It was announced Thursday evening that Washington Mutual was closed by the U.S government in what is the largest U.S. bank failure in history. The Federal Deposit Insurance Corp was named receiver and stated that "customers should expect business as usual on Friday, and all depositors are fully protected." I am not writing this post to discuss the details of the post-failure workings (please read this Yahoo News article), and I do understand that WaMu's failure is complicated.  I just...continue reading...

Things have certainly changed for city planners and those who envisioned a vibrant new "downtown" in Escondido.  Just a couple of years ago, plans were made and buildings started going up for three projects whose new residents would provide a much needed shot in the arm for downtown merchants. The most ambitious project, Paramount by D.R. Horton, had been under construction for nine months when four of the five buildings burned to the ground in January 2007.  Paramount was to be...continue reading...

Huge headlines, scary story lines, and big government moving at breakneck speed to shore up our economic backbone.  You are undoubtedly hearing about an eminent and massive move by the Federal government to finally get its arms around the national, indeed global, financial crisis. The latest courtesy of my friend and Branch Manager Paul Gonzalez at our sister company CW Mortgage.   We are writing to you today to briefly shed some light on what this may mean to you and...continue reading...

One of the most important functions of our Government is to help individuals and corporations when they are in trouble.  Last Sunday, our Government made a strategic decision to officially bail out Fannie Mae and Freddie Mac.  The decision is obviously great news for the two mortgage giants, and homebuyer-hopefuls should be just as excited - you're going to benefit, too!  Although the bailout is a complicated issue, it is better than the alternative - the failure of two companies that...continue reading...