Archive for August, 2007
Capital One shutting down prime/non-conforming mortgage unit
Another major player dropping out of the non-conforming mortgage market. I have been amazed how rapidly these companies have decided no one will buy homes ever again, especially with a mortgage greater than $417k.
Capital One shares fall 5% in late trading - MarketWatch
yahooBuzzArticleHeadline = “Capital One shutting down prime/non-conforming mortgage unit”;
http://timplaehn.com/2007/08/20/capital-one-shutting-down-primenon-conforming-mortgage-unit/
Thornburg Mortgage Update
Over the last couple of weeks I have written my thoughts on Thornburg Mortgage several times. Thornburg TMA is a mortgage REIT that originates and invests in high quality adjustable rate mortgages. With the sub-prime mortgage and credit markets in general virtually imploding over the last several weeks Thornburg became the object of analysts’ [...]
High Yield Investing
I came across this very informative video at Forbes.com. I am always interested in high yield investments. Getting cash back from you investments gives you money to put to work elsewhere. The video focuses on some investments yielding over 10%.
See the video HERE: Note the video has two parts with an ad between. Good stuff [...]
Countrywide Pullback: Good for Thornburg Mortgage
Countrywide Taps Credit Facility - WSJ.com
Countrywide also said it will all but stop issuing loans that don’t comply with standards set by government-sponsored entities Fannie Mae and Freddie Mac, joining a growing number of lenders in a retreat that will further tighten the availability of loans. The steps are necessary, because investors aren’t buying loans [...]
“Good” news on housing starts
U.S. housing starts hit 10-year low in July; permits also lower - MarketWatch
Outside of the actual home-builders, I consider this good news. To get housing started again, the first step will be to bring down available inventory to more closely match current demand.
I think demand will pick up quicker than most think. A figure I [...]
