The Veridian Blog

Hi All -

The recent news about higher than expected CPI and the downfall of Indymac has done nothing to soothe investor fears in the secondary market.  For insiders, the holes in Indymac were seen months ago and it was only a matter of time before they were either bought out or rescued by the FDIC.

We originated many loans with Indymac during the last 5 years as one of its elite brokers and are saddened to see the dissipation of what was once a cutting-edge band of technology leaders.  For those clients who have Indymac loans, please be aware that you will receive notice by mail of where to send your loan payments, if not already.  And no, your loans will not be forgiven at this time :-)

Inflation remains enemy #1 for the Federal Reserve AND mortgage originators.  As such, the slightest indications of growing inflation will damage short-term prospects for lower rates.  Over the long-term, we believe and support the Fed's stance against inflation in favor of long term growth and stable employment.  Specifically with rates, although it has been a volatile year so far, we believe there is still room to fall in 2008.  Stay tuned...