Things I’d Like to Post About Today ….. (120108)

….. But I Don’t Have Any Time For: Coward of the Day Report — “Gunbattles and airstrikes by NATO and Afghan troops killed 53 militants in ... .. the regulation destroyed credit standards across the mortgage industry, created the subprime market [more...]

Date: 2008-12-01 10:55:26

Blog posts (626) | Videos (121)
 

Mortgage Rates following a Dismal Jobs Report

This mornings Jobs Report was ugly. 240,000 non-farm jobs lost in October (higher than the expected 200,000) and unemployment at 6.5% ... with a sales price of $500,000 and a loan amount of $400,000. Rates are priced based on a low-mid credit score [more...]

Date: 2008-11-07 16:48:53

Eastern Savings Bank

Eastern Savings Bank is not doing well these days according this news report. The Eastern Savings Bank of Hunt Valley, MD was listed as having a Texas ratio of 222.74, meaning ... -A" loans -- mortgages to buyers who had decent credit but provided little or no verification [more...]

Date: 2008-07-16 15:30:00

Friday’s Rates on Thursday

Huh?  Since tomorrow is Independence Day, the bond markets will be closed…so I thought I would provide you with mortgage rates on today ... with a minimum credit score of 720, “full doc” purchase with a sales price of $500,000 and a loan ... .   We also had the Jobs Report released today which reported a loss of 62,000 jobs [more...]

Date: 2008-07-03 18:00:27

TrailerParks Reporting

Do you ever wonder why the news networks are always referring to "bloggers" yet no one ever mentions us? ... and just for playing they get all their credit card bills paid off and their mortgage dropped two [more...]

Date: 2009-01-13 13:00:00

Fed Ponders Issuing Debt to Finance Its Mushrooming Balance Sheet

The Wall Street Journal, in a typically anodyne bit of reporting, ... rolling out ever more creative steps to unfreeze credit markets, it has sold or pledged a growing ... and securities dealers backed by mortgage-backed securities and other shunned collateral. This has led [more...]

Date: 2008-12-10 06:46:28

A Look at LIBOR Shows Bigger Credit Problems on the Horizon

By Keith Fitz-Gerald Investment Director Money Morning/The Money Map Report More than a year ago, even before the subprime-mortgage crisis had revved itself up into the full-fledged credit... Money Morning is here to help investors profit handsomely on this seismic shift in the global economy [more...]

Date: 2008-10-15 20:28:53

Refinances Booming? Not As Much As You Think

Discount all the reports you read about Americans lining up to refinance their mortgages and take advantage of the lowest rates ever ... , most often because their credit isn’t good enough or they don’t have sufficient home equity ... These are people who have good credit, who have had been in their homes a long time, people who already [more...]

Date: 2009-01-16 00:46:03

Bankruptcy reform *now*!

David Sirota:Back in December, I published a newspaper column looking at a little-noticed Federal Reserve Bank report showing that the Bankruptcy ... facing foreclosure or otherwise delinquent on their payments. Credit Suisse now estimates that 8.1 ... into delinquency within six months.Voluntary mortgage modifications do not work in part because many [more...]

Date: 2009-01-12 20:35:29

New blame emerges for mortgage crisis

Researches from the Federal Reserve Bank of New York have issued a report blaming the 2005 bankruptcy reform act for our current mortgage crisis ... . They say that the legislation, (which forced more well-to-do households, filing for bankruptcy, to file under Chapter 13 instead of Chapter 7), took the risk away from credit card lenders, shifting it [more...]

Date: 2009-01-13 22:03:02

The Sky Has Fallen: Now What?

Superstrategist Ed Yardeni is quoted by James Pethokoukis in US News & World Report on what could go right in 2009: (1) Lower mortgage rates fuel a refinancing boom which lifts consumer spending. (2) Home sales increase and home prices stabilize. (3) Easier credit conditions increase auto sales. (4) The drop in fuel [more...]

Date: 2009-01-14 15:51:36

William O’Donnell and others at financial giant UBS issued a report earlier in the week noting some reluctance by investors to buy government bonds ... the credit crunch, investors have demanded a greater premium on securities backed by mortgages, which means consumer rates are less tied to Treasuries than before. I asked O’Donnell if mortgage rates [more...]

