Posts about Mortgage Market Report as of June 9, 2009

Mortgage rates appear to have crested today.  Yesterday, I talked about how we’ve been climbing the mortgage rates mountain and today it appears we’ve reached a mesa.  The problem I have now is that I don’t know if the climbing party (READ: mortgage

As the unemployment rate continues to grow it is hitting an increasing number of people who had prime mortgages … , according to the Mortgage Bankers Association. “ At the end of the fourth quarter, 2.4% of prime … to a report by the Office of the Comptroller of the Currency and the Office of Thrift Supervision.”

Despite plenty of good news on the housing and homeowner loan front over the past few months, … . According to the latest monthly report from mortgage sourcing system Mortgage Brain, the total … of the last three months, these figures just go to show how badly the mortgage and home owner loan markets

Mounting evidence shows that white-collar crime increases during a recession. The 2009 Report to the Nation on Occupational Fraud & Abuse study conducted … . The report also projects that U.S.-based companies lose 7% of their annual revenue to fraud

Consider these stark statistics on the ongoing mortgage crisis in the United States: Nationwide, 68 percent of U.S. adults own their own homes, and about two-thirds have mortgages. Given recent market trends … News, March 4, 2009). 2 If the value of a home becomes less than the mortgage on it, a basic

From Chicago Public Radio… This American Life … ~~~~ Since Congress hasn’t held 1930’s-style hearings into the causes of the financial … of the 1929 stock market collapse.  It spurred Congress to pass landmark reforms regulating Wall … . (9 minutes) Act One. Investigation Report #1. Planet Money reporter Chana Joffe-Walt asks a simple

  To Our Clients, Colleagues and Friends,  A total of $204 billion in commercial mortgage loans come due this year, and the problem is that most bank-originated commercial mortgages

I have written several times before about how much I enjoy lending people money on the peer-to-peer (P2P) loan website, Lending Club … is 14.54%.  And, I do not need to tell you what a great return that is in today’s crazy market … pulls their credit report for lenders to see certain aspects. I like to see people asking for a loan

On October 14, 2008, Secretary of the Treasury Paulson and President Bush separately announced revisions in the TARP program. The Treasury announced their intention to buy senior preferred stock and warrants in the nine largest American banks. The shares would qualify as Tier 1 capital and were non-voting shares

THE OBAMA PRESIDENCY: (President Barack Obama listens as Vice President Joe Biden (left) presents the report on the Roadmap to Recovery as he meets with his Cabinet in the State Dining Room of the White House, Monday, June 8, 2009. Looking on at right are Attorney General Eric Holder

Parliament’s Finance and Expenditure Committee has issued a report challenging New Zealand’s Australian-owned banks to pass on more of the April … in its report into the Reserve Bank’s May Financial Stability Report that it was surprised bank … for floating mortgages. The Reserve Bank was disappointed at the response of the banks’ floating mortgage

FTSE 100 4405.22, -33.34 Dow 8764.49, +1.36 FTSE 250 7687.86, -59.47 Nasdaq 1842.40, -7.02 FTSE All Share 2251.85, -16.84 S&P 500 939.14, -0 … to people familiar with the matter. Despite the more gloomy mood in the market, further evidence pointed

What should you do if you are among the millions of homeowners who can’t pay their mortgage because of our current economic crisis? … to fall behind on their mortgage payments.  If you are unable to make your payment, there are options … . Communicate, and be Organized If you are having trouble and need help to pay your mortgage, you first need

By Wes Goodman … in coming,” Andrew Balls , a managing director for the company in London, wrote in a report … . The report helped ease speculation the Federal Reserve is moving closer to raising rates

    and  Geithner Rents Westchester Home After Failing to Sell – By Brian Louis – …  is renting his home in Westchester County, New York, … economist, says buyers are responding to very favorable market conditions. “Housing affordability … to impact the market,” he says.  – MORTGAGEORB.COM ———— Quick Hits – by Kid Dynamite – I loved

