Notable Links
Straight Talking Common Sense Obama Must Destroy Detroit, So America Can Live – Evan Newmark Dear President Obama, Who said life was fair? You’re in office less than a month and the markets already hate your presidency, [...]
Jet Age “Run On The Bank” In Antigua
Stanford Depositors Head To Antigua Depositors from as far away as Colombia have begun arriving in the island nation of Antigua, seeking to withdraw their money from an offshore bank under investigation by U.S. state and federal [...]
Banks Restrict Mortgage Lending To A+ Customers Only
Latest Changes Eliminate More Borrowers From Mortgage Market As written previously, for those without impeccable credit, adequate income and loan to value below 70%, the low advertised rates are not available. See All Time Low Rates For [...]
“Financial Catastrophe” – Part II
President Predicting Catastrophe President Obama declared today that “A failure to act and to act now will turn crisis into catastrophe and guarantee a longer recession.” Alan Blinder, a former vice chairman of the Federal Reserve, echoed [...]
Fannie and Freddie – The New Subprime Lenders
Fannie and Freddie Impose Huge Fees On Borrowers Freddie Mac last week announced additional fees for condo owners who refinance, effective April 1, 2009. The fee mirrors a similar charge imposed by Fannie Mae last year. Both [...]
New Federal Standards For Mortgage Industry Largely Irrelevant
Obama Plans Fast Action to Tighten Financial Rules WASHINGTON — The Obama administration plans to move quickly to tighten the nation’s financial regulatory system. Officials say they will make wide-ranging changes, including stricter federal rules for hedge [...]
Insolvent Banking System Eludes Government Containment
Denial Of Reality Becoming Impossible The game of pretending that the world banking system and national governments are solvent becomes more difficult by the hour. The true magnitude of the write downs that the banking industry needs [...]
Congress Proposes Cram-Downs As New Mortgage Solution
The plight of homeowners delinquent on their mortgages has been the focus of much debate lately. There have generally been two major lines of thinking: -The best course is to let free market principles apply. If homeowners [...]
Few May Benefit From Lower Mortgage Rates
Rates Increase Mortgage rates increased today on a sell off in the Treasury market. The benchmark 10 year treasury note increased in yield by 16 basis points (bps) to 2.244%. The 2008 low on the 10 year [...]
