In spite of the challenges, mortgage lenders largely welcome the changes. Not one agent interviewed for this article expressed anything but approval that the deceitful lenders will now have a harder time undermining the honest ones. Shane Hulslander of Premier Mortgage Consultants in Florida was able to provide a full-fledged GFE in minutes when asked to provide one. The estimate showed a cost of 1 point, offset by a credit of 1 point — an easy-to-understand entry allowable in Florida. This prevents any APR distortion and is meant to reduce borrower confusion.
"The new RESPA guidelines help everyone that is part of the financing transaction from the title company and the borrower down to the lender/broker," said Hulslander. "I am glad the bait-and-switchers will be slowly weeded out of the industry; they have been giving mortgage professionals a bad rap for way too long. The old bait-and-switch tactic was always a big concern of clients — they have been shown an estimate that looked too good to be true and came to find out at the closing table that it was. You can’t imagine how glad I am to know those days are gone."
January 23, 2011
“Duane was very good at responding to my emails and getting things done. One time, Duane and I were exchanging emails around 7:00pm PST (10:00pm EST) on Saturday and he also answered my phone calls on weekends as well. I would describe him as somebody who gets things done in a timely manner. Also, when a third-party notary came to close the deal, she mentioned “I heard Provident offers the best rates but it is very difficult to close” so I know I received the best deal out there as well”.
Mack Mochizuki
January 10, 2011
Premier Mortgage
Duane,
I want to thank you and the Premier Mortgage consultants for your diligent work.
I have purchased five homes and this was my first re-finance. I could not have asked to work with a better group of people. Also, I want to thank you for working with me on Thanksgiving Day, that was way beyond the call of duty. I had contacted three other lenders on that Wednesday afternoon and you were the only one to get back to me in a hurry. One broker even called me the following Wednesday and apologized for being so late getting back to me. His excuse was the Holiday had put him behind schedule contacting his prospects. If any of my friends are in the market for a loan, I will recommend you and Premier without hesitation.
Bill Prater
December 21, 2010
To whom it may concern:
It was a pleasure working with Mr. Vallie recently! He was always courteous, professional, well informed and provided us with excellent customer service. Many thanks to Mr. Vallie for his help and guidance.
Best regards,
Linda bapst
November 5, 2010
Glenn, I just want to let you know that wast the best closing I have had in my life. You guys have the Lowest Mortgage Rates out there. It was amazing that you had my loan ready to close in 10 days. WOW guess I found my mortgage company for life.
Sincerely, Chris Ball
April 15, 2010
Hi Glenn,
I just want to let you know that was the best experience I have ever had with a closing in my life.
I will be telling all my friends about you. Keep in in touch and good luck with your business.
Sincerely, Dan Howard
November 30, 2009
Hi Jeremy,
I hope you had a relaxing Thanksgiving. I am happy to give feedback regarding our recent refinance with you and your company. I was pleased from the start. You responded in a timely manner to my initial contact and gave me very clear and complete information regarding rates, fees, etc. My husband and I were very satisfied with how quickly and painlessly the whole process proceeded. Thanks again for the great service and we will certainly contact you in the future if the need arises.
Sincerely, JoEllen Gilbert
November 24, 2009
Dear Glenn Midnet,
I am writing this letter on behalf of Shane Hulslander, Branch Manager of Premier Mortgage Consultants who worked on processing our massive paperwork for a mortgage for a house we are purchasing in Venice, Florida. I have not taken out a mortgage in a decade much less in the state of Florida as I have purchased a couple of houses in Texas with cash in the past two years. I had no idea how many documents were required or how “challenging” and lengthy the process would be to obtain a mortgage.
I owe the entire success of obtaining a mortgage to Shane! I was extremely blessed to work extensively with Shane from the very beginning of the purchase when I located the Premier Mortgage Consultants on a generic website for mortgage loans. I did call several other companies but he was the most expedient to reply and the most polite and patient with all of my millions of questions.
For each step of the way, for four weeks, Shane answered my numerous phone calls and e-mails almost as quickly as I could send them. He was exceptionally courteous and your company is so fortunate to have such an excellent person to work for you, as he absolutely incredible at his job!
I have taught thousands of college students over the last 12 years and believe me they could take a course from Shane on positive costumer service and communication skills (and I am in the department of Communication Disorders at Texas State University). In fact if I could have seen his face, he actually may have been smiling because he was so friendly. I really appreciate how much time and energy Shane put forth as I was purchasing a home for sale from owner and there was no realtor involved to help me.
