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Results for mortgages. Search took 0.69 seconds.
Glass-Steagall and the market meltdown
in Sox First, on November 13, 2009
...stment banks. And because banks were now allowed to cover both sides of the street, they could sell mortgages to homeowners, and then invent fancy investment structures which they could then sell on W...
Big profits: How Goldman Sachs bet on the US housing crash
in Sox First, on November 5, 2009
...dman Sachs actions by accusing the bank of selling securities backed by at least 200,000 risky home mortgages while at the same time placing bets that the US housing market would crash. As Boston Univ...
How the ratings agencies sold out investors
in Sox First, on October 19, 2009
... also stacked its compliance department with the people who awarded the highest ratings to pools of mortgages that soon were downgraded to junk. Such products have another name now: 'toxic assets' ......
Mortgages: 30-year or 15-year?
in The Personal Finance Weblog, on October 11, 2009
...copy; sfadden
Get Rich Slowly ran a piece late last month that compared 15-year and 30-year mortgages.
The fairly lengthy blog post is based on the personal experience of one of GRS's staf...
Famitsu China: 11 New Final Fantasy XIII Scans
in Wangtam, on 2009-09-16
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Nothing learned from Lehman collapse
in Sox First, on September 14, 2009
... commodities and exotic financial products. Jacobs writes: "They're still packaging risky mortgages into securities and selling them to investors, who can earn higher returns by purchasing t...
The next bubbles
in Sox First, on September 12, 2009
...Citi and Bank of America getting pushed up in the rush to buy cheap; education; repackaged subprime mortgages; securitised life insurance schemes; commercial real estate (definitely popping now) and e...
US taxpayer bailout for subprime firms
in Sox First, on August 31, 2009
...ram (HAMP) which was created in February by the Obama administration to coax lenders into modifying mortgages that might otherwise result in foreclosure. And unlike the bank bailouts, taxpayers won&#...
Commercial real estate to create a new mortgage crisis
in Sox First, on August 31, 2009
...ks. WSJ reporters Lingling Wei and Peter Grant write: "Banks hold $1.7 trillion of commercial mortgages and construction loans, and delinquencies on this debt already have played a role in the i...
No relief from foreclosure mess
in The Mortgage Roadmap, on August 24, 2009
... worse.
According to a story in the Wall Street Journal, one in every eight U.S. households with mortgages was either in foreclosure or behind on its mortgage payments in the second quarter of thi...
Foreclosures dogging the middle class
in The Mortgage Roadmap, on August 14, 2009
...boom? We liked to say it was because of all those greedy homeowners who took out high-risk subprime mortgages to get into homes they couldn't really afford.
Well, today's foreclosure victim i...
Odds are good you'll be "underwater" by 2011
in The Mortgage Roadmap, on August 10, 2009
© SuperFantastic
If you own a home, the odds are good that you'll be "underwater" by 2011.
No homeowner wants this. It's when you owe more on your mortgage loan than what your home is worth. According to a news story in the Victorville Daily Press, nearly 48 percent of hom...
US mortgages underwater
in Sox First, on August 7, 2009
The Washington Post reports that the US Government is considering plans to take hundreds of billions of dollars in troubled loans out of Fannie Mae and Freddie Mac, stick them into a so-called "bad bank" and create a new structure to support the home-loan market. That sounds fine i...
Mortgage companies falling down on loan-modification help
in The Mortgage Roadmap, on August 4, 2009
...eedy homeowners will get helped, many others seeking loan modifications are struggling to pay their mortgages through no fault of their own. They may have lost their jobs. They may have suffered medic...
Islamic banking booms
in Sox First, on August 4, 2009
...Shariah compliant products. The murabaha model is used in the UK retail market to structure Islamic mortgages. Under this method, the bank purchases the asset with the customer, the rent charged is be...
Making mortgages easier to understand
in The Mortgage Roadmap, on July 24, 2009
...ay approved a set of proposals that, the reserve says, will make it easier for U.S. residents with mortgages to understand how their loans work . That's the theory, at least. We'll see how it...
US banks face more losses from commercial property collapse
in Sox First, on July 23, 2009
...d result in another wave of losses at US banks. The banks have already lost billions in residential mortgages and business loans but the collapse of the commercial property market would devastate them...
Some mortgage villains faring quite well
in The Mortgage Roadmap, on July 20, 2009
..., to watch out for their clients — steered them toward risky interest-only or adjustable-rate mortgages. When these mortgages adjusted, too many homeowners could not afford the new higher monthl...
Recession and repression
in Sox First, on July 16, 2009
... start spending again, and they won't start doing that until they feel secure at work and their mortgages are not under water. As economist Nouriel Roubini reminds us, even if the economy stops...
Goldman Sachs: behind the numbers
in Sox First, on July 15, 2009
...ldman is back to its old tactics of investing in high-risk trading and investing in everything from mortgages to commodities and underwriting of stock and debt offers. And that raises an obvious quest...
It's getting tougher to get a mortgage-broker license
in The Mortgage Roadmap, on July 2, 2009
...ered homeowners into risky loans, mortgage products such as interest-only loans and adjustable-rate mortgages with artificially low initial interest rates.
It's good, then, to see states such as ...
Is plain vanilla the right goal?
in The Mortgage Roadmap, on June 30, 2009
... cross over into stifling innovation ?
The Post, in its editorial, warns that while plain vanilla mortgages may be fine for many consumers — maybe even most — there are others with the f...
Did Sonia Sotomayor's mortgage views help send county into recession?
in The Mortgage Roadmap, on June 23, 2009
...preme Court, for the time she served on the board of a New York state agency that provided discount mortgages to low- and middle-income buyers. Sotomayor served on the board from 1987 to 1992.
Carney...
A new wave of mortgage foreclosures on the way?
in The Mortgage Roadmap, on June 19, 2009
...ld focuses on the plight of homeowners who during the housing boom took out option adjustable rate mortgages . In these type of loans, borrowers can decide to pay less than what their monthly balance...
Do you trust the government to protect you from mortgage lenders?
in The Mortgage Roadmap, on June 18, 2009
...simple terms alongside more complex mortgage products. Borrowers would have to opt out of the plain mortgages if they wanted to go wtih the more complicated mortgage loan products, according to the Jo...
How'd the mortgage meltdown happen? NPR knows
in The Mortgage Roadmap, on June 15, 2009
... wanted to know — and then some — about mortgage loans, bad lending practices, subprime mortgages and the reasons why the mortgage industry went so wrong: It's NPR, of course.
For tho...
Are reverse mortgages the next trouble spot?
in The Mortgage Roadmap, on June 9, 2009
...omptroller of the currency, was quoted in a recent Wall Street Journal story as saying that reverse mortgages could be the next financial product to cause serious problems for consumers. In the story,...
Wells Fargo accused of pushing bad loans on African-Americans
in The Mortgage Roadmap, on June 8, 2009
...ers couldn't afford to make their payments. Of course, when loan officers originally sold these mortgages, they told their borrowers that they could simply refinance their interest-only loans into...
Subprime and racism
in Sox First, on June 8, 2009
...reports of Well Fargo being targeted in a federal lawsuit alleging it steered blacks into subprime mortgages. The New York Times reports that Well Fargo employees employees referred to blacks as &quo...
Banks fight to keep accounting tricks
in Sox First, on June 6, 2009
...he banks to take that lying down. Up until now, the banks had kept assets and liabilities including mortgages and credit-card receivables off their balance sheets and regulators say the change will re...
Be honest with your finances before taking on a mortgage
in The Mortgage Roadmap, on June 2, 2009
...loan payments if they lost their jobs. Others just aren't bringing home enough income to handle mortgages of certain sizes.
It may seem painful for borrowers to have to pass on what they think is...
More housing woes
in Sox First, on May 30, 2009
...in sight. According to those figures, "the percentage of mortgage holders not current on their mortgages, was 12.07 percent on a non-seasonally adjusted basis, the highest ever recorded in the MB...
Mortgage interest rates went up. Don't panic!
in The Mortgage Roadmap, on May 28, 2009
...rate of 5.45 percent. That's up from 5.24 percent a week ago.
Rates rose on 15-year fixed-rate mortgages, too. Those rates jumped to 4.86 percent, according to Bankrate, from 4.74 percent one wee...
Loan modifications not always helping homeowners
in The Mortgage Roadmap, on May 26, 2009
...the higher number holds true - that 75 percent figure - that still means that 25 percent of failing mortgages did not go into delinquency again.
That may seem like a small percentage, but to the fami...
Will federal mortgage loan assistance hurt your credit rating?
in The Mortgage Roadmap, on May 18, 2009
For homeowners struggling to make their mortgage payments, the federal government's new Making Home Affordable program — which lets homeowners refinance their existing mortgage loans or modify them to make their payments more affordable — might be a blessing.
The federal governme...
More bad news: Housing foreclosure activity remains at record levels
in The Mortgage Roadmap, on May 14, 2009
You can always count on RealtyTrac for bad news, at least these days.
The online provider of foreclosure data didn't disappoint this month, when it released its April foreclosure report . The report showed that housing foreclosure activity remained at record levels during the month.
Acc...
Downturn easing without recovery
in Sox First, on May 12, 2009
...nks have access to low-cost funds, and lending rates are high. If nothing nasty happens - losses on mortgages, commercial real estate, business loans, and credit cards - the banks might just be able t...
Bankroll blues
in Sox First, on May 7, 2009
...ith this is the second report, published here , showing that the top 25 US originators of subprime mortgages spent millions bribing politicians to avoid tighter regulation of their industry. Accordin...
Animal Spirits by George Akerlof and Robert Shiller
in Sox First, on May 4, 2009
...amp;L) crisis, the 2001 recession by Enron and the latest by the totally amoral selling of subprime mortgages to people who would never be able to repay them, and their securitization in packages that...
TARP fraud investigations
in Sox First, on April 21, 2009
...andon its planned structure for buying the toxic securities, which include intricate bundles of bad mortgages and loans. That's unlikely to happen which means we will get more fraud investigations...
Hope, greed, fear and the financial crisis
in Sox First, on April 17, 2009
...t bubbles. But instead of winding back market activity, we need initiatives like continuous workout mortgages that automatically adjust the terms of the loan to the borrower's ability to pay, hous...
More bad news ahead, says Roubini
in Sox First, on April 8, 2009
...g a steep decline in the the use of credit cards and Reuters reporting that 7% of homeowners with mortgages were at least 30 days late on their loans in February, up 50% from a year ago. The scary p...
The Bernanke-Obama dance
in Sox First, on February 25, 2009
...onsible families facing the threat of foreclosure lower their monthly payments and re-finance their mortgages. It's a plan that won't help speculators or that neighbor down the street who boug...
The meltdown's rogue gallery
in Sox First, on January 26, 2009
...ushroomed under his regime and who backed sub-prime lending and urged homebuyers to swap fixed-rate mortgages for variable rate deals, which left borrowers in the dog house when rates rose. Other incl...
Britain Starts Offering "Lifeline Credit" To Small Businesses Today
in Exclusive from our news room , on January 13, 2009
...s of the Business Ministry which has funds sufficient to refinance up to 20 billion pounds worth of mortgages.
Here's the details from "The Guardian" .
...
Fixing the financial system
in Sox First, on January 12, 2009
...utual funds. He says there is also a need to establish a new department to facilitate workouts for mortgages and other loans, getting around the problem that so many of these loans have been securiti...
Why did the housing meltdown happen in the US?
in Sox First, on December 8, 2008
...bust. First, there is the US tax system which, unlike other parts of the world, allows interest on mortgages for owner-occupied homes to be deductible against income tax. The imputed rent from owning...
No quick fix for US housing market
in Sox First, on December 6, 2008
The US housing market continues to go from catastrophic to worse, with delinquency rate for Mortgage loans, 90 days overdue, has hit record levels, according to the latest figures from the Mortgage Bankers' Association . The problem is that at the height of the real estate boom, borrow...
The Subprime Solution - Robert Shiller
in Sox First, on December 1, 2008
...eal estate futures. He proposes Governments to issue debt indexed to their GDP, continuous work out mortgages, home equity insurance and livelihood insurance. "Modern finance, applied democratic...
Rubin's self-serving "innocence"
in Sox First, on December 1, 2008
...t a CDO was,' Mr. Rubin said, referring to collateralized debt obligations, instruments tied to mortgages and other debt that led to many of Citigroup's losses. "Mr. Rubin said the decis...
Shopping malls crunched
in Sox First, on November 28, 2008
...s one different is that the banks don't actually hold the loan. The loans were packaged up into mortgages and sold to pension funds, insurance companies and hedge funds as an investment. And now t...
Gouging with the bailout?
in Sox First, on November 24, 2008
...ome industries being propped up and others left to die? Why has it changed from buying up the toxic mortgages that started the meltdown to throwing a lifeline to bad banks? These are the implications...
Bailout blues won't stop foreclosures
in Sox First, on November 13, 2008
...rms of consumer finance. But as he indicates here , he won't do anything about buying bad home mortgages and ensuring people don't lose their homes. The political tensions over the issue are...
GM: Death or bailout?
in Sox First, on November 12, 2008
...may be emotive, but GM's problems are not the same as the banks'. People still want to take mortgages out, write cheques and save money. They don't want to buy cars."...
Obama's to-do list
in Sox First, on November 8, 2008
... he will have to stop more home foreclosures, changing the bankruptcy laws to allow judges to reset mortgages. Expect more protectionism but addressing the apartheid-style health care system in the US...
Deutsche Bank's accounting shell games
in Sox First, on November 5, 2008
... solve the problem. When financial markets were up, such assets as loans, securities, derivatives, mortgages, property, also rose in value, showing the banks to be strongly capitalized. The message: ...
Competing for bailouts
in Sox First, on October 27, 2008
...s crisis grew to such large proportions because of the financial instruments that allowed risk from mortgages and other debt to be borne by one party, while giving the rewards to another ... If the bi...
One Version of How the Meltdown Happened
in The Personal Finance Weblog, on October 20, 2008
...vities for poor people began to complain that poor people and especially non-white poor people got mortgages much less often than white well to do people. Many economists, including me, explained that...
Forecasts of the economic disaster
in Sox First, on October 13, 2008
...hem. Meanwhile, banks and credit-rating agencies pretended that financial alchemy could convert bad mortgages into AAA assets, and the Fed looked the other way as the U.S. household-savings rate plumm...
If You Had to Choose, Would You Pay Your Mortgage First or Your Credit Card Bill?
in The Personal Finance Weblog, on October 6, 2008
... one reported on by the New York Times ) that suggest people are more likely to skip paying their mortgages than keeping up with their credit card payments or car payments. That is, if they don'...
Less Stimulating Than Hoped?
in The Personal Finance Weblog, on October 2, 2008
...willing to take the bet that an extra $9000 for our family would be better spent than buying up bad mortgages with it. I thought we were an "ownership society" now. How about letting the fin...
How the Credit Crisis is (Sort Of) Like 9/11
in The Personal Finance Weblog, on October 1, 2008
...aking our heads from afar at the greed of Wall Street and the stupidity of Willy -nilly subprime mortgages could now morph into a financial crisis that will personally touch us, that really could c...
Can the bailout fix things?
in Sox First, on September 29, 2008
...ement. Rather than bailing out Wall Street, we propose that the government should buy up the actual mortgages in question and do nothing else. The government should not touch any derivatives, that is,...
Washington Mutual - another one bites the dust
in Sox First, on September 26, 2008
... been cut to junk status by Standard&Poor's. It has already lost $6.3 billion on subprime mortgages and was facing $19 billiion in losses over the next two and a half years. An even more ...
Bailout blues
in Sox First, on September 25, 2008
...ed provisions: too much power for the Treasury secretary; authority for bankruptcy judges to modify mortgages. Congress faces a wrenching dilemma, imposed on it by financial markets and Paulson. If it...
Bad mortgage bailout pain
in Sox First, on September 21, 2008
...net) losses (after foreclosure and recovery) that we have anticipate for residential and commercial mortgages in the US financial sector. "If this turns out to be a 'soft option' bailout...
Credit crisis: views from the inside
in Sox First, on September 18, 2008
...h of the financial turmoil these days. We calculated the probability of home owners prepaying their mortgages and sliced and diced the cash flows from pools of mortgages to sell off the different piec...
Is AIG next?
in Sox First, on September 16, 2008
...many companies world-wide to manage a range of risks, including exposure to investments in subprime mortgages. Its demise would potentially make it harder or more expensive for businesses to control t...
Bankruptcy at Lehman Brothers
in The Hedge Funds Weblog, on September 15, 2008
...assets.
Investors in recent weeks had grown increasingly jittery about Lehman's $46 billion of mortgages and asset-backed securities, as well as its credit rating and its ability to raise capital...
The Fannie and Freddie band-aid
in Sox First, on September 8, 2008
...In the long term, the government has no option but to shrink the balance sheets of the GSEs, making mortgages more difficult to get and more expensive, unless a new Democrat administration chooses an ...
