{"id":7372,"date":"2009-03-07T23:25:29","date_gmt":"2009-03-08T06:25:29","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=7372"},"modified":"2009-03-08T00:07:50","modified_gmt":"2009-03-08T07:07:50","slug":"ive-taken-the-liberty-of-posting-my-mortgage-market-week-in-review-here","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7372\/ive-taken-the-liberty-of-posting-my-mortgage-market-week-in-review-here\/","title":{"rendered":"I&#8217;ve taken the liberty of posting my &#8220;Mortgage Market Week in Review&#8221; here&#8230;.."},"content":{"rendered":"<h3>The Week We Woke  Up<\/h3>\n<p>I&#8217;m going to deviate from the normal format this week, because I believe that  this week has deviated from the normal that we&#8217;ve been experiencing lately.\u00a0\u00a0  I&#8217;m calling it the <strong>Week We Woke Up<\/strong>.<\/p>\n<p>What did we wake up to?\u00a0 A couple of things:<\/p>\n<ul>\n<li>The fact that t<strong>he debate on whether we&#8217;re going to have to  nationalize some of the banks\/financial institutions is pretty much a debate  over semantics<\/strong>. \u00a0 The announcement that the government now owns 36% of  Citibank and that we had to spend some additional billions (how many has yet to  be determined) to save AIG for the third time effectively said that <strong>we  are now in a situation where the government does own some of the banking  industry and the debate should now be about the how and not the whether or  not<\/strong>.\u00a0\u00a0 This mess sent shock waves through the financial markets and  virtually every bank saw their stock prices get &#8220;adjusted&#8221; accordingly.\u00a0 There  was a time this week that Citibank was trading for less than the cost of a Jr.  Bacon Cheeseburger at Wendys.<\/li>\n<li> <strong>The reality of GM&#8217;s scenario became a lot clearer <\/strong>and not  in a way that was going to make the economy any healthier.\u00a0 There&#8217;s a phrase in  business accounting called, &#8220;A Going Concern.&#8221;\u00a0\u00a0 What does that mean?\u00a0  Essentially it means that a business is generating enough income and has enough  cash to continue in business.\u00a0 <strong>Well, GM not only had some bad news in  terms of sales, but they admitted that their auditors don&#8217;t believe that they  can remain in business.<\/strong> That&#8217;s a pretty strong indication that GM&#8217;s  condition is a lot worse than what we thought a couple of months ago.\u00a0 What does  the prospect of a GM bankruptcy mean?\u00a0 Best case scenario &#8211; renegotiated  contracts with the UAW and bond holders, substantial job losses and dealership  closures. \u00a0 Worst case scenario &#8211; total liquidation of GM and absolutely  staggering job losses that will make <a href=\"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7372\/ive-taken-the-liberty-of-posting-my-mortgage-market-week-in-review-here\/#more-7372\" class=\"more-link\">Read more<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Week We Woke Up I&#8217;m going to deviate from the normal format this week, because I believe that this week has deviated from the normal that we&#8217;ve been experiencing lately.\u00a0\u00a0 I&#8217;m calling it the Week We Woke Up. What did we wake up to?\u00a0 A couple of things: The fact that the debate on [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[29,26],"tags":[261],"class_list":["post-7372","post","type-post","status-publish","format-standard","hentry","category-group-therapy","category-lending","tag-mortgage-market-week-in-review","no-featured-image"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":17917,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17917\/overnight-news-how-do-you-house-the-post-monogamous\/","url_meta":{"origin":7372,"position":0},"title":"Overnight News: How do you house the post-monogamous?","author":"Greg Swann","date":"March 3, 2021","format":false,"excerpt":"Real estate has a demography problem \u2013 especially nerd-bait real estate: The kids are not all right. Real estate is kids and dogs \u2013 which is to say that people buy homes to house the further fruits of their coupling. Fewer couples, fewer purchasers, more renters. But fewer couples, less\u2026","rel":"","context":"In &quot;Group Therapy&quot;","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2175,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2175\/psa-watch-the-debate-on-hr-3915-live\/","url_meta":{"origin":7372,"position":1},"title":"PSA: Watch the Debate on H.R. 3915 Live","author":"Morgan Brown","date":"November 6, 2007","format":false,"excerpt":"The debate is underway in the Financial Services Committee on The Mortgage Reform and Anti-Predatory Lending Act of 2007 you can watch it live here. (Clicking this link will launch your video viewer). I'm interested in seeing how poorly the politicians understand the concepts they are debating. Enjoy.","rel":"","context":"In &quot;Lending&quot;","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4588,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4588\/wall-street-bailout-plan-to-include-more-than-bad-mortgage-debt-feds-to-absorb-unpaid-bar-bets-inadvertently-laundered-postage-stamps-unredeemed-soda-cans-and-insufficient-tooth-fairy-disbursements\/","url_meta":{"origin":7372,"position":2},"title":"Wall Street bailout plan to include more than bad mortgage debt: Feds to absorb unpaid bar bets, inadvertently laundered postage stamps, unredeemed soda cans and insufficient tooth-fairy disbursements","author":"Greg Swann","date":"September 22, 2008","format":false,"excerpt":"Totally absurd? Think twice:In the dark of night over the weekend when most people were snoozing, the Treasury dramatically expanded its bailout plan to include buying student loans, car loans, credit card debt and any other \"troubled\" assets held by banks. The changes, which were included in draft language that\u2026","rel":"","context":"In &quot;Group Therapy&quot;","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12901,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/12901\/that-giant-slurping-sound-is-the-mortgage-market-drying-up\/","url_meta":{"origin":7372,"position":3},"title":"That Giant Slurping Sound is the Mortgage Market Drying Up","author":"Brian Brady","date":"August 10, 2010","format":false,"excerpt":"Ken Montville asked the nagging question about the future of the mortgage market: Unfortunately, even Congress \u2014 that bastion of liberalism and home of the bailout \u2014 is tiring of pouring good money after bad into the two mortgage giants that have been sucking up all the mortgages \u2014 good\u2026","rel":"","context":"In &quot;Investment&quot;","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14070,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14070\/farewell-to-fannie-and-freddie-hold-your-breath\/","url_meta":{"origin":7372,"position":4},"title":"Farewell to Fannie and Freddie? Hold your breath&#8230;","author":"Greg Swann","date":"February 8, 2011","format":false,"excerpt":"The Obamanation plans to offer up three proposals to eliminate FannieMae and FreddieMac from the secondary mortgage marketplace. Expect to hear much mournful keening, in coming weeks, from the country's best enemy of private property, the National Association of Realtors. From the Wall Street Journal:More than two years after the\u2026","rel":"","context":"In &quot;Big Mother&quot;","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8546,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/8546\/the-end-of-no-cost-mortgage-loans-and-other-hr-1728-concerns\/","url_meta":{"origin":7372,"position":5},"title":"The End of No-Cost Mortgage Loans and Other HR 1728 Concerns","author":"Mark Madsen","date":"May 22, 2009","format":false,"excerpt":"The H.R. 1728: Mortgage Reform and Anti-Predatory Lending Act is a problem that all mortgage and real estate professionals need to pay attention to. My first rule of blogging has always been to avoid political discussions, especially if I'm not an expert on every angle of the topic. So, with\u2026","rel":"","context":"In &quot;Dirty Laundry&quot;","block_context":{"text":"Dirty Laundry","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dirty-laundry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/7372","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=7372"}],"version-history":[{"count":4,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/7372\/revisions"}],"predecessor-version":[{"id":7374,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/7372\/revisions\/7374"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=7372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=7372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=7372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}