Trading is still on hold. IndyMac announced profits and it isn’t looking so hot. But it seems the markets are already expecting Alt-A lenders to go down. Probably the reason the market is holding up. Now if FNM and FRE, then we might see some movement.

@steve,

Data is readily available for California in terms of mortgage products. In August of 2005 70+ percent of loans originated in California were adjustable. Tack this on with local income information and you may have a mortgage matrix. I haven’t seen a chart fusing the two.

@chris,

Appreciate the comment. The benefit of being in a place like Dallas is housing is fairly priced. Instead of worrying like most people in overpriced areas, you can expect continued modest appreciation or if the worst hits, maybe a slight decline.

Easy come easy go here in the west.

@rob dawg,

If you can keep us posted on the property that would be great. No doubt the place looks nice. From the article they seemed poised on moving out of the state and selling their home at a peak price. Like you’ve stated, most folks that own bought long ago. I’d be curious to see what their place eventually sells for (or if they decide to stay put).

Trading opened and AHM is getting creamed:

Down 89% and trading at 1.15. Total market cap is now $63.5 Million. Big difference from the $500+ million just last week.

This on news that it will be unable to fund loans. Credit crunch.

Check out ABC on the loanofficersforum.

[I had 4 loans signed and pre funded. Today i found out that ABC is up for sale to the biggest offer. Thats just straight up bull****. They reversed all the wires that were supposed to go out today. I dont know how banks can just screw borrowers out of there loans. I have four very angry borrowers now with 30 day lates. I would never ever ever use ABC for anything ever again.]

[We have a loan with ABC that was SUPPOSED to fund yesterday and the wire never got to the title company. We called ABC last night after being on hold for almost an hour a lady from the funding department got on the phone. She said she did not know if the loan was going to fund because she didn’t even know if she would have a job tommorrow!!!! She then asked if we could say a prayer for her. It really is a sad situation for the company and everyone who has loans with them that are supposed to fund.]

Full load of commentary from pissed off loan folks here:
http://forum.brokeroutpost.com/loans/forum/topic.asp?TOPIC_ID=147343&whichpage=1