for over 70% homeownership rate. Blame Washington. Blame Wall Street..It will be just in time for 2008 elections..

To: Ramsey Su who wrote (45998)	11/23/2005 9:38:40 AM
From: russwinter	Read Replies (1) \| Respond to of 110194

Rate drop hasn't helped the purchase or refi activity so far, refis are getting quite crunched: WASHINGTON, D.C. (November 23, 2005) —The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending November 18. The Market Composite Index — a measure of mortgage loan application volume – was 635.4, a decrease of 3.4 percent on a seasonally adjusted basis from 657.6 one week earlier. On an unadjusted basis, the Index increased 4.8 percent compared with the previous week, but was down 11.8 percent compared with the same week one year earlier. The seasonally-adjusted Purchase Index decreased by 1.2 percent to 472.3 from 477.9 the previous week whereas the Refinance Index decreased by 6.9 percent to 1584.1 from 1702.4 one week earlier. The Refinance Index is down 17.4 percent compared to four weeks ago when the index was 2144.5 Other seasonally adjusted index activity includes the Conventional Index, which decreased 2.8 percent to 953.4 from 980.8 the previous week, and the Government Index, which decreased 11.4 percent to 104.6 from 118.1 the previous week. The four week moving average for the seasonally-adjusted Market Index is down 1.7 percent to 650.3 from 661.2. The four week moving average is up 0.3 percent to 463.4 from 461.9 for the Purchase Index, while this average is down 4.6 percent to 1737.0 from 1820.2 for the Refinance Index. The refinance share of mortgage activity decreased to 39.9 percent of total applications from 40.4 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 33.2 percent of total applications from 32.9 percent the previous week. The average contract interest rate for 30-year fixed-rate mortgages decreased to 6.26 percent from 6.33 percent one week earlier, with points decreasing to 1.11 from 1.26 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.