From HousingWire:
Black Knight: Mortgage originations surge to highest level in three years
The purchase market is booming, fueling the overall mortgage market and helping set the highest first-lien mortgage originations volume in a single quarter since the second quarter of 2013, the latest Black Knight Financial Services Mortgage Monitor Report found, based on data as of the end of July 2016.
In the second quarter of 2016, purchase loan originations increased 52% ($102 billion) from the first quarter, reaching the highest level in terms of both volume and dollar amount since 2007.
This in turn helped bring in first-lien mortgage originations in the second quarter to $518 billion.
Black Knight Data and Analytics Executive Vice President Ben Graboske explained that a combination of continued purchase origination growth and refinance activity spurred by low interest rates drove the growth in first-lien mortgage originations in the quarter.
…
According to the most recent Freddie Mac mortgage rate report, the 30-year fixed-rate mortgage sits at 3.46%.Falling in line with recent industry reports, the Black Knight report also hit on today’s tight credit environment.
According to the report, two-thirds of Q2 purchase lending went to 740+ credit score borrowers, which is on par with last year, and the largest growth (13% year-over-year) was seen in moderate credit borrowers (700-739).
“Although the purchase lending credit box remains tight, there is increasing participation among ‘moderate’ credit borrowers as well,” said Graboske. “This segment has seen the highest rate of growth over the last three quarters, and now makes up 19% of all purchase originations.”
“On the other end of the spectrum, sub-700 score borrowers now account for only 15% of originations, with less than 5% going to borrowers with scores of 660 or below,” he said. “Both of these mark the lowest share of low credit purchase lending seen dating back to at least 2000.”
Good Morning New Jersey
Frist…..white male privilege
post of the year….
Ben says:
September 6, 2016 at 11:38 pm
Someone needs to write the ballod of Peter Plumpkinhead.
Let’s begin
Peter Plumpkinhead came to town
Spreading wisdom and cash around
Needed a home to rent to four
Isn’t that what Grandma’s for?
But he made too many enemies
The stocks he pushed only cost pennies
Hooray for Peter Plumpkin
Who’ll pray for Peter Plumpkinhead?
Peter Pumpkinhead fooled them all
Spammed the site until this past fall
When he spoke, it would cave the roof
Plumpkinhead thought he told the truth
But he made too many enemies
The stocks he pushed only cost pennies
Hooray for Peter Plumpkin
Who’ll pray for Peter Plumpkinhead?
Peter Plumpkinhead put to shame
Posters who would slur his name
Plots and spam filters failed outright
Peter merely said
Any kind of inflation is alright
But he made too many enemies
The stocks he pushed only cost pennies
Hooray for Peter Plumpkin
Who’ll pray for Peter Plumpkinhead?
Peter Plumpkinhead was too good
For the snooty town of Ridgewood
He was banned from posting while at work
His boss must be some kind of jerk
But he made too many enemies
The stocks he pushed only cost pennies
Hooray for Peter Plumpkin
Who’ll pray for Peter Plumpkinhead?
Hooray for Peter Plumpkin
Who’ll pray for Peter Plumpkin
Hooray for Peter Plumpkinhead
Goldman Sachs Bans Employees from Donating to Trump
by Lucinda Shen @ShenLucinda SEPTEMBER 6, 2016, 3:34 PM EDT
http://fortune.com/2016/09/06/goldman-elite-trump-pence/
In the memo, a copy of which was obtained by Fortune, Goldman specifically mentions the Trump-Pence campaign as an example of one Goldman partners can no longer support. Among the type of donations that are banned, according to the memo, are, “Any federal candidate who is a sitting state or local official (e.g., governor running for president or vice president, such as the Trump/Pence ticket, or mayor running for Congress), including their Political Action Committees (PACs).”
At the same time, the rules do not restrict donations to Clinton-Kaine. Kaine is a U.S. Senator for Virginia, and not considered a local official under Goldman’s rules. Although the memo does say that Goldman partners are no longer able to donate to the Virginia Democratic party, which could be a reference to Kaine. Lloyd Blankfein, Goldman’s CEO, has declined to say who he is supporting for president, but is known as a long-time Clinton supporter. Blankfein donated to Clinton when she ran against Obama is 2008.
Goldman declined to comment on this story.
http://nypost.com/2016/09/06/the-lies-told-by-the-black-lives-matter-movement/
Wow.
Goldman already paid for Hillary why would they need to buy Trump now?
Typical Goldman pump and dump on Hilly, shorting Trump so that they can really just buy him back cheap closer to November.
These are rules Goldman has to follow as they underwrite municipal bonds. A governor is considered an issuer official at the state level. If an issuer official is running for federal office no political contributions can be made. The rule applies to the firm and as an entity and to members of the municipal bond department. Employees in other areas of the firm are allowed to make contributions. Out right ban is over doing it.
