Items Tagged with 'International Monetary Fund'


  • RIP yield spread premium — make way for mega bank mega profits

    If you search the Internet, congressional testimony, academia or the media for insight into how lenders price residential mortgages you're likely to turn up a mountain of discussion of the yield spread premium paid to brokers by lenders. Maybe a little about the fact that mortgage rates reflect where mortgage securities trade in the bond market, but not much that explains loan pricing for retail customers. Nothing that explains what banks make if they originate the loan internally and don't pay a broker or correspondent to do it for them.
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  • No Backstop, No Immediate Answers for Sovereign Debt Woes

    Editor's Note: On Monday, Paul Jackson, the publisher of HousingWire, postulated the market sentiment that we are all in this mess together. Two days ago, in one of his rare appearances in front of the press, Bank of England Governor Mervyn King spoke frankly to reporters over the results of his Quarterly Inflation Report.
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  • We're All Greek Now

    There really is no other way to say it: the global economy is now on a debt binge the likes of which we have never seen before. But consumers are no longer at the wheel; instead, governments are now hell bent on protecting consumers (and the markets they help make) from the consequences of their own actions.
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  • Deflect and Absorb: Measuring the Greek Afterburn on American Markets

    In examining the implication of the Greek debt crisis on the American financial markets, there are several points that continue to go unnoticed. Underneath the veneer of market hysteria reports, with some suggesting that a collapse of the Greek financial structure is proof of the vulnerability of the GSEs, it appears a good time to put everything in perspective. First, take a deep breath.
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  • The Debt Bubble: if it Happened to Them, it Can Happen to U.S.

    Yesterday Standard & Poor's announced its sovereign rating of Greece would be maintained for the moment at triple-B. The birthplace of democracy recently navigated a hotbed of solvency issues, including downgrades to its sovereign rating, as Greece became the poster child for 'how not to run your country's finances.' In parallel, the day before, Moody's Investors Service said the United States risks losing its beloved triple-A credit rating if it doesn't better manage its piles of debt. But more on that later, let's start with what's up with Greece:
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