Date: 2009-01-08 17:39:53

FHA Mortgage Lenders

Applying for a home loan for first time mortgage borrowers can be a daunting and treacherous task. An alphabet soup family of difference is used: FHA, HUD, VA, and some-more can report a loan ... from a lender to a FHA. If we have bad credit, no credit, or simply not sufficient income to put [more...]

Date: 2009-01-14 13:31:28

Shall We Call it a Depression Now?

Today's employment report, showing that employers cut 533,000 jobs in November, 320,000 in October, and 403,000 in September -- for a total of over 1 ... . And many are worried as well about their mortgage payments. So consumer spending is also falling off ... who are still good credit risks. Second, a stimulus package must be enacted right away. It needs [more...]

Date: 2008-12-05 14:58:00

Timothy Geithner: Obama's Teflon Treasury Secretary

by James Pethokoukis, USA News & World Report Who is Timothy Geithner that upon news of his impending nomination by Barack Obama, ... and Freddie play in the subprime mortgage bubble?" "What role has government policy played in creating the housing and credit crisis?" "How does tax policy affect economic growth?" "What should [more...]

Date: 2008-11-26 16:32:17

Friday’s Rates

Mortgage rates continue to be very volatile.  They are improved from last week’s rate report yet higher than the low point (mid 5’s for 30 year) ... properties).  The conforming rate quote below is based on owner occupied with a mid-low credit score ... .  Pricing based on credit score of 620 or better [more...]

Date: 2008-09-12 21:26:07

Right Question, Wrong Direction

Permalink | Email Author The title and subhead of an ABC News report from a bit earlier: Are They to Blame for the Meltdown? Congress to Grill Credit Rating Executives on Capitol Hill Today I wonder, when is somebody going to grill members of Congress over their responsibility for the mortgage meltdown? Our elected [more...]

Date: 2008-10-22 20:00:15

Mortgage Rates January 15, 2009

The Producer Price Index (PPI) came out and reflected virtually no inflation on the wholesale side of things ... payment, 740 credit scores, and verifiable income and assets. Rates vary based on borrower profile ... of this report will likely have a significant affect on the markets. I would say that today is a good [more...]

Date: 2009-01-15 20:03:13

Market Update 01/19/2009

Market Comment Mortgage bond prices fell last week pushing rates higher despite continued signs of economic weakness ... the credit crisis. Consumer sentiment came in surprisingly better than expected despite headlines ... indicator of the state of our economy. This report, provided by the Bureau of the Census, takes [more...]

Date: 2009-01-16 21:27:51

++ 4,200 Barclays jobs to go ++

The horrors of the Brownian job losses continues, as the Times is reporting that Barclays is adding another 2, ... losing their home thanks to the unethical repossession policies of mortgage lenders ... these 4,200 poor souls.  Almost 12 years of Brown’s debt-fuelled boom (and the credit crunch [more...]

Date: 2009-01-14 15:22:19

Warren's Oversight Panel: First Report Out; Republicans Already Squawking

Surprise! The initial report by Elizabeth Warren’s TARP oversight panel, out yesterday, is not a product of bipartisan harmony: ... s efforts to unfreeze credit markets, they have split the oversight panel along party lines, raising ... his original plan to buy toxic mortgage assets, instead using most of the funds for boosting capital [more...]

Date: 2008-12-11 09:29:47

A Mortgage Fact Pack

From Freddie Mac. Lots of interesting stuff there, including a breakdown that says that over 15 percent of some of their riskiest loans are ... loans--there may be others on the hook to take credit losses before Freddie does. If I read ... investment-quality loans. Hmmm... Here is a comparable report from Fannie Mae. [more...]

Date: 2008-11-10 21:02:47

Bill Would Make Ratings Agencies Share Liability

A key House lawmaker wants to make credit rating agencies — which have been widely criticized for failing to give investors adequate warning of the risks in subprime mortgage securities that triggered the financial crisis — responsible for each other’s assessments by holding them collectively liable for inaccuracies.The Associated Press reported that a new draft bill by the lawmaker, Representative Paul Kanjorski, a Pennsylvania Democrat, includes a plan meant to address what critics contend is [more...]

