Thursday, September 20, 2007

Mortgage rates go up twice today.

As expected, the FED drops rates; then the dollar drops like a rock and interest rates rise.

Dollar is in the crapper compared to the Canadian and European currencies. Oil at an all time high and gold keeps going up. Meanwhile all of wall street makes out big time and the little guy gets to spend $100 to fill up his tank.


From today's Brokers Outpost:

What caused rates to go up twice today.... they are MUCH worse than before
the Fed even cut the rates....

26 comments:

Funny Circus Bears said...

Tuesday we got our ice cream, today we began the process of slowly getting our tonsils removed.

Funny Circus Bears said...

Despite the coventional wisdom, I can't say this often enough: Maintain your USD shorts.

Perfect Storm said...

That's right mortgage scum the Fed cutting rates did not do a dame thing to help you hold onto your crappy liar no good bullshxx conning poeople out of money job. Anybody who peddled subprime is just plain scum.

You better get in line at the strip bar and try out for pole dancing and maybe some drunk will pitty you and give you a nickel.

Perfect Storm said...

This is what one of your loan whore buddies had to say about the fed rate causing the mortgage rates to keep ging up.

"I wanted to lock a rate on a conditional approval this morning. It's a short-sale and I know the loan amount is going to change. I called my AE to ask if I could
lock the rate without knowing if the loan amount will remain the same. She didn't call me back...all I needed was a "Yes, you can lock even if the loan amount will change" (I didn't know)
Anyway, because my AE didn't return my call, I lost about $600 after the rates worsened this afternoon".


All you loan whores better get that pole dancing practice in now.

Realestateslasher said...

Govies, what will we do without them?


I know.... get busy doing Govies
or get busy going broke!

FHA! All in favor, say yeh!

Ichabod said...

CRISP REAL ESTATE STING FALLOUT:

Before Crisp's offices were raided last week, the total inventory for that office was 55 listings.
Monday this week: It was 47.

NOW... It is 36! Sorry, properties are not selling that fast! Cancelled or expired listings!

Ichabod said...

CRISP REAL ESTATE STING FALLOUT PART 2:

Crisp real estate had 12 total REALTORS before the sting.

Now... it is 7.
That includes Jeriel Salinas, who spends his extra time stealing street signs with his brother. Lindsay Roberts left (she was the "big hitter" with 36 listings at one point).

Ichabod said...

CRISP REAL ESTATE STING FALLOUT PART 3!!!!!:

26 Listings! They lost 10 listings in less than two hours!

Crisp Office is C-L-O-S-I-N-G-!

scotty said...

Hey Ichabod
Maybe the 21 listings lost were really homes where nod's were filed. I hear all of C&C's listings are properties that they or their straw buyers purchased.
And Ichabod where is my FBI guys phone number?

Ichabod said...

scotty said...
Hey Ichabod
Maybe the 21 listings lost were really homes where nod's were filed. I hear all of C&C's listings are properties that they or their straw buyers purchased.
And Ichabod where is my FBI guys phone number?


~~~

(916) 977-2245

You two have fun!

Ichabod said...

BYE BYE CRISP REAL ESTATE:

23 Listings now.

privateeye said...

Ichabod-Did Crisp's inventory drop from 36 to 23 today? I think he/she (Scotty) was looking for a local phone number. LOL

Ichabod said...

privateeye said...
Ichabod-Did Crisp's inventory drop from 36 to 23 today? I think he/she (Scotty) was looking for a local phone number. LOL

~~~

Yes it did. I checked the total listings right before each time I posted. As of 4 pm it's at 23 listings.

Bakersfield Bubble said...

NEW Updates @ Bakersfield.com (too busy to do a new post:

Carl COle lawsuit

Chronicle of a Flip, er... FLOP

Ichabod said...

The article on how they flipped properties is even more interesting:

http://www.bakersfield.com/hourly_news/story/242155.html

Ichabod said...

Points West is closing too. Agents there are going after other places to work. Points West should be officially closed Monday.

Anonymous said...

The community is finally discarding Carl and David like the medical waste that they are.

Perfect Storm said...

"like the medical waste that they are".

Medical waste implies they did some good before they were discarded, I perfer the term just pure shxx.

Oh by the way Cole have fun paying your minimum payment of $79K credit card bill you deadbeat punk. Just because your old does not mean you are not just some punk.

Lurker said...

I love how the "Flip" article says at the end "Californian Analysis." Ummm...looked to me like they just summarized documents...maybe we define analysis differently?

beta said...

Atlanta mortgage broker gets 28 yr sentence for fraud.

http://tinyurl.com/2mn3ko

There's hope for Crisp yet!

Open Wide Baby said...

What's up with those NASTY Points West listings shown on their website.

Maybe they could get Tu Crispy to take the whole bunch for 140% of list with 110% Tower loans.

Anonymous said...

Bakersfield.com has recently done some very good reporting on this.

We know approximatley how much they borrowed and defaulted on, but do we know how much cash they put into their pockets on these deals?

burnt2acrisp said...

Check today's Californian. They pull it all together and name names. Lots of sales to "Aiden, Logan". I hope Aiden and Logan don't have their credit ruined for life.

brass balls of bakersfiled said...

The dollar is toast.Good luck as the sh@t we import from the chinamen skyrockets and oil goes to 100.Thank you for screwing us minions mr bearnake.Wall street is going to tank as the morons wake up and figure economics 101.I am going to wipe my @ss on a fresh dollar bill tonight.

Perfect Storm said...

Broker sentenced to 28 years for mortgage fraud in Atlanta:

The sentencing came six months after a jury found Hill and nine others guilty of the scam. They used "straw purchasers" to obtain loans on properties where corrupt appraisers had inflated their values, a fraudulent transaction known as a "flip." The "straw purchasers" were then paid in kickbacks out of proceeds from the excess loans.

Wow does this situiation sound familiar, lets see that Crisp and Cole do this type of business, I wonder if what they do and what this guy did is the same, it sounds like Crisp and Cole may be going away for a long time.

burnt2acrisp said...

Californian ran a story about Lennar Homes cutting back. The BC apparently picked up a hint/rumor from out of a local Ticor newsletter.