Loan Think

Did you know that Veterans Affairs loan assumptions are not restricted to veterans who have VA eligibility? Anyone can assume a VA loan if they meet the occupancy, credit and income requirements set forth by the VA.

It would appear that with two mortgage insurance firms recently being forced to pull the plug on the writing of new policies the outlook for the sector would seem grim. But according to Federal Housing Finance Agency director Edward DeMarco, MIs are needed, now more than ever.

Fortunes are made when fear runs high. Yesterday MBS co-inventor Lew Ranieri and renowned mortgage bottom fisher Wilbur Ross announced they are buying Deutsche Bank's multifamily lending division. On CNBC today Donald 'The Donald' Trump said he's been buying commercial properties in the U.S. for cash.

More Americans are using remote work arrangements, such as working from a home office these days, while survey data shows support either arguments—that these arrangements are more productive or they are productivity killers.

FACTS

Does the Federal Housing Finance Agency have the right to change credit standards? That appears to be one argument MBS investors are making against a massive government-backed refinancing program being contemplated by the White House.

It seems as though the Mortgage Bankers Association, the nation's premier trade group for firms that actually fund loans, has pulled down the cone of silence on the issue of guarantee fee discounts offered by Fannie Mae and Freddie Mac.

Remember Citigroup's retail-based consumer finance division, which included (from what I recall) branches from the old Associates First Capital Corporation? Lately, we haven't heard much about the unit which previously was called CitiFinancial.

You've got to look up and out. That is where you build your business. According to world renowned business management author Peter Drucker, "Growth for any company is found outside of its four walls, not from within." That is where you will find the business – outside of your four walls.

How does that old Chinese proverb go? I think it's: May you live in interesting times. Well, it sure got interesting Thursday morning when stocks tumbled almost 400 points on the Dow and the yield on the benchmark 10-year bond hit yet another new low: 1.75%. That's not a misprint.