Economic Statistics for 4 Jun 12
Today’s ecobomic news consists solely of Factory Orders for April, which fell -0.6% on top of March’s downward revised 2.1% decline. This is another disappointing number to follow Friday’s Employment Situation, and demand for factory orders fell in almost every sector. Needless to say, this weakness in factory orders was…wait for it…unexpected.
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Dale Franks
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I did not know this before …
To Help Fix Housing, Disclose Mortgage Addresses Imagine going into a community bank and getting a mortgage but not telling the lender exactly where the house you want to buy is. You give the lending officer the zip code, and a few other clues about the home, but you walk out of the bank without having given your name or a street address.
Sounds like a scam, right?
Well, that’s how most mortgages are financed in the U.S. Investors in private, residential mortgaged-backed securities (or RMBS) are prevented by law from knowing the address for the mortgages they purchase.
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