Three friends from the local congregation were asked, "When you're in your casket, and friends and congregation members are mourning over you, what would you like them to say?"
Artie said: "I would like them to say I was a wonderful husband, a fine spiritual leader, and a great family man."
Eugene commented: "I would like them to say I was a wonderful teacher and servant of God who made a huge difference in people's lives."
Al, a mortgage banker, said: "I'd like them to say, ‘Look, he's moving!’"

Per Inside Mortgage Finance, the top 10 list for originators for the first half of 2007 are Countrywide ($245 billion), Wells Fargo ($148 billion), CitiMortgage, Chase, Bank of America, WAMU, Wachovia, IndyMac, GMAC, and American Home ($34 billion, now gone). All of them gained market share except Wells, WAMU, Wachovia, and GMAC. Among the top 40, triple market share increases were seen by ING and Regions Financial, with large market share losses experienced by Ameriquest, WMC, HSBC, and Lehman Brothers Bank.

Economic news has certainly taken a back seat to all of the rumors, and actual news items, that are swirling around the industry recently. If Countrywide can’t sell an Alt-A pool at a decent price and changes their rate sheets accordingly, what difference does Consumer Confidence make? If there are rumors of Impac closing their doors (which may have just been a company meeting), what difference does it make that the MBAA Mortgage Applications Survey was -.3%, with purchases -1.8% and refi’s +1.8%? Do Housing Starts matter when originators can’t sell Alt-A loans to Wells Fargo? If Nat City has cut off buying and second mortgages, and any stated guidelines, and now requires two appraisals for loans greater than $1 million, what difference do Building Permits make? And IndyMac, surrounded by rumors, is suddenly considered by Countrywide’s warehouse group as a tier one investor, along with Chase, Citi, Wells and RFC?

The 10-yr is sitting around 4.80% with only the weekly Jobless Claims (+4k to 307k) and Factory Orders (expected +1.0% at 7AM PST) releases. 30-yr A-paper mortgage prices are unchanged.

New data released by the Census Bureau this month put the share of American households that own their own homes at 68.4% in the second quarter. The homeownership rate, which peaked at 69.4% three years ago, has declined steadily over the last three quarters, and economists say it could drop further over the next two years.