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Originators react to taper news

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Mortgage Professional America | 18 Dec 2013, 12:54 PM Agree 0
While many originators aren't thrilled with the timing of the taper, it's not the end of the world
  • Bayview Mortgage Inc | | 18 Dec 2013, 01:27 PM Agree 0
    Rates go up and they go down. When the banks want to bring more business in. they will lower the rates for a few hours. Most banks are sitting on so much cash. they don't need fannie and freddie
  • John C Durham | | 18 Dec 2013, 02:01 PM Agree 0
    Even stories about "money" aren't about money. 

While Franklin cautioned against "too little money" we are fearful of "too much money".

    Free credit is the physical manifestation of Faith. Treasury could print all the money it wanted to print and give away at '0' interest. The proof that giving money to TBTF banks doesn't do anything good or bad, including lead to "Hyper-Inflation", even when we find out the FED has given them $26Trillion since '07. Also, the fact that this exercise only moved a group of figures from one set of books to another has now been proven, ie, there was NO EFFECT anywhere on anything from doing QE!

    Let me tell you the deepest darkest Economic Secret: if every person who WAS already, or COULD BE made to be, more PRODUCTIVE through ABUNDANT FREE money is actually ever given that money for productive purposes, a greatly destructive MYTH about money would be gone FOREVER. Money given toward everything truly GOOD FOR human beings, given in amounts LIMITED ONLY by the capacity for borrowers to spend that FREE CREDIT wisely, such an act would double the LIVING STANDARDS in 24 months...again in 72 months...again in 120 months...and so on...and so on...

    Free money put into the hands of GOOD PEOPLE, used only for GOOD PURPOSE creates more value that the GOLD, SILVER, et al, value of money by current financial systems. The only real SECRET is HOW TO DO MORE GOOD with money instead of being so, so dumb as to give one dime to a TBTF BANK.
  • Greg Cook | | 18 Dec 2013, 02:58 PM Agree 0
    Refis are off 60% and new mortgage applications hit their lowest level in 12 years. Maybe there has been an increase in private money investment and the reduced amount is all the market needs?
  • John C Durham | | 18 Dec 2013, 05:10 PM Agree 0
    Don't think its the "Market", Greg. We are several million units short of real demand right now, counting under and unemployed families living in tents and with their Mommies, Relatives or Friends.

    So, it's might be we are short just ONE "Financial System", don't you think. Maybe, there's a shortage of Credit going to the Right Place? Maybe, because of the Credit shortage, there is even a shortage of JOBS?

    Maybe, at some point you might take a look at something we can ALL SEE, other than the Hand Invisible. Maybe we should be breaking up some Banks and locking up some TBTF Bankers? And, maybe we should reestablish a real financial system by bringing back Glass-Steagall to the Banks!
  • Keith Howell | | 19 Dec 2013, 05:39 AM Agree 0
    Supply and Demand. Inventory is extremely low right now so of course applications are going to be extremely low. Coupled with the fact that most everybody has already refinanced with the rates also higher now, refinance applications are also at all time lows.
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