LETTER: Housing Aids the Economy
The chairman of the National Association of Home Builders responds to a Stocks and Bonds column.
Saturday, December 31, 2011
Friday, December 30, 2011
Article: Mortgage aid programs still have trouble helping homeowners in distress - BostonHerald.com
Mortgage aid programs still have trouble helping homeowners in distress - BostonHerald.com
http://ads.pointroll.com/clients/pointroll/cookie/drop.ashx?name=PRpc&date=31+Dec+2030+00%3A00%3A00&value=%7CF9EoGOoT%3A1%7CF9EtGOoS%3A1%7CF9EnGOoS%3A1%7CGYFqGAgu%3A1%7CGYFrGAgt%3A1%7CGYFsGAgu%3A1%7C%23&domain=ads.pointroll.com
Article: Unemployment improving, housing prices remain low - SGVTribune.com
Unemployment improving, housing prices remain low - SGVTribune.com
http://www.sgvtribune.com/business/ci_19640548?source=rss
Thursday, December 29, 2011
Article: Freddie Mac: Mortgage Rates to Stay Low in 2012 - TheStreet
Freddie Mac: Mortgage Rates to Stay Low in 2012 - TheStreet
http://www.thestreet.com/story/11358379/1/freddie-mac-mortgage-rates-to-stay-low-in-2012.html
Article: Victims of BofA discrimination sought - Nashville Business Journal
Victims of BofA discrimination sought - Nashville Business Journal
http://www.bizjournals.com/nashville/morning_call/2011/12/victims-of-bofa-discrimination-sought.html?ana=RSS&s=article_search&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+bizj_nashville+%28Nashville+Business+Journal%29
Article: Economists aren't very hopeful about 2012 - Business - Nation - TheState.com
Economists aren't very hopeful about 2012 - Business - Nation - TheState.com
http://www.thestate.com/2011/12/28/2093727/economists-arent-very-hopeful.html#RSS=untracked
Wednesday, December 28, 2011
NYTimes: No Relief in Report on Housing
From The New York Times:
STOCKS AND BONDS: No Relief in Report on Housing
Stocks were fractionally mixed in slow trading on the first business day after Christmas. Economic data continued to send conflicting signals, with housing still stagnant.
Tuesday, December 27, 2011
Article: Firms Give U.S. Plans to Rent Seized Homes - Bloomberg
Firms Give U.S. Plans to Rent Seized Homes - Bloomberg
http://www.bloomberg.com/news/2011-12-27/deutsche-bank-among-firms-giving-u-s-plans-for-renting-foreclosed-homes.html
Article: Analysis: U.S. rental demand lifts housing sector | Reuters
Analysis: U.S. rental demand lifts housing sector | Reuters
http://www.reuters.com/article/2011/12/27/us-usa-housing-rentals-idUSTRE7BQ03U20111227?feedType=RSS&feedName=businessNews
Monday, December 26, 2011
Article: Mortgage deals are there, if you look - Home & Garden - MiamiHerald.com
Mortgage deals are there, if you look - Home & Garden - MiamiHerald.com
http://www.miamiherald.com/2011/12/25/2556754/mortgage-deals-are-there-if-you.html
Article: Foreclosures on members of the military draw ire | HamptonRoads.com | PilotOnline.com
Foreclosures on members of the military draw ire | HamptonRoads.com | PilotOnline.com
http://hamptonroads.com/2011/12/foreclosures-members-military-draw-ire
Sunday, December 25, 2011
Article: Foreclosures drag down home market | The News Journal | delawareonline.com
Foreclosures drag down home market | The News Journal | delawareonline.com
http://www.delawareonline.com/article/20111225/BUSINESS/112250324/1003
NYTimes: Getting Back in the Black
From The New York Times:
MORTGAGES: Getting Back in the Black
There are steps you can take to keep your home if you find yourself falling behind on your mortgage payments.
NYTimes: Foreclosure Relief? Don’t Hold Your Breath
From The New York Times:
FAIR GAME: Foreclosure Relief? Don't Hold Your Breath
A new Washington program, intended to help homeowners caught in the mortgage mess, has many moving parts. And foreclosure experts are seeing many flaws.
