June 23, 2010 – Borrowers who chose to default on mortgages that they are capable of paying will be facing a long wait before they are able to own a home again under new Fannie Mae guidelines. The new rules come at a time when considerable attention is being focused on “strategic defaults” in which […]
SAY GOODBYE TO LOW MORTGAGE RATES
March 30, 2010 By Leave a Comment
BANKING LINKS Are Mortgage Rates Set To Skyrocket? “And bonds are now telling us that long-term interest rates are preparing for a major upside breakout. One look at a chart of the 10-year Treasury rate bears this out” – Barron’s Banks Need More Capital – No Agreement On How Much “Conspicuously absent from any regulatory […]
Asset Wealth Illusions Fade As Debt Defaults Continue
February 21, 2010 By Leave a Comment
Banking Links – February 21, 2010 Plunging Commercial Real Estate Values Not Reflected On Banks Balance Sheets– WP Does Foreclosure Assistance For The Long Term Unemployed Make Sense? – Bloomberg Discount Rate Hike Meaningless To Savers As Rates Stay Low – Bloomberg Insurers Of Municipal Debt May Face Huge Claims – Bloomberg Pros Ponder Merit […]
Taxpayers – Last Option To Bail Out Governments
February 16, 2010 By Leave a Comment
Banking Links – February 16, 2010 Will US Housing Market Collapse As Government Winds Down Aid? – NYT Paulson Attacks Obama’s Financial Regulation Plans -Says Big Banks Essential To Financial Recovery -Times OnLine Europe At The Crossroads – Greece Rescue Would Open The Floodgates – FT Forgiving Mortgage Debt Makes Payments Easier But At Whose […]
Will A New Flood Of Mortgage Bailouts And Defaults Crush Bank Earnings?
February 10, 2010 By Leave a Comment
Banking Links Expect Homeowner Mortgage Bailouts To Continue On Massive Scale – Mortgage Balances Exceed Home Values For 1 of 5 Homeowners – Bloomberg Looming Credit Downgrades For Citi and BofA – FT Easy Money Fuels Canada’s Housing Boom – WSJ What Caused the Housing Bubble – Lax Monetary Policy or Poor Regulation? – Credit […]
FDIC Sells Failed Bank Loans At Steep Discount
January 9, 2010 By Leave a Comment
Private Investors Make Very Leveraged Bet On Asset Value Recovery The FDIC currently holds approximately $30 billion in failed bank assets from banks that have failed in the past 18 months. The assets held by the FDIC were of such dubious quality that the FDIC was unable to entice acquiring banks to purchase them, despite […]
Banking News
November 1, 2009 By Leave a Comment
To Rein In Pay Rein In Wallstreet Why are financial industry paychecks so big? Those who want to do something about bringing that pay down ought to focus on why there has been so much money in the financial sector in recent years. It should be no surprise that people in that business wanted to […]
7 Reasons Not To Have Confidence In The Banking System
October 13, 2009 By Leave a Comment
Does the recent strong rally in the shares of bank stocks imply that the banking crisis is over, or are we looking at a mirage? Here are 7 reasons why the banking crisis may only be in the early stages of an ongoing crisis which could ultimately result in a lack of public confidence in […]
FDIC Warning On Foreclosure Rescue and Loan Mod Scams
September 18, 2009 By Leave a Comment
Foreclosure Rescue & Loan Mod Scams Prey On Desperate Homeowners The FDIC has issued a warning to homeowners who have fallen behind on their mortgage payments and may be facing foreclosure to avoid foreclosure rescue and loan mod scams. Unscrupulous individuals and companies are promising desperate homeowner that they can stop foreclosures or get mortgage […]
FDIC Proposes Mortgage Plan For Unemployed
September 15, 2009 By Leave a Comment
FDIC Forbearance Program Proposed In an attempt to prevent further foreclosures and mitigate the amount of losses on failed bank assets, the FDIC proposes that acquirers of failed banks initiate a forbearance plan for unemployed homeowners. As part of its loss-share agreement with acquirers of failed FDIC-insured institutions, the FDIC is encouraging its loss-share partner […]