Custom Search
body { background:#fff url("http://www1.blogblog.com/harbor/rocks_left.jpg") no-repeat right bottom; background-attachment:fixed; margin:0; padding:0; font:x-small Georgia, Serif; color:#003366; font-size/* */:/**/small; font-size: /**/small; } /* Commented Backslash Hack hides rule from IE5-Mac \*/ body {background-attachment:scroll;} /* End IE5-Mac hack */ a:link { color:#000000; text-decoration:none; } a:visited { color:#764; text-decoration:none; } a:hover { color:#cc0000; text-decoration:underline; } a img { border-width:0; } /* Page Structure ----------------------------------------------- */ #wrap { background:url("http://www2.blogblog.com/harbor/sky_left.jpg") repeat-x; min-width:740px; margin:0; padding:0; text-align:left; font: normal normal 99% Georgia, Times, serif; } #wrap2 { background:url("http://www.blogblog.com/harbor/lighthouse_left.jpg") no-repeat left 0px; } #wrap3 { background:url("http://www1.blogblog.com/harbor/cloud_left.jpg") no-repeat right 75px; } #wrap4 { background:url("http://www1.blogblog.com/harbor/center_cloud_left.jpg") no-repeat 50% 0px; padding:15px; width:100%; width/* */:/**/auto; width: /**/auto; } #outer-wrapper { max-width:890px; padding: 0 30px 50px; width:100%; width/* */:/**/auto; width: /**/auto; } html>body #outer-wrapper { border:3px double #fff; } #main-wrapper { width:64%; float:right; word-wrap: break-word; /* fix for long text breaking sidebar float in IE */ overflow: hidden; /* fix for long non-text content breaking IE sidebar float */ } #main { margin:0; padding:0; } #sidebar-wrapper { width:32%; float:left; word-wrap: break-word; /* fix for long text breaking sidebar float in IE */ overflow: hidden; /* fix for long non-text content breaking IE sidebar float */ } #sidebar { margin:0; padding-top: 170px; } /** Page structure tweaks for layout editor wireframe */ body#layout #outer-wrapper, body#layout #sidebar, body#layout #wrap4, body#layout #header { margin-top: 0; margin-bottom: 0; padding: 0; } body#layout #sidebar-wrapper { width: 180px; margin-left: 0; } body#layout #wrap4, body#layout #outer-wrapper { width: 650px; } /* Header ----------------------------------------------- */ #header { padding-top:15px; padding-right:0; padding-bottom:10px; padding-left:110px; position: relative; } .Header h1 { margin:0 0 .25em; color:#000000; font: normal bold 270% Verdana, sans-serif; } .Header h1 a { color:#000000; text-decoration:none; } .Header .description { margin:0; max-width:700px; line-height:1.8em; text-transform:uppercase; letter-spacing:.2em; color:#000000; font: normal bold 75% Arial, sans-serif; } /* Headings ----------------------------------------------- */ h2 { margin:1.5em 0 .75em; line-height: 1.4em; font: normal bold 95% Arial, sans-serif; text-transform:uppercase; letter-spacing:.2em; color:#cc0000; } /* Posts ----------------------------------------------- */ h2.date-header { margin:2em 0 .5em; color: #cc0000; font: normal normal 85% Georgia, Serif; } .post { margin:.5em 0 1.5em; } .post h3 { margin:.25em 0 0; padding:0 0 4px; font-size:140%; font-weight:normal; line-height:1.4em; } .post h3 a, .post h3 strong { background:url("http://www1.blogblog.com/harbor/icon_lighthouse.gif") no-repeat left .15em; display:block; padding-left:20px; text-decoration:none; color:#000000; font-weight:normal; } .post h3 strong { background-image:url("http://www2.blogblog.com/harbor/icon_lighthouse2.gif"); color:#000; } .post h3 a:hover { color:#cc0000; } .post-body { background:url("http://www.blogblog.com/harbor/divider.gif") no-repeat center top; padding-top:12px; margin:0 0 .75em; line-height:1.6em; } .post-body blockquote { line-height:1.3em; } .post-footer { color:#999; text-transform:uppercase; letter-spacing:.1em; font-size: 78%; line-height: 1.4em; } .comment-link { margin-left:.4em; } .post-footer .post-timestamp, .post-footer .post-author { color:#666; } .comment-link strong { font-size:130%; } .comment-link { margin-left:.4em; } .post img { padding:4px; border:1px solid #cde; } /* Comments ----------------------------------------------- */ #comments { background:url("http://www.blogblog.com/harbor/divider.gif") no-repeat center top; padding:15px 0 0; } #comments h4 { margin:1em 0; font-weight: bold; line-height: 1.6em; text-transform:uppercase; letter-spacing:.2em; color: #cc0000; font: bold 78% Georgia Serif; } #comments h4 strong { font-size:130%; } #comments-block { margin:1em 0 1.5em; line-height:1.4em; } #comments-block dt { margin:.5em 0; } #comments-block dd { margin:.25em 20px 0; } #comments-block dd.comment-timestamp { margin:-.25em 20px 1.5em; line-height: 1.4em; text-transform:uppercase; letter-spacing:.1em; } #comments-block dd p { margin:0 0 .75em; } .deleted-comment { font-style:italic; color:gray; } .feed-links { clear: both; line-height: 2.5em; } #blog-pager-newer-link { float: left; } #blog-pager-older-link { float: right; } #blog-pager { text-align: center; } .comment-footer { font: 78%/1.4em Georgia , Serif; } /* Sidebar Content ----------------------------------------------- */ .sidebar .widget, .main .widget { background:url("http://www.blogblog.com/harbor/divider.gif") no-repeat center bottom; margin:0 0 15px; padding:0 0 15px; } .main .Blog { background-image: none; } .sidebar ul { list-style:none; margin-left: 0; } .sidebar li { margin:0; padding-top:0; padding-right:0; padding-bottom:.25em; padding-left:15px; text-indent:-15px; line-height:1.5em; } .sidebar p { color:#666; line-height:1.5em; } /* Profile ----------------------------------------------- */ .profile-datablock { margin:.5em 0 .5em; } .profile-data { margin:0; font: normal bold 95% Arial, sans-serif; font-weight: bold; line-height: 1.6em; text-transform:uppercase; letter-spacing:.1em; } .profile-img { float: left; margin-top: 0; margin-right: 5px; margin-bottom: 5px; margin-left: 0; padding: 4px; border: 1px solid #cde; } .profile-textblock { margin:.5em 0 .5em; } .profile-link { font:78%/1.4em Georgia,Serif; text-transform:uppercase; letter-spacing:.1em; } /* Footer ----------------------------------------------- */ #footer-wrapper { clear:both; padding-top:15px; padding-right:30px; padding-bottom:0; padding-left:50px; text-align: center; } #footer .widget { background:url("http://www.blogblog.com/harbor/divider.gif") no-repeat center top; margin:0; padding-top:15px; line-height: 1.6em; text-transform:uppercase; letter-spacing:.1em; } -->

