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#1
08-02-2007, 07:59 PM
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PSA: All major mortgage lenders are freaking out today
Quick PSA:
If you are in the middle of any sort of refi or purchase, I suggest talking to your source to make sure they locked your rate/program. The secondary market has pretty much frozen up and the lenders are freaking out. -Andrew 
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#3
08-03-2007, 12:45 AM
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Re: PSA: All major mortgage lenders are freaking out today
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#6
08-03-2007, 01:53 PM
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Re: PSA: All major mortgage lenders are freaking out today
greenpoint changed their base pricing on their HELOC's today from par (0 pts) to a 10 pt buydown. That means if you want to get a 100k heloc, it would cost you 10k. haha, crazy.
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#7
08-04-2007, 01:50 AM
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Re: PSA: All major mortgage lenders are freaking out today
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#8
08-05-2007, 11:01 PM
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Re: PSA: All major mortgage lenders are freaking out today
[ QUOTE ]
Quick PSA: If you are in the middle of any sort of refi or purchase, I suggest talking to your source to make sure they locked your rate/program. The secondary market has pretty much frozen up and the lenders are freaking out. -Andrew [/ QUOTE ] Loan sharks are doing a great business.
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#9
08-06-2007, 12:38 AM
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Re: PSA: All major mortgage lenders are freaking out today
[ QUOTE ]
greenpoint changed their base pricing on their HELOC's today from par (0 pts) to a 10 pt buydown. That means if you want to get a 100k heloc, it would cost you 10k. haha, crazy. [/ QUOTE ] that's not what it means... it means you'll have to pay 1% in fees or rate... not 10% in fees. Things are still OK with several lenders including Wells, Citi, WM, and B of A. The companies that are hurting are the ones that were doing a lot of speculative lending in the secondary market, sub-prime, and no money down low-doc transactions.
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