MortgageNewsClips: Foreclosures, Loss Estimate, OCC Handbook, Bye Granite Countertops, Gary Shilling, FNMA Poarfolio, Commodities Charts, Wheat Prices, Oxygen, Lifting Restrictions, NYC Foreclosures, John Rutledge, Joseph Mason, Prince of Wall Street, Under Siege (://URLFAN)
MortgageNewsClips: Foreclosures, Loss Estimate, OCC Handbook, Bye Granite Countertops, Gary Shilling, FNMA Poarfolio, Commodities Charts, Wheat Prices, Oxygen, Lifting Restrictions, NYC Foreclosures, John Rutledge, Joseph Mason, Prince of Wall Street, Under Siege
HUGE CHART - In Parts of U.S., Foreclosures Top Sales - Floyd Norris - NYT
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1. Cuomo settles appraisal case with Fannie Mae, Freddie Mac - … He said mortgage lenders that own appraisal companies - such as Wells Fargo & Co. and Countrywide Financial Corp. - may have to spin off those divisions … Times Herald-Record
2. New standards for home appraisers - Wells Fargo and Countrywide Financial, two of the nation’s largest mortgage lenders, operate appraisal units … - San Diego Union Tribune
3. OFHEO, NY ATTORNEY GENERAL, FANNIE MAE AND FREDDIE MAC SIGN AGREEMENTS TO COMBAT APPRAISAL FRAUD - OFHEO
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Leveraged Losses: Lessons from the Mortgage Market Meltdown- US Monetary Policy Forum Conference Draft - … Our best (very uncertain) guess is that the losses will total about $400 billion, with about half being borne by leveraged U.S. financial insti...
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Political tensions arise over government’s foreclosure plan to buoy up homeowners with loans controlled by Freddie Mac and Fannie Mae.1 Vote(s)... more
The Bank Terrorist From: usmessageboard.com Post Date: 2008-11-20 10:52:17
Housing: For years, a self-described "bank terrorist" blackmailed banks into making bad home loans in our inner cities. Now those loans are defaulting by the millions, and he’s blaming banks.
Bruce Marks, founder of the leftist Neighborhood Assistance Corp. of America, makes a good living shaking down banks for loans to deadbeat borrowers that he thinks are entitled to homes.
Activist Bruce Marks, speaking in February at a housing conference, has a history of terrorizin... more
TX-Dallas-75201, FANNIE MAE THE COMPANY Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and oper
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NEW YORK (MarketWatch) — U.S. fixed-rate mortgages fell for the third straight week, according to Freddie Mac’s survey released Thursday. The national average interest rate on the benchmark 30-year, fixed-rate loan averaged 6.04% in the week ending Thursday, down from last week’s 6.14% and the year-ago 6.20%. The 15-year fixed-rate loan averaged 5.73%, down from [...]... more
posted by Richard Bitner
Is FICO still relevant to the mortgage industry?
I can see it now. No matter how this question gets answered, it’s certain to illicit some response, which in fact, is the reason for the article.
As an industry that migrated with some reservation but eventually went “all in” with the belief that FICO was a true indicator of performance, it’s a question that deserves discussion, particularly given the issues we’re facing.
Let me start by saying that I do... more
To Our Clients, Colleagues and Friends:
· On this day in history, March 5, 1770, British soldiers fired on a mob of Boston colonists and killed six of them. The Boston Massacre became a rallying cry and lead, eventually, to our War of Independence. And this was 138 years ago today.
Washington Mutual just issued an 8-K stating that in 2008, cash bonuses will be determined by, among other items, operating profits excluding loan losses and REO expense. We hope we mis-read this, but... more
This market is tougher than a $3 steak! When the heck are mortgage prices going to improve? Why is the 10-yr Treasury down into the 3.5% range, yet conforming/conventional 30-yr loans, eligible for FNMA & FHLMC, back up into the 6% range? The widening that is occurring out to these levels, which statistically speaking happens once every 4,000 years, is a combination of several factors. First, investors and money managers feel safer putting their money into Treasury securities rather th... more
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