Mortgage Blog

HP exit PC Market, they don't want to be Me2 Apple,
and they want to be Me2 IBM, hopefully they can be
a very good servicing company.

Those big companies will not keep all those business
which makes money. According to Jack Welch's strategy,
if you are not one of the best 3, they will sell the
business and focus on the area which they are the market
leaders.

For the refinance, I want to share with you a very
interesting Me2 experience. I just had a borrower
cancelled his loan application(the rate was good),
and the reason is that his neighbor's value is low.
It's my first time to hear such a reason to cancel
an application, though most likely I will not do the
loan with him in the future.

Even the two house have the exact same models, the value
from different appraisers may be different. Since one
appraisal was already done, and another not even started,
the comps will be different. At least for one month sale
data will be different. So the value could be different.
So I offered that if the value is indeed lower, I would pay
2/3 of the appraisal, this offer was rejected, as expected.

For my mortgage experience, I never want to be a Me2 agent.
I want to find something that I am the best. So here I am.
I am one of the few who has ample knowledge of the market,
the industry. When we "see" the trend of rate going up or
down, we should know why.

To share with you some interesting prediction for 30 yr fixed
rate, some bolded predicted 30 yr fixed 2.xxx. This is actually
not a good thing. But 3.xxx is very likely. And I will tell you
when we will see this rate one month later(after I finish
those huge loan valumes now)