05/28/2010
Happy Memorial Day Weekend!
The Fairway team would like to wish everyone a happy Memorial Day Weekend.
Enjoy time with friends, family, and the like.
Stay tuned for our next post when you make it back to work on Tuesday.
05/26/2010
Fightin’ Words
When we see a title like Hey, Mortgage Industry: Nobody Trusts You, our first instinct was to take a step back, raise an eyebrow, and release a low pitched “hmm.”
- As a company, we’ve survived the mortgage meltdown as well as picked up some talented team members in the wake of the whole mess.
- We’re still afloat and doing business within our respective regions.
- We have a team that comes to work, ready to hustle and get the job done.
The last meeting that we had, everyone was in smiles, determined to do what’s needed to serve our customers and all parties involved in our traditional “win-win” style.
To read a title like “Hey, Mortgage Industry: Nobody Trusts You,” it makes us wonder if the media are looking in the right places.
We know it’s a blanket statement, but that blanket is quite a wet one if we’re working day to day trying to “right” this crazy ship of an industry in our own little way.
05/25/2010
All Eyes on Euro
As the money markets work through a possible near-$1 trillion bailout package, all eyes are on the status of the Euro.
Underneath that conversation, the banks and private money look at LIBOR and its relationship with domestic interest rates.
Warren Mosler defines the relationship in his post about the whole ordeal as “when the Eurobanks are faced with higher costs of borrowing dollars, those higher dollar interest rates can cause the dollar LIBOR settings to rise.”
Mosler simplifies a much longer explanation with: Eurobanks paying higher rates of interest on dollar loans causes interest rates to rise in the US.
Internally, we discuss the effects of the LIBOR change and interest change on our profits—we cannot be the only firm having this discussion amongst one another.
In general terms, what are your thoughts on where this predicament is heading and how will it affect private and hard money through an already-poor market?
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