Tuesday, January 02, 2007

ABM-AMRO Mortgage.com Unit For Sale?

Reuters speculates last week that ABM-AMRO may be partially or wholly on the block. Add that to Ameriquest which was previously speculated about, and today's AP report that Mortgage Lender's Network USA has ceased operations and is laying of 80% of staff.

Pundits are predicting recession unrecognized by the fed until late 2007 and no signs of housing market recovery.

Can lenders/borrowers hold out until the next refinance boom? Or will Bernanke act more agressively. There are more surpises to come as US fiscal hubris keeps its head planted in the sand.