George Bush on the mortgage crisis: "How did we get here?"
It was Sept. 18. Lehman Brothers had just gone belly-up, overwhelmed by toxic mortgages ... terrifying news: The credit markets, gripped by panic, had frozen overnight, and banks were refusing to lend ... policies that directly encouraged the real estate bubble and subsequent crash. While report [more...]
Date: 2008-12-21 18:38:03
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Compare Credit Cards for Best Deals
Now is not the time to be spending unnecessary money; ... and what that means not only to our cash flow but our credit report. Further, the fees that we wind up paying ... possible for us to shave money off of payments including lowering the interest rate on our mortgage through [more...]
Date: 2009-01-09 04:07:57
Arizona Mortgage Rates October 17, 2008
Arizona Mortgage Rates for October 17, 2008 Mortgage Related News This week we ran into more than one person who was interested in what lenders ... include: Must be a second home 400,000 max loan amount 75% Loan-to-Value International credit report ... are able to provide loans for Canadian Nationals. After some local discussion between [more...]
Date: 2008-10-17 16:18:20
Mortgage: 5 Elements To Know Prior To Purchasing A Home
While buying a house is a stimulating effort in a lifetime, it is for sure not something you want to rush into ... of your credit report several months before you begin shopping for a home so you know what to expect ... . Here are 5 important elements to consider before buying a house. 1. Clean your credit record [more...]
Date: 2009-01-02 14:13:35
Fannie teed up. Are you teed off?
Housing headlines of note in today's Los Angeles Times Business section: --"Fannie regrets golf excursion," ... not dispute the report, described the event as a mortgage industry customer meeting held twice ... for the quarter would fall by half to $1.5 billion. -- Lauren Beale Your thoughts? Comments? Photo credit [more...]
Date: 2008-11-05 20:53:11
Told Ya
Oh, go on, we earned it! David Sirota: Please forgive me for saying it ... left to pay the mortgage. The Fed’s report estimates that the bankruptcy bill is causing 32,000 ... and boost the economy. They told us that a trillion-dollar Wall Street bailout would solve a credit crisis [more...]
Date: 2008-12-15 12:22:16
Morgage Bond Purchases Start Strong
By PRABHA NATARAJAN and BRIAN BLACKSTONEThe Federal Reserve bought $10 ... report. Borrowing through the Fed's discount window by commercial banks, known as primary credit ... .213 billion of mortgage securities backed by Fannie Mae, Freddie Mac, and Ginnie Mae in the first [more...]
Date: 2009-01-11 17:07:00
Foreclosures Skyrocketed in 2008
Foreclosures Skyrocketed in 2008 US home foreclosures rose an astonishing 81% in 2008. Not surprising given the fact that the credit crunch and mortgage crash were the two main ... , chief executive officer of RealtyTrac, said in the report. Foreclosure activity did slow [more...]
Date: 2009-01-15 14:02:20
Home Sales and Prices Drop in October
From Bloomberg: U.S. Economy: Home Sales Fall, Record Drop in Prices Home resales in the U.S ... by the credit squeeze and record mortgage foreclosures. That may raise pressure on President-elect Barack ... forecast, a National Association of Realtors report showed in Washington. The median price fell 11.3 [more...]
Date: 2008-11-24 21:53:39
Commonsense Regulatory Ideas Ignored Prior to Mortgage Meltdown
What continues to bother me about the financial crisis is that so many people saw the warning signs and yet so many others refused to pay attention to the risks. A new AP report reveals the extent to which the Bush administration ... 2006: Regulators told bankers exotic mortgages were often inappropriate for buyers with bad credit [more...]
Date: 2008-12-01 14:25:05
Friday’s Rates following the Rescue/Bail Out
There have been so many factors that typically influence the direction of mortgage rates over this past week, it’s amazing. Just this morning we had another dismal Jobs Report with a greater loss than expected ... credit score of 720-739, “full doc” purchase with a sales price of $500,000 and a loan amount [more...]
Date: 2008-10-03 21:29:05
Nightly (Value) Investment Links #51
As Always Click on Titles To Access The Article Newspapers & Direct Sources: 1. A Time For Contrarian Investors - Via Financial Post 2. Credit Suisse Pays Top Execs With Illiquid Mortgage Securities - Via Clusterstock ... Telegraph.Co.Uk 6. World’s Larget Hedgefund Of Madoff Is A Fraud: The Original Report - Via Rational Angle [more...]
Date: 2008-12-19 22:10:26
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
Secondary Sources: Jobs and Recession, CPI Defense, Britain
A roundup of economic news from around the Web. Jobs and Recession: Ahead of today’s jobs report, ... , we get a recession 100% of the time.” CPI Defense: The Bureau of Labor Statistics has issued ... to the days of plucking credit cards and mortgages off trees. Sterling was overvalued [more...]
Date: 2008-09-05 16:23:00
Net Worth Update: January 2009 (+$6,469)
Finally a positive month! ... year for me financially. Other Loans: Nothing to report. Mortgage: More movement that last month ... falling on my normal pay day) padded this number some and also allowed me to pay off some credit card [more...]