I am writing this letter to let you know that Shane is one incredible person and a super competent individual in your company. Shane gets an A+ in my grade book for all of his hard work and dedication. He is an outstanding employee and an amazing asset for your firm.
Sincerely,
Therese Kosary-Keith
5.0/5.0
Closed with lender
I can’t say enough good things about Shane Hulslander who works with Glen. We hit a hurdle when it was discovered that we needed flood insurance. FEMA maps changed in 2002 – if you’re anywhere near water – ours is just wetlands – you might want to check this right now. Shane hung in there through it all and we managed to close the loan pretty much on schedule with no additional fees, despite a general hike in rates. He’s a PRO – give them a call. You’ll be delighted with the customer service at Premier.
WOW !!! Shane and Glenn were Awesome to work with. I gave them the quote I got from my credit union and the blew it away. We are closing Friday I’m going to recommend my family to use them.
Amazing how fast the quote came in. Very friendly and knows his stuff. They will beat anyones deal out there. I sent them a GFE of another company and they broke it down and explain everything to me so I could get the best deal out there.
Kathy Sheppard(08/29/2009)
5.0/5.0
It was a great pleasure to work with Gary on the refinance of my home. He was very informative, didn’t push, and walked me through the entire process. He was extremely professional at every phase of the process. He locked in a rate quickly that saved me money. I would highly recommend Gary, and if I need his service in the future, I would not hesitate to call on him again.Look no further. Gary is as good as you’ll find and can get you the very best rate.
Thanks Again,
Stan Barber (09/21/09)
Mortgage & Bond News
Bonds yields fall on Libyan unrest
Click the chart for more on bonds.By Julianne Pepitone, staff reporter February 22, 2011: 1:54 PM ET
NEW YORK (CNNMoney) — Bond yields have been exceedingly low in recent weeks, and the turmoil roiling the Middle East and North Africa sent them even lower Tuesday.
Civil unrest in Libya has entered its eighth day, fueled by protestors against dictator Moammar Gadhafi’s 42-year reign and high unemployment.
Pro-democracy protests have rippled through Bahrain, Iraq and Tunisia as well, following the political protests that have continued in the streets of Egypt since January 25. Political unrest tends to send bond prices higher, as investors look for safer investments.
"It’s about the unrest, the fear of instability," said Bill Larkin, portfolio manager at Cabot Money Management. "If Gadhafi goes, then what’s next? What replaces these governments?"
World financial markets felt the blow, with stocks falling in the U.S. and across Asia, and markets in Europe under pressure.
Beyond the Middle East, investors were also digesting a raft of domestic data released Tuesday.
Consumer confidence, as measured by the Conference Board’s monthly index, rose to a 3-year high in February. But national home prices fell 4.1% during the last three months of 2010, compared with the same period the previous year.
"In housing, things are still sort of in that dire zone, still weak," Larkin said. "But that could solve itself over time. One plus of low bond yields is that mortgage rates will stay low."
But those low yields make it difficult to attract investors to Treasuries, Larkin said.
"It’s very tough to find a reasonable return in the bond market right now," Larkin said. "You can buy a corporate or a muni bond with a historically lower default rate, and get a higher yield. You’ve got to look all across the fixed-income market to seek out the opportunities."
What yields are doing: The 30-year yield fell to 4.60%, the 2-year yield ticked down to 0.55% and the 5-year yield dropped to 2.14%.
The 10-year note’s yield was at 3.46% in afternoon trade, down from 3.59% late Friday. The bond market was closed Monday in observance of Presidents’ Day.
NEW YORK (CNNMoney) — Junk bonds have had a stellar couple of years, and it’s not over yet.
Investors have poured almost $72 billion into the high-yield bond funds since the start of 2009, according to EPFR Global. And that has driven junk bond yields to near record lows.
The average yield of bonds included in the Bank of America Merrill Lynch High Yield Master II Index stood at a whopping 19.5% at the start of 2009. Since then it has dropped to 6.98% — just a stone’s throw from the record low of 6.86% hit in December 2004.
Though that seems to suggest that the high-yield debt market is too expensive, experts say ‘not so fast.’
"Yields are low, but you have to take a step back and also look at spreads, which is the premium that high-yield bonds are trading at relative to risk-free Treasuries," said Sabur Moini, portfolio manager of the Payden High Income Fund (PYHRX). "If you do that, you’ll see that you’re still being compensated well for holding high-yield bonds."