Tuesday, September 16, 2008

Aurora and Lehman Brothers Negative Media Gets You the Best Rate On Your Mortgage

Just in case you are new to the search and learning mortgage, the basics are as follows. Mortgage rates are directly related to bonds. When bonds do good, your mortgage rates drop. Today the bond market opened very positive again like yesterday...that's good for your interest rate and helps you get the best interest rate possible. Oppositely as yesterday where the bond market did SUPER and the Stock Market plunged, as the bonds did well today, the Stock Market opened with modest gains as well. Yesterday we saw a large swing in rates, but today we may only see a little swing. If we see a couple more days like yesterday and today, rates will be as low as they have been in 3 years.
WHY ARE RATES SUDDENLY DROPPING?
Lehman Brothers, a large player in the lending world, filed bankruptcy. This makes the more risky stock investments even more risky, so the stock investors take their money out of stock and put it in bonds...supply and demand. So yesterday, the Dow Jones Industrial blundered a 500 point drop. Aurora is a subsidiary to Lehman and more involved in the day to day mortgage lending and servicing, so expectations of Aurora's success are no good either...they are giant in this mortgage lending world.
Paul Jackson said it in a way that makes it very easy to understand, "In lending terms, Aurora is a shell of its former self: the company, once an Alt-A powerhouse for Lehman, laid off 1,300 employees starting in January of this year as it cut both wholesale and correspondent origination channels. As recently as the first half of 2007, however, Aurora was regularly seen producing more than $3 billion a month of Alt-A mortgages." He also mentioned that they are a giant when it comes to servicing companies - ranked 15Th largest service by Inside Mortgage Finance for 2007. We don't want Aurora to tank, but if it does and you see it hit large Mortgage Media, you might expect another drop in rates.

2 comments:

brendan said...

So is Aurora going to tank? Or did it already and I just haven't noticed because I am focused on the mounting rate of casualties and their overall impact?

Anonymous said...

Brendan,
I don't know if you subscribed to this Blog to get the answer, but see here.
The Mortgage Lender Implode-O-Meter News Pick-ups: Imploded ...Jan 17, 2008 ... Wholesale and Correspondent divisions of industry giant Lehman Brothers / Aurora Loan Services have been eliminated effective today January ...
ml-implode.com/imploded/lender_LehmanAuroraLoanServices_2008-01-17.html -

Testimonials & About Me

My photo
Frisco, Texas, United States
In 2002, Brad Lynch began energetically consulting families in finding the right mortgage plan for their needs. In the beginning years, he was trained by a mentor who led by example, and this example was the epitome of integrity. Brad learned in the beginning by his mentor that many prospects may not consciously see what good intentions he has for them, do to the “wrap” many have caused w/in this industry, but always do what is right for the customer and in the end it will payoff. Integrity coupled with an energetic nature to nurture relationships, Brad has created clients for life. Through these clients for life, referrals have become the lifeblood of his business.