The London offices of Cantor Fitzgerald International and eSpeed International have reported thatthey are "doing everything possible to assess the situation at their world headquarters at One World TradeCenter in New York City," which has been active in serving the mortgage-backed securities market. Both companies had operations on the 101st, 103rd, 104th, and 105th floors. Approximately 1,000 peopleare employed by the two companies at the World Trade Center. At midday Wednesday, the companies said they wereunable to determine how many employees were in the building at the time of the attack or whether they were safelyevacuated. "All of our thoughts and prayers are with our [New York] colleagues and their families and friendsat this time," said Howard W. Lutnick, chairman of both companies. "In a very difficult and confusedsituation, we are doing all that we can to determine more about the situations of colleagues." The companieshave asked anyone who can confirm the safety of any of the affected employees to phone 212-704-8188. Relativesand friends who wish to inquire about employees should call, from inside the U.S., 1-866-326-3188 or 011-44-20-78947321 and, outside the US, +44 (0)20 7894 7321. The eSpeed website in the United Kingdom will also provide updates.Its address is http://www.espeed.co.uk.
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In addition, John Roscoe and Brandon Hamara have been appointed co-presidents at the government-sponsored enterprise, effective immediately.
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Forbearance or refinancing may help some, workarounds can keep many mainstream loans moving and one type of uncertainty does have an upside for rates.
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While the Federal Open Market Committee has yet to meet this month, investor pricing of longer-term bonds helped mortgages by 11 basis points, Wallethub said.
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While purchase volume is up 20% from last year, it was 5% lower than one week ago, although a 4% increase in refinance activity helped pick up the slack.
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The Department of Justice has filed a motion opposing the Consumer Financial Protection Bureau employee union's appeal of an August D.C. Circuit ruling allowing the administration to fire up to 90% of the agency's workforce.
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Top industry minds emphasized they're still bullish on the technology and said humans will still provide irreplaceable traits like empathy and trust.
October 22