UW and API products; FHA/VA/Ginnie Updates; DACA Policy

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Posted To: Pipeline Press

Chris Whalen notes, “The failure of Bear Stearns & Co a decade ago illustrates the key lesson of financial markets, namely that non-banks are dependent upon 1) banks and 2) clients for liquidity. And no amount of capital will save a non-bank that has a deficit in terms of confidence. In times of market stress, credibility and character are far more important than capital.” On the flip side, Angelo Mozilo famously observed that a liquidity crisis will take a company down faster than anything. Any questions? IndyMac’s Mike Perry had a statement on his blog yesterday titled, “ Not Too Big To Fail: Mike Perry talks about IndyMac Bank and the financial crisis ten years on .” FHA/VA/Ginnie News First off, anyone hoping for a mortgage insurance premium cut this year…(read more)

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