MARI Says Loan Fraud "Significantly Understated"; Risk Retention Reform Issues; Jumbo Loan Pricing; Many Important Investor Updates
Posted To: Pipeline Press
A Mississippi State trooper pulled over my brother on I-65. The trooper asked, "Got any ID?" My brother replied, "Bout whut?" How about "what the initial/informal volume reports are saying about April production levels?" Well, on a scale of 1-10, January was a 5, February was a 6, and March was a 9. April seems to be coming in around an 8. So, for the most part, while we moved down a little from March, activity is still better than January and February. Many regard this is as good news, given some of the dire "2010 will be 50% of 2009" predictions that mortgage banking analysts are promulgating. Still, we could see quite a drop off ahead unless guidelines loosen, properties appreciate, the job market improves, or rates drop significantly. So if you're…(read more)
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