Saturday, December 24, 2011
Article: Ahead of the Bell: New Home Sales - CBS 3 Springfield - WSHM
Ahead of the Bell: New Home Sales - CBS 3 Springfield - WSHM
http://www.cbs3springfield.com/story/16383590/ahead-of-the-bell-new-home-sales
Friday, December 23, 2011
Article: A guide to mortgage refinancing as rates hit lows - National Business - MiamiHerald.com
A guide to mortgage refinancing as rates hit lows - National Business - MiamiHerald.com
http://www.miamiherald.com/2011/12/22/2557994/a-guide-to-mortgage-refinancing.html
Article: Sparks Tribune - Class status sought for robo signing lawsuit
Sparks Tribune - Class status sought for robo signing lawsuit
http://dailysparkstribune.com/view/full_story/16876746/article-Class-status-sought-for-robo-signing-lawsuit?instance=home_news_1st_left
Thursday, December 22, 2011
NYTimes: Correcting Data Error, Realtor Group Revises Existing-Home Sales Downward
From The New York Times:
Correcting Data Error, Realtor Group Revises Existing-Home Sales Downward
The National Association of Realtors said sales from 2007 to 2010 were about 14 percent lower than it previously reported.
NYTimes: Countrywide Will Settle a Bias Suit
From The New York Times:
Countrywide Will Settle a Bias Suit
The Justice Department said Bank of America had agreed to a record fair-lending settlement over allegations of discriminatory practices by a mortgage subsidiary.
NYTimes: Signs Point to Economy’s Rise, but Experts See a False Dawn
From The New York Times:
Signs Point to Economy's Rise, but Experts See a False Dawn
In recent weeks, a broad range of data have beaten analysts' expectations, but forecasters say the uptick is likely temporary and that growth will slow in the first half of 2012.
Wednesday, December 21, 2011
Article: 7 books for homebuyers and borrowers - WIS News 10 - Columbia, South Carolina |
7 books for homebuyers and borrowers - WIS News 10 - Columbia, South Carolina |
http://www.wistv.com/story/16360848/7-books-for-homebuyers-and-borrowers
Article: Rise in home construction suggests a turnaround - NBC29 WVIR Charlottesville, VA News, Sports and Weather
Rise in home construction suggests a turnaround - NBC29 WVIR Charlottesville, VA News, Sports and Weather
http://www.nbc29.com/story/16360236/us-housing-starts-surge-though-level-remains-low
Tuesday, December 20, 2011
NYTimes: An Inconvenient Truth
OP-ED COLUMNIST: An Inconvenient Truth
Fannie Mae and Freddie Mac didn't cause the mortgage crisis. Sorry, folks.
Monday, December 19, 2011
There Goes the Neighborhood
Across America, recession-fueled foreclosures and plummeting home values have left countless properties abandoned and vulnerable to looting.
http://www.cbsnews.com/8301-18560_162-57344513/there-goes-the-neighborhood/
Sunday, December 18, 2011
NYTimes: Helping Homeowners Dig Out
MORTGAGES: Helping Homeowners Dig Out
Some limits have been eased on a federal program to move people who owe more than their home is worth into less risky and lower-rate mortgages.
NYTimes: Slapped Wrists at WaMu
FAIR GAME: Slapped Wrists at WaMu
The $64.7 million settlement between federal regulators and Washington Mutual is another example of the minimalist punishment meted out to players in the credit boom and bust.
Friday, December 16, 2011
Article: Unemployment claims at lowest in 3 1/2 years
Unemployment claims at lowest in 3 1/2 years
http://digitalproducer.digitalmedianet.com/article/Unemployment-claims-at-lowest-in-3-1/2-years-1805006
Article: Mortgage Rates Fall To Record Lows - Project Economy News Story - WPBF West Palm Beach
Mortgage Rates Fall To Record Lows - Project Economy News Story - WPBF West Palm Beach
http://www.wpbf.com/money/30004643/detail.html
Thursday, December 15, 2011
Wednesday, December 14, 2011
Five years of home sales to be revised lower in 'meaningful' way
If you thought the U.S. housing market couldn't get much worse, think again.
Tuesday, December 13, 2011
Monday, December 12, 2011
Sunday, December 11, 2011
NYTimes: Loans for Multifamily Homes
Borrowers should be prepared to fill out a lot more paperwork, and the interest rate and down payment will most likely be higher.
