Wells' Appraisal Settlement, Trends in Collateral Valuation; Non-Prime MBS

Posted To: Pipeline Press

Who is 29-year old Pete Kostelnick? No, he’s not the cute new AE covering your region. Pete just set a world record for fastest run across America: 3,067 miles from San Francisco’s City Hall to New York’s in just more than 42 days. Isn’t that about the average rate lock period? And it is certainly faster than foreclosing in New Jersey , which has now stretched out to 3 ½ years . It doesn't take advanced math to figure out why this impacts servicing values in the Garden State. While we're talking about numbers, the per-gallon gasoline tax rate in New Jersey just jumped from 14.5 cents (one of the lowest in the nation) to 37.5 cents (one of the highest), to fix the state's road system. Bank M&A continues for various reasons - not the least of which is the age...(read more)

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