FB: Liberty League

[Regulator]

they are hammering the long bond and w/ fed loosening rates are going thru the floor only caveat this time is w/ credit crunch the underwriting standards are much more difficult this time around. pbr just talked to his friend at the local bank and he is getting jammed w/ mortgage refi's good time to do if you can llpp....

yep.  good call.  tgp has been meaning to look into a 30 yr.

Reg was presented a 15yr 4.875% mortgage a few weeks ago.
1 origination point

My new etrade complete savings account was just reduced from 4.9% to 4.40%.  Still much better than alot of things out there.  Especially the "bullish" portfolio my FA had me in.  Reg is going to run the numbers at CoB today to figure out how much I would have been down if I didn't pull out when I was even.

[Senor RedTackle]

6pm EST

www.blogtalkradio.com/thinktankradio

[labart96]

6pm EST

www.blogtalkradio.com/thinktankradio

sounds good RT.  a couple technical things that could be tweaked (couple times when multiple guys are talking the audio got a little fuzzy).

[JQV]

This is like all the fun of LLPP without the hassle of reading.

Nice work RT.  +k.

[Senor RedTackle]

"i like cufflinks and hip hop...am I allowed to speak??"

[Regulator]

"i like cufflinks and hip hop...am I allowed to speak??"

Good stuff RT....that 60 mins goes quick.  I am sure you will have a bunch of callers next week that will chime in.

Congrats

[Tags]

Sorry Tags missed it RT - work duty called. Will try & catch it the next time around.

[Tags]

they are hammering the long bond and w/ fed loosening rates are going thru the floor only caveat this time is w/ credit crunch the underwriting standards are much more difficult this time around. pbr just talked to his friend at the local bank and he is getting jammed w/ mortgage refi's good time to do if you can llpp....

yep.  good call.  tgp has been meaning to look into a 30 yr.

Reg was presented a 15yr 4.875% mortgage a few weeks ago.
1 origination point

My new etrade complete savings account was just reduced from 4.9% to 4.40%.  Still much better than alot of things out there.  Especially the "bullish" portfolio my FA had me in.  Reg is going to run the numbers at CoB today to figure out how much I would have been down if I didn't pull out when I was even.

Ok, Tags has a question for his fellow economists here in the LLPP. Tags obviously sees rates trending down, with a potential for another1/2 pt cut at the next Fed meeting --- Tags would like to inquire about snagging a house w/ a nice fixed rate, the question is how steep would the first time buyer risk premium hurt?

[Touchdown Tommy]

Reg you punk.  TDT listened and will be calling in next week to address a few issues.  Call it the 'LLPP Unplugged'...

Great show RT.  In the future, when you call in may TDT suggest you say hello this is "Joe from MD, aka Reguhator" for instance.  Or "James from Cali, aka The Great Pumpkin".  RT even got Frank da Tank outta his offseason hibernation.

"The dogs are humping in the mancave"...

[labart96]

they are hammering the long bond and w/ fed loosening rates are going thru the floor only caveat this time is w/ credit crunch the underwriting standards are much more difficult this time around. pbr just talked to his friend at the local bank and he is getting jammed w/ mortgage refi's good time to do if you can llpp....

yep.  good call.  tgp has been meaning to look into a 30 yr.

Reg was presented a 15yr 4.875% mortgage a few weeks ago.
1 origination point

My new etrade complete savings account was just reduced from 4.9% to 4.40%.  Still much better than alot of things out there.  Especially the "bullish" portfolio my FA had me in.  Reg is going to run the numbers at CoB today to figure out how much I would have been down if I didn't pull out when I was even.

Ok, Tags has a question for his fellow economists here in the LLPP. Tags obviously sees rates trending down, with a potential for another1/2 pt cut at the next Fed meeting --- Tags would like to inquire about snagging a house w/ a nice fixed rate, the question is how steep would the first time buyer risk premium hurt?

depends on your fico score (ie credit history) and LTV.   these days having more to put down is pretty essential.  the other issue is understanding the guidelines and terms of the loan you are applying for.  guides to which company's underwrite loans aren't fluid but they can change.  rates, pts etc will vary based on the product type as well.

oh yeah, it helps if your loan officer isn't a dirt bag too.

there's an interesting blog you can check out if you're interested:

http://www.behindthemortgage.com/behind_the_mortgage/first_time_buyer/index.html

[labart96]

"James from Cali, aka The Great Pumpkin".  

TGP never met this "James" guy before.  TGP thinks he's an imposter that wears sweaters made in Connecticut.

[PBR...]

"i like cufflinks and hip hop...am I allowed to speak??"

Good stuff RT....that 60 mins goes quick.  I am sure you will have a bunch of callers next week that will chime in.

Congrats

sorry RT pbr got called from work and was jammin away work wise...sounded like it went well...next week all callers are to abuse gro and see if the llpp can shake him out of hibernation

[Senor RedTackle]

"James from Cali, aka The Great Pumpkin".  

TGP never met this "James" guy before.  TGP thinks he's an imposter that wears sweaters made in Connecticut.

AND drives a volvo or Acura

[Senor RedTackle]

http://www.blogtalkradio.com/luck_lue/2008/01/24/whats-hood-about-your-hood

[JT]

they are hammering the long bond and w/ fed loosening rates are going thru the floor only caveat this time is w/ credit crunch the underwriting standards are much more difficult this time around. pbr just talked to his friend at the local bank and he is getting jammed w/ mortgage refi's good time to do if you can llpp....

yep.  good call.  tgp has been meaning to look into a 30 yr.

Reg was presented a 15yr 4.875% mortgage a few weeks ago.
1 origination point

My new etrade complete savings account was just reduced from 4.9% to 4.40%.  Still much better than alot of things out there.  Especially the "bullish" portfolio my FA had me in.  Reg is going to run the numbers at CoB today to figure out how much I would have been down if I didn't pull out when I was even.

Ok, Tags has a question for his fellow economists here in the LLPP. Tags obviously sees rates trending down, with a potential for another1/2 pt cut at the next Fed meeting --- Tags would like to inquire about snagging a house w/ a nice fixed rate, the question is how steep would the first time buyer risk premium hurt?

depends on your fico score (ie credit history) and LTV.   these days having more to put down is pretty essential.  the other issue is understanding the guidelines and terms of the loan you are applying for.  guides to which company's underwrite loans aren't fluid but they can change.  rates, pts etc will vary based on the product type as well.

oh yeah, it helps if your loan officer isn't a dirt bag too.

there's an interesting blog you can check out if you're interested:

http://www.behindthemortgage.com/behind_the_mortgage/first_time_buyer/index.html

Moral of the story.  Get a phat LTV by buying a foreclosure.