MortgageNewsClips: Reverse Limits, Bair has Power, Buffett, Fannie Backs Off, What Now?, Chris Whalen, Small Good News, PMI ERET Report, Regionals See Opportunity, Blackrock and PIMCO, The Die is Cast, Same Views, 6 more News Clips (://URLFAN)
MortgageNewsClips: Reverse Limits, Bair has Power, Buffett, Fannie Backs Off, What Now?, Chris Whalen, Small Good News, PMI ERET Report, Regionals See Opportunity, Blackrock and PIMCO, The Die is Cast, Same Views, 6 more News Clips
New Reverse Mortgage Loan Limits Update - John Yedinak - The National Reverse Mortgage Lenders Association (NRMLA) just sent out an email confirming that the new HECM loan limit will be $417,000. Right now the target date is November 1st, but this is not a set deadline, just a target date. - Reverse Mortgage Daily
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Bair Turns Once-Obscure FDIC Into Power Center in Bank Crisis - Alison Fitzgerald and Alison Vekshin - … “She has more power because of the situation on the ground,” said Senator Charles Schumer, a New York Democrat. “No one is going to put handcuffs on her.” “She’s going to be Treasury secretary someday,” said Tim Adams, a former department undersecretary under President George W. Bush who worked with Bair when she was an assistant secretary. … - Bloomberg ————
Can Buffett Rescue the Market? - The billionair...
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LACEY - Police reported they apprehended a man shortly after he robbed a Wachovia Bank at about noon on Lacey Road.
William L. Smith, 30, of Predmore Avenue in the Lanoka Harbor section of the township, was charged with one count of second degree robbery after he was apprehended by detectives James Wood and Fred Anderson, according to a news release issued by Detective Lt. James Veltri.
Smith entered the Wachovia Bank at 750 Lacey Road in the Forked River section of the township about noon and... more
POLICE BRIEFS From: app.com Post Date: 2008-11-07 21:00:00
LACEY: Police apprehended a man shortly after they say he robbed the Wachovia Bank at 750 Lacey Road in the Forked River section about noon Thursday.... more
Welcome to the Federal Home Loan Bank of New York Federally-chartered wholesale bank providing a reliable source of liquidity to financial institutions in NJ, NY, Puerto Rico, & the US Virgin Islands
Federal Home Loan Bank of Seattle A Member of the FHLB Banking System November 6, 2008 - Member News: Notification of Independent Director Elections
The Home Loan Experts Welcome to The Home Loan Experts. The-Home-Loan-Experts offers a convenient way to comparison shop for a home loan ... more
Seattle Bank Announces Board of Directors Election Results - MarketWatch
Seattle Bank Announces Board of Directors Election Results MarketWatch - 10 hours ago SEATTLE, Nov 18, 2008 (BUSINESS WIRE) — The Federal Home Loan Bank of Seattle (Seattle Bank) today announced the re-election of four member directors to …
Westin, Promenade Commercial Mortgages Near Default (Update2) - Bloomberg
Westin, Promenade Commercial Mortgages Near D... more
The Federal Deposit Insurance Corporation may on Friday revise a $1,400bn programme to guarantee bank debt on concerns the scheme could undermine the market for overnight loans between banks and unfairly disadvantage community lenders.
In more than 300 comment letters filed in response to the FDIC’s proposed rules, banks argued that the terms of the agency’s plan were too complex, too expensive and overly punitive for institutions that chose not to participate reports the Financi... more
8:54: Okay, someone please please dial in because the hold music sounds so damn familiar but I can’t figure out what it is and it is killing me.
9:00: I’m still on hold
9:02: Yes, Stairway to Heaven ! And still holding
9:04 Michael Peace (?) takes the mic "this is very positive...we’ve worked hard with congress...it’ll be good...Neil from the treasury will go over how the warrants works and exec comp" ... more
Here is the whole thing:
http://online.wsj.com/public/resourc...ll20080928.pdf
Here’s a summary from the WSJ:
I. Stabilizing the Economy
The Emergency Economic Stabilization Act of 2008 (EESA) provides up to $700 billion to the Secretary of the Treasury to buy mortgages and other assets that are clogging the balance sheets of financial institutions and making it difficult for working families, small businesses, and other companies to access credit, which is vital t... 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:Â Â Â
· 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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HUGE CHART - In Parts of U.S., Foreclosures Top Sales - Floyd Norris - NYT Â
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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 ... more
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