Saturday, December 10, 2011
Friday, December 9, 2011
NYTimes: Settlement With Wachovia Points Up a Controversy
The Securities and Exchange Commission and the Justice Department reached a $148 million accord on bid-rigging charges against the bank, now part of Wells Fargo.
Thursday, December 8, 2011
Wednesday, December 7, 2011
Tuesday, December 6, 2011
Monday, December 5, 2011
Sunday, December 4, 2011
NYTimes: Higher Loan Limits, Again, for Pricey Markets
Under new guidelines, the F.H.A. would be able to back loans up to $729,750 in the nation's most expensive real estate markets, including New York.
NYTimes: Help With a Down Payment
The biggest barrier to buying a home these days is saving for the down payment, according to a recent survey published by Trulia.
Friday, December 2, 2011
NYTimes: Time to Accelerate the Housing Recovery
Many economists say the slow recovery in housing is inhibiting the nation's economic rebound and that new steps must be taken to help homeowners.
Thursday, December 1, 2011
NYTimes: Massachusetts Sues 5 Major Banks Over Foreclosure Practices
Massachusetts is suing five major banks, including Bank of America and JPMorgan Chase, over deceptive foreclosure practices.
NYTimes: Mr. Romney on Foreclosures
Standing idly by while the housing market crashes is a bad idea, for everyone.
Article: Home market being held back by wary first-timers
Home market being held back by wary first-timers
http://www.topix.com/personal-finance/mortgage/2011/11/home-market-being-held-back-by-wary-first-timers
(Sent from Flipboard)
Sent from my iPad
NYTimes: Foreclosure Crisis Isn't Even Halfway Over, Analysis Finds
At least 2.7 million mortgages loaned from 2004 through 2008 have ended in foreclosure, and another 4 million are at serious risk, according to the Center for Responsible Lending.
Wednesday, November 30, 2011
NYTimes: A New Shot at Mortgage Relief
The two-year-old Home Affordable Refinance Program would double in size to assist about 900,000 more homeowners.
Tuesday, November 29, 2011
Monday, November 28, 2011
Sunday, November 27, 2011
NYTimes: When a Co-Borrower Has Poor Credit
There are ways to raise a FICO score, but in some instances it may be necessary to hold off on a home purchase in order to clean up one applicant's credit report, or try to go it alone.
Saturday, November 26, 2011
Friday, November 25, 2011
Wednesday, November 23, 2011
Tuesday, November 22, 2011
NYTimes: Rising a Bit, Home Sales Stay Weak
Last-minute deal cancellations increased in October, but sales still beat analyst forecasts.
Monday, November 21, 2011
Sunday, November 20, 2011
Saturday, November 19, 2011
Friday, November 18, 2011
NYTimes: Some Hopeful Signs for Jobs and Home Construction
The number of new jobless claims fell below 400,000 in October, a seven-month low, while permits for new-home construction, including apartments, rose 11 percent.
Thursday, November 17, 2011
Wednesday, November 16, 2011
NYTimes: F.H.A. Audit Sees Possible Bailout Need
A report says a further decline in the housing market could drain reserves, but the Federal Housing Administration's head sees little cause for concern.
Middle-class areas shrink as income gap grows
The portion of American families living in middle-income neighborhoods has declined significantly since 1970, according to a new study,
More from NYTimes: http://www.nytimes.com/2011/11/16/us/middle-class-areas-shrink-as-income-gap-grows-report-finds.html
More from NYTimes: http://www.nytimes.com/2011/11/16/us/middle-class-areas-shrink-as-income-gap-grows-report-finds.html
Tuesday, November 15, 2011
Monday, November 14, 2011
NYTimes: What Percentage Lives in Poverty?
Improving Americans' standard of living across different income groups is a political difficulty underlying the debate about measures of poverty, an economist writes.
NYTimes: Banks Quietly Ramping Up Costs to Consumers
Facing a reaction from an angry public and heightened scrutiny from regulators, banks are turning to all sorts of fees that fly under the radar.
Sunday, November 13, 2011
NYTimes: It’s Not Just About the Millionaires
It really stinks, but the only way to fix the economy is to squeeze the middle class.