Though the spread between junk bonds and Treasuries is narrower today, at about 444 basis points, than the historical average of 525 basis points, investors still find it appealing.
"The Federal Reserve’s policies have created a low interest rate environment, and rates are low in virtually every asset class," said Marc Gross, portfolio manager of the RS High Yield Bond Fund (GUHYX). "Investors should consider high-yield bonds on a relative basis, not on an absolute basis."
For example, the spread between junk bonds and Treasuries was much tighter in June 2007, at 250 basis points, when the average junk bond yield was between 7% and 8%.
In addition to having an attractive risk premium, the high-yield market is also much healthier than it has been in the past.
The junk bond default rate now sits at 3.1%, down from 14.6% in November 2009, according to Moody’s Analytics. And it’s expected to fall to 1.9% by the end of the year, thanks to stronger corporate balance sheets.
"The high-yield bond market’s fundamentals are very healthy right now, and they should be for a couple more years," said Payden & Rygel’s Moini, whose portfolio include high-quality credit issued by Chesapeake Energy (CHK, Fortune 500), EchoStar (SATS), Ford Motor (F, Fortune 500) and Cablevision (CVC, Fortune 500).
Moini added that the high-yield bond market is already up more 3% this year, and should return between 7.5% and 8% in 2011. Though that’s not as strong as the market’s 58.2% return in 2009, 15.1% return in 2010, or what you might gain by investing in stocks, it’s enough to make it a good bet.
Warning: Bond market volatility ahea
By Julianne Pepitone, staff reporter
February 17, 2011: 12:38 PM ET
NEW YORK (CNNMoney) — The bond market has been rocky over the past month, and analysts say we’re in store for a rollercoaster ahead.
Investors have a lot on their minds: the deficit, interest rates, inflation and Middle East unrest, as well as continued recovery concerns. And concern is growing that Treasury yields are too low.
"Going forward, the market is going to be more volatile than it’s been in a long time," said Kenneth Naehu, managing director and head of fixed income at Bel Air Investment Advisors.
"The current market isn’t one for people to buy in and then sit there," he added. "You need to be actively watching your exposure."
Traders are starting to look "a year plus down the road," Naehu said, especially for longer-term Treasuries. They’re also keeping a close eye on bond yields.
The 10-year yield had been stuck in a month-long rut below 3.5%, but it has ticked slightly higher over the last two weeks. But the benchmark note’s yield — which affects interest rates on everything from savings accounts to home loans — has struggled to move much higher than 3.6%.
"There have been concerns that yields have been too low for some time now," Naehu said. "Aside from recessionary fears, the market has been concerned that at some point inflation will rear its ugly head."
Eyes on inflation: A key measure of inflation came in near expectations Thursday. The consumer price index rose 0.4% over the month in January, compared to expectations of a 0.3% increase. Core CPI, which strips out volatile food and energy prices, rose 0.2%.
"The bond market is starting to concern itself with what happens later," Naehu said. "Traders are getting worried about the deficit, and they think the current administration’s outlook is overly optimistic."
Investors are also looking to see how the government wraps its quantitative easing plan that was announced last year, in which it will have purchased $600 billion of Treasuries by the second quarter of 2011.
Middle East in focus: Naehu said traders were holding their positions and watching the political protests that have continued in the streets of Egypt since January 25. But pro-democracy protests are starting in other Middle East countries.
Bahrain’s health minister said Thursday that at least three people were killed and more than 200 were injured after security forces stormed an encampment of pro-democracy protests.
In Iraq, nine people were killed and 47 were injured Thursday when protesters clashed with security forces in Sulaimaniya. Surges of dissent have also rippled through Tunisia and Libya.
What yields are doing: The 30-year yield ticked down to 4.66%, the 2-year yield held at 0.65% and the 5-year yield slipped to 2.28%.
The 10-year note’s yield was at 3.58% in midday trade, down from 3.62% late Wednesday.
Bond yields tick lower on mixed data
By Julianne Pepitone, staff reporter February 16, 2011: 12:34 PM ET
NEW YORK (CNNMoney) — Bond yields moved slightly lower in midday trade Wednesday, as investors digested data on inflation, housing and production.
"It’s pretty mixed today," said Kim Rupert, fixed income analyst at Action Economics. "The headline numbers were somewhat bearish, but other data in the reports showed improvement."
