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Name: Brian Brady
Nickname: FB_726557037
Member since: 2009-02-14 11:20:33
Website URL: http://www.facebook.com/profile.php?id=726557037
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No Big Rate Surprise with the FOMC

June 25th, 2009 at 6:28 pm

My definition of par is, as you quote, a 1% origination fee with no discount points. I think we’ll actually get down to 5.0%, in July before we pop back up to the high 5s. After July, I think “par” will be between 5,25%-5.75% through Christmas…

…I guess. Who the hell really knows anymore?

No Big Rate Surprise with the FOMC

June 24th, 2009 at 7:52 pm

What’s your take by August ?

5% or 6% par conforming rates?

Mortgage Rates on the Move Up Today...way up.

May 27th, 2009 at 9:42 pm

“Based on this historical data, a Ten Year yield at 3.7% suggests a 30 year mortgage rate of around 5.6%”

I think the problem with the analysis on CR was that historical spreads relied on an implicit rather than explicit gov’t guarantee of mortgage-backed securities. It should make sense that the spread should narrow.

Of course, that guarantee, explicit or implicit meant something…

… once upon a time

Are Loan Originators at Bank Home Loan Centers in Jeopardy?

April 1st, 2009 at 9:01 am

“If the broker industry wants to start cleaning itself up, the 1099 independent loan originators who are operating with zero oversight by their broker would be the first on my list to scrutinize.”

I”ll throw you a complete surprise, Jillayne. License EVERYBODY who touches a federally backed or insured loan program; originators, processors, underwriters, etc. (bank or broker)

Redfin Circles Back to an Old Biz Model...

February 14th, 2009 at 3:32 am

Firstly, let me thank Rhonda for her participation in BHBU, and all the RCG ladies for their participation today in the Group Blogging Roundtable at REBarCamp. It was a delight to meet Deborah and Courtney.

Ardell was her usual dynamic self and an asset to the session; I’m certain that I’ll moderate an “Ardell Unplugged” session, one day, and thousands will be there.

“Still, Dustin, if the agent’s willing to give 30% to Redfin, why wouldn’t the consumer just deal direct with an agent and negotiate the whole 30% instead of 15%?”

Could consumers value the 15% “cost” to have Redfin pre-screen agents and maintain consumer satisfaction ratings, Ardell? I’m not convinced that it’s all about price.

Steve Crossland keeps referring to Redfin as a discounter yet Glenn Kelman stated in our discussion that Redfin has never negotiated a commission (which, by NAR’s repeated reminders, ARE negotiable).

Having stated that, I believe that Steve’s observations about Redfin’s model begs them to raise their fees. Redfin builds value to “its” consumer audience through it’s data-rich website. Glenn should survey more to see just how important his “fee advantage” is to his customers.