Retail Sales Sends Markets Spiraling
Retail Sales Sends Markets Spiraling The markets were greeted today with an economic report that disappointed even negative expectations ... are unwilling to lend much additional capital, and home equity loans are not nearly as available ... . As home prices decline, consumers “feel” poorer and are unwilling to spend as lavishly. Also [more...]
Date: 2009-01-14 17:15:00
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Bretton Woods 2, R.I.P.
A wide range of commentators, including your humble blogger, have worried about the clearly untenable system known as global imbalances, ... central bank is not lending to credit card issuers and banks that provide home equity loans. China buys ... eliminate the need to buy Treasuries to keep the currency low, but would also considerably reduce [more...]
Date: 2008-10-22 08:47:01
Fannie, Freddie, now FHLBs?
Some other banks are encountering difficulties today -- namely the Federal Home Loan Banks, one of the biggest providers of funding for US mortgages. From Bloomberg: The Federal Home Loan Bank of Seattle said it will suspend dividends and "excess" stock repurchases, becoming the second of the government-chartered lending cooperatives to say [more...]
Date: 2009-01-14 12:35:34
Save Thousands by Prepaying your Mortgage
If you’re determined to cancel your home loan as soon as possible this is not a bad idea, ... penalties There also some loans that have prepayment penalties. Since the lending company earns money ... while reducing debt If you’ve read the small print and there are no prepayment penalties [more...]
Date: 2009-01-06 09:18:15
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
Chase pulls out of Wholesale Lending with Mortgage Brokers
I just received this memo from Chase: “Home lending remains an integral part of our firm’s overall financial strategy, and as such, ... -originated loans acquired from Correspondent lenders. Our new strategic direction is supported ... decision, we will no longer accept any new locks and registrations from or purchase any loans [more...]
Date: 2009-01-13 20:24:21
Why Does Paulson Want Us to Keep Piling up Debt?
Bailout Nation turns to consumers today, as Treasury Secretary Henry Paulson prepares to announce a new program to encourage lending for auto loans, ... to complain when consumers finally get their turn. I know we need to get credit moving to help the economy ... the last decade piling up debt, taking out equity from their homes to spend [more...]
Date: 2008-11-25 14:40:19
?Countrywide VA Foreclosure
If you’re looking for a home at a bargain price, you may want to consider a Countrywide VA Foreclosure ... from the bank or lending institution, but the VA guarantees the loan. In spite of this, many ... loans, lines of credit and more. They are also the lender that handles more VA mortgage loans than any [more...]
Date: 2009-01-14 06:17:02
Lending Club P2P: Review of New Post-SEC Changes, Free $25 Lender Bonus
Now that LendingClub has finished their SEC filing and is one of the only P2P lenders currently operating ( ... 660 with a debt-to-income ratio (excluding mortgage) below 25%. In addition, your credit history ... you get. Then you can simply compare this rate with your other options - credit cards, home equity loans [more...]
Date: 2008-12-14 14:30:58
Beneficial Finance - Mortgage Review
Beneficial Finance, does personal, auto, and mortgage lending as a retail subsidiary of mega-bank parent HSBC Group (NYSE: HBC) ... of Beneficial Finance should be avoided. They are big pushers of credit cards, home equity loans, and debt consolidation mortgages. You can’t expect much better being a subsidiary of HSBC Mortgage [more...]
Date: 2009-01-14 22:05:31
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