The End of Large-Bank Wholesale Lending - Time For the Mortgage Banker

The End of Large Bank Wholesale Lending - A Resurgence of Middle Market Mortgage Banking – Chase…a Leading Indicator This week Chase shut down ... t effectively manage its pipeline of locked and in-process loans. Of note, Credit Suisse recently shut down ... because NMN is subscription - sorry: “As the refinancing boom gathers steam selected residential [more...]

Date: 2009-01-16 18:23:12

Blog posts (401) | Videos (131)
 

If You Were Sec. Paulson for a Day: A Foreclosure Clearing House?

On one of many flights this week I was asked the question, “what would you do with the $700 billion of bailout money? ... more to the story but for the sake of brevity we’ll leave it at that. 2) Credit liquidity in the current market ... by the government buying up the bad assets, giving capital to the banks in return for equity stakes [more...]

Date: 2008-11-13 16:32:03

Auto Refinance Loan – How To Get The Cheapest One

These are difficult economic times and people nationwide search for alternatives in order to make manageable their monthly finance, ... suggesting - included car refinance loans - and, the Bad Credit Car Loan center of resources. Find ... . Secondly, if you got your car but at that time your credit score was not as good as today [more...]

Date: 2008-12-31 07:33:49

Mortgage Rates Drop! It Does Not Mean What it Used to

Fed announcement, 30-year fixed were roughly 6%. As of today all of the hype that low rates are going to save housing is about less than ... . The 5.5% rates that are making everyone so giddy are what’s known as ‘base-rates’ for perfect credit ... .  Perhaps two years ago when when house values were soaring, credit was easy, the mortgage market [more...]

Date: 2008-11-26 17:09:00

Don't Allow Yourself To Become A Victim of Bad Real Estate Practice

This woman made herself a victim stayed in a hotel for 7 weeks looking for my "Dream Home." And, when I found it, even though it wasn't in my price range, I knew I would do anything I could to get it. I was vulnerable, emotional and became a victim. Actually, that is not quite accurate - I made myself a victim [more...]

Date: 2008-08-08 13:55:58

The Brakes Are Not Working In California

The LA Times reports from California. “A record 10% of the nation’s mortgage-burdened homeowners fell behind on their loan payments or were in foreclosure during the third quarter, according to a survey released Friday by the Mortgage Bankers Assn., which said California and Florida were the biggest contributors to the worsening picture [more...]

Date: 2008-12-06 18:15:59

Commercial Real Estate Mortgages - Basics to Getting Your Loan!

There is quite a difference in the process of obtaining a commercial real estate mortgage versus obtaining a loan to buy or refinance residential ... person” separate and distinct from its owners/shareholders. It has its own credit rating ... . They have made good money and feel they are now in a stronger credit position and would [more...]

Date: 2008-11-23 06:01:14

Adjusting To New Economic Realities

It’s Friday desk clearing time for this blogger. “After George Zito’s mother passed away, he put her East Haven home on the market. That was 6-months ago. And, still, there are no prospective buyers. The four bedroom was originally listed at $187,000. ‘We just lowered the price by over $40,000,’ Zito said [more...]

Date: 2008-08-29 20:37:49

Credit Suisse forecasts more than 8 million mortgages will go through foreclosure over the next four years. That’s roughly 16% of U.S ... . All things being equal, Credit Suisse estimates 1.8 million mortgages will have entered foreclosure ... interventions (such as the Hope for Homeowners FHA refinancing program) could help to reduce the march [more...]

Date: 2008-12-22 11:00:24

Refinancing When You Owe More Than The Home Is Worth

I've been looking around for an answer to this but my searches haven't returned anything useful ... ? Was all the refinance hype only because the markets kept going up? Is this the reason why people who got an bad loan ... to the utter limit for 100% financing could refinance into more favorable loans as their equity picture [more...]

