Posted To: Pipeline Press

Yesterday, as I was working on my commentary, I looked down. There I was, wearing my WAMU sweatshirt over my Lehman Brother t-shirt, sipping cocoa out of my Countrywide mug, with my World Savings shorts and IndyMac bike socks. And I thought to myself, “Dang this industry sure put out a lot of wearable swag!” Actually I was reminded of how many people literally owe the clothes on their backs to companies in this industry. And it’s all different, not like a UPS driver’s uniform, right? Something else that is different is the volatility of this interest rate environment. Few in lending will tell you that they like volatility, especially capital markets staff and anyone who locked in a rate for their borrower more than a few days ago. I mean… a .75 percent yield on…(read more)

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Source: Mortgage News Daily