Mortgage Industry Trends

I was talking with Don Greitzer of the Freedman Report, and he mentioned he had read an article on MSN about how this is a cycle that we're going through is just like 98, and when all is said a

As reported by the sleuths over at National Mortgage News. I'm not surprised.

Peoples Choice has just requested that the SEC withdraw its early

Evidently, the sales force at New Century was so extensive, that the territory split might be determined by the floor within a building. New Century funded a boat load of loans.

Evidently, Accredited is being squeezed by investors. They delayed filing their 10k because of their acquisition of Aames. They're considering whether to write down the value of Aames or not.

I was on a webinar the other day put on by Deloitte & Touche on non prime lending, and it seems the top question asked by other attendees is when would it be evident that the worse was over.

Bloomberg is reporting that New Century's creditors have asked for accelerated payments.

This 'Going, Going, Gone!' blog is just getting too busy for me to keep up with.

That is what the WSJ is reporting, that outside of Morgan Stanley who ponied up cash, their other investors have asked them to stop funding loans.

Holy Smokes- you ain't seen nothing yet.

Who would have thought New Century could be poised on the precipice of non-existence?