NYTimes: Whatever Happened to Discipline and Hard Work?
America's traditional, pro-wealth cultural vision is showing wear and tear, which may explain why criticisms made by Occupy Wall Street protesters have resonance.
Saturday, November 12, 2011
Friday, November 11, 2011
NYTimes: To Save Our Economy, Ditch Taiwan
President Obama should negotiate with China to write off American debt in exchange for an end to America's defense arrangement with Taiwan.
Thursday, November 10, 2011
Wednesday, November 9, 2011
NYTimes: More Churn in Job Market Is Hopeful Sign
The number of people leaving or receiving jobs picked up in September, the Labor Department reported, a sign that that the labor market may be regaining its health.
Tuesday, November 8, 2011
NYTimes: Can the Fed Stimulate Growth or Only Inflation?
With the risk of inflation as low as it's been in a half century, the Federal Reserve must do whatever it can to stimulate job growth, an economist writes.
NYTimes: High Bank Fees Give Wal-Mart a Money Aisle
Fed up with banks, many consumers now use Wal-Mart to cash their paychecks, pay bills or buy a prepaid debit card — all at significantly lower costs.
Sunday, November 6, 2011
NYTimes: To Fix Housing, See the Data
One expert's data-driven approach to the housing crisis makes it clear that mortgage modifications that reduce principal is the only thing that will work.
Saturday, November 5, 2011
Friday, November 4, 2011
NYTimes: Report Shows Gain in Jobs but Growth Still Sluggish
The unemployment rate dipped to 9 percent but the improvement, which was slightly less than what economists had expected, was seen as mediocre.
Thursday, November 3, 2011
NYTimes: Can Anyone Really Create Jobs?
The answer is no. And that goes for presidential candidates too.
NYTimes: Fed Lowers Its Forecast for Growth, but Takes No Steps
The Federal Reserve said it remained concerned about the United States economy over the next two years but announced no new stimulus measures or rate changes.
Wednesday, November 2, 2011
NYTimes: Allied Home Mortgage Is Sued Over Bad Loans
According to the lawsuit, nearly 32 percent of the 112,324 home loans originated by Allied from Jan. 1, 2001, to the end of 2010 have defaulted.
NYTimes: In Retreat, Bank of America Cancels Debit Card Fee
The decision came after three competitors said they were backing away from their plans to levy similar charges.
Tuesday, November 1, 2011
Monday, October 31, 2011
NYTimes: Ever More Homeless Families
Intensive federal effort is needed to help vulnerable families before the homelessness situation gets worse.
NYTimes: Did You Hear the One About the Bankers?
While the world watched the demise of Qaddafi, some unsettling news from Wall Street helped explain why all those protests are resonating.
Sunday, October 30, 2011
NYTimes: A Deal That Wouldn’t Sting
In a foreclosure settlement with the federal government, banks would pay relatively little, proving again that accountability has been mostly A.W.O.L. in the aftermath of the 2008 crisis.
Saturday, October 29, 2011
NYTimes: Handling High Closing Costs
Some lenders will offer borrowers a credit toward closing costs if they accept a mortgage interest rate higher than they would ordinarily qualify for.
NYTimes: Savings Rate Is Dropping, and Experts Are Puzzled
With the latest decline in savings, some are asking whether consumers are returning to their old spending habits, while others wonder if the new data is even true.
Friday, October 28, 2011
NYTimes: U.S. Economy Picks Up Pace, Averting a Stall
Gross domestic product grew at a 2.5 percent annual rate in the third quarter, an improvement but not enough to recover ground lost during the recession.
NYTimes: Economy Alters How Americans Are Moving
Uncertainty about home sales and jobs has kept millions of Americans in place, and upended a decades-long migration from the snowy North to the sunny South.
Thursday, October 27, 2011
NYTimes: Destroying Houses to Save Cities
Are banks helping or hurting a community by bulldozing foreclosed property?
Wednesday, October 26, 2011
NYTimes: Jobless Go Without, but Stay Hopeful, Poll Finds
A New York Times/CBS News poll found that despite enduring hardships and pessimism about the nation's economy, unemployed Americans remained optimistic about landing a job.
NYTimes: A Foolish Time to Cut Housing Aid
States and cities need more federal help to protect vulnerable citizens and curb homelessness. Congress should fully finance important housing programs.