Date: 2009-10-01 09:07:48

Gov’t and Economic Interests as Bedfellows

Recently there have been a number of observers from all corners of the political spectrum increasingly worried about the growing collusion between Washington, DC and the powerful economic interests in our country. The discourse on this issue reminds me of the “governmental support” German economist Wilhelm Röpke spoke of in A Humane Economy : “The market and power do not go well together, and anyone who wished to use his strong position vis-à-vis some buyer or seller to establish a dominating [more...]

Date: 2009-10-01 16:44:41

Is the 6-month Stock Market Rally About to End?.

by Bob Chapman Global Research October 1, 2009 The G-20 Pittsburg Summit ended last Friday. Their official statements made for some novel and interesting reading. We were informed that the group could by working together could manage a transition to a more balanced pattern of global growth. Tending to domestic demand as private savings increase. It is obvious to us this cannot work. We are seeing increased savings and decreased consumption. The IMF as well agrees with these policies. [more...]

Date: 2009-10-01 17:54:55

Understanding How An Escrow Account Works and If You Should Avoid Them

An escrow account is established by a broker, under the provisions of law, to hold funds on behalf of two or more people until a contract or transaction has been completed.  People are most familiar with escrow accounts in conjunction with their mortgage.  A person’s mortgage lender sets up an escrow account to receive monthly payments from the home buyer which is usually lumped into the mortgage payment and used to pay for obligations such as homeowners’ insurance, property taxes, and assessments. [more...]

Date: 2009-10-01 12:00:44

Most People Think a Rising Housing Market Makes Them Richer

The Daily Reckoning Houses bounce too… Not much happened yesterday. The Dow fell 47 points. The newspapers attributed the reversal to surprisingly low consumer confidence numbers. Apparently, consumers aren’t so sure this crisis is over. As we reported yesterday, they’re saving money…maybe even at an 8% rate. Oil didn’t move yesterday. Neither did gold. The Wall Street Journal reported that markets were reacting to “mixed data.” That is to say, some reports were encouraging. [more...]

Date: 2009-10-01 02:38:40

Most People Think a Rising Housing Market Makes Them Richer

Houses bounce too... Not much happened yesterday. The Dow fell 47 points. The newspapers attributed the reversal to surprisingly low consumer confidence numbers. Apparently, consumers aren't so sure this crisis is over. As we reported yesterday, they're saving money...maybe even at an 8% rate. Oil didn't move yesterday. Neither did gold. The Wall Street Journal reported that markets were reacting to "mixed data." That is to say, some reports were encouraging. Others were not. [more...]

Date: 2009-10-01 01:00:48

The House Bounce?

Houses bounce too… Not much happened yesterday. The Dow fell 47 points. The newspapers attributed the reversal to surprisingly low consumer confidence numbers. Apparently, consumers aren’t so sure this crisis is over. As we reported yesterday, they’re saving money…maybe even at an 8% rate. Oil didn’t move yesterday. Neither did gold. The Wall Street Journal reported that markets were reacting to “mixed data.” That is to say, some reports were encouraging. Others were not. [more...]

Date: 2009-09-30 20:00:05

Hispanic y Latino News/Info :: September 30th, 2009 :: 5 Minutes to Empowerment

Essentials --» Jose Hernandez tweeting from space bilingually – follow him – cool! :: from twitter.com Dispelling bias against Latinos – Complicating and confounding efforts to reform the country’s immigration laws are widespread portrayals of Mexican immigrants as a threat to national culture and unity :: from www.recordnet.com The foreclosure crisis has brought a particular set of issues to Latino immigrants in the Kansas City area. [more...]

Date: 2009-09-30 18:59:08

Is Obama Fulfilling ACORN’s Agenda?

Here is a copy of ACORN’s so-called People’s Platform , via the Internet Archive’s Wayback Machine, which we first posted back on October 16, 2008 . As is noted below, this platform was updated in 1990 in Chicago, which was just two years before Mr. Obama began to work for the organization via Project Vote and as a trainer for their "power" seminars. Note how many of ACORN’s demands are being accomplished by Mr. Obama since he has assumed office. [more...]

Date: 2009-10-01 04:00:00

Mortgage Refinance With Bad Credit Options: Reveal All The Hottest Tips Here!

by Asem Eltaher Among the top ten hot topics of 2008-2009 is the relief for homeowner’s high mortgage payments. Foreclosures at an all-time high and many are getting further behind each month creating a large market for mortgage refinance with bad credit. The Mortgage Banker’s Association states the newest information on foreclosures shows the decline is still pacing downward. The percentage of homeowners facing default can rise higher by 2011, if relief is not available. [more...]

