mortgages

Mortgage fraud was rampant during the housing boom. Regulators were asleep at the wheel during all of this. But now we are getting some indictments as WFAA News 8 in Dallas reports (hat tip Housing Wire). This television station did the…

I see Diana Olick’s recent comments about government mortgage modification programs as proof that these props will not work. She says: Despite extraordinary loss mitigation efforts that have resulted in the execution of approximately…

John Hussman notes that the very large non-subprime Alt-A and Option ARM cohort interest-rate resets lie ahead of us and not behind us in his latest weekly market commentary. In my view, this is a very big problem for the US banking sector…

FT Alphaville – Tracy Alloway – Some useful things I’ve learned about Germany’s hyperinflation’ Another Real-Time Economic Indicator Is Rolling Over And Showing Contraction FT.com – Martin Wolf – Germany's eurozone crisis nightmare…

About a month ago I wrote a post called “The coming wave of second mortgage writedowns” the gist of which was that the big four banks (Citi, JP, BofA, and Wells) had a shed load of exposure to now worthless second mortgages. With many first…

Expect a companion piece to this based on what is now happening in Europe. To put it simply, it is all bailout all the time as officialdom desperately uses extend and pretend liquidity to forestall the inevitable solvency problems. This…

The National Association of Realtors® announced today that existing home sales dropped a hefty 7% in January, adding further evidence that the resurgence of the housing sector is stalling. Wednesday, we saw a very soft new home sales…

AIG posts $8.9 billion loss | Reuters CDS demonization watch, Greece edition | Felix Salmon Get a Credit Card Through Credit Unions and Small Banks to Save – Credit Cards – Lifehacker Welcome to the revolution Mr. Weidner – Abnormal…

I am back from a week in Mexico.  And here in DC there are still mountains of snow on the ground. Here are some links I picked up on yesterday on my way home. Cheers. Edward PS. – the article from Worthwhile Canadian Initiative is…

Folks, if I can get out of here , I will.  I need the sun and that relaxation that only Mexico can provide.  So expect light posting next week.  Meanwhile, DC expects yet more snow on Monday (ha ha ha – Schadenfreude – ha…