Posted by Moishe Alexander Benchmark bank-to-bank dollar funding costs set another record low on Wednesday while sterling rates edged lower on the firm view that central banks will keep extraordinary fiscal stimulus measures in place well into 2010. London interbank offered rates for three-month dollars fell to the lowest level ever at 0.26906 percent USD3MFSR= while equivalent sterling rates edged down to 0.61250 percent GBP3MFSR= from...
Moishe Alexander Lending Blog
Learning about the Lending Process
The process of getting a loan can be fraught with danger. Fraud and scams can be avoided by due diligence and learning. But the lending process can be a positive experience and can help people achieve their dreams. My wish is that this site will help you past the hiccups and pitfalls to a place where getting a loan will be a happy experience.
Archive for Mortgage Loan
GMAC was formerly the finance arm of carmaker General Motors Losses at finance group GMAC have risen by more than a half after bad debts increased at its mortgage business. The company reported a loss of $3.9bn (£2.3bn) between April and June, up 56% on the $2.5bn loss it made a year ago. The loss included a $1.2bn charge related to the firm's conversion from a partnership into a public company. GMAC has...
Moishe Alexander dug up this excellent video on mortgage fraud by Jim Cramer who has been hollering about abuses in the industry that have led to the mortgage market meltdown. So much of it stems form loan fraud. Buyers, Investors, Mortgage Companies, Appraisers all have a hand in it to some degree. If they didn't there wouldn't have been such a thing as a mortgage market meltdown. Jim Cramer should continue his rantings until everyone...