Alt-A and ARM resets could trigger another crisis!!!

We are winding down out of subprime and going into Alt-A and ARM resets. We have government funding for homes in two ways. One, incentives with lower rates and tax credits, but, there is more. The GSE’s are allowing loans that are 105% and where the monthly debt to income is over 60%. These loans have high default rates and we will pay the price as unemployment stays high. quote Let’s look at a few facts: The Fed is literally the entire mortgage market. Yes, really. [more...]

Date: 2009-09-29 18:15:58

Blog posts (115) | Videos (9)
 

Bank of America nears govt aid, Citigroup shares drop (Reuters)

WASHINGTON/NEW YORK (Reuters) – Bank of America Corp may receive a $15 billion government infusion to help absorb Merrill Lynch, ... to handle soaring credit losses. Both lenders face mounting pressure from investors that they can manage a surge in bad loans caused by a deep economic recession. The two companies will offer more details [more...]

Date: 2009-01-15 23:32:10

Tories versus loan companies

Tory Housing Spokesman Grant Shapps recently published a report entitled Pay-Day for Loan Sharks which complains that companies lending small sums of ... has been warning about the massive rise in personal debt since well before Labour’s recession hit, but if the government thinks that the problem will be solved by lower official interest rates then [more...]

Date: 2009-01-09 12:08:03

Bank of America nears government aid, Citigroup shares drop (Reuters)

WASHINGTON/NEW YORK (Reuters) – Bank of America Corp is on the cusp of receiving a government infusion to help it absorb Merrill Lynch & Co, ... to handle soaring credit losses. Both banks face mounting pressure from investors who question how well they can absorb an expected tidal wave of loans gone bad in a deep recession. More details [more...]

Date: 2009-01-16 02:26:43

GM and Chrysler get US$17.4 billion bailout

They’ve done it, the Detroit boys have managed to secure federal emergency loans to execute their plans to stay afloat ... stock, firms must accept limits on executive pay and eliminate perks such as corporate jets, debt owned ... and emissions requirements, and firms must not issue new dividends while in debt with the government. Ford [more...]

Date: 2008-12-21 09:09:13

U.S. Government Has Bought into 9 Major U.S. Banks

Finally, leadership! Every commentator has whined for it. Every investor has pined for it. Every politician has inclined towards it ... into 9 major U.S. banks. Hundreds of billions in loans, giveaways, bribes and trash collection ... , but the math is a little funny anyway. France is putting up 360 billion euros. Germany tossed a half [more...]

Date: 2008-10-15 03:16:35

GMAC Deal Boosts Auto Stocks

The government’s decision to provide $6 billion in financing to steady the lending arm of auto giant General Motors has jolted futures on ... , shares of GM were up by nearly 8% and rival Ford Motor Co. gained 5.9%, while stock futures rose ... credit rating needed for funding new loans to 621, down from the 700 limit established by GMAC two [more...]

Date: 2008-12-30 14:03:40

GMAC Deal Boosts Auto Stocks

The government’s decision to provide $6 billion in financing to steady the lending arm of auto giant General Motors has jolted futures on ... , shares of GM were up by nearly 8% and rival Ford Motor Co. gained 5.9%, while stock futures rose ... credit rating needed for funding new loans to 621, down from the 700 limit established by GMAC two [more...]

Date: 2008-12-30 17:03:00

Mortgage-backed insecurities

If you don’t have enough down payment money to qualify for a traditional mortgage, the government forces you to buy mortgage insurance ... with little (or nothing) down, you may soon be in negative equity. This is the case with about ten ... can only lend 80% of the value of a home without it, you can imagine how many loans fell [more...]

Date: 2009-01-15 02:31:53

Citron Releases the Document that The Apollo Group (NASDAQ:APOL) Does Not Want You or the US Government to See.

stock ticker: APOL Last week, The Apollo Group reported what appeared to be strong quarterly operating profits in their for-profit ... .   Here’s why: Before discussing, it is important to note that Title IV loans are the backbone ... from these loans, and is the largest single recipient of student loan funds in the country [more...]

Date: 2009-01-13 15:05:38

Government Bail out fails - That’s a good thing

Yesterday was most likely one of those days that will go down in economic history ... the panic? Fear that Congress might not be able to come up with a fix to the nearly frozen credit ... to continue day-to-day operations. Businesses of all types depend on these loans and lines of credit [more...]

Date: 2008-09-30 10:49:17

A123 Systems Plans USA Battery Plants with USA Government Money

Jan 7, 2009 - A123Systems today announced it has submitted an application under the U.S. Department of Energy’s Advanced Technology Vehicles Manufacturing Incentive Program to qualify for $1.84 billion in direct loans to support the construction of new lithium ion battery manufacturing [more...]

Date: 2009-01-15 20:11:27

North Dakota Legislators Considering A Tuition Freeze

Because government price controls always work so well. (BISMARCK) ... of higher education is taking its toll on students. As noted by the Project on Student Debt, North Dakota ... through student loans. The average debt held by these students is $21,648, which ranks 15th [more...]

Date: 2009-01-15 21:56:58

Constitution Party: ‘The mortgage thieves return’

Reposted at http://www.constitutionparty.com/news.php? ... spectacle of bad actors descending on a government program fat with new money and starved ... and proof of an ability to pay the money back. These were boring 30-year fixed-rate loans. Now FHA [more...]

Date: 2009-01-07 18:25:37

Home sweet home builders?

Hopes that government intervention will bolster the housing market are giving a boost to home-builder stocks ... and other debt issued by Fannie Mae, Freddie Mac and the Federal Home Loan Banks. Now reports [more...]

Date: 2008-12-05 00:38:41

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