MBS Live : MBS Morning Market Summary The absence of European trading and headlines makes for an extremely quiet session today in terms of volume and the pace of events that require responses from human beings. Despite the generally quiet headline ticker, this morning’s ISM data was certainly a positive influence for bond markets. Combined with a low-volume, corrective move off opening lows, it’s made for the appearance of a somewhat while swing from 102-30 to 103-10 in Fannie 3.0 MBS. Indeed, a 12 tick move is substantial, but it’s a bit misleading. If we give …read more
There continues to be a debate about whether or not 30-yr mortgages/liens are a good idea or not . The MBA’s president – Dave Stevens – weighed in on the argument last week. “On the one hand it could be argued that the fully pre payable 30 year fixed rate loan was not a necessity in looking back historically. There is some truth to that – to be clear – mortgage interest rates have been on a steady decline for over three decades since their peak in 1980. While clearly home-owner preference for the 30 year …read more
While a mortgage is a financial contract between a borrower and a lender, when a foreclosure occurs there are repercussions that impact parties external to that contract, i.e. neighbors, tenant, and whole communities can suffer. In a Public Policy Paper prepared for the Federal Reserve Bank of Boston titled When Does Delinquency Result in Neglect? Mortgage Delinquency and Property Maintenance, Lauren Lambie-Hanson looked at the timing of one foreclosure side effect or externality, reduced upkeep, using conditions reported by constituents in the City of Boston. She used four sets of data, public records data on property …read more
So many times, I have heard “NO” in different ways: “Take it or leave,” “We won’t negotiate,” “The Terms are final.” Most of the times, this is just not true. I have learned that with the proper preparation and resolve “No” is just an obstacle to overcome and not an impasse.
From all the books and seminars taken, I have learned that you don’t get what you deserve, you get what you negotiate. During business transactions and litigation, good negotiation skills can win the day. But studies have shown that it is heightened expectations and a strong resolve that ultimately gets the results. Having the right attorney with the force and determination on your side can make all the difference.