JPMorgan profit drops 76 percent

JPMorgan Chase & Co. said that its profit fell 76 percent as rising defaults. The company said in a statement that the year-old U.S ... More consumers are paying late on their credit cards and mortgages, forcing banks to increase reserves ... , a year earlier, the New York-based bank said. JPMorgan’s investment-banking division lost $2.36 [more...]

Date: 2009-01-15 14:23:57

Blog posts (467) | Videos (194)
 

FHA Streamlined Refinance - Lower your Rate and Payments Without Credit Qualifying or a New Appraisal

With rates near an all time low, refinancing has become a big thing again ... refinance: No credit qualifying. This is not credit score based and it is not even necessary to pull a full credit report. Your mortgage does need to be up to date, and current and we will look [more...]

Date: 2008-12-30 16:30:24

A Rare Bank Without Defaults

No Credit… No License… No History? No Problem? Even before our current mortgage meltdown, ... of loans - all to customers who have no credit history, zero credit scores, no drivers license and nothing ... default on a loan. And that’s thousands of customers over a 20-year period. How can this possibly [more...]

Date: 2008-12-19 20:22:33

New Year, Better Credit Score: Post 3

stockxpertcom_id12723501_size0-743295.jpg So FICO has branded you with a not-so-desirable credit score and you have made the resolution to bring ... month.  Remember also, not all debt is bad.  Items like mortgages and car loans on your credit report ... and see if they will take the late payment off so it doesn’t show up on your credit report [more...]

Date: 2009-01-10 15:55:57

The deregulation and free markets myth

Walter E. Williams destroys the liberal's claim that deregulation and free markets caused the financial meltdown: News media people, ... Times article, "Fannie Mae Eases Credit To Aid Mortgage Lending" (Sept. 30, 1999), reported, "Fannie ... Report (November/December 2008). The Federal Register, which lists new regulations, annually [more...]

Date: 2009-01-15 13:28:18

When you should use a credit repair agency.

Credit has become a very important part of peoples live in todays age. If you have bad credit you are familiar with having closed doors to loans, bank cards, credit cards, car financing and mortgages. Now all is not lost and you have the option to start fixing your credit. [more...]

Date: 2009-09-29 18:23:10

When you should use a credit repair agency.

Credit has become a very important part of peoples live in todays age. If you have bad credit you are familiar with having closed doors to loans, bank cards, credit cards, car financing and mortgages. Now all is not lost and you have the option to start fixing your credit. [more...]

Date: 2009-09-29 18:23:10

Bank stocks rally despite projections of fresh losses

Financial stocks have rallied the last four days, but not because their earnings are getting any better ... of the mortgage assets clogging their books. The credit raters downgraded a record $745 billion ... in a report issued today. The six companies -- Bank of America Corp., Citigroup Inc., Goldman Sachs [more...]

Date: 2008-11-26 23:26:46

Princess Caroline Declines To Reveal Info About Personal Finances

The Caroline Kennedy for Senate story gets more and more interesting ... . Kennedy would have to file a 10-part, publicly available report disclosing her financial assets, credit card debts, mortgages, book deals and the sources of any payments greater than $5,000 [more...]

Date: 2008-12-23 15:38:33

White House Philosophy Stoked Mortgage Bonfire

White House Philosophy Stoked Mortgage Bonfire, Dec 21, 2008 By JO BECKER , SHERYL GAY STOLBERG and STEPHEN LABATON ... terrifying news: The credit markets, gripped by panic, had frozen overnight, and banks were refusing ... of culprits, like lenders who peddled easy credit, consumers who took on mortgages they could not afford [more...]

Date: 2008-12-26 20:43:30

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

The Gurus by digby Newsweek's Michael Hirsh says that although there are many people responsible for out current economic meltdown, ... " for market conditions, for ushering in an era of easy credit that accelerated the mortgage mania [more...]

Date: 2008-09-17 20:26:40

FHA Streamline Refinance: Some Changes Effective January 1, 2009

This site is primarily focused on providing information for originators of FHA loans, ... unless the house has lead paint. FHA does not require a credit report, but some lenders may require ... history for the last 12 months (or the length of time the mortgage has been held). HUD’s Credit Alert [more...]

Date: 2008-12-15 17:40:38

Citi’s loss, Fannie’s PERS, Is the Fed the only one buying mortgages? Bond market closing early, Extending locks?

Toyota is developing a miniature, environmentally friendly car that is powered entirely by a rechargeable battery ... in fee, 15 days .35 in fee, and 30 days .60 in fee. For anyone interested in the news, check ... , as the credit crisis eroded mortgage-bond prices and customers missed more loan payments. And in other [more...]

Date: 2009-01-16 14:09:48

Lawyers Rule at SMMUSD

By Debra Shepherd Our family has been a part of the Santa Monica- Malibu Unified School District for seven years ... that are just itching to max out their credit cards or  mortgage their homes just to prove a point to  SMMUSD [more...]

