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- New Rules For Credit Ratings Agencies
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(Please visit the site to view this media)The SEC voted today to finalize new rules designed to curb conflicts of interest and promote competition in the ratings business. James Gellert, CEO of Rapid Ratings International, and Ron Geffner, of Sadis & Goldberg, share their insight….
Original Source: www.mortgagenewsdaily.com
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3 December, 2008| housingblogs |
Comments (0) @ 14:10
- Americans expect housing prices to bounce back soon
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Some people never learn:Many Americans still see real estate as their best shot at wealth. In survey after survey, people expect prices to bounce back — in some cases, as soon as six months from now.Those hoping for a quick rebound are likely to be disappointed. Economists and other pros generally say home prices won’t bottom out before the second half of 2009, and some don’t see a bottom until 2011 or 2012. Even when they stop falling, prices may scrape along the bottom of the rut for years….
Original Source: bubblemeter.blogspot.com
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3 December, 2008| housingblogs |
Comments (0) @ 13:40
- WSJ: Treasury Considers Plan to Lower Mortage Rates to 4.5%
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From the WSJ: Treasury Considers Plan to Stem Home-Prices Decline The Treasury Department is considering a plan to revitalize the U.S. housing market by reducing mortgage rates for new home loans … The plan, which is in the development stages, would use mortgage giants Fannie Mae and Freddie Mac to bring loan rates down as low as 4.5%, a full percentage point lower than the prevailing rates for 30-year fixed mortgages…..
Original Source: feedproxy.google.com
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3 December, 2008| housingblogs |
Comments (0) @ 13:32
- Wall Street’s New Love Affair
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(Please visit the site to view this media)There's a new love affair developing on Wall Street between the heads of two traditionally bitter rivals, reports CNBC's Charlie Gasparino….
Original Source: www.mortgagenewsdaily.com
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3 December, 2008| housingblogs |
Comments (0) @ 12:54
- U.S. Financial System Outlook
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(Please visit the site to view this media)An outlook on the U.S. financial system, with Paul Miller, of FBR Capital Markets, and Frederick Lane, of Lane Berry & Co….
Original Source: www.mortgagenewsdaily.com
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3 December, 2008| housingblogs |
Comments (0) @ 12:54
- BofA CEO: No "short-term rays of sunshine"
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From the Charlotte Business Journal: Charlotte CEOs see tough times, hope for recovery in 2009 Ken Lewis, CEO at BofA … said he was hopeful conditions would improve in the second half of next year. He sees no bright spots for the economy before then.“Times are really tough, and we don’t see any short-term rays of sunshine,” he told the more than 600 attendees at the Westin Charlotte hotel. When the panel was asked for advice on how to get through the next six months, Lewis recommended a conservative strategy of hoarding cash and capital and waiting for the storm to pass. “Think of getting through this as the primary objective,” he said.H…
Original Source: feedproxy.google.com
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3 December, 2008| housingblogs |
Comments (0) @ 12:50
- Bloggers Under Attack Again
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This just in from Blown Mortgage.[1]
I wrote a year ago about the site, Mortgage Lender Implode-O-Meter, being sued by a mortgage company for damages allegedly tied to the company’s listing on the site’s imploded lender list. The claims were fanciful, with the lender claiming that their bank accounts had been drained by institutional warehouse lenders and other sorts of malarky that made the suit look exactly as it was: an attempt to simply shut-up the good folks at Implode by a brute force legal battle where they figured to have the upper-hand in capital to silence the critics.
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Original Source: housingdoom.com
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3 December, 2008| housingblogs |
Comments (0) @ 12:33
- [FedSpeak] Beige Colored Glasses
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The Federal Reserve just released the Beige Book, at 2pm today which provides anecdotal commentary on the economy nationally and across the regions of its member banks.
Here’s real estate and mortgage excerpts from t…
Original Source: matrix.millersamuel.com
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3 December, 2008| housingblogs |
Comments (0) @ 12:31
- Lying to Exploit Fear
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Liar—Queen
Liar I have drunk the wine (or kool aid)Liar time after time
Not long ago, we had a realtor trolling the forums. He tried all the standard hooks, but he found those fish were not biting. One of the more ridiculous ideas he put out there was the notion, “You can’t predict which way the market will go, so you should buy.“ WTF? Anyone with half a brain or any amount of investment experience would know the old truism, “When in doubt, stay out.“ Beyond that the remark is stupid for another reason: it is pretty obvious that the market is going to go down. The decline has momentum, we are entering a recession, and prices are still greatly inflated.
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Original Source: http://feeds.feedburner.com/IrvineHousingBlog
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3 December, 2008| housingblogs |
Comments (0) @ 12:30
- Reaction to the Latest Beige Book
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(Please visit the site to view this media)
Analysis of the Fed's latest Beige Book, with Zane Brown, fixed income strategist at Lord Abbett, and CNBC's Steve Liesman…
Original Source: www.mortgagenewsdaily.com
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3 December, 2008| housingblogs |
Comments (0) @ 12:15
- Bulk home buying anyone? Say, $1,500 a house?
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OK, get your checkbooks out. These do sound like fire sale prices. Too bad everyone will take a cut along the way and ramp the prices back up. Pete from Mar Vista calls our attention to Tuesday’s Wall Street Journal story, "Lenders Tiptoe Into Bulk Sales":As the glut of foreclosed homes swells, banks and other lenders are starting to warm to the idea of selling some of the homes in bulk to investors, a departure from the practice of selling homes one at a time.
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Original Source: feeds.latimes.com
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3 December, 2008| housingblogs |
Comments (0) @ 11:50
- Catching the Falling Knife Even At $150/sqft?
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How can you lose at $150/sqft? Sure you can, especially if you purchase in a tract developed during the peak of the bubble and is loaded with foreclosures.Silver Crest is a gated community built by Centex Homes back in 2004-2005. These homes are conveniently located. They are close to Route 78 as well as the new Sprinter line and just minutes away from Cal State San Marcos. (the homes in question today do not back up to the track nor have freeway noise issues)…
Original Source: bubbletracking.blogspot.com
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3 December, 2008| housingblogs |
Comments (0) @ 11:48
- Bloggers Under Attack - Part 2
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I wrote a year ago about the site, Mortgage Lender Implode-O-Meter, being sued by a mortgage company for damages allegedly tied to the company’s listing on the site’s imploded lender list. The claims were fanciful, with the lender claiming that their bank accounts had been drained by institutional warehouse lenders and other sorts of malarky that made the suit look exactly as it was: an attempt to simply shut-up the good folks at Implode by a brute force legal battle where they figured to have the upper-hand in capital to silence the critics.
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Original Source: http://feeds.feedburner.com/typepad
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3 December, 2008| housingblogs |
Comments (0) @ 11:29
- Renting in and Around Seattle Still the Smart Financial Move
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Let’s take an updated look at some Seattle-area rent vs. buy comparisons to see if the situation has improved at all since we analyized it last summer. Back then, the real-world example I used compared two similar homes in K…
Original Source: http://feeds.feedburner.com/SeattleBubble
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3 December, 2008| housingblogs |
Comments (0) @ 11:26
- What is Fed Policy Right Now?
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(Please visit the site to view this media)
There is a lot of confusion in the markets about what Fed policy is right now, with CNBC's Steve Liesman…
Original Source: www.mortgagenewsdaily.com
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3 December, 2008| housingblogs |
Comments (0) @ 11:00
- Mortgage Applications Surge
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(Please visit the site to view this media)
Mortgage applications are surging, reports CNBC's Diana Olick….
Original Source: www.mortgagenewsdaily.com
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3 December, 2008| housingblogs |
Comments (0) @ 11:00
- What does this mean…..
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This is an excerpt from a job advert for a communication specialist to work for a Northern city council. I love this stuff…..”It is essential that you are able to work effectively within a political environment, managing stakeholders in a diplomatic and tactful manner steering toward the delivery of a highly targeted and focused community marketing communications campaign.Here at Rotherham Council we are committed to delivering the Governments Empowerment Agenda, and now were looking for someone equally as enthusiastic to step into this new role and make a real impression. Acting as the single point of contact and support for tenants and residents groups, you will be our lead officer supporting, advising and guiding tenants and residents who want to take ownership of managing their own homes.”…
Original Source: ukhousebubble.blogspot.com
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3 December, 2008| housingblogs |
Comments (0) @ 10:46
- The Home That Was To Be Their Nest Egg
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ABC 7 News reports from California. “Monday was just another day at Marsh Creek Elementary in Brentwood. School keeps kids focused on things other than the housing slump which has devastated this community. Just a few miles away is the City of Oakley where 620 homes so far this year have been lost to foreclosure. ‘If you drive through a subdivision you see all these vacant and empty homes, and the prices on the homes are 50 percent less than what they paid just two years ago,’ said teacher Dave Behling.”
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Original Source: thehousingbubbleblog.com
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3 December, 2008| housingblogs |
Comments (0) @ 10:28
- On Tanta: Mortgage Pig for Charity and Compendium
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Tanta and her sister were working on a line of Mortgage Pig™ Wear before Tanta passed away. Please see the note from Cathy (Tanta’s sister).Check it out - a great holiday gift - and the proceeds go to cancer cure and care organizations.Also, I’m putting together a c…
Original Source: feedproxy.google.com
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3 December, 2008| housingblogs |
Comments (0) @ 10:17
- North Jersey October Residential Sales
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Preliminary October sales and inventory data for Northern New Jersey (GSMLS) is in. Please note that this data is subject to revision.
The first graph plots the unadjusted sales data (closed sales) for the counties listed. Please note the lower bound of the graph, it is set to 500, not to zero. I do this to emphasize the seasonal nature of the Northern NJ market.
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Original Source: njrereport.com
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3 December, 2008| housingblogs |
Comments (0) @ 9:48