[HarryBosch]

gdcox, you make a good point.

And since I try to post relevant information I have contacted a Carolyn Kemp ([email protected]) and asked her to see if she can get someone at MBAA (www.mbaa.org) to respond to my request for a breakdown of the total Mortgage Application Volume – how much percent is refi and how much percent is new (or used) finances.

If I get an explanation I will make sure to post since piggington.com seems to be a new hobby of mine 🙂

I did find this information though:

The Conventional Purchase Index decreased 0.7 percent while the Government Purchase Index (largely FHA) increased 0.2 percent (from one week earlier).

The adjustable-rate mortgage (ARM) share of activity increased to 8.0 percent from 7.3 percent of total applications from the previous week.

http://www.mortgagebankers.org/NewsandMedia/PressCenter/64512.htm

Another interesting article on their site was “MBA Study Shows Government-Insured Share of Mortgage Applications for July Tripled in the Past Year” http://www.mortgagebankers.org/NewsandMedia/PressCenter/64461.htm

[HarryBosch]

$60K high is a guess on my part. He’s only had his degree maybe 4-5 years. It’s possible, possible that his income is as high as $70K. His income is just a guess on my part – I dont need to know. I only found out about the co-sign through my wife whose sister is my nephew’s mother.

FWIW, I know that my brother-in-law seemed worried – uncharacteristic of him – when we talked about my nephew’s purchase. Of course I didn’t know about the cosign at the time so I just passed it off. Now I understand, looking back on the conversation, about his concern.

I know my nephew and his wife are solid people and my nephew has always been of good character. We shall see what happens. Control what you can and accept what you cant – life has its own twists and turns.

[HarryBosch]

$60K high is a guess on my part. He’s only had his degree maybe 4-5 years. It’s possible, possible that his income is as high as $70K. His income is just a guess on my part – I dont need to know. I only found out about the co-sign through my wife whose sister is my nephew’s mother.

FWIW, I know that my brother-in-law seemed worried – uncharacteristic of him – when we talked about my nephew’s purchase. Of course I didn’t know about the cosign at the time so I just passed it off. Now I understand, looking back on the conversation, about his concern.

I know my nephew and his wife are solid people and my nephew has always been of good character. We shall see what happens. Control what you can and accept what you cant – life has its own twists and turns.

[HarryBosch]

$60K high is a guess on my part. He’s only had his degree maybe 4-5 years. It’s possible, possible that his income is as high as $70K. His income is just a guess on my part – I dont need to know. I only found out about the co-sign through my wife whose sister is my nephew’s mother.

FWIW, I know that my brother-in-law seemed worried – uncharacteristic of him – when we talked about my nephew’s purchase. Of course I didn’t know about the cosign at the time so I just passed it off. Now I understand, looking back on the conversation, about his concern.

I know my nephew and his wife are solid people and my nephew has always been of good character. We shall see what happens. Control what you can and accept what you cant – life has its own twists and turns.

[HarryBosch]

$60K high is a guess on my part. He’s only had his degree maybe 4-5 years. It’s possible, possible that his income is as high as $70K. His income is just a guess on my part – I dont need to know. I only found out about the co-sign through my wife whose sister is my nephew’s mother.

FWIW, I know that my brother-in-law seemed worried – uncharacteristic of him – when we talked about my nephew’s purchase. Of course I didn’t know about the cosign at the time so I just passed it off. Now I understand, looking back on the conversation, about his concern.

I know my nephew and his wife are solid people and my nephew has always been of good character. We shall see what happens. Control what you can and accept what you cant – life has its own twists and turns.

[HarryBosch]

$60K high is a guess on my part. He’s only had his degree maybe 4-5 years. It’s possible, possible that his income is as high as $70K. His income is just a guess on my part – I dont need to know. I only found out about the co-sign through my wife whose sister is my nephew’s mother.

FWIW, I know that my brother-in-law seemed worried – uncharacteristic of him – when we talked about my nephew’s purchase. Of course I didn’t know about the cosign at the time so I just passed it off. Now I understand, looking back on the conversation, about his concern.

I know my nephew and his wife are solid people and my nephew has always been of good character. We shall see what happens. Control what you can and accept what you cant – life has its own twists and turns.