Date: 2009-01-08 09:54:12

MortgageNewsClips: No Help for Jumbos, McCabe & Bogle, Clear The Way, Offshore, Caroline Baum, Salmon on Warren, 169 Failed, Treasury Calendar, GMAC, Jody on CES and Mods, Auction, MBS Purchase Plan 3, Ira Has 5

  Lower Rates Aren’t Helping Jumbo Loans - Kathleen M. Howley - The Record (Bergen County, NJ) -  KnowledgePlex ———— [ ... . -  Bloomberg 2.  Fed Study Finds 169 Mortgage Finance Companies Failed Last Year - Craig Torres - … The data signal the waning of lightly regulated mortgage lenders that thrived with funding [more...]

Date: 2009-01-01 16:53:28

FDIC Underestimated The Risks Of Falling Home Prices

With so many lenders looking shaky these days, it brings up the question of how well prepared the FDIC is to deal with lender failures ... possible. Apparently the wave of refinancing that occurred after interest rates lowered ... concerns (Home Equity Line of Credit), but adressed concerns with the mortgage industry in general [more...]

Date: 2008-07-23 07:02:00

The Asian Response

10 ASEAN nations planning for a crisis fund to tap from if they face severe liquidity crunch due to global financial crisis; Fund can also be used to purchase bad assets, recapitalize troubled financial institutions ... : Raised cap and credit cost on external borrowing of firms; cut interest rate 100pbs [more...]

Date: 2008-10-29 16:09:00

Carnival of Personal Finance #179 - Smile Edition

Welcome to the 179th edition of Carnival of Personal Finance. This week, I want to remind everyone to smile because there’s never enough happiness in the world! Editor’s Choice Photo By Richard M. Reading these articles just brings a huge smile to my face! Great positive advices are what we should all be writing about! [more...]

Date: 2008-11-17 08:01:51

Is an Adjustable Rate Mortgage a Good Idea - A Look at How Adjustable Rate Mortgages Hurt Borrowers

The Ugly Truth About Adjustable Rate Mortgages Adjustable rate mortgages are very appealing to many home owners because they offer a low initial ... to fall behind. This in turn causes their credit scores to drop and in the end they are unable to refinance due to missed payments and bad credit. Another common cause of trouble with adjustable rate [more...]

Date: 2008-11-28 06:01:06

Good Job, America!

President-elect Senator Barack Obama his wife Michelle and their daughters Malia (2nd R) and Sasha wave to supporters at his election night rally after being declared the winner of the 2008 U.S. Presidential Campaign in Chicago November 4, 2008.REUTERS/Jim Bourg Click here for complete resultsBlack Man Given Nation's Worst JobThe [more...]

Date: 2008-11-05 13:10:00

Car Loan Refinance - How to Avoid Dealer Scams?

div style=’float: right; width: 100px; padding: 5px; margin: 5px; background-color: #FFFFCC;’font size=1font color=’#cc0000′bTip! ... the application process. You don’t need to go through a third party, even if you have bad credit ... available that allow you to call from home or the showroom for pre-approval on your car loan./font [more...]

Date: 2009-01-15 17:15:29

Did Racism Help Cause the Mortgage Crisis? The Rise of Sandy Weill and Citigroup

Photo: United for a Fair Economy The State of the Dream Sandy Weill’s story tells how racially-biased predatory lending lies at the center of the ... in his chips and set about looking for his own business. In 1986 he settled on a Baltimore loan company named Commercial Credit that specialized in predatory lending. The tale of how Weill would use [more...]

Date: 2008-12-11 16:53:16

Hard Times

Hard Times - by Stephen Lendman Hard and troubled. Racked by fear and uncertainty. For many trauma. Experts predict, speculate and conjecture, but no one knows for sure what's ahead. Key questions are whether we're in a protracted and severe recession. Or at the onset of another Great Depression. So much is unresolved [more...]

