Kris Krajecki's (imcallingkris) Blog

Don't you hate it when borrowers call you and say "Hey, I heard that the FED cut the rates...I want 6% instead of my 6.50% now!!How PRIME works.... If you are shopping for a new credit card, education loan, a car loan or a specific type of second mortgage called a home equity line of credit (HELO...

The U.S. House of Representatives subcommittee Thursday reportedly passed H.R. 3609. The bill would allow bankruptcy judges to modify the terms of a mortgage contract during bankruptcy proceedings. And, by a vote of 385-28, the House of Representatives Thursday passed H.R. 3648. That bill would e...

Some institutions are starting to be more proactive in modifying loans, FDIC's chairman said at an investor conference last week, according to a transcript of her presentation. She called for servicers to make teaser start rates permanent for owner-occupied borrowers with current mortgages, addin...

Treasuries fell, pushing yields on two-year notes to the highest in two weeks, after the government revised August job losses to a gain and said employment growth in September exceeded forecasts. Traders pared expectations the Federal Reserve will lower interest rates a second consecutive month a...

I got this e-mail from CW and thought I'd share...Dear Business Partner:First and foremost, I'd like to extend my sincere appreciation and thanks to our dedicated base of core Business Partners for your continuing support of Countrywide®, America's Wholesale Lender®. The immense value we place on...

The Department of Housing and Urban Development gave lenders the go-ahead last week to start refinancing delinquent subprime borrowers into Federal Housing Administration loans. The emergency program is designed to give certain subprime borrowers with adjustable-rate mortgages a refinancing optio...

Oct. 2 (Bloomberg) -- The U.S. housing market is unlikely to recover soon from the worst slump in 16 years, according to Michael Milken, the junk bond billionaire turned philanthropist. It will be ``quite a while before we have a robust housing market again,'' Milken said in an interview today. `...

I know I do not have to point out to anyone that the industry is changing daily.  Program guidelines and pricing are changing so fast and unfortunately without notice and effective immediately.  The Alt A Programs are being scrutinized by the investors as they are having problems securitizing the...

Bill Gross, manager of the world's biggest bond fund, said falling home prices will be the main driver of U.S. monetary policy for ``several years,'' and repeated his forecast the Federal Reserve will lower the federal funds rate to at least 3.75 percent in the coming 12 months. The Fed may delay...

For the first time since 1995, the U.S. bond market will rally on the assumption that the Federal Reserve has relegated inflation to a secondary concern because the central bank views a recession as a much greater threat to the economy. The bellwether 10-year Treasury note, which depreciated as i...