NYTimes: Consumer Confidence Falls as Some Home Prices Rise
Home prices rose in August in half of the large cities measured by a private survey, a sign that prices are stabilizing in some hard-hit parts of the country.
Tuesday, October 25, 2011
NYTimes: In Cautious Times, Banks Flooded With Cash
With fewer attractive lending and investment options, it is harder for banks to make a healthy profit from the enormous amount in deposits.
Monday, October 24, 2011
NYTimes: Administration Proposes Changes to Mortgage Refinancing Program
The overhaul, which will still take months to implement, will let people qualify for new loans no matter how far the value of their homes have declined, and without regard to their financial situations.
Sunday, October 23, 2011
How Mr. Volcker would fix it
The real treasures were found in his to-do list for further reforms.
More from NYT: http://www.nytimes.com/2011/10/23/business/volckers-advice-for-more-financial-reform.html
More from NYT: http://www.nytimes.com/2011/10/23/business/volckers-advice-for-more-financial-reform.html
Saturday, October 22, 2011
Friday, October 21, 2011
NYTimes: Knowing When to Refinance
Mortgage experts warn against rushing into a refinancing — or jumping at the first advertised low rate.
Thursday, October 20, 2011
NYTimes: Rush to Drill for Natural Gas Creates Conflicts With Mortgages
Worried about property values, and landowners signing drilling leases without clearance, lenders are trying to reinforce restrictions.
NYTimes: Food and Gasoline Helped Push the Consumer Price Index Higher in September
The rising cost of gasoline helped push up the price index, but the pressure is expected to ease in the months ahead.
NYTimes: Citigroup to Pay Millions to Close Fraud Complaint
The company agreed to settle a complaint by the S.E.C. that it had defrauded buyers in a $1 billion portfolio of mortgage-related investments.
Wednesday, October 19, 2011
NYTimes: Are Employers Requiring People to Work Longer Hours?
With fewer people working and those employed working fewer hours, it's not surprising at all that the nation's total hours worked dropped significantly, an economist writes.
NYTimes: Gloom Grips Consumers, and It May Be Home Prices
The United States has a confidence problem, and a growing number of economists argue that the collapse of housing prices plays a major role.
Tuesday, October 18, 2011
NYTimes: Trying to Lift the Gloom Over Housing
Readers respond to a recent Op-Ed about the decline in housing prices and how it can be stopped.
Monday, October 17, 2011
NYTimes: Banks Start to Make More Loans
Lending numbers suggest that while the economy remains fragile, the confidence of consumers and businesses may be more resilient than experts had believed.
Sunday, October 16, 2011
NYTimes: After a Rejection
Some borrowers succeed on the second or third attempt, after they have saved for a larger down payment, improved their credit and switched to another lender.
NYTimes: Making the Most of Our Financial Winter
Just as farmers work on their barns and fences during the coldest months, the nation could work on its infrastructure by building upon key parts of President Obama's jobs bill.
NYTimes: Fannie and Freddie, Still the Socialites
Although Fannie Mae and Freddie Mac were bailed out by taxpayers to the tune of about $150 billion, they still sent an army to an industry shindig.
NYTimes: Online Banking Keeps Customers on Hook for Fees
Customers frustrated by banks' controversial new fees are finding out that it is not so easy to disentangle your life from your bank.
Saturday, October 15, 2011
NYTimes: Financial Planner’s Red Flags
The country's largest employer of certified financial planners is accused of putting its own employees' 401(k) money into underperforming funds.
NYTimes: Foreclosures Empty Homes, and Criminals Fill Them Up
The police say that boarded-up homes in parts of Queens are being taken over by addicts, dealers, prostitutes, gang members and thieves.
Friday, October 14, 2011
NYTimes: Consumers’ Right to Sue
In CompuCredit v. Greenwood, the Supreme Court should rule that a statute explicitly creating a right to sue trumps a contract allowing only arbitration.
NYTimes: Bank Rules That Serve Two Masters
A Congress that wants to have it both ways is creating a muddle of the regulations under the Dodd-Frank Act.
Thursday, October 13, 2011
NYTimes: How to Stop the Drop in Home Values
The only real solution to plummeting home values is to permanently reduce the mortgage debt hanging over America.
NYTimes: Whose Jobs Are at Risk in Free Trade
A report from the Joint Economic Committee of Congress finds that the American workers most likely to be hurt by free-trade agreements are also those likeliest to have a hard time finding new jobs.
Wednesday, October 12, 2011
NYTimes: Online Game Challenges You to Live On $1,000 A Month
An online game called Spent lets you see what it's like to live on $1,000 a month.
NYTimes: Fed Oversight of Nonbank Financial Companies Is Weighed
The Financial Stability Oversight Council voted to seek public comment on a proposed rule that laid out the standards by which some financial companies could fall under stricter regulation.
Tuesday, October 11, 2011
NYTimes: Your Economic Outlook: Mixed Up
On the whole, contributors to an interactive project about the economic outlook seemed slightly more hopeful about their own prospects than about the overall economy.
Sunday, October 9, 2011
Saturday, October 8, 2011
NYTimes: Triggers for Rejection
The Mortgage Bankers Association estimates that about half of those who try to refinance and 30 percent of home buyers are either denied or drop out of the application process.
NYTimes: Charging for Debit Cards Is Robbery
Banks that charge customers to use debit cards are trying to rationalize one of the largest illegal transfers of wealth from consumers to banks in American history.
NYTimes: Checking Account Wars, Behind the Scenes
As the battle is joined over fees, the big banks want to make you pay, and the most aggressive of the little institutions want to pay you.
Friday, October 7, 2011
Thursday, October 6, 2011
NYTimes: Freddie and Fannie Reject Debt Relief
Loans are not eligible for debt reduction if they were bought and held or securitized by the two companies, which guarantee more than 70 percent of the country's home loans.
Wednesday, October 5, 2011
NYTimes: The Downside to a Debt Jubilee
Why writing off debts may not necessarily increase economic growth; and why investors should be on the lookout for Apple's new creative/destructive impacts.
Tuesday, October 4, 2011
NYTimes: Fannie Mae Knew Early of Abuses, Report Says
Fannie Mae, the mortgage finance giant, learned as early as 2003 of extensive foreclosure abuses, but did little to correct the practices, according to a new report.
Monday, October 3, 2011
The Washington Post: Bank of America shares fall below $6, first time since ‘09
Bank of America shares fall below $6, first time since '09
http://wapo.st/noDi2M
NYTimes: Foreclosures Are Killing Us
The mortgage crisis is not just a metaphorical epidemic, but a bona fide public health issue.
NYTimes: Bank of America Site Working Again
A spokeswoman said there was no connection to the bank's announcement about debit card fees.
Sunday, October 2, 2011
NYTimes: Expenses, Lender Games and Illness Added Up
After Wanda Carter bought her first home on her own, she ran into unexpected repair needs, lender manipulation and her husband's terminal illness. Now she is one more Chicago foreclosure statistic.
NYTimes: Determining a Home’s Value
Homeowners can pay for an appraisal before approaching a lender, but a less costly option is to check the "comps" — recent sales of comparable homes nearby.
NYTimes: The Bank Case That Refuses to Die
A judge ruled that the government should pay $205 million in damages for Carteret Savings Bank's failure. But the Justice Department won't let the case go.
NYTimes: Profits, but No Joy, for Merrill
Merrill Lynch was a weight when it first collapsed into the arms of Bank of America in 2008. Now the tables have turned.
Saturday, October 1, 2011
NYTimes: A Rising Fear of an Extended Downturn
Half of those polled by the Conference Board say it is "hard to get" a job. That very pessimism may be hindering the recovery.
NYTimes: Question: Why Pay Bank Fees?
Moves by Bank of America and other banks to charge users a monthly fee are not surprising. But their customers don't have to take it lying down.
Friday, September 30, 2011
NYTimes: Banks to Make Customers Pay Fee for Using Debit Cards
Banks are imposing new charges on their customers to make up for the revenue they expect to lose because of a cap on what they can charge merchants for debit-card transactions.
Thursday, September 29, 2011
NYTimes: U.S. Mortgage-Aid Program Is Shutting Down, With Up to $500 Million Unspent
Congress set aside $1 billion for the Emergency Homeowners' Loan Program, but it might ultimately help only half the number of households it was expected to serve.
Wednesday, September 28, 2011
NYTimes: A $50 Billion Claim of Havoc Looms for Bank of America
A lawsuit by Bank of America shareholders is proceeding that claims the bank and its executives failed to disclose a $15.3 billion loss at Merrill Lynch before its acquisition.
Tuesday, September 27, 2011
NYTimes: Your Unreasonable Financial Expectations
If disappointment is an inevitable result of reality not living up to your financial expectations, doesn't that mean you should rethink them?
NYTimes: Freddie Mac Loan Deal Defective, Report Says
As a result of faulty methodology, the probable losses by Freddie Mac on mortgage loans it bought from Bank of America have increased significantly.
Monday, September 26, 2011
Sunday, September 25, 2011
NYTimes: Vetting the Lender
Industry experts suggest that borrowers focus more on the individual who would be their mortgage broker, loan officer or loan originator.
Saturday, September 24, 2011
NYTimes: A Tryout Program for the Unemployed
A tryout initiative with marginal success has leaders in Washington thinking it should be expanded nationally to help put people back to work.
Friday, September 23, 2011
Thursday, September 22, 2011
Wednesday, September 21, 2011
NYTimes: Home Building Sags Again
August housing starts fell 5 percent from July, the Commerce Department said, to a level that is less than half of what economists say is consistent with healthy housing markets.
Tuesday, September 20, 2011
Monday, September 19, 2011
NYTimes: As Consumers Tighten Belts, Advertisers Adjust
Ad spending has risen by 5 percent for the first half of 2011, and car insurance, bank services and financial investment have had the biggest increases, according to Nielsen.
Sunday, September 18, 2011
$54 Billion Closer to Our Next Financial Crisis
http://www.blackstonevalleytribune.com/publicationreturnframe.lasso?-token.address=http%3a%2f%2fus.rd.yahoo.com%2fdailynews%2frss%2fus%2f*http%3a%2f%2fus.rd.yahoo.com%2fdailynews%2fexternal%2ftime_rss%2frss_time_us%2fhttpmoneylandtimecom2011091454billionclosertoournextfinancialcrisisixzz1xvgvbgbsxidrssnationyahoo%2f42923847%2fSIG%3d12ma3hr0d%2f*http%3a%2f%2fmoneyland.time.com%2f2011%2f09%2f14%2f54-billion-closer-to-our-next-financial-crisis%2f%23ixzz1XvgvBgBs%3fxid%3drss-nation-yahoo
NYTimes: Saving on Mortgage Taxes
Homeowners looking to refinance could save thousands of dollars in mortgage taxes by having the loan transferred to the new lender, a process known as a mortgage assignment.
NYTimes: Cautionary Lessons From Michigan
In a new book, Jennifer M. Granholm, the ex-governor of a state where the downturn hit first and hardest, argues that laissez-faire and austerity do not work.
Saturday, September 17, 2011
NYTimes: Decoding the Wide Variations in House Appraisals
Appraisals seem just as subjective now as when the market was moving up. Why is the process so opaque? I set out to try to figure that out.
NYTimes: Household Net Worth Falls 0.3% in Quarter
While American's wealth declined this spring for the first time in a year, corporate cash rose 4.5 percent, according to a Federal Reserve report.
NYTimes: Spotlighting 401(k) Plans, Thanklessly
BrightScope, run by two brothers out of a crowded office in San Diego, is trying to turn its data mining and 401(k) plan rankings into a lasting business.
Friday, September 16, 2011
Thursday, September 15, 2011
NYTimes: Tackling Reams of Bank Data Can Take Diligence, and Trust
Even if analysts could somehow reconcile all the numbers gushing from the nation's banks each quarter, they would still be significantly in the dark.
Wednesday, September 14, 2011
NYTimes: Debt Panel Opens With Bleak Economic Picture
The director of the Congressional Budget Office told the committee that while the federal debt could bring on a crisis, action could hurt an economic recovery.
NYTimes: Tax Plan for Jobs Bill Has Familiar Ring
Some proposals for taxes to pay for the jobs bill may sound familiar to Americans, like higher taxes on the rich and an end to some tax breaks like the one on corporate jets.
NYTimes: Bigger Economic Role for Washington
Just weeks ago, economists and