December 8th, 2009 - Mortgage - Loans - Equity Category: Finance, Home Mortgage, Loans, Mortgage, Mortgage Rates
Here’s the latest bailout update, courtesy of National Mortgage News: The Federal Deposit Insurance Corp. is considering amending its loss-sharing agreements with acquirers of failed banks, allowing certain homeowners who are “under water” on their mortgages to reduce the principal … Read More
December 7th, 2009 - Mortgage - Loans - Equity Category: Mortgage Rates
From Thomas Corfman at Crain’s Chicago Business: Zombie fears stalk Tishman in the Loop (ht David) Corfman describes properties where the owners owe far more than the buildings are worth, and can’t refinance, as “zombie buildings”. The owners “can’t compete … Read More
December 7th, 2009 - Mortgage - Loans - Equity Category: Mortgage Rates
From NY Fed President William Dudley: Still More Lessons from the Crisis The entire speech is worth reading. Dudley discusses a number of topics including his economic outlook, how the Fed should respond to bubbles, and why he believes the … Read More
December 7th, 2009 - Mortgage - Loans - Equity Category: Mortgage Rates
From Diana Olick at CNBC: Bank of America: 2/3 of Borrowers May Lose Mods (ht montas ankle) [Jack Schakett, credit loss mitigation strategies executive at B of A.] told me that of the 65 thousand trial modifications set to expire … Read More
December 7th, 2009 - Mortgage - Loans - Equity Category: Finance
I’m going to start out by saying something that might get some feathers in a ruffle: everyone in the first world has brand preferences. Simply by seeing a particular label on something, we draw some basic conclusions about the product … Read More
December 7th, 2009 - Mortgage - Loans - Equity Category: Equity, Home Loans, Home Mortgage, Loans, Mortgage
( Update II: Quotes added from defendants attorneys. ) The Securities and Exchange Commission today charged three former executives of failed Irvine-based subprime lender New Century Financial with fraud for allegedly misleading investors as the business was “collapsing” in 2006. … Read More
December 7th, 2009 - Mortgage - Loans - Equity Category: Mortgage Rates
From Fed Chairman Ben Bernanke: Frequently Asked Questions . Dr. Bernanke discusses four questions: 1. Where is the economy headed? 2. What has the Federal Reserve been doing to support the economy and the financial system? 3. Will the Federal … Read More
December 7th, 2009 - Mortgage - Loans - Equity Category: Mortgage Rates
From Professor Duy: Structural and Cyclical For several months, I have been telling stories that decompose US economic activity into what I think of as cyclical and structural dynamics. I believe the distinction is very important to firms, markets, and … Read More
December 7th, 2009 - Mortgage - Loans - Equity Category: Equity, Finance, Home Mortgage, Loans, Mortgage, Mortgage Rates
First the good news:The Treasury Department expects to recover all but $42 billion of the $370 billion lent to financial companies under TARP, reports the New York Times. The Obama administration previously estimated losses would total $341 billion. Treasury is … Read More
December 7th, 2009 - Mortgage - Loans - Equity Category: Finance
Each Monday, The Simple Dollar opens up the reader mailbags and answers ten to twenty simple questions offered up by the readers on personal finance topics and many other things. Got a question? Ask it in the comments. You might … Read More