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Somehow Angelo Mozilo's comments to Maria Bartiromo this morning don't pass my smell test.

Effective immediately Capital One is sutting down its mortgage unit GreenPoint Mortgage. The companys stock is taking a beating. The damage continues.

It's becoming harder and harder to get a jumbo mortgage. Here's why.

The credit-crunch, Countrwide, Sowood Capital, etc. - they all come down to families like the Montes. As go the Montes, so goes the economy. Let's keep our fingers crossed.

The second quarter data is out from the National Association of Realtors and prices are holding pretty steady.

Data that I follow seems to show fewer homes on the market, not more as would be expected. What's the explanation?

The subprime/mortgage mess has accelerated this week and today the Fed stepped in to shore up the market. Many believe that a rate cut is inevitable to further shore up the market. In the meantime, the market gyrates up and down as more banks freeze credit and try to assess their positions.

In Massachusetts even borrowers with good credit are having trouble getting a jumbo mortgage. The credit crisis seems to have spread beyond just the sub prime market.

After a 10 years of hype on how the real-estate market is the safest place to be, the spinmeisters have gone into reverse, saying we're headed for a collapse. Don't believe it. Sure, the real-estate market is correcting but it's not going to collapse and bring the economy down with it. Here's why.