Lenders began the foreclosure process on 2,591 mortgages in Orange County in July, reports ForeclosureRadar.com. The total for notices of default was up 4% from June and 17% from a year ago. click for larger image Loan servicers and banks … Read More
The Congressional Oversight Panel, which has been reviewing government efforts to rescue banks, released a report today, warning that bad loans and related securities remain a potential risk to the economy and small banks. Here are the key paragraphs (bold … Read More
I’m a little late to this news: Freddie Mac, one of the two mortgage giants seized by the federal government, on Friday reported its first profit in two years, and didn’t seek more aid from the U.S. Treasury. That’s exactly … Read More
Today we take a look at which countries have best weathered the global recession and credit crunch. All economies have been affected by the crisis, but a combination of policy responses and strong fundamentals has given some countries, especially some … Read More
From HUD: FHA Suspends Taylor, Bean & Whitaker Mortgage Corp. and Proposes to Sanction Two Top Officials The Federal Housing Administration (FHA) today suspended Taylor, Bean and Whitaker Mortgage Corporation (TBW) of Ocala, Florida, thereby preventing the Company from originating … Read More
I have recently been teaching my 6-year-old son about misnomers. A misnomer is, of course, something that is inappropriately named. It started with my little boy asking why “babysitting” is called as such when he is most definitely not a … Read More
Qing Wang of Morgan Stanley: “Given China’s high national savings rate, from the perspective of the economy as a whole, there are only three forms in which China can deploy its savings: 1) onshore physical assets; 2) offshore physical assets; … Read More
From the WSJ: GSEs Unlikely to Repay U.S. in Full … “My view is that some assets in the senior preferred will have to be left behind as they come out of conservatorship,” Federal Housing Finance Agency Director James B. … Read More
The Star Tribune has a series on small banks in trouble: Lenders Gone Wild There are three parts: Part 1: Minnesota’s small banks on the brink In Minnesota, regulators have seized and closed two banks since 2008 and have ordered … Read More
Politicians and regulators made some noise this week on mortgage relief. First, Treasury Secretary Tim Geithner said there are just 200,000 trail loan modifications under way under the Obama administration’s Making Home Affordable plan. When it was announced back in … Read More