The Sacramento Association of REALTORS® has been breaking out short sales for over a year now. They report monthly resales by equity sales (conventional resales), and distressed sales (Short sales and REO sales), and I’m following this series as an example to see mix changes in a distressed area. Click…
From the Federal Housing Finance Agency: FHFA Issues Subpoenas for PLS Documents FHFA, as Conservator of Fannie Mae and Freddie Mac (the Enterprises), has issued 64 subpoenas to various entities, seeking documents related to private-label mortgage-backed securities (PLS) in which the two Enterprises invested. The documents will enable the FHFA…
From Kenneth Harney in the WaPo: Foreclosure alternative gaining favor (ht ghostfaceinvestah) There are two programs in Home Affordable Foreclosure Alternatives ( HAFA ), short sales and deed in lieu of foreclosure. Harney writes: Some of the largest mortgage servicers and lenders in the country are gearing up campaigns to…
As the anvil falls Road running deposits flee Wiley banker struck by Soylent Green is People From the FDIC: First American Bank, Artesia, New Mexico, Assumes All of the Deposits of High Desert State Bank, Albuquerque, New Mexico As of March 31, 2010, High Desert State Bank had approximately…
Peninsula Bank Ringed on three sides by water Way out blocked by Feds Savannah shut down Sheila’s Summer season starts Sad situation. by Soylent Green is People From the FDIC: Premier American Bank, Miami, Florida, Assumes All of the Deposits of Peninsula Bank, Englewood, Florida As of March 31,…
Jim the Realtor thinks Bank of America was taken on this deal. This 4,374 sq ft house, on two acres, is in a great location in Rancho Santa Fe (upscale San Diego). The loan was $3.2 million, and the short sale was for $1.575 million. This was another “5 second”…
From DataQuick: Southland sales at 4-year high Note: as always I ignore the median price and use the repeat sales indexes from Case-Shiller and CoreLogic. Southern California home sales rose last month in all but the lowest price categories as buyers took advantage of tax credits and low mortgage rates.…
Last night I excerpted from a speech by St Louis Fed President James Bullard. I noted that GDI might be more useful in measuring the recovery than GDP (they are conceptually equivalent). As a followup to that post (and also to the previous post with the forecast from UCLA-Anderson’s Ed…
The Sacramento Association of REALTORS® is breaking out monthly resales by equity sales (conventional resales), and distressed sales (Short sales and REO sales), and I’m following this series as an example to see mix changes in a distressed area. Click on graph for larger image in new window. Here is…
From the Association of American Railroads: Rail Time Indicators . The AAR reports traffic in May 2010 was up 15.8% compared to May 2009 – and traffic was still 11.8% lower than in May 2008. Click on graph for larger image in new window. This graph shows U.S. average weekly…