Date: 2008-10-20 10:13:23

Four at Four: A Little Confidence

It could have been worse. The Dow industrials closed down 200 points after swinging in a 400-point range during the session, ... , but the clues remain in the credit markets. In that respect, there are nascent signs of a thaw, as the yield ... a reduction of stress in credit markets. The market will look tomorrow to the early word on LIBOR rates [more...]

Date: 2008-10-08 11:01:00

AIG CEO Demands Apology from Mad Money’s Jim Cramer

WSJ Deal Journal Related: The credit crunch means that consolidation looms for Mirant and Calpine as well. Bloomberg ... its banks. WSJ More bad news: Banking bosses weigh in on bonuses and job losses. Times ... is wreaking havoc on a large but little-known corner of the credit markets, which could mean more write-downs [more...]

Date: 2008-10-20 12:57:00

Advantages of commercial SBA loans

A commercial Small Business Administration (SBA) loan is more helpful in assisting small business owners ... as a balloon payment because of its large size. This payment generally requires refinancing at the end of the period. Refinancing in turn includes additional financing fees, legal expenses, and closing costs [more...]

Date: 2009-01-08 02:43:51

As The Politicians Battle It Out Ukraine's Economy Tunnels South In Search Of Australia

“In Ukraine, the evidence is still that policymakers do not quite understand the seriousness of the challenges they face,”. Timothy Ash, analyst at the Royal Bank of Scotland. “There is a burgeoning economic crisis in the European periphery,” Krugman said on the ABC network Dec. 14. “The money has dried up [more...]

Date: 2008-12-25 16:01:00

As The Politicians Battle It Out Ukraine's Economy Tunnels South In Search Of Australia

“In Ukraine, the evidence is still that policymakers do not quite understand the seriousness of the challenges they face,”. Timothy Ash, analyst at the Royal Bank of Scotland. “There is a burgeoning economic crisis in the European periphery,” Krugman said on the ABC network Dec. 14. “The money has dried up [more...]

Date: 2008-12-25 16:00:00

As The Politicians Battle It Out Ukraine's Economy Tunnels South In Search Of Australia

“In Ukraine, the evidence is still that policymakers do not quite understand the seriousness of the challenges they face,”. Timothy Ash, analyst at the Royal Bank of Scotland. “There is a burgeoning economic crisis in the European periphery,” Krugman said on the ABC network Dec. 14. “The money has dried up [more...]

Date: 2008-12-23 19:21:00

Mortgage Demand Up: Now What

According to the Mortgage Bankers Association, mortgage applications hit a five year high last week.U.S ... only those with a perfect credit profile can now get financing, it isn't clear what lowering ... and the Federal Home Loan Banks.Now, I have long said that the best way out of this recession [more...]

Date: 2008-12-25 21:11:00

Public Enemy Number One

Public Enemy Number One - by Stephen Lendman A note before beginning. This article focuses on today's financial and economic crisis. Not affairs of state, war and peace or geopolitics. No guessing who's number one under those headings. That said: With so many good choices, it's hard just picking one [more...]

Date: 2008-10-27 10:19:12

A Matter Of Dishonesty

Some housing bubble news from Wall Street and Washington. MarketWatch, “Home-builder executives said at an industry conference Thursday that they’re making progress clearing out excess inventory, but warned that a recession and spiking unemployment could stop that advance in its tracks [more...]

Date: 2008-06-19 18:42:44

Personal Finance Money Tips Q&A #1

This is the first post of the regular questions and answers series. If you have any question, please try our forum ... . To me, I have bad experience with a local bank (not good to disclose here, just call it Bank A) - poor service and slow respond. I am refinancing the home loan to HSBC and Bank A keeps giving trouble [more...]

Date: 2009-01-08 23:00:50

Pass AB1830 To Help Fix The Financial Crisis

The big story today continues to be the Bush/Paulson bailout bill, which is now being debated on Capitol Hill ... something very bad, but she does hit the real genesis of the crisis. In addition, we must get to the root of the housing crisis and work to keep people in their homes through refinancing; if we don't [more...]