The housing starts report was especially mixed: The number of new homes being built rose 14.6% in January, but the number of permits for future housing construction fell 10.4%.
Other reports Wednesday showed the producer price index ticked up 0.8%, and industrial production fell 0.1%.
"We’ve been stuck in a bit of a range, and we need a catalyst to break higher," Rupert said. "Recent data have been mixed, and distorted by bad weather. The market is looking for stronger indications."
The 10-year yield had been stuck in a month-long rut below 3.5%, but it has ticked slightly higher over the last two weeks. Still, the benchmark note’s yield — which affects interest rates on everything from savings accounts to home loans — has struggled to move higher.
Geopolitical concerns have also limited selling, Rupert said. While traders have priced in the political protests that have continued in the streets of Egypt since January 25, they’re maintaining their positions as they wait to see how the situation is resolved.
Traders are also awaiting a Thursday announcement from the Treasury Department about upcoming auctions.
What yields are doing: The 30-year yield ticked down to 4.64%, the 2-year yield held at 0.64%, and the 5-year yield slipped to 2.32%.
The 10-year note’s yield was at 3.59% in midday trade, down from 3.62% late Tuesday.
Pimco’s Gross slashes U.S. debt holdings
Click the chart for bond and rate data.by Ken Sweet, contributing writer February 16, 2011: 4:52 PM ET
NEW YORK (CNNMoney) — PIMCO’s Total Return Fund (PTTRX), the world’s largest fixed-income mutual fund run by well-known fund manager Bill Gross, slashed its ownership of U.S. government bonds last month to its lowest level since 2009.
The move by Gross reflects the comments made by the fund manager a couple weeks ago when he expressed public displeasure with the low interest rate monetary policies of the Federal Reserve, saying it was "robbing" savers and long-term asset holders.
U.S. government-related securities now make up 12% of the Total Return Fund as of last month, down from 22% in December, according to PIMCO’s website.
PIMCO defines U.S. government-related securities on their website as not only U.S. Treasuries but also government agency debt, interest rate swaps, futures and options and FDIC-guaranteed corporate securities.
Two weeks ago Gross wrote in his regular investment commentary that U.K. and U.S. Treasury bonds may need to be "exorcised" from bond portfolios, saying that interest rates were artificially low and there were more attractive investments elsewhere like emerging markets or currencies.
"It is still possible to produce 4% to 5% returns from a conservatively positioned bond portfolio — you just have to do it with a different mix of global assets," Gross wrote in his Feb. 2 newsletter.
Gross increased his exposure to non-U.S. bonds issued by developed world economies, saying it now accounted for 5% of the Total Return Fund. He also increased his net-cash and cash-equivalents – defined as securities that mature in less than a year – to 5% as well.
At the same time, Gross reduced his holdings of mortgage-backed securities to 42% of the portfolio from 45% the previous month.
The fund is one of Wall Street’s more influential mutual funds, consisting of nearly $240 billion in assets under management.
PIMCO’s Total Return Fund has lost 0.74% year-to-date. The fund has a 15-year average return of 7.25%, making it best performing bond fund in its category, according to fund tracking firm Morningstar.
The price on the benchmark U.S. 10-year note edged lower Tuesday, pushing its yield up to 3.62% from 3.61% late Monday.
Friday, February 11th, 2011, 11:49 am
As the Treasury Departmentlooks to wind downFannie Mae and Freddie Mac, it is considering different options for what will replace them in the mortgage market. But there will also be a gap left behind in the rental housing sector, too.
One option, the Treasury suggested is to expand the Federal Housing Administration‘s capacity to fill this void.
Renters face as many affordability challenges today as homeowners. Half of all renters spend more than one-third of their income on housing, and 25% spend more than half of their income. For every 100 extremely low-income American families, 32 adequate rental homes are affordable for them, according to the Treasury white paper.
Fannie Mae and Freddie Mac did many things wrong, but they did manage to generate profits by providing financing to support this market of renters.
"As we wind down Fannie Mae and Freddie Mac, it will be critical to find ways to maintain funding to this segment of the market," the Treasury said.
The Treasury said the FHA could take up this role but using its ability to insure loans on multi-family units. This would save the government time and resources from establishing a new replacement just for this sector.
"We will consider a range of reforms, such as risk-sharing with private lenders, to reduce the risk to FHA and the taxpayer, and the development of programs dedicated to hard-to-reach property segments, including the smaller properties that contain one-third of all rental apartments," the Treasury said in the report.
