Mortgages MAX

Posted To: The Garrett Watts Report
Securities firm Keefe, Bruyette & Woods has identified 393 banks with Texas ratios greater than 100%. If we assume that 75% of them will fail (our number, not Keefe’s), that would represent $141 billion in assets, and assuming a 25% loss ratio (our number, not theirs), this would cost the FDIC $35 billion. If you’re worried that you’ll be required to own 5% of every loan you sell, find something else to worry about. Congress is not going to allow something that would kill the housing recovery….. and housing itself. Even if it did get passed, we guarantee you that some Wall Street firm would figure out how to securitize the 5% pieces. Private funds would buy them, and even if they got bought at a discount, that would just be factored into what the borrower pays….(read more)
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Original post by C.M. "Corky" Watts, CMB

Posted To: Community Commentary
I originally published this story on SuretyBonds.com , but feel the current environment justifies spreading the word. Consumer complaints about debt-assistance companies have spawned tougher new laws designed to crack down on scam artists. In many states, these new laws require companies to carry surety bonds to enable repayment if they abscond with customers’ money. In other cases, recent lawsuits against shady operators may inspire even stricter laws. Here’s a quick look at several industry niches related to consumer debt where states have recently passed new rules: Credit counselors : In Louisiana, three out-of-state credit-repair companies were hit with “cease and desist” orders from the state attorney general after failing to post a $100,000 surety bond with the…(read more)
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Original post by Carol Tice

Mortgage-Calc.com provides a mortgage calculator, various financial calculators and amortization schedule tables for consumers.

Original post by Victor Burek