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Bad Math - Why The Bullish Case Doesn't Add Up Wednesday, September 8, 2010 @ 2:19PMStocks are up and investors are becoming increasingly bullish. A "back to the basics" approach however shows that the math supporting the bullish case simply doesn't add up.
Federal commission hears Bakersfield's woes Tuesday, September 7, 2010 @ 9:47PMA few words from Bill Thomas offered a ray of hope -- for one woman -- at the end of Tuesday's field hearing of the federal Financial Crisis Inquiry Commission in Bakersfield.
Where is Michael Burry (credit default swap legend) Investing Now ? Tuesday, September 7, 2010 @ 9:26AMBy CanadianValue. Micheal Burry is probably the most interesting character to emerge from the credit crisis and one of the biggest winners. Burry identified early the horrible lending practices that were taking place in the United States and convinced Wall Street Firms to sell him credit default swaps on collateralized mortgages that Burry personally selected. Read more » »
Fannie Mae deals on foreclosures Saturday, September 4, 2010 @ 11:24PMA little-publicized national lending program could be just what you need this fall - if you're a buyer with...
U.S. housing double-dip threatens banks Friday, September 3, 2010 @ 6:32AMComment: If banks do require another rescue the political consensus to do it quickly and effectively will not be there
Fannie Mae program designed to sell foreclosures Friday, September 3, 2010 @ 4:02AMBy Kenneth R. Harney, Special to the Times Wednesday, September 1, 2010 Fannie Mae program aims to help move backlog of foreclosures WASHINGTON — If you fit the profile — typically buyers with little cash on hand or small-scale investors looking for a deal on a foreclosed house — a little-publicized national lending program could be just what you need this fall. Here's what it offers: • Minimal ...
Arvest Bank files suit against Remy family Friday, September 3, 2010 @ 3:38AMScores, statistics, standings and information of local and national sports.
Fannie to Crack Down on Foreclosure Delays Friday, September 3, 2010 @ 3:00AMIs a stealth shift in policy afoot, to find the bottom in the housing market by getting banks to start clearing out their foreclosed and “ought to be foreclosed” exposures? On Tuesday, Fannie Mae announced that it was not longer giving servicers free rein, and was clamping down on multiple fronts, such as procedures and [...]
Housing on the Brink Thursday, September 2, 2010 @ 11:47PMThe glimmer of hope in this week’s housing data — a rise in pending home sales — is not likely to be sustainable.
Arvest Bank files suit against Remy family Thursday, September 2, 2010 @ 4:23PMArvest Bank has joined the list of financial institutions suing the Remy family of real estate investors with a move to foreclose on two undeveloped tracts of land.
HUD Announces First Look Program to Help Communities Stabilize Neighborhoods Hard-Hit by Foreclosure Thursday, September 2, 2010 @ 3:53PMRISMEDIA, September 3, 2010—U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced an unprecedented agreement with the nation’s top mortgage lenders to offer selected state and local governments, and nonprofit organizations a “first look” or right of first…
Gold & Investement in Failure Thursday, September 2, 2010 @ 11:29AMUse the above link to subscribe to the paid research reports, which include coverage of critically important factors at work during the ongoing panicky attempt to sustain an unsustainable system burdened by numerous imbalances aggravated by global village forces.
Local Foreclosures an Investment Magnet Wednesday, September 1, 2010 @ 4:56PMMemphis ranks number one in foreclosure bargains. While that's good news for people looking to get a deal on a first home, the bargain basement prices also attract investors not vested in the Memphis community. That has some worried they'll do more harm than good.
Fed, FDIC Team Up to Examine Future of Housing Finance Wednesday, September 1, 2010 @ 4:51PMThe Fed will co-host a conference on the future of housing finance this fall amid intensifying efforts by policy makers and bankers to address a root cause of the financial crisis.
Rep. John Conyers: My Letter to Secretary Geithner: Fannie Mae Must Stop Bankrolling Lawsuits Against Underwater ... Wednesday, September 1, 2010 @ 11:17AMOne of the most underreported stories of the recent global financial meltdown was the role played in the crisis by housing giants Fannie Mae and...
Foreclosures spike, tied to joblessness Wednesday, September 1, 2010 @ 5:20AMForeclosures in Massachusetts soared by nearly 80 percent in July compared to the same period a year ago, according to new figures released yesterday. On the North Shore, the number of July foreclosures more than doubled in Beverly, Danvers and Salem and increased sharply in Hamilton and Marblehead, according to the report by The Warren Group, which publishes Banker & Tradesman.
Q&A: What's ahead for Fannie Mae and Freddie Mac Friday, August 27, 2010 @ 8:04PMQ: What are Fannie Mae and Freddie Mac? A: The two government-created enterprises are the nation's largest buyers of mortgages. They pool home loans from lenders and sell them with a guarantee that investors will get paid even if borrowers default.