3b – correction there are NEW rules. Pay-to-play restrictions from FINRA, but that does not make headlines and it does not go far enough to take money out of politics.
https://www.sec.gov/rules/sro/finra/2016/34-77465.pdf
Juice they are not FINRA rules. They are m s r b rules. Finra enforces them. What I said originally is still the case.
3b – yes they are absolutely related, however cart before the horse. The Rule 37 amendment filed in February 2016 by the MSRB is not is what is cited by Goldman or the press, they cite the FINRA rules submitted to the SEC in Dec 2015.
http://www.msrb.org/rules-and-interpretations/msrb-rules/general/rule-g-37.aspx
Juice. Got it. Unusual in my opinion taking that route.
3B i to add to the conversation. These are NEW rule making by the various regulatory agencies required by Dodd-Frank which became effective in July 21, 2010.
Slow moving regulatory agencies when it comes to political donations eh?
Take money out of politics I say.
Hillary Clinton hocked a loogie and a nation listens..(better headline for CNN)
http://www.cnn.com/2016/09/06/health/cough-cold-explainer/index.html
I bet Anon would pay to swallow that Cankle splooge.
Speaking of Dodd Frank..
Democrats move the Fed towards a more centrally controlled monetary policy by taking over the FED’s District boards.
http://www.cnbc.com/2016/09/07/democrats-plot-hostile-takeover-of-the-fed-via-dodd-frank-commentary.html
[3] Nice job chi-fi. I never even heard of the song until this minute.
https://www.youtube.com/watch?v=pYupSHWEJxA
Hat tip to Ben.
XTC Skylarking is definitely one of my top ten! Anyone not familiar with the band is really missing out. Too bad they don’t tour. Lead singer has such bad stage fright he once puked onstage.
Could you write a more misleading headline than that, Fortune? I don’t think so.
A question for the brain trust. A house I’m looking at is listed at 425k but was last sold for about 625k and is assessed at 688 by the town. If I were to buy the house would I be likely to successfully challenge the 688 assessment assuming it is not a distressed sale? Would It be realistic to expect the assessment to be at about the purchase price in this case? Thanks, a real estate rookie
I knew XTC in the “Making Plans for Nigel” days, didn’t know about them having to stop touring because Andy Partridge couldn’t do it anymore after his wife threw away his Valium (which he had been on since he was a kid).
Partridge’s breakdown, which manifested itself as uncontrollable stage fright, was reportedly precipitated by his wife throwing away his supply of valium. According to the band’s biography, valium was prescribed to him as a teenager, but he was never taken off the drug and became dependent on it. Concerned about her husband’s dependence, Partridge’s wife threw his tablets away — without seeking medical advice — just before the Paris concert. Partridge particularly needed valium to cope with the grinding monotony of concert touring, which he had always disliked but endured for the good of the band.[18] In addition to “memory loss and limb seizures”, the sudden withdrawal of medication brought on anxiety attacks of such severity that he was soon forced to withdraw from performing permanently.
https://en.wikipedia.org/wiki/XTC
Imagine what would happen to Hillary if someone took hers away (Diazepam is injectable valium)?
BTW, Hillary ups her med load (her words), but the New York Times leaves out the word “load” when they quote her.
http://www.theamericanmirror.com/hillary-admits-upping-med-load-combat-coughing-fits/
The NJ Real Estate and Hillary Health Report
In other news, Trump has a lot of gas.
It’s a start. Of course, without a break in the case, it will be all conspiracy theory . . .
http://www.msn.com/en-us/news/crime/police-probing-mysterious-death-of-ferguson-protests-leader/ar-AAiAFWy?li=BBnb7Kz&ocid=UE07DHP
@Rookiebob, unfortunately NJ muni assessors and county tax boards consider the purchase price by itself to be inadmissible as evidence that the home is overassessed. Having stated that, the listing price was likely determined with consideration to recent comparables, so you may have a straightforward case if you can produce 3-5 comps *in the same township* as evidence for your appeal, as long as they were sold within the specified timeframe (generally a one year period ending on October 1 of the year prior to the appeal).
Gary [21];
Good to see you alive, man. Home the village and the family are well.
Home -> Hope
The new iPhone blows chunks. I knew it would when I signed up for my 2-year agreement with Verizon over the insured yearly upgrade plan directly through Apple. Best of all, this will make it possible for me to sell my used iPhone 6s 64gb for $200 when I get the 8! Booyah.
I used Swappa to sell both Lisa’s and my old 5S, both 16GB and both 2 years old for $200 each. Of course, both phones were in mint condition having been kept in Otterbox Defenders for two years.