[HarryBosch]

First off, I’m not an economist nor a financial service professional so I can only offer up my uneducated opinion.

I thought that – traditionally – Savings and Loans, Banks, Thrifts, etc. would take the savers money and then reloan it out at a higher rate. That way they pay the saver a lower rate of return and then make their profit.

So if lending standards are tightened then they can’t lend out as much money due to fewer people qualifying. Then they would have to keep the savers rates lower than in good lending times. IMO.

[HarryBosch]

First off, I’m not an economist nor a financial service professional so I can only offer up my uneducated opinion.

I thought that – traditionally – Savings and Loans, Banks, Thrifts, etc. would take the savers money and then reloan it out at a higher rate. That way they pay the saver a lower rate of return and then make their profit.

So if lending standards are tightened then they can’t lend out as much money due to fewer people qualifying. Then they would have to keep the savers rates lower than in good lending times. IMO.

[HarryBosch]

First off, I’m not an economist nor a financial service professional so I can only offer up my uneducated opinion.

I thought that – traditionally – Savings and Loans, Banks, Thrifts, etc. would take the savers money and then reloan it out at a higher rate. That way they pay the saver a lower rate of return and then make their profit.

So if lending standards are tightened then they can’t lend out as much money due to fewer people qualifying. Then they would have to keep the savers rates lower than in good lending times. IMO.

[HarryBosch]

First off, I’m not an economist nor a financial service professional so I can only offer up my uneducated opinion.

I thought that – traditionally – Savings and Loans, Banks, Thrifts, etc. would take the savers money and then reloan it out at a higher rate. That way they pay the saver a lower rate of return and then make their profit.

So if lending standards are tightened then they can’t lend out as much money due to fewer people qualifying. Then they would have to keep the savers rates lower than in good lending times. IMO.

[HarryBosch]

First off, I’m not an economist nor a financial service professional so I can only offer up my uneducated opinion.

I thought that – traditionally – Savings and Loans, Banks, Thrifts, etc. would take the savers money and then reloan it out at a higher rate. That way they pay the saver a lower rate of return and then make their profit.

So if lending standards are tightened then they can’t lend out as much money due to fewer people qualifying. Then they would have to keep the savers rates lower than in good lending times. IMO.

[HarryBosch]

I cant say I have any insight but I can provide one story.

My nephew and his wife recently purchased their first house in Orange County a month ago. He works, has a degree and makes maybe $50K-$60K/year. His wife is working on her masters and is not working. They have no debt.

But in order to buy their first-time home ($320K house) they had to have his parents as co-signers on the loan. I’m sure they did not put 20% down – something much less.

I suspect there will be more co-signers for first time home buyers as we go forward. Unless prices continue to drop to the point that co-signers are not needed.

[HarryBosch]

I cant say I have any insight but I can provide one story.

My nephew and his wife recently purchased their first house in Orange County a month ago. He works, has a degree and makes maybe $50K-$60K/year. His wife is working on her masters and is not working. They have no debt.

But in order to buy their first-time home ($320K house) they had to have his parents as co-signers on the loan. I’m sure they did not put 20% down – something much less.

I suspect there will be more co-signers for first time home buyers as we go forward. Unless prices continue to drop to the point that co-signers are not needed.

[HarryBosch]

I cant say I have any insight but I can provide one story.

My nephew and his wife recently purchased their first house in Orange County a month ago. He works, has a degree and makes maybe $50K-$60K/year. His wife is working on her masters and is not working. They have no debt.

But in order to buy their first-time home ($320K house) they had to have his parents as co-signers on the loan. I’m sure they did not put 20% down – something much less.

I suspect there will be more co-signers for first time home buyers as we go forward. Unless prices continue to drop to the point that co-signers are not needed.

[HarryBosch]

I cant say I have any insight but I can provide one story.

My nephew and his wife recently purchased their first house in Orange County a month ago. He works, has a degree and makes maybe $50K-$60K/year. His wife is working on her masters and is not working. They have no debt.

But in order to buy their first-time home ($320K house) they had to have his parents as co-signers on the loan. I’m sure they did not put 20% down – something much less.

I suspect there will be more co-signers for first time home buyers as we go forward. Unless prices continue to drop to the point that co-signers are not needed.

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