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The U.S. economy is get worse; the secondary credit markets are having a major impact on the climbing of the rates. Lenders are really tightening up on the lending requirement, even with the Fed pouring billions of dollars of credit into the economy with loan auctions and low interest rates.
One of the problems is a loss of confidence in our market for securitized mortgage loans. The problem is intensifying by the day with the bond investors who have grown leery of the predicament.
“The mortgage finance system in the United States has been badly damaged,” said Anthony Lembke, co-head of investments at MKP Capital Management, which is a hedge fund firm that is a very big investor in the mortgages.
Kirt Eure
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