Eric's Blog

Here is some good news for everyone: I caught this today when perusing my usual financial sites.  It is from Dave Fader regarding the 2 YR Swap Spread and LIBOR.  Things are beginning to go the right way.  Let's up that the credit freeze does begin to thaw so that we can continue to see improveme...

A couple of weeks ago, my former colleague at Silver State Bank, began her very own blog.  Though I am jealous, as she seems to be more proficient at it than I am (see: Own domain name, good blog content, fun widgets), I am excited that she is continuing to increase her business through this tool...

Rates were high at the beginning of the week but have come down a bunch since Wednesday (see rates at www.1amllc.com/murrietta).  This should help to motivate a few more buyers in the marketplace.  It would be nice to see rates come down by another .50% over the next couple of weeks to make it ea...

As of December 1, 2008, Fannie Mae will no longer accept mortgages that are underwritten outside of the their most recent policy/guideline changes.  Following are a few of the policy changes. 1)  Interest Only loans must be underwritten using DU.  The Interest Only loans must receive and Approve/...

On a Monday that could have kept the panic alive, the Stock Market rebounded with its biggest advance in over 70 years.  As the stock market surged 963 points due to the "government plan to buy stakes in banks and a Federal Reserve-led push to flood the global financial system with dollars" (Stan...

The untold story of how rate cuts are affecting the future and current profits of banks.  Net Interest Margin (NIM) - Is a measurement of the difference between the interest income generated by banks...and the amount of interest paid out to their lenders (deposits) Wikipedia.org Problem - Communi...

Fall season is quickly approaching and the cooler it gets the more it feels like football and holidays.  (The two do go hand in hand).  There is always a ton to do outside as the weather cools...i.e. a comfortable bike ride, walking the dog (without burning their feet), driving with the windows r...

This week in Review: •1)       Bailout Bill - HR voted against the bill and the stock market tumbled to the tune of a 777 point drop.  And in form Mr. Market bounced back the next day, not quite a full recovery but a definite gain from the drop off.  Currently, the House of Representatives are st...

A new mortgagee letter from the FHA was posted yesterday.  In it the guidelines were changed for those homeowners who currently own a home and are looking to rent the property and buy a new primary residence.  The goal of these new changes is to "respond to an unscrupulous practice arising in the...

I am excited about the new changes that are happening.  Sure it will be sad to leave the people that I have come to know and love.  They truly are special.  Each person that I have worked with will be someone that I could look to in the future as a friend.  But alas, things that are not in our co...