The biggest story from last week, and one which I am monitoring very closely, is the rise of interest rates in the US … is a major factor for US mortgage rates and for the hopeful turnaround in housing values and sales. US mortgage rates have jumped almost 28% during the past few weeks and this continues be a major

Unemployment is worse than they predicted , and The Obama plan to fix mortgage rates appears to be doing the opposite … mortgage rates and breathe life into the housing market. But this and other big government … jobless report showing the highest unemployment rate the United States has seen in more than 25 years

Last week we were spot on in our assessment that although SCOTUS nominee Sotomayor’s appearances on Capitol Hill, and Pres … .  The New York Times’ Louise Story and Eric Dash report today that Secy. Geithner is testifying next

Forex: USD/CHF stays above 1.0900 (The Forex Market) FXstreet.com (Córdoba) – Dollar is falling across the board during the American session … : Pound touches 1.6100 and returns to 1.6050 (The Forex Market) FXstreet.com (Córdoba) – GBP/USD … Futures Volumes – Jun 8 (The Forex Market) For today, in contracts. FOREX-Euro hurt

One of the many things I have realized during this crisis is people will flat out make things up when it comes to housing … for more historical reasons like job losses and this is spilling over into the prime mortgage market … to $500 billion in Alt-A mortgages floating in our market .  And let us for argument sake, set aside

Here’s my Top 10 links from around the Internet in the last 24 hours or so at 10 am. I welcome your additions in the comments below … . We heard yesterday from the NZHerald of a Companies Office report that Rod Petricevic used Bridgecorp as his “personal bank”. Today the NZHerald has drip-fed out more of the report, including

Quote: Thanks to the latest testimony from two Wells Fargo loan officers, this wasn’t all about unregulated, … mortgage had an emerging-markets unit that specifically targeted black churches, because it figured church

The President and Vice President met with Cabinet officials today to discuss the wide-ranging effects of the Recovery Act, as well as an ambitious plan announced by the Vice President this morning to accelerate efforts for the next 100 days called the Roadmap to Recovery

Another lesson for those who think they want to fight the Invisible Hand – just as that Friday the week before last, … with untold billions decided they REALLY needed to get into the market and they could not spread the buys … to spike the index. Clearly the free market is working its magic here…. yep. Or maybe

And there’s a bridge in Deseronto he’d like to sell you. Allow StatismWatch to suggest a little historical context. The charts below are of the various rallies during the Great Depression (Dow) and the most recent year on the DOW and TSX. The time scale at the bottom of the 1930s chart covers a period of four years,

JPMorgan Chase has a “community support” page entitled “ The Way Forward .” It features a report by JPMorgan executive Michael Cembalest on the credit crisis called “ The Big Dig ,” which tries to argue that bank lending has actually increased during the credit crisis

  After having a whole day of quilting on Tuesday I was looking forward to my Wednesday coffee with friends, Tania and Mo. As I walked into Mo’s kitchen I was not actually surprised to see a large gosling flip-flopping around the kitchen. Mo is babysitting her for another friend

JPMorgan Chase has a “community support” page entitled “ The Way Forward .” It features a report by JPMorgan executive Michael Cembalest on the credit crisis called “ The Big Dig ,” which tries to argue that bank lending has actually increased during the credit crisis

ECONX Jobs Report Surprises The market got a kick out of the May employment report, … of Defaults’ was surging even before mortgage rates spiked. In the last 30 days mortgage rates

Nearly 80% of Americans carry credit cards and about 44% of those individuals with credit cards carry credit balances … companies to contributing to the down market economy.  While Obama expects American consumers … are entitled, by law, to one free credit report per year from each of the three major credit reporting

by Addison Wiggin & Ian Mathias Finally, Americans are saving more than spending… can it last? Pivotal week for Treasuries, U.S. debt outlook… Bill Gross on investing accordingly Chris Mayer says banks still in trouble… even those begging to repay TARP loans Canada strikes back… angry mayors pass “Buy Canadian”