Huh?
What’s wrong with the new iPhone? I though fan boys are jacking at pics of it today. Im amazed that Apple has the balls to swap the thoroughly fine headphone jack for yet another proprietary plug, designed to sell overpriced and mediocre Beats headphones.
I think I toured this house in Wayne with Grim about five years ago…
That ’70s home! Kitsch house that hasn’t changed in 47 years goes up for sale with all original furniture, an 8-track player and a toaster that pops out of the wall
Orange Shag!. Yeah, baby!
Phono jack will go the way of the Floppy Disk and CD.
@Comrade… my bank-owned Delaware house purchase fell through. Actually I should state that since the place was found to have a bad foundation, I terminated the contract before it literally “fell through”. I took away some good lessons learned in this process. Anyway, thanks for reaching with your neighborhood welcome.
I have less of an issue with the loss of the headphone jack as I do with the complete lack of anything else. Come on. Zoom/telephoto lens, water resistance and a 16gb memory boost to entry level model plus a slightly faster processor. Who cares if it’s thinner if you still need a case for it. How about Apple makes a phone that does not require a case. That would sell like hot cakes.
By the way. That living room and kitchen in that 70s house was mine. We had those exact glass tables and red shag carpeting too as well as the dark wood paneling. Our kitchen was yellow and green as well.
I think these will be about as successful as that tiny buttonless shuffle.
AirPods will begin shipping in late October and will cost $159.
That 70’s house is a bi-level too, right? (In Long Island they call them raised ranches, I’m not sure what they would call a real raised ranch).
it’s a compliance issue, we can’t donate to Trump either at work because of Pence. A pay to play restriction that could get us in trouble with certain groups of investors. Not Goldman backing a candidate exclusively.
Do any of them have last names that rhyme with Schmoros?
A pay to play restriction that could get us in trouble with certain groups of investors.
Revealed in the Friday evening data dump, before the long weekend:
http://thehill.com/blogs/blog-briefing-room/news/294465-cnn-anchor-stunned-that-clinton-aides-destroyed-phones-with
CNN anchor Brooke Baldwin was in disbelief when she learned that Hillary Clinton’s aides destroyed her phones with a hammer.
When Boris Epshteyn, an adviser to Donald Trump, told her on air that the Democratic nominee’s aides destroyed her BlackBerries with hammers, Baldwin interrupted him to ask a reporter to fact-check that statement.
“Evan, hold on, can you fact-check?” Baldwin asked reporter Evan Perez on “CNN Newsroom” on Friday. “Evan Perez? Hammers? Fact-check that for me, on the fly.”
“Yes they did, Brooke.” Perez responded. “As he mentioned, there were 13 mobile devices and 5 iPads that the FBI said that in some way were used with her private email server, and they did in some cases just destroy them with hammers when they were done using them.”
The FBI on Friday released a detailed report on its investigation into Clinton’s use of a private email server while she was secretary of State.
The report included notes on the agency’s three-hour interview with Clinton.
Moose, that bathroom hurt my eyes.
I wonder if the other folks in Framingfish know about that time capsule>
The return of the Squirrel letters.
http://www.nytimes.com/2016/09/06/technology/no-for-sale-sign-silicon-valley-buyers-arent-deterred.html
Tywinn
“destroyed her BlackBerries with hammers”
Here’s a funny thought, not linked with Politics, but with Sport. Can Hillary plead the Brady defense that she just switched phones? One of the things that always stuck with me from Bradygate was:
“Brady argued that he wasn’t intentionally avoiding the league’s investigation when he destroyed his phone: He just destroys his phone a lot”
His claim that he couldn’t produce the texts because he switched from a Galaxy to an iPhone just doesn’t fit. If you walk into any phone store, they will extract everything off your old phone onto your new, even if you are going across platforms.
Do we think that Tom, was manually re-inputting his address book into the new phone?
“No, I don’t have that quite right. In fact, he explained: “I replaced my broken Samsung phone with a new iPhone 6 AFTER my attorneys made it clear to the NFL that my actual phone device would not be subjected to investigation under ANY circumstances. As a member of a union, I was under no obligation to set a new precedent going forward, nor was I made aware at any time during Mr. Wells investigation, that failing to subject my cell phone to investigation would result in ANY discipline.””
The Hammer Defense! AKA https://www.youtube.com/watch?v=otCpCn0l4Wo
Plumpty unworthy of XTC. But, that was good.
Someone please take a hammer to gluteus.
The Mayor of Simpleton shows up!.
I had a question for you, is Mikey selling more Toon shirts than Burkinis?
Maybe he could combine them!
Was Harambe really killed because he was Chelsea’s dad?