Date: 2008-09-23 18:41:14

A Quick Note

A Quick Note del.icio.us TRACK TOP Posted on December 21st, 2008 by BadIdeaGuy. Filed in Bad Ideas, Feeding Seagulls, PC World ... up over the causes of the mortgage industry collapse and its chain reaction in the overall credit ... he bears some blame, and he certainly took credit for increased homeownership stats) But I know why [more...]

Date: 2008-12-22 02:11:49

Be Careful When Comparing Mortgage Rates

Most people know it’s important to compare mortgage rates before they purchase or refinance a home ... or refinancing their home but, there are some things you didn’t think about or just don’t know. You may ... try to avoid having your credit run until you’ve decided between 2-3 lenders. You can request a pre [more...]

Date: 2008-11-08 19:41:11

More from the Front Lines of the Financial Crisis

In its latest economic outlook, Merrill Lynch economists "worry about inflation, or more precisely," a lack of it. From crashing global equity markets, falling commodity prices, rising unemployment, stagnant wages, over-indebted households, declining production, the continuing housing crisis, and more [more...]

Date: 2008-11-10 15:11:27

Guest Post: Obama Plan Is Bold, but Not Bold Enough

As details emerge about the incoming Obama administration’s stimulus plans, Peter Boone and Simon Johnson argue that proposals should be even bolder. Boone is chairman of Effective Intervention, a U.K.-based charity, and a research associate at the Centre for Economic Performance, London School of Economics, [more...]

Date: 2009-01-07 09:09:48

The Wait Continues

The Eagle Tribune reports from Massachusetts. “The number of new homes being built in Salem has hit a 30-year low ... They’re waiting until the demand for new houses picks up,’ Mackey said.” “The bad economy has put ... and the rest of New England. ‘It’s clear that the market was overbuilt,’ he said. ‘Easy credit [more...]

Date: 2008-11-10 15:25:58

How To Refinance Commercial Mortgages

Commercial mortgages are often taken by people when they need money in order to invest in some commercial venture ... for refinancing. Although commercial lenders do not prefer providing refinancing to people who have bad credit ... commercial mortgages, which may have piled over time. By obtaining refinancing people will be able [more...]

Date: 2008-12-15 19:04:37

Shock & Awe! - NOI Gets Bombed

Noah and I have been talking ad nauseam about the imminent threats to the New York City land market, ... of the tentacles of the credit debacle going back quite a stretch. We opined over and over that job losses ... of the bad news, but sprinkled in with the positive sound bites are some honest comments [more...]

Date: 2009-01-09 00:25:02

WaMu’s New $1 million 5-year 1% Balloon Loan (mod) - $878 Per Month!

1/5/09 - EFFECTIVE IMMEDIATELY - Modified Loans are Ineligible For Fannie/Freddie Refi’s, while FHA MAY Be Eligible ... for conforming loan financing.” All Sorts of Consequences This has all sorts of consequences ... . In my experience, most mods result in one of more of their definitions of ‘restructured.’ A restructured loan [more...]

Date: 2009-01-12 17:52:15

John McCain on John McCain

#fullpost{display:inline;}John McCain:I know what fear feels like. It's a thief in the night who robs your strength. I know what hopelessness feels like. It's an enemy who defeats your will. I felt those things once before. I will never let them in again. I'm an American. And I choose to fight.Don't give up hope. Be strong. Have courage. And fight [more...]

Date: 2008-10-18 03:43:00

Henry Paulsen as Mary Bailey

The disjointed and ad hoc reaction of the Bush administration to this mortgage crisis stands in ... that -- just as today -- credit was frozen for home lending institutions. It empowered the Federal Home Loan Bank ... not be saved by refinancing, if home owners had to wait for home values to rise. So, it [more...]