Date: 2009-01-17 02:41:46

Jumbo Prime ‘Walk Away’ Loans - More Downgrades Coming

Mr Mortgage is a 20-year mortgage banking veteran, specializing in wholesale and correspondent sales and sales/operations management and bringing ... housing, mortgage and credit meltdown’ and company-specific events. He owns and is the primary [more...]

Date: 2008-12-10 16:51:11

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

Top Solar Stocks

Editor's Note: This article originally ran in Energy & Capital, but given the relevance of the topic and the current volatility of the market, ... deregulation and greed that led to a mortgage mess, kicking off a credit crisis that has led [more...]

Date: 2008-11-18 18:15:35

Credit Scores and Mortgage Loans: What Is The Minimum FICO Score?

Many people I talk with have had a few issues with their credit in the past.  Maybe an unpaid cell phone bill that went to collections, a few lates on a credit card, some have even filed bankruptcy in the past. Usually, if someone is worried about their credit [more...]

Date: 2009-01-02 09:19:18

MortgageNewsClips: CA Foreclosure Predicts, FDIC- Show Me the Money, John Burns, Kohn Speech, Finger Length and Testerone, Contra Trend, Jody Shenn, Toro Chart Series, Bottom is Near, 3.5 is Possible, Positive Traction, 3 more, IRA Has 4

   clear explanation and good charts - Mr. Mortgage: Dec CA Foreclosure Report - Defaults up 100% - December CA Mortgage Defaults Up 100 ...     yahoo-news 1.  Study Cites Early Testosterone Exposure -  In addition to subprime mortgages, credit [more...]

Date: 2009-01-15 00:56:39

T3 Leads: Pay Per Lead Affiliate Network

I’ve been keeping an eye on T3 Leads over the past couple of months, as I have seen them reviewed on many other blogs, ... , Credit Repair, Insurance, Mortgage Loans and Renter Insurance. Based on offer type, requested [more...]

Date: 2008-12-31 02:11:05

Interview with Jillayne Schlicke - Part 1: LO’s Are You Ready for 2009?

I recently contacted Jillayne to see if she would be open to an “interview” geared to Loan Originators who plan to sticking around beyond the end ... series with the next post addressing the SAFE Act (national licensing). My questions to Jillayne ... such as mortgage broker LOs and CLA correspondent lenders, credit union and consumer loan  LOs [more...]

Date: 2008-11-05 20:31:30

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

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

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

Selecting From These Monthly Magnificent 7 For Round 2.

Pipe in if you want. LarThese are the final monthly nominees to compete to go on to round two ... For A Mortgage When One Spouse Has A Low Credit Score  By Searchlight Crusade: here are several ... must qualify, credit score-wise. The way around this is a quitclaim to the spouse who has a good [more...]

Date: 2009-01-15 10:19:45

Financial Forecast for 2009, Considering Resource Limitations

In this post, I consider some major issues contributing to our current financial problems, before making a financial forecast for 2009. These are 1 ... from the bottom: Layer 1. Household Debt (Mortgages, auto loans, credit card debt, student loans [more...]

Date: 2009-01-06 15:10:32

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

Ten steps to take before buying a home

I found this entry from back in March, 2005. It’s useful information, especially now as we enter the fall market ... more down at losing, depending on the type of mortgage you end up getting.) 5. Get your credit in order. Obtain a copy of your credit report. (Definitely do this - do it online if you want it done, fast [more...]

Date: 2008-08-26 19:00:25

Pay Option ARMs - The Implosion Is Still Coming Despite Low Rates

Mr Mortgage is a 20-year mortgage banking veteran, specializing in wholesale and correspondent sales and sales/operations management and bringing ... housing, mortgage and credit meltdown’ and company-specific events. He owns and is the primary [more...]

Date: 2008-12-24 14:00:38

The Next Batman 3 Villain

The Next Batman 3 Villain Add comments Top Rising Stories Tough Weather At British Open Sends Golf Scores Soaring ... to check it out. Get the full story... Credit Lines FREEZE, But Not For Reverse Mortgages Frozen ... Gusting winds of 30mph and heavy rain sent the average score on the first morning [more...]

Date: 2008-07-18 12:42:13

Equities play catch up with credit

Good Evening: What started as trouble with subprime mortgage loans almost two years ago has now spread out and infected credits of all sorts, save the U.S. government. Perceptions about the credit-worthiness of Uncle Sam will take time ... credit markets. Whether this adjustment in the relative prices of credit and equity take place [more...]

Date: 2008-11-20 05:30:37

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

Great Recession Roundup — January 13, 2009

Items of Interest:Chairman Ben S. Bernanke / federalreserve ... institutions and shook investor confidence in credit markets. However, although the subprime ... larger and more encompassing credit boom whose impact transcended the mortgage market to affect many [more...]