Date: 2009-10-01 09:00:20

Mark Turner Russell Edgar: Turners Bar Complaint Response Back to Edgars Comments

There has been a lot of conversation here at Maggie's Notebook about Mark Turner, a man living in the Pensacola, Florida area. At the bottom of this post, you will find links to the background of Mark Turner's case. Today, I want to focus on complaints Mr. Turner made to the Florida Bar. When a citizen feels they have been unjustly treated by the justice system, they can file a "Bar Complaint" with the State's Bar - the organization that generally registers and tracks lawyers in the area. [more...]

Date: 2009-09-30 22:16:00

Mortgage Refinance With Bad Credit: Reveal All The Hidden Secrets Here!

October 1, 2009 | By Asem Eltaher In Finance | by Asem EltaherAmong the top ten hot topics of 2008-2009 is the relief for homeowner’s high mortgage payments. Foreclosures at an all-time high and many are getting further behind each month creating a large market for mortgage refinance with bad credit. The newest data from the Mortgage Bankers Association reveals fewer foreclosures are being reported. Unless there are new strategies for relief the rise could be higher than now by the year 2011. [more...]

Date: 2009-10-01 09:01:06

What Is Cesi Debt Free?

by Melinda Harni Each of these websites provides extensive information on different aspects of debt: how to get out of debt, control debt, and on matters related to housing counseling. This is significant, keeping in mind the recent economic recession. Together, all three websites provide all-inclusive information, complete with statistics and figures, in keeping with the CESI philosophy of empowering the consumer on financial matters through knowledge. [more...]

Date: 2009-09-30 23:43:05

Doing What It Takes To Get A Mortgage Loan

Oct 1st, 2009by Crystal Guthrie. by Crystal GuthrieWhen it comes to getting a mortgage loan, it is important to understand that lenders consider more than just your income when determining whether or not they will give you the loan you are requesting. While other factors have always been used when making this determination, the factors that are taken into consideration have grown even more stringent due to the current state of economy. [more...]

Date: 2009-10-01 09:39:44

Senate Climate Battle Is On

Progressive Breakfast: Senate Climate Battle Is OnProgressive Breakfast10/1/09 7:11 AM Isaiah J. Poole Health Care for All An Economy for All 501c(3) Progressive BreakfastThe legislative battle to lower greenhouse gas emissions is finally getting into full gear in the Senate with Wednesday’s introduction of a comprehensive climate change bill.McClatchy News Service reports:The landmark legislation — called the Clean Energy Jobs and American Power Act — would force the U.S. [more...]

Date: 2009-10-02 00:03:18

Mortgage Interest Rates Hit New Lows

Mortgage interest rates are sitting at about the lowest they have ever been. The averaged 30-year fixed rate loan is hovering at about 4.97% and the average 15-year loan is sitting at just 4.25% as of the week of September 25 th , 2009. These banner rates will be available to consumers with good credit scores, have significant home equity, and know how to shop around for the best deal. If you meet this criterion, it’s an absolutely great time to refinance your loan. [more...]

Date: 2009-09-30 17:45:59

The Complete List Of Round 2 Magnificent 7, Head To Head

10 Frugal Steps To Help You Survive A Tough Economy by Digerati Life A buyer’s right to do “an additional inspection” by Ardelle DellaLoggia Click ... BUYERS by Roberta Murphy  Credit Scores - Why Your Number Matters by Salt Lake Real Estate Blog: 10 Laws of Moving for Aging Parents and Their Families by Real Sage Advice How a Buyers Agent Can [more...]

Date: 2009-01-16 19:06:17

Credit Crisis Sequel, Global Bank Bailout, Emerging Markets Still a Buy?, Gas Wars and More!

by Addison Wiggin & Ian Mathias Ghosts of the fourth quarter haunt global financials… so begins the second act of the credit saga Even the ... -Ukraine gas dispute not yet over… a reader provides firsthand account And… action ... $30 billion to stay afloat, analysts at Morgan Stanley predicted today. According to Morgan’s report [more...]