Already on Friday, the National Multi Housing Council applauded the Obama administration for addressing the future of this rental market specifically. It reiterated that the government-sponsored enterprises’ multifamily programs were not broken and said that without them, foreclosures would have been widespread in the sector over the last two years.
"Reform is absolutely necessary to address the serious flaws in the single-family sector," NMHC President Doug Bibby said in a statement. "But as the Administration recognizes, policymakers need to understand that the GSEs’ multifamily programs were not part of the meltdown, and they are a vital capital source for the rental housing sector."
Whatever replaces Fannie and Freddie in rental housing, the NMHC said a government guarantee is this sector is needed to meet the growing demand. Between 2008 and 2015, nearly two-thirds of new households formed will be renters.
"The apartment industry is prepared to pay a risk-based price for such a guarantee to insulate taxpayers from any losses," Bibby said. "We also believe the guarantee should be priced so it does not unfairly compete with private debt capital. But a federal guarantee not only protects the nation from shocks during financial crises, it also ensures sufficient liquidity to the apartment industry during normal times."
February 10, 2011
The MBS Ledge: Are We Still Teetering? What’s at Stake Here? by Matthew Graham
Today’s MBS price movement shouldn’t stress you out. Not Yet. They should make you very defensive, but not stressed. Not yet….
Yes, we ended down on the day. Yes, it looked good up until 2pm, but to quote myself: "these are the realities of the post-range-breakout bond market."
AND WE CAN’T FORGET: We’re operating with a handicap where anything can and will be used against the bond market. Stocks are in favor and bonds have been cast out of the garden.
With that in mind, today has ended with lower MBS prices because several opportunities to pressure interest rate prices lower were taken advantage of by traders. Those opportunities are almost always taken these days. It’s that simple really, it’s the most basic explanation we can offer for bearish technical momentum that still needs to be reversed.
In the big picture, while loan pricing is still very sensitive, we have only inched closer to "The Ledge". And we still have one maybe two major, high volume, sell-offs before current market "Best Execution" jumps up to 5.375%. We need to see snowball selling before that happens…..we don’t want to see it though. That’s for sure…
See what we mean by defensive? It only takes a couple of consecutive down days. That means decision time is always just around the corner. BE DEFENSIVE.
That is what’s at stake here after all. 5.375% BEST EXECUTION.
So why’d we end up with the Matterhorn at the end of the day?
Combination of reasons really, and the mix of which among them bears more responsibility than the next is debatable. Certainly, we know that the Budget Deficit hitting it’s 2nd highest level ever was reported at the same time the sell-off got moving directionally. So I’d put that on a short list of suspects for sure. There were also comments from Fed’s Lockhart speaking soothe about high enemployment about 15 minutes later.
And of course the talk of the mortgage town followed about an hour later when early details of the Obama Administration’s white paper on GSE reform were shared with news outlets. Focused mortgage weakness as it relates to preparations for "Snowball Selling" could have forced some investors to sell of portion of the Treasury holdings as well. We call this "extending". In terms of the impact of the soon to be released GSE Reform White paper on the MBS market and current coupon valuations…This "headline event" has already been leaned on as motivation for fast money day traders who need an axe to grind. Yield spreads are indeed wider into lower prices today so the implied headline risk will likely be pointed to as the reason behind it. Lower and wider hasn’t been uncommon lately though. We’re just off recently rich valuations and now we’re teetering on shift in duration bias. This would push the production MBS coupon up to 5.00% and lead "Best Execution" mortgage rates higher (5.375%). READ MORE ABOUT THE SHIFT IN PRODUCTION COUPONS
But the treasury chart will tell you that not much happened. Feeling optimistic in the morning? Trade yields under the pivot. Kinda queasy ’bout the Budget Gap and White Paper uncertainty in the afternoon? Trade yields back over the pivot. Can I go home now? Sure… Go ahead and show MBS some support around PAR and the 10yr some support around 3.72, keeping each of those markets limited to say…. an 8 tick loss on the day? Then you’re free to go.
What a mixed picture. We’ve seen lots of short covering lately. So maybe this is a sign that 3.70% will hold
Treasuries fall in wake of jobless claims
Click chart for more bonds data.By Charles Riley, staff reporter February 10, 2011: 3:53 PM ET
NEW YORK (CNNMoney) — Treasury prices edged lower Thursday as investors reacted to a better-than-expected government report on initial unemployment claims and a bond auction.
