The Chicago 77

19 November 2010 – “Sometimes you eat the bear and sometimes the bear eats you.” A simple quote that definitely describes the most recent week in the mortgage markets. Unfortunately it was more of the latter for those hoping for the salad days of conforming Fannie Mae and Freddie Mac conforming loans below 4.375% Since [...]

12 November 2010 – Since this week was much like the last few, I figured that would spice things up with a musical interlude. Because I cannot sing well enough to do this justice, I would ask that you use some good imagination. Hooked on Some Easing (Sung to Hooked on a Feeling) Ouga, chaka, [...]

5 November 2010 – The past week was an exciting one. First, there were the mid-term elections with all of the drama of a Mexican soap opera and the negativity of homeless curmudgeon yelling at you on an El platform. This, however, paled in comparison to the much anticipated announcement of QE or quantitative easing [...]

Life just got a whole lot tougher in the wonderful world of condominiums. HUD recently announced that they are requiring all condominium projects undergo re-approval. This literally means that every condominium development that successfully underwent the previous process will no longer be approved and they must reapply for approval to be eligible for FHA loans. [...]