Yet another lender has gone down in flames. Decision One Mortgage has ceased origination operations due to ‘market conditions and declining production volumes’. They will fund approved loans that complete by October 1st. There will be no funding after October 1st.
Anyone with a loan in process at Decision One that will not make that deadline will [...]
Entries from September 2007
September 26, 2007
Another One Bites The Dust
September 17, 2007
Rate Cut?
If the fed cuts rates this week, look for HELOC’s to adjust downward to follow the prime, which would most likely be 8%. All of those home-as-ATM folks will get a small bit of relief on those monthly payments.
In the real world, we are seeing numerous sales reps jumping ship from lender to lender, especially [...]
September 5, 2007
Political Posturing
Yesterday, Christopher Dodd, senator from Connecticut, had the following to say regarding the mortgage crisis:
“We may have as many as 1 million to 3 million people who could lose their homes, not because they lost their jobs, not because the economy collapsed, but because they got bad deals on mortgages,” said Senator Christopher Dodd, a [...]