Date: 2009-01-01 13:57:07
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
Stressed Moms Losing Sleep
Stressed Moms Losing Sleep October 27th, 2008 By JOE WINDISH, Technology Editor Motherlode: A report released today by ComPsych Corporation, ... . Specifically, Compsych found, the worries break down like this: Cost of living: 30 percent Credit-card debt: 29 percent Mortgage payment: 14 percent Retirement account: 13 percent Kids’ tuition [more...]
Date: 2008-10-27 19:28:54
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
Sucky Stocks Increase Reverse Mortgage Biz
by Rimj Vanrock I understand the stock market may be down a little. What? Did you say 40%? Well I know it is somewhere around that figure ... : You may consider using a Texas reverse mortgage to invest. Learn first and read this report. Also ... a bunch of money in the market. Is having a bunch of money in a line of credit really going to help them [more...]
Date: 2009-01-06 02:10:17
The Changing Face of 4506T’s and Lock Periods
This is a guest post written by Clarion Mortgage CEO, David Marr ... t be able to sign up with the various companies that pull the tax returns as if it’s a credit report [more...]
Date: 2009-01-09 01:19:04
History Of The World (Financial Crisis), Part I
Nice to see someone is taking notes of the ongoing economic crisis ... struggling investment bank, failed mortgage company, missed-earnings warning, lousy housing report, cut ... and well kept, in fact, that it’s now one of Google’s top entries for the credit crisis timeline [more...]
Date: 2009-01-05 20:43:48
Deciding You Don't Want A Particular Mortgage Loan
I have questions to ask you about the loan for house ... three days of the date she ran your credit report, not to mention the Truth In Lending Advisory [more...]
Date: 2009-01-06 14:49:52
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
Sometimes, You Gotta Flush Twice.
Obama pieces together economic planObama released a report from his economic team that claimed a $775 billion economic stimulus package he is ... . With no savings account, and a low credit score, they are hardly rich. You're rich when your money ... the minimums on your credit cards, and just the interest on that jumbo mortgage doesn't make you rich [more...]
Date: 2009-01-10 16:09:00
Operation HOPE Founder and U.S. President's Advisory Council on Financial Literacy Vice Chairman John Hope Bryant Issues Public Statement Commending HUD Action to Simplify HUD Mortgage "Good Faith Estimate"
Bryant Is Also Chairman of the President's Council Committee on the Under-Served LOS ANGELES, CA--( ... agencies, non-profit organizations, academics, foundations and private sector bankers and credit union executives, was a Committee-approved report which outlined several "make sense" recommendations [more...]
Date: 2008-11-29 02:09:20
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
Finally: Republicans Finger Democrats as Responsible for Fannie/Freddie Meltdown
—Ace Good video report from Jim Angel at FoxNews. It should be noted that "Republicans" do not include "McCain ... guaranteeing a trillion new dollars for no-money down car purchases with no credit checks or proof ... . Millions of credit-poor homebuyers -- with erratic and unverified incomes -- now have mortgages [more...]
Date: 2008-09-24 00:11:22
Ditched And Left To Rot In Florida
The Tampa Tribune reports from Florida. “Ernie Harpster fell behind on his mortgage payments last year. The lender filed a foreclosure lawsuit ... payment meant I didn’t have to file for bankruptcy because I could pay other bills, like credit cards [more...]
Date: 2008-10-05 14:26:40
Credit Crunch Effects to be Felt for Years: BlackRock’s Fink
While the majority of the financial crisis tied to bad mortgages and esoteric debt structures may be waning, ... to a report published by Reuters on Wednesday. “The worst of the financial market crisis is behind ... with the turmoil have quarters to go, maybe years to go, because of the contraction of credit, the bloated [more...]
Date: 2008-06-13 13:01:03
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
Good News For Buyers Is Always Bad News For Sellers
The Desplains Times reports from Illinois. “Last month Dan decided to stop paying his mortgage. It was hard for him ... keep dropping,’ he said. ‘They go down by about $5,000 every month.’” “Dan’s credit score has been reduced from 750 before he purchased his townhouse to about 600 now, but he’s philosophic [more...]
Date: 2008-06-12 14:48:03
Research house upbeat on property stocks
Research house upbeat on property stocks It cites falling interest rates and possible favourable Budget measures By EMILYN YAP INVESTORS can ... credit for new investments,’ it explained. Banks may also introduce more attractive mortgage ... the operating environment for real estate companies this year, said Kim Eng Research in a report yesterday [more...]
Date: 2009-01-06 22:00:37
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
Crisis Planning - Many More Turning To Reverse Mortgage For Help
The unprecedented economic crisis roaring its way through every state in the country and every sector of the economy is taking a heavy toll on ... and cutting back on entertainment. About one-third have cut their credit card use and spent less ... editor. Continue Reading More From This Article Here. From The Nightly Business Report: The Reverse [more...]
Date: 2009-01-08 01:43:56
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