The purpose here it to get you to feel sorry for people. I am talking about sound banking and economic policy. And again I say it is very hypocritical of many who for years have decried any form of governmental regulations or intervention to now be screaming for if, like Mr. Cramer is. What is stopping the mortgage companies from offering to convert all the arms to 30 fixed loans at 4% interest. Nothing, but the fact that it does not help them it helps the home owners. They do not care about the homeowners as they claim. They are running scared.
Trying, I’m really trying to figure out your angle...I see ‘peat’ and ‘repeat’ on all these threads. You have any original thoughts?
2 things.
1. They sold all the loans already.
2. Fed Funds rate is 5.25% so if they borrowed at 5.25 to lend at 4 they'd lose their shirts.
You have no clue about either. You want the Federal Reserve to be cruel to people you don't like on your behalf.
Oh, man...shades of Chavez. The only thing preventing any businessperson from offering a product at less than the cost of providing it is economic sanity. Again, it's not possible to lend money at a lower rate than cost of funds...and no, you can't make it up on volume.
Your irrational hatred of modern finance seems to have driven you around the bend.
For any reading this thread, who do so in the name of wanting to understand finance and mortgages more...this is not the place to look for knowledge. The poster is advocating financial voodoo.