Posts Tagged ‘mortgage’Mortgage Reform: Why Government Intelligence is OxymoronThis post first appeared on Minyanville and our sister site Dawn Patrol. After leading the banking sector to its largest ever one-day drop yesterday, Washington Mutual (WM), in an effort to assuage concerns that it’s facing a cash crunch, released a statement claiming that the bank is “well-capitalized.” Though the stock bucked the trend this [...] The Silent KillerWhat’s the silent killer that’s been largely ignored by the financial media as it tries to keep up with the quickly unraveling mortgage crisis? Fraud. While there are many causes for the current meltdown, the most unexplored and and least discussed is fraud. FraudBlogger.com reported yesterday that there were $1.7 billion active cases of criminal [...] House of the Day: Swinging into StantonClick here for the results of this House of the Day. Today’s property is located in Stanton, CA a suburban neighborhood smack in the middle of Orange County. (Click to enlarge image) Home Details: – 8511 Chanticleer Rd, Stanton, CA 90680 – 3 Bedrooms – 1 Bathrooms – 1347 square feet living area – 0.17 [...] Lone Voice Calls for Intelligent Mortgage ReformWhile Congress deliberates on the future of the nation’s mortgage market, some within the government are calling for restraint in regulatory reform. Housingwire.com reports William Emmons, an economist at the St. Louis Fed, is calling for patience and social support as the clearest way to economic recovery. Emmons makes the argument that government intervention, particularly [...] Credit Contraction ContinuesIn further evidence of the ongoing credit contraction, Mortgagedaily.com reports Lehman Brothers is shuttering its Small Business Finance unit. The division made small commercial mortgage loans to individuals and corporations. The closure is the latest in Lehman’s efforts to shrink its mortgage business and reduce exposure to the US housing market. Lenders everywhere are reducing [...] House of the Day Results: Falling Over FallbrookClick here for details on this House of the Day Value: $250,000 Projection: Depreciating Fallbrook is located in Eastern San Diego County, just south of Temecula along Interstate 5. The city and the surrounding area are being adversely effected by the economic slowdown, as much of the growth in the area was due to new [...] California, New York Lend a Hand to Struggling BorrowersThe real estate and mortgage industries are busy battening down the hatches for the inevitable tidal wave of regulatory reform. Meanwhile, Housingwire.com reports government officials are already hard at work trying to outdo each other as the protector of the “everyday common household victim” of our “national crisis.” Two illustrative examples of regulatory restructuring have [...] |