Date: 2009-01-14 04:51:00

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

Scrooge's Economic View of Christmas

We all know how easy it is to get caught up in the Christmas spirit and gift-giving frenzy ... their credit card debt, pay their mortgage, or simply cover the bills. But people's general preference for cash [more...]

Date: 2009-01-16 20:50:16

The New TARP, Stocks Cheap Enough Yet? Escaping the Global Recession, The Dububble, and More!

by Addison Wiggin & Ian Mathias Paulson reworks financial bailout: New targets for investment… even you can apply! ... for student, auto and mortgage loans… even credit card relief. But… what about the ambiguously [more...]

Date: 2008-11-13 19:02:15

'Islamic Finance' Spreads to U.S. Heartland

DETROIT: Big financial institutions have been battered by mortgages gone bad ... , credit default swaps and the like. "When you look at the economic crisis we're in, if you were to follow [more...]

Date: 2009-01-15 13:23:00

USA: Finance the Islamic way at Michigan bank

DETROIT (AP) — Big financial institutions have been battered by mortgages gone bad ... also rules out some of the activity that got Western finance in trouble — subprime mortgages, credit [more...]

Date: 2009-01-14 17:04:00

Have You Delayed Your New Car Purchase? You’re Not Alone!

For the year just ended, three million fewer cars were sold then in the previous year, for the American market alone ... mortgage meltdown, high gas prices and tight credit. The latter, particularly, made it difficult for Americans to buy new cars as credit standards were tightened, shutting out hundreds of thousands [more...]

Date: 2009-01-09 07:33:10

When It's Time to Wave the White Flag and File Bankruptcy

Sometimes, despite our best intentions to pay back our debts, our individual circumstances make it an impossible task ... just the minimum payment on your credit cards each month? Do you often skip bill payments in order ... ? Are you frequently using credit cards to pay for living expenses (rent, mortgage, electric, groceries, etc [more...]

Date: 2009-01-08 02:07:50

New York Times starts catching up to iSteve

From the Sunday, 12/21/08 New York Times:White House Philosophy Stoked Mortgage Bonfire By JO BECKER, ... . There are plenty of culprits, like lenders who peddled easy credit, consumers who took on mortgages they could [more...]

Date: 2008-12-21 04:53:00

Is Denver's real estate market beginning to turn?

Is Denver's real estate market beginning to turn? Jan ... Statistics December 2008 Buyers are in the catbird seat again this month, that is, if they can get a mortgage. Prices take a slide but credit is still tight even though rates are the best they've [more...]

Date: 2009-01-13 00:33:00

Fourth-Quarter Earnings: How Bad? - Investors are expecting something abysmal. Could earnings that are merely bad spark a rally?

We have been in an overly optimistic mode since Obama was elected, and this has been global ... economy, the financial sector. We have yet to hear from commercial mortgages and credit card defaults [more...]

Date: 2009-01-06 15:58:53

Obama calls on Federal Reserve to step up as economy melts down. Transcript.

WASHINGTON--Barack Obama on Thursday mocks John McCain's suggestion to create a commission to study the economic meltdown ... their emergency authorities to maintain the flow of credit, to support the availability of mortgages [more...]

Date: 2008-09-18 20:21:06

take it on the chin

I am a firm believer that Ignorance and freedom is incompatible ... of a financial market stabilization act – this time, 450 pages of feces. Fuck bailing out banks, although ... like me to keep them, and the steady stream of mortgage payments going to said banks. Too much credit [more...]

Date: 2008-10-02 12:56:00

The New TARP, Stocks Cheap Enough Yet? Escaping the Global Recession, The Dububble, and More!

Paulson reworks financial bailout: New targets for investment… even you can apply! ... , auto and mortgage loans… even credit card relief. But… what about the ambiguously named “troubled [more...]

Date: 2008-11-14 08:47:45

Royal Banksters of Scotland Bank Throw £300,000 Party after £20 Billion Taxpayer Bailout

Banksters at the Royal Bank of Scotland spent £300, ... £20,000 a show – tell jokes about the credit crunch. The mortgage staff and their guests whooped ... of the World report. Despite holding the black tie ball in private, executives gave the game away [more...]

Date: 2008-11-11 12:56:40

Merril Lynch bailout bio

Merrill Lynch was one of the few remaining investment banks before it agreed to be acquired by Bank of America in September ... and credit default swaps) that were backed by mortgages and hedges against defaults, these are high risk [more...]

Date: 2008-11-25 21:09:48

Wilmington NC Real Estate Short Sales

Short Sale seems to be the buzz these days as more sellers are opting to avert a foreclosure proceeding and possibly save their credit and buyers ... the amount of the mortgage owed on the property. Hopefully the lender will just write off [more...]

Date: 2009-01-16 20:53:32

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