From today's Rob Chrisman email. Clearly the change in pricing coming down the pipe is starting to wake up most of us originators. Frankly, this is no different than a business increasing prices to improve margins or cut losses. But in this case, since the government is there to prop up the market I am failing to see the point...Unless you read below.
Some Wall Street MBS analysts believe that it is likely that the g-fee needs to increase by another 15-45bp over the next two years (on top of the 10bp increase) if the FHFA changes g-fee level such that it reflects the risk of loss as well as the cost of capital allocated to similar assets by other fully private regulated financial institutions as required by H.R. 3630. The analysts note that conventional securities could be worth .375-.625 more because of g-fee increase's impact on current production, and older securities could be worth 1.5-2.0 points more since it will be more expensive to refinance, so fewer will do it, meaning that the securities are on the books longer.
Thursday, January 19, 2012
Tuesday, January 17, 2012
Tool....What can you say. There is something about this etheral metal band that calls to me. Although highly riffed based dark metal sounds abound, the music moves like a classical piece. The guitars soar and the vocals are hauntingly beautiful thanks to Maynard.
If you never listened to Tool you owe it to yourself to have a taste. Required listening songs include, Prison Sex, Parabola, Undertow, The Pot, and more. Play it loud whenever possible
OldNewTogether
I like metal, and I like jazz. I like classical and I like punk. I like country and western, sometimes know as the only two kinds of music. I play the blues and dance to pop. If you like music like me, you'll like my recommendations and required listening lists.
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