Date: 2009-01-14 07:36:46

Australian Banking Majors Rank At The Bottom Of Customer Satisfaction Survey

Customers of the Big Four banking groups have expressed the lowest customer satisfaction levels in Australia, with most account holders being too ambivalent to switch to a different service provider, the results of a new survey reveal. After taking into consideration fees, interest rates and customer service amongst other things, the Big Four banking groups, which include Westpac, CBA, ANZ and NAB ranked at the bottom of a list containing 14 different lenders. [more...]

Date: 2009-10-01 11:01:36

Australian Banking Majors Rank At The Bottom Of Customer Satisfaction Survey

Customers of the Big Four banking groups have expressed the lowest customer satisfaction levels in Australia, with most account holders being too ambivalent to switch to a different service provider, the results of a new survey reveal. After taking into consideration fees, interest rates and customer service amongst other things, the Big Four banking groups, which include Westpac, CBA, ANZ and NAB ranked at the bottom of a list containing 14 different lenders. [more...]

Date: 2009-10-01 05:30:29

Mortgage Calculators Can Be Invaluable When Comparing Loans

by Matthew Eccles Are you looking for some inside information on free mortgage calculators? Here’s an up-to-date report from mortgage calculator experts who should know the formulas used to calculate mortgage payments. Mortgage calculators can be found on a numerous websites. Lots of these websites are run by banks and mortgage lenders and others are run by those who just wish to provide internet users with helpful information. [more...]

Date: 2009-10-01 20:02:15

Mortgage Delinquencies Rising – Analyst Blog

Two of the main banking regulators, the OCC and the OTS, jointly released data on mortgage performance in the second quarter today, and the news was not good. The report covers 34 million individual first mortgages totaling about $6 Trillion. All types of delinquencies were up, but most distressing was the information about serious delinquencies, or mortgages that are more than 60 days past due. They reached 5.3% of all mortgages, up from 4.7% in the first quarter, an increase of 11.5%. [more...]

Date: 2009-09-30 20:08:12

Turning Japanese I really think so

As most of you probably already know, with the "effective" Fed funds rate much closer to zero percent than to the one percent prescribed by the " ... bets that are bound to inflate another asset class eventually. As discussed in this report ... to banks and others to loosen up the credit markets, creating more reserves than it can drain. So to keep [more...]

Date: 2008-11-16 21:20:31

Rates for Friday Afternoon

Mortgage rates are much improved since what I posted last week.  Wednesday and Thursday were rough on the markets as traders braced (and rightly so) for a stinky Jobs Report.  Bad news typically (but not always these days) equals lower rates ... quote below is based on owner occupied with a mid-low credit score of 720-739, “full doc” purchase [more...]

Date: 2008-11-07 21:38:07

Bad Credit Financing On Mortgages: Reveal The Truth Here!

by Asem Eltaher 2009 is the year to refinance since the FEDS brought down rates at the beginning of the year. Pushing rates down to the 5% range and now to 4% making this the best time to apply for relief, especially when you are getting deeper in debt and have impaired your credit. Homeowners can apply for bad credit financing that is helping relieve some of the load. Lenders use experience to solve debts with a mortgage refinancing and personal loans for bad credit. [more...]

Date: 2009-10-01 10:43:45

Reinventing America

America faces serious challenges to maintain its storied status quo. Hurdles include a sinking economy, wars in Iraq and Afghanistan, the rising cost of education, global warming, a crumbling infrastructure and American workers with uncertain futures. Trendwatchers are more acutely aware of these issues than most, but they’re also more hopeful [more...]

Date: 2009-01-13 09:40:59

Don't follow Japanese example - stocks are NOT cheap

Thousands of Japanese households are pouring their savings into stocks and other risky investments. It is the last stance of greed. Easy money ... on the street before Obama takes office. The economy is going to contract by at least 27% (check my article ... % and corporate bonds may turn out as junk. We are looking at a fundamental shift not only [more...]

Date: 2008-11-07 15:12:21

Boston sales inventory fell by the largest amounts of any major city

But it’s not all good news. PRESS RELEASE: The Altos 10-City Composite Price Index showed a decline in asking prices of 0.8% in November and 2 ... according to the Real-Time Housing Market Report, published by Altos Research, the premier source ... increases. “Tight credit, job losses and plunging consumer confidence continued to pressure listing [more...]

Date: 2008-12-11 16:42:32

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