Ricardo Cortez's (rcortez) Blog

Federal Reserve Chairman Ben Bernanke said on Friday it is appropriate to debate the future of mortgage finance firms Fannie Mae (NYSE:FNM - News) and Freddie Mac (NYSE:FRE - News), but U.S. backing for Fannie Mae and Freddie Mac debt they issue in their current form must stay firm. "Even if alte...

I recommendign asking these 5 Questions to all your clientsI am sure that if you have thought about buying a home and asked real estate agents, co-workers, friends and family the question if now is the time to buy, you have heard this response, "there will never be a better time to buy". This may...

earlier this year, while it was still in business, Wachovia Bank announced that they, (Wachovia) is exiting the General Bank wholesale mortgage origination channel. This was a shocking follow up from the announcement from Bank America closing its wholesale division of lending through mortgage bro...

The presidential race tightened after the final debate, John McCain gaining among whites and people earning less than $50,000, according to an Associated Press-GfK poll that shows McCain and Barack Obama essentially running even among likely voters in the election homestretch. The poll, which fou...

Mr. Prashant Gopal of Business week wrote an article about the financial crisis and what towns will be hit the hardest. 10 Towns That Will Be Hit Hardest 1. Darien, Conn.Share population in finance and real estate: 27.23%Nearest large city: New YorkPopulation: 20,666Median salary: $168,687 2. Bl...

Banks borrowed in record amounts from the Federal Reserve's emergency lending facility over the past week, while investment banks drew loans at a brisk -- though slightly lower -- pace, fresh proof of the credit problems gripping the country. The Fed's report released Thursday said commercial ban...

The Dow ended the day at its lows, finishing down 678.91, or 7.3 percent, at 8,579.19. T he blue chips hadn't closed below 9,000 since June 30, 2003, and haven't closed at this level since May 21, 2003. The Dow's 2,271-point tumble over the last seven sessions is its steepest seven-day point drop...

  A quick post for my fellow real estate professionals in Arizona;   as well as home buyers and home sellers who may be in escrow and should be aware of the AAR (AZ Association of Realtors) legal opinion on... ‘Appraisal Contingency' and how it buyer & seller rights, time frames and earnest monie...

Stocks plunged Thursday, sending the Dow Jones industrial average down 679 points -- more than 7 percent -- the stock markets are at their lowest level in five years. Stocks took a nosedive after a major credit-rating agency said it might cut its rating on General Motors and Ford, further rattlin...

Jobs are vanishing at the fastest pace in more than five years with pink slips likely to keep stacking higher in the months ahead, an urgent signal the country may be careening toward a deep and painful recession just as Americans prepare to elect a new president.  It was the ninth straight month...