Recent Posts At Straight Talk

• The Fed – Translated…. March 16, 2010
  What the Fed Said Last Time What the Fed Said This Time What Difference does it make….. Information received since the Federal Open Market Committee met in December suggests that economic activity has continued to strengthen and that the deterioration in the labor market is abating. Information received since the Federal Open Market Committee met in January […]
  Sean Vault
• The Latest Problem with Employment Verifications March 16, 2010
  Are you sick and tired of the lack of straight talk in the mortgage world?We are.   That's why we write here - even though we have to do it under a pen name - because our lending institutions don't like it......If you want to work with someone who will tell it to you straight, [...] […]
  Sean Vault
• More on Mortgage Delinquencies and the Shadow March 16, 2010
  I got this chart from my friend, Paul Jackson, over at Housing Wire. A couple of points that stand out on the graph: The number of 150+ day delinquencies is up substantially, like by 400%? The rest of the categories are up but not nearly as high. That says to me that we’re seeing a transfer of the [...] […]
  Sean Vault
• New Underwriting Guidelines March 16, 2010
  I just received these new underwriting guidelines by e-mail.   It didn’t say when they are effective…… NEW UNDERWRITING UPDATES All borrowers’ birth certificates will be required with pictures taken in the hospital with medical staff. Birth certificate with a live home delivery will not be eligible for first time home buyers. Marriage certificate with bridal […]
  Kenny
• The Fed Funds Rate and Mortgage Rates March 16, 2010
  Okay, we’ll be talking later today about what the Fed does and what it means.   I thought I’d share a chart that a friend of mine, Dan Green, pointed out to me.   What does it mean for mortgage rates?   Plain and simple: There is no direct link between mortgage rates and what the Fed controls. Technorati Tags: [...] […]
  Kenny
• Housing Starts – When Up is Down March 16, 2010
  Yeah, you heard that right.   Compared to February of 2009, housing starts were up.   Compared to January of 2010, housing starts were down.   Compared to what the market expected, housing starts were “less down.” You’re going to hear a lot of it blamed on bad weather.   I’m not so sure I buy that as being that [...] […]
  Sean Vault
• Housing Double Dip? March 16, 2010
  Meredith Whitney thinks so.    Listen to what she had to say on CNBC this morning…….   Are you sick and tired of the lack of straight talk in the mortgage world?We are.   That's why we write here - even though we have to do it under a pen name - because our lending institutions don't [...] […]
  Sean Vault
• The Big Short – Michael Lewis – Thoughts on the Future….. March 16, 2010
  Watch CBS News Videos Online Are you sick and tired of the lack of straight talk in the mortgage world?We are.   That's why we write here - even though we have to do it under a pen name - because our lending institutions don't like it......If you want to work with someone who [...] […]
  Sean Vault
• The Big Short – Inside Wall Street’s Collapse Part 1 March 16, 2010
  Watch CBS News Videos Online Are you sick and tired of the lack of straight talk in the mortgage world?We are.   That's why we write here - even though we have to do it under a pen name - because our lending institutions don't like it......If you want to work with someone who [...] […]
  Sean Vault
• Known Unknowns – Huh? March 16, 2010
  The CEO of PIMCO (the largest bond investor in the country) did an interview on CNBC this morning.   I’m going to attempt to translate what he said…..  (My comments are in bold) Investors should be holding healthy levels of cash in order to take advantage of "known unknowns" that become clearer as the economy evolves, Pimco’s [...] […]
  Sean Vault