August 19th, 2011 11:57 PM by Eric Fang
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 businesswhich 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 marketleaders.
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 cancelan 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 valuefrom 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 saledata will be different. So the value could be different.So I offered that if the value is indeed lower, I would pay2/3 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 fixedrate, some bolded predicted 30 yr fixed 2.xxx. This is actuallynot a good thing. But 3.xxx is very likely. And I will tell youwhen we will see this rate one month later(after I finishthose huge loan valumes now)