Date: 2008-11-30 05:27:22

Homeownership: Is a High Homeownership Rate Good Policy? No. Examining 3 Cycles of Homeownership Data over 100 years and Implications for the Economy.

The current housing crisis has left us with an opportunity to examine the driving issue behind a high homeownership rate ... of principal before a balloon payment was due when the loan matured or was refinanced.  Refinancing ... of thousands of banks and other lenders contributed to the difficulty of refinancing, as customer relationships [more...]

Date: 2009-01-08 08:06:45

An Article from John Hussman Ph.D.

We have long admired the straightforward analysis of John Hussman Ph.D. of Hussman Funds. His weekly market commentary is always insightful and he defends his logic with great data. This weeks commentary is a must read as he discusses the NYT Op-Ed by Warren Buffett and what the impassioned rebuttals to it really tell us [more...]

Date: 2008-10-21 16:52:02

Tips About Mortgage Refinancing

A mortgage loan refinancing could work in your favor if you’re looking for upfront cash for a large purchase or a major unexpected expenditure ... for bad credit re- mortgage loan . Research and compare loan mortgage loan refinancing rates before ... dollar of your pay check every month or you could optimize monthly payments towards your auto loan [more...]

Date: 2008-11-27 08:33:29

Mortgage: 3 Tips On Finding The Cheapest Rates

There are a lot of things to do when looking to buy a home but the most important is to get the most interesting mortgage loan rates available on the market. When applying for a loan, having a high credit score allows you to have a number ... one. Important: in some countries there are only established only two kinds of credit score: the good [more...]

Date: 2009-01-17 12:34:42

Help On Mortgage Refinance Online

A mortgage refinancing could work in your favor if you’re looking for upfront cash for a large purchase or a major unexpected expenditure ... of your pay check every month or you could optimize monthly payments towards your auto loan, credit card ... who goes for mortgage refinancing every single year especially for bad credit re- mortgage loan [more...]

Date: 2008-11-19 07:44:31

"The Acceptable Lust"

From the Sacramento Bee: Sacramento-area home sales tailed off slightly in August from their July highs, while median prices in Sacramento County, ... fast the past two weeks. But here's the bad news: Those in need most of refinancing probably can't ... of $387,000.From the Sacramento Bee: The refinancing wave is on. Prompted by the financial chaos [more...]

Date: 2008-09-18 20:46:00

Can the TALF Return Demand to the Markets?

Can the TALF Return Demand to the Markets? Posted by: admin in mortgage industry We can now enter a new acronym into our lexicon: TALF ... include student loans and car loans, which under normal conditions are packaged and sold to investors ... are causing banks, take a look at the chart below. FDIC bad consumer loan charge offs [more...]

Date: 2008-12-02 15:00:36

Can the TALF Return Demand to the Markets?

Can the TALF Return Demand to the Markets? Posted by: admin in mortgage industry We can now enter a new acronym into our lexicon: TALF ... include student loans and car loans, which under normal conditions are packaged and sold to investors ... are causing banks, take a look at the chart below. FDIC bad consumer loan charge offs [more...]

Date: 2008-12-07 21:00:28

The Real Reason Citigroup Is a Mess

Citigroup CEO Vikram Pandit is blaming his company’s considerable troubles on moves by previous management to dive into real estate ... . Citigroup, like others, simply got caught up in the complicated market of derivatives and credit ... rates, misleading terms, unnecessary and expensive products like credit insurance, and the rest [more...]

Date: 2008-11-26 15:00:31

Don't Bail out Wall Street; Re-invigorate Main Street

Needless to say, Messrs. Paulson and Bernanke's $700 billion rescue package has ruffled a few feathers on Wall Street, Main Street, ... are losing sight of the main point: frozen credit markets inhibit small and large businesses from borrowing money, people of all economic strata from buying apartments and houses, and those [more...]

Date: 2008-09-25 04:57:37

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