Mortgage Industry Trends

On the heels of the Bank of America announcement that they are going to acquire Countrywide, there is a flurry of announcements and transactions.

Wachovia, PHH, Citi, Fannie Mae and Indy Mac all reported negative news this week. As the mortgage meltdown continues to unfold, the damage assessment among the nation’s firms is not pretty.

The fallout from the subprime meltdown was felt by investors as several of the players provided earning guidance.

The distance between shockwaves from the nonprime meltdown seem to be slowing down.

Good news around the US Mortgage Market is trying very hard to make its way back into the headlines. This week the Fed cut interest rates by 50 bps which set back the bear market fans.

MarketWise Commentary
Week of Ending September 15, 2007

MarketWise Commentary
Week Ending September 7, 2007

The mortgage market continues transform before our eyes.

Overall, this was a calmer week for the mortgage industry. The Fed cut of rates to the discount window which brought heavy borrowing and some liquidity back into the secondary market.