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Bugs.
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August 13, 2007 at 1:50 PM #74641August 13, 2007 at 1:56 PM #74522
JWM in SD
Participant“Come on, JWM you are chronically concerned about this, truth be told. Getting nervous? It will be o.k.”
2 -3 months ago, I was quite honestly concerned. At that point, the subprime mess finally started to get publicized and yet a lot of the posters didn’t want to believe that there was a systemic credit issue developing. Then suddenly in the past few weeks, BSC blows up and all of the ratings issues come to light and we begin to the credit contraction in earnest. I would say that the MBS investors did my work for me.
August 13, 2007 at 1:56 PM #74640Participant“Come on, JWM you are chronically concerned about this, truth be told. Getting nervous? It will be o.k.”
2 -3 months ago, I was quite honestly concerned. At that point, the subprime mess finally started to get publicized and yet a lot of the posters didn’t want to believe that there was a systemic credit issue developing. Then suddenly in the past few weeks, BSC blows up and all of the ratings issues come to light and we begin to the credit contraction in earnest. I would say that the MBS investors did my work for me.
August 13, 2007 at 1:56 PM #74647Participant“Come on, JWM you are chronically concerned about this, truth be told. Getting nervous? It will be o.k.”
2 -3 months ago, I was quite honestly concerned. At that point, the subprime mess finally started to get publicized and yet a lot of the posters didn’t want to believe that there was a systemic credit issue developing. Then suddenly in the past few weeks, BSC blows up and all of the ratings issues come to light and we begin to the credit contraction in earnest. I would say that the MBS investors did my work for me.
August 13, 2007 at 2:47 PM #74553DaCounselor
Participant“Among others, 7.9% for a full-doc 5/25 ARM with 20% down and a 700 FICO. Ouch. That’s gonna leave a mark.”
_______________________________“CFC Rates, not as high as quoted…
Maybe you guys are seeing the broker numbers, but we were locked into a 60 day jumbo today and the rate was 6.5% 30 year fixed (paid 1.5 points).
Before we finished locking, the rep told us it is better to come directly to the lender and not use brokers as their fees are astronomical. If anyone calls today with a credit score over 700 (as I’m assuming is the case among most of this financially savvy group), there is no way your rate should be as high as what’s being quoted here.”
_________________________Anyone else have any input regarding this rather large discrepancy in rates?
August 13, 2007 at 2:47 PM #74670Participant“Among others, 7.9% for a full-doc 5/25 ARM with 20% down and a 700 FICO. Ouch. That’s gonna leave a mark.”
_______________________________“CFC Rates, not as high as quoted…
Maybe you guys are seeing the broker numbers, but we were locked into a 60 day jumbo today and the rate was 6.5% 30 year fixed (paid 1.5 points).
Before we finished locking, the rep told us it is better to come directly to the lender and not use brokers as their fees are astronomical. If anyone calls today with a credit score over 700 (as I’m assuming is the case among most of this financially savvy group), there is no way your rate should be as high as what’s being quoted here.”
_________________________Anyone else have any input regarding this rather large discrepancy in rates?
August 13, 2007 at 2:47 PM #74675Participant“Among others, 7.9% for a full-doc 5/25 ARM with 20% down and a 700 FICO. Ouch. That’s gonna leave a mark.”
_______________________________“CFC Rates, not as high as quoted…
Maybe you guys are seeing the broker numbers, but we were locked into a 60 day jumbo today and the rate was 6.5% 30 year fixed (paid 1.5 points).
Before we finished locking, the rep told us it is better to come directly to the lender and not use brokers as their fees are astronomical. If anyone calls today with a credit score over 700 (as I’m assuming is the case among most of this financially savvy group), there is no way your rate should be as high as what’s being quoted here.”
_________________________Anyone else have any input regarding this rather large discrepancy in rates?
August 13, 2007 at 2:54 PM #74559ParticipantIsn’t there a window of time where both the borrower and lender have to lock into a rate??? We don’t how long Hype has been in the process of buying a house and where exactly the rate was locked in at. Keep in mind, these changes just happened late last week and some over the weekend. So, I would be really suprised if the lender tried to force a higher rate at the last minute…somehow, I don’t think that would have been good for business. Of course, Hype neglects to give us more information and skews the issue.
August 13, 2007 at 2:54 PM #74676ParticipantIsn’t there a window of time where both the borrower and lender have to lock into a rate??? We don’t how long Hype has been in the process of buying a house and where exactly the rate was locked in at. Keep in mind, these changes just happened late last week and some over the weekend. So, I would be really suprised if the lender tried to force a higher rate at the last minute…somehow, I don’t think that would have been good for business. Of course, Hype neglects to give us more information and skews the issue.
August 13, 2007 at 2:54 PM #74682ParticipantIsn’t there a window of time where both the borrower and lender have to lock into a rate??? We don’t how long Hype has been in the process of buying a house and where exactly the rate was locked in at. Keep in mind, these changes just happened late last week and some over the weekend. So, I would be really suprised if the lender tried to force a higher rate at the last minute…somehow, I don’t think that would have been good for business. Of course, Hype neglects to give us more information and skews the issue.
August 13, 2007 at 3:01 PM #74565stop_the_bubble_hype
ParticipantLocked this morning with a 30 day lock. This was on a jumbo mortgage (about $600K) with an A-paper program.
August 13, 2007 at 3:01 PM #74681ParticipantLocked this morning with a 30 day lock. This was on a jumbo mortgage (about $600K) with an A-paper program.
August 13, 2007 at 3:01 PM #74688ParticipantLocked this morning with a 30 day lock. This was on a jumbo mortgage (about $600K) with an A-paper program.
August 13, 2007 at 3:04 PM #74573NotCranky
Participanthttp://mlcc.ml.com/MLCCClient/TopNavigation/OptionalFeatures/ratelock.htm
There are programs where you can re-lock your rate closer to close or choose to keep the earlier lock.
Hype probably just confirmed with his mortgage person that he would prefer to keep the earlier rate lock. That was a good deal.
O.K Rustico was wrrrrrrrr. There is the information anyway.
August 13, 2007 at 3:04 PM #74692Participanthttp://mlcc.ml.com/MLCCClient/TopNavigation/OptionalFeatures/ratelock.htm
There are programs where you can re-lock your rate closer to close or choose to keep the earlier lock.
Hype probably just confirmed with his mortgage person that he would prefer to keep the earlier rate lock. That was a good deal.
O.K Rustico was wrrrrrrrr. There is the information anyway.
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