From CNBC: Senate Reaches Deal on $2 Billion ‘Clunkers’ Refill The Senate reached a deal on saving the dwindling “cash for clunkers” program … that would add $2 billion to the popular rebate program … … The Toyota Corolla is … Read More

From Zachary A. Goldfarb and David Cho at the WaPo: Administration Considers Splitting Fannie Mae, Freddie Mac The Obama administration launched a broad government effort this week to overhaul mortgage giants Fannie Mae and Freddie Mac and is considering splitting … Read More

I previously blogged on investors buying eight properties at a June 26 foreclosure auction with seven of those averaging a 61% discount to the first mortgages on the properties. Well, I figured it might be interesting to take a look … Read More

This post is by Brad Setser and Paul Swartz of the Council on Foreign Relations. No doubt today’s GDP release will attract the lion’s share of the econoblogosphere’s attention. But sometimes it is a good idea to counter-program. Paul Swartz, … Read More

The Herald Tribune has a series of article on mortgage fraud in Florida (ht Ed) Here are the first three in the series: ‘Flip that house’ fraud cost billions Fraudulent property flipping ran rampant during this decade’s housing boom, with … Read More

Buyers grabbed more than half the properties offered at a foreclosure auction in Santa Ana on Thursday, amid discounts as large as 70% off debt owed on the houses and condos. I visited another trustee’s sale at the Courthouse — … Read More

This makes four today. We’ve discussed these two before … Pitcher throws to home Failure swings…. to deep center A double this time. by Soylent Green is People From the FDIC : California Bank & Trust, San Diego, California, Assumes … Read More

Lets chug a lug, lug Two down, many to follow Quaff to banks gone bye. by Soylent Green is People From the FDIC : BankFirst, Sioux Falls, South Dakota, was closed today by the South Dakota Division of Banking, which … Read More

Note: the BLS started keeping state records in 1976. From the BLS: Regional and State Employment and Unemployment Summary Michigan again reported the highest jobless rate, 15.2 percent, in June. (The last state to have an unemployment rate of 15.0 … Read More

Matt Padilla at the O.C. Registers interviews the CEO of a bank that recently acquired a failed bank: Profiting from an Irvine bank failure Note: This regards the failure of MetroPacific Bank in Irvine, California on June 26th (just over … Read More