The yield on the benchmark 10-year note rose to 3.71% after hovering near 3.69% earlier in the day.
Bond yields and prices move in opposite directions.
The jobs report showed that the number of Americans filing first-time claims for unemployment benefits fell to 383,000 last week — the lowest number in two-and-a-half years.
"The jobs report lends credence to the outlook that labor market is really improving," said David Coard, head of fixed-income trading at Williams Capital Group. "There may be some weather-related noise, but over the last several weeks, the trend definitely looks downward."
Later Thursday, theTreasury auctioned off $16 billion in 30-year bonds, following a robust 10-year note auction on Wednesday that Coard described as "smashing."
Wednesday’s auction produced a bid-to-cover ratio of 3.23 times, which indicates extremely strong demand. Thursday’s auction yielded a bid-to-cover ratio of 2.51.
In addition to the auction, investors are also keeping a close watch on Egypt, where reports indicate that weeks of protests may culminate in the resignation of President Hosni Mubarak.
Coard said that tumultuous geo-political events have provided support for Treasury prices in recent weeks, as investors have sought the safe haven of U.S. Treasury bonds.
"Mubarak’s resignation, should it occur, would definitely cause the flight-to-quality bid to fade," Coard said.
Fixed-income investors said this multi-day rise is due in part to expectations of a generally-improving economy and lingering, but more concrete, concerns about inflation.
After hitting a 10-month high on Tuesday of 3.72%, the yield on the benchmark U.S. 10-year note fell to 3.67% on Wednesday following the strong results of the government’s 10-year note auction.
Despite the minor pullback, the yield on the 10-year has risen 0.3 percentage points in little more than a week. Before this move, the 10-year note remained mostly in a range between 3.3% and 3.4% since mid-December.
While the recent move in longer-term Treasury rates is noticeable, bond yields have actually been trending higher since November. That may be because the Federal Reserve’s $600 billion quantitative easing program is beginning to have its intended effect of providing stimulus to the economy, investors said.
"All of the economic indicators show an improving economy and the possibility of higher inflation" said William Larkin, portfolio manager with Cabot Money Management. "Bond investors are selling into that." (Bond prices and yields move in opposite directions.)
Federal Reserve Chairman Ben Bernanke said on Wednesday he had taken note of the recent rise in bond yields, but said such movements were expected.
"I’m not concerned," Bernanke said, in response to a question from a member of the House Budget Committee. "I think it reflects primarily increasing optimism about the U.S. economy, and it’s natural for [Treasuries] to move in that way when investors become more optimistic about growth."
The more traditional government inflation indicators have remained tame for months now — January’s U.S. consumer price index showed a modest 0.8% year-over-year increase in core inflation — but food and energy prices have risen sharply.
Oil prices are up 8% in the past six months while wheat and corn prices are up 20% and 60% respectively in the same time period.
"The inflation readings that the Fed uses show no concerns about inflation but the market is starting to price in the risk of inflation," said Mike Pond, chief fixed income strategist with Barclays Capital.
Traders said with this momentum, the 10-year note could reach the 4% yield mark. But most consider a pause in the 3.7% to 3.8% range to be more likely.
"If the market becomes more concerned about these long-term budgetary problems and inflation, I don’t think a 4% 10-year is out of the question," Pond said.
Also weighing on Treasuries is the $72 billion in long-term bonds the U.S. government is auctioning off this week.
After Tuesday’s disappointing 3-year auction, the Treasury Department auctioned off $24 billion in 10-year notes at a yield of 3.67% on Wednesday. The yield was lower than where bonds had been trading earlier in the day, a sign of strong demand.
"Increased volatility and sentiment swings are something you will likely need to get used to, either as a player or a spectator," said Kevin Giddis, president of Fixed Income Capital Markets at Morgan Keegan, in a research note. "With the Fed leaving the 30-year bond off the current QE2 buying list, the movements of this end of the curve will be forced to rely on fundamentals, volume, trends and hearsay, and that will likely mean a rollercoaster of ups and downs."
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I can’t say enough good things about Shane Hulslander who works with Glen. We hit a hurdle when it was discovered that we needed flood insurance. FEMA maps changed in 2002 – if you’re anywhere near water – ours is just wetlands – you might want to check this right now. Shane hung in there through it all and we managed to close the loan pretty much on schedule with no additional fees, despite a general hike in rates. He’s a PRO – give them a call. You’ll be delighted with the customer service at Premier.
Linda Sharp Leesburg, FL (02/23/2009)