Foreclosures continue to climb in DeKalb Friday, August 27, 2010 @ 12:47PMDeKalb County residents continue to feel the burden of a faltering economy as more than 2,000 foreclosure notices were posted in a month for the second time this year, according to data released by Alpharetta-based Equity Depot last week.
Cancer & Desperation of QE2 Friday, August 27, 2010 @ 9:29AMUse the above link to subscribe to the paid research reports, which include coverage of critically important factors at work during the ongoing panicky attempt to sustain an unsustainable system burdened by numerous imbalances aggravated by global village forces.
Skipping on mortgage debt can be risky Thursday, August 26, 2010 @ 10:12PMSome homeowners underwater on their home loan – meaning they owe more on the mortgage than the home’s current value – are turning to “strategic defaults” in which they simply walk away from mortgage debt. But financial experts warn that the cost of skipping out on mortgage debt can be high. The American Bankers Association recently warned homeowners about the consequences of strategic default ...
After Housing Bubble, the Dark Side of Homeowner Dreams Thursday, August 26, 2010 @ 4:50PMBuying a house is supposed to make us better citizens, better investors and better off. But that American Dream may well be a fantasy
Ray Brescia: When the Rich Get Risky: Inequality and Financial Crises Thursday, August 26, 2010 @ 10:54AMOne of the most striking--and perhaps most underreported--aspects of the financial crisis is reflected in one economic indicator. The chart below tracks this indicator over...
Mortgage Rates: How Low Can They Go? Thursday, August 26, 2010 @ 10:43AMIn what has become a limbo dance of mortgage lending, rates managed to reach yet another low.
Winning the Loan-Modification Lottery, Part I Wednesday, August 18, 2010 @ 9:18AMOne of the secrets of the effort to modify home-mortgages: A lot of it depends on dumb luck.
Waking up from the American dream Wednesday, August 18, 2010 @ 6:00AMLooking to shore up the market for home loans, the Obama administration on Tuesday held a conference on fixing the system at the heart of the credit crisis. Some Republicans want to get rid of the massive government-backed lenders Fannie Mae and Freddie Mac, while bond-market guru Bill Gross suggests nationalizing the system entirely, pointing out that the government can lend at lower rates than ...
ALL BUSINESS: Risks abound if too many refinance Wednesday, August 18, 2010 @ 1:57AMNEW YORK—Lots of homeowners are frustrated these days that they can't seem to get a mortgage refinance even though interest rates are at historic lows. It turns out they're not alone.
Coping with Fannie and Freddie's collapse Tuesday, August 17, 2010 @ 4:51PMQuestions and answers about Fannie Mae and Freddie Mac and their role in the mortgage market: Q: What are Fannie Mae and Freddie Mac? A: The two government-created enterprises are the nation's largest buyers of mortgages. They pool home loans from lenders and... Freddie Mac - Fannie Mae - Mortgage - Loan - United States
Summit aims to fix mortgage-finance system Monday, August 16, 2010 @ 11:05PMThe U.S. Treasury Department, hosting a summit today on how to repair the mortgage-finance system, may get a blunt message from stakeholders in an industry tied to 15 percent of the country's economy: Don't screw it up. The system's size and complexity mean... United States - United States Department of the Treasury - Mortgage - Finance - Business
The Bottom For Housing Starts? Monday, August 16, 2010 @ 2:56PMBy Josh Zachariah. Warren Buffett commented on CNBC a couple months ago saying we should expect to see an up-tick in house prices in about a year, at least for regions not overproduced. Though it should be read with caution as he acknowledges he didn't appreciate the size of the housing bubble years ago and made some mistimed investments in companies like U.S. Gysum. In any case he's generally ...
Thinking About Rainbows Monday, August 16, 2010 @ 12:06PMI’ ve been thinking about rainbows. Actually I’ve been thinking about storms, Creston, our economic prophets, unemployment, the equity markets, real estate, Sierra Leone, Pastor Samuel Menyongar, and “beautiful prisons.”
Treasury Housing Fix Means Juggling Bailout, Economy Monday, August 16, 2010 @ 12:05PMThe U.S. Treasury Department, hosting a summit tomorrow on how to repair the mortgage-finance system, may get a blunt message from stakeholders in an industry tied to 15 percent of the country’s economy: Don’t screw it up.
Why Older Americans Walk Away From Mortgages Monday, August 16, 2010 @ 8:45AMWhy Older Americans Walk Away From Mortgages
Obama Wins Low Yield as Markets Shrink Aiding Deficit Monday, August 16, 2010 @ 6:46AMBond investors seeking top-rated securities face fewer alternatives to Treasuries, allowing President Barack Obama to sell unprecedented sums of debt at ever lower rates to finance a $1.47 trillion deficit.
Deals on foreclosures Friday, August 13, 2010 @ 7:54PMNearly 100 foreclosed homes and condos in South Florida will be auctioned on Saturday, as part of Fannie Mae 's community homebuyer program taking place in Miami Beach.
Representatives Convey and Kaptur Call on Geithner, Fannie, FHFA to Stop Efforts to Pursue Strategic Defaulters Friday, August 13, 2010 @ 3:23PMAs we’ve noted on this blog, the Administration efforts to punish so-called strategic defaulters seem hopelessly misguided. First, it’s well nigh impossible to tell with simple screens who really could afford their house longer term (ie people who default suddenly, as opposed to wobble in and out of being current on their mortgage before folding, [...]
Nearly 100 South Florida Properties to be Auctioned at Community Homebuyer Event Friday, August 13, 2010 @ 9:07AMAs part of its neighborhood stabilization efforts in South Florida, Fannie Mae will hold private and public community homebuyer auctions for nearly 100 of its HomePathÂ® REO properties in Florida's Miami-Dade, Broward and Palm Beach counties at the Miami Beach Convention Center on Saturday, August 14.
High-End Home Sales Getting Boost From Low Jumbo Rates Thursday, August 12, 2010 @ 5:26PMWhile record-low mortgage rates aren't doing much to spur regular home sales, the higher end of the housing market is getting a big boost from the decline in so-called jumbo rates.
Low 'Jumbo' Rates Help High-End Home Sales Thursday, August 12, 2010 @ 3:28PMThe higher end of the housing market is getting a significant boost from record-low rates on 'jumbo' loans -- mortgages of $417,000 and above.
Richard Zombeck: Massachusetts Passes Cornerstone Homeowner and Tenant Protection Bill Thursday, August 12, 2010 @ 1:24PMMassachusetts is once again leading the pack in protecting consumers by passing legislation to protect families from getting thrown out of their homes. "An Act...
Gimme Shelter Thursday, August 12, 2010 @ 7:30AMHave you tried to get financing for a second home lately? Just lost an investment property because a long-time lending source was unable to find a loan to fit your needs?
$122M in mortgage aid headed to New Jersey Wednesday, August 11, 2010 @ 7:06PMTo try to help prevent more defaults, the Obama administration Wednesday said will send $112 million to New Jersey to design a program to help unemployed homeowners stay in their homes while looking for work.
This is a Backgrounder On Housing Wednesday, August 11, 2010 @ 5:50PMPublished on August 11, 2010 by Ronald Utt, Ph.D. Backgrounder #2450 Abstract: There is no question that there is much wrong with America’s housing finance and homeownership market.
Moody’s: Odds of a Double Dip Increasing, Prices Could Fall 20% Wednesday, August 11, 2010 @ 8:48AMIf the U.S. enters a double-dip recession, home prices could fall by another 20% before they stabilize in early 2012, according to a new forecast by Moody's Analytics.
ALL BUSINESS: Risks abound if too many refinance Friday, August 6, 2010 @ 1:07PMLots of homeowners are frustrated these days that they can't seem to get a mortgage refinance even though interest rates are at historic lows. It turns out they're not alone.
ALL BUSINESS: Risks abound if too many refinance Friday, August 6, 2010 @ 12:35PMLots of homeowners are frustrated these days that they can't seem to get a mortgage refinance even though interest rates are at historic lows. It turns out they're not alone. Plenty of people on Wall Street would also love to see a boom in refinancing... Mortgage - Refinancing - United States - Business - Financial Services
ALL BUSINESS: Risks abound if too many refinance Friday, August 6, 2010 @ 12:23PMALL BUSINESS: Homeowners win in case of mass mortgage refinancing, but no one else would
Obama's 'August surprise': A 'gigantic' Main Street bailout? Friday, August 6, 2010 @ 7:30AM"Main Street may be about to get its own gigantic bailout," says Reuters blogger James Pethokoukis, if Wall Street rumors of an Obama administration "August surprise" are true. The speculation is that Obama will order Fannie Mae and Freddie Mac to forgive a portion of millions of "underwater" home mortgages, costing the Treasury billions. (The Treasury says no such plan is in the works.) Will ...
Fannie Mae asks for $2b Friday, August 6, 2010 @ 1:17AMWASHINGTON - GOVERNMENT-CONTROLLED mortgage company Fannie Mae is asking for $1.5 billion (S$2.03 billion) in additional taxpayer aid after posting a smaller loss in the second quarter. Fannie Mae said on Thursday that it lost $3.13 billion, or 55 cents per share, in the April-to-June period. The results were the best since the company was put under federal control in September 2008.
Consultant: Federal Aid Program Failing Homeowners Thursday, August 5, 2010 @ 11:38PMA consultant says she was fired from Fannie Mae after she revealed the troubled financial institution was hindering -- not helping -- homeowners in trouble. She says Fannie Mae put its own agenda ahead of an Obama administration initiative to help homeowners avoid foreclosure. read more
Barry Zigas: Thanks, Hank Friday, July 30, 2010 @ 2:36PMThanks, Hank Former Treasury Secretary Henry Paulson weighed in today on reform of the housing finance system with an op-ed piece in the Washington Post...