HUD Imposes Dramatic Restrictions On FHA Cash Out Refinances
FHA Tightens Rules Again First there was an increase in the required credit scores to be eligible for FHA financing. (See FHA Increases Minimum Credit Score Requirement). Now comes a major tightening of the rules on FHA [...]
Loan Modification Searches Go Parabolic – Making Home Affordable Guidelines
Loan Modification Enters Mainstream Vocabulary If you had used the term “loan modification” six months ago, most people would have given you a blank stare. With the passage of the Homeowner Affordability and Stability Plan, the term [...]
Are Geithner’s Days Numbered? Banks And Investors Have Zero Confidence
First Impressions Hard To Reverse The old saying in the recruiting business is that one is judged in the first 15 seconds of a job interview. Irregardless of what happens for the rest of the interview, that [...]
Bank Of England’s Desperate Last Tactic Forestalls British Sovereign Default
Printing Money – Final Desperate Tactic The Bank of England is engaging in a massive repurchase of British debt in an attempt to pump cash into a crashing British economy. The Bank of England’s money printing is [...]
Banks Push Back On Bailout – Wells Fargo Calls Stress Test “Asinine”
Wells Fargo Discovers High Cost Of Government Help Wells Fargo Chief Calls Stress Test Asinine March 16 (Bloomberg) — Wells Fargo & Co. Chairman Richard Kovacevich criticized the U.S. for retroactively adding curbs to the Troubled Asset [...]
AIG Says We Must Retain The Talented Staff That Lost $170 Billion
According to AIG, Good Work Must Be Rewarded Record Loss AIG, whose fourth-quarter loss was the worst in corporate history, earmarked $1 billion in retention pay for about 4,600 of the company’s 116,000 employees so they won’t [...]
The Dow Jones Is Really At 1,000
Larry Summers Says Buy Stocks The President’s economic advisor, Larry Summers, noted last week that: “Although there could be many ways to question this calculation, that the market would be at essentially the same real level as [...]
Where Is The Physical Gold And Why Does US Restrict Gold Purchases? Does The GLD Have Any Gold?
Strange Situation In The Gold Market Two recent articles seem to suggest that there is a large physical shortage of gold. Is the physical shortage of gold the reason for the large restriction in US Mint gold [...]
China Questions US Solvency – US Says Not To Worry
US Insists China Fears Over Debt Unfounded The Obama administration rejected China’s concerns that its vast holdings of U.S. assets might be unsafe, in an unusual diplomatic exchange that underscored the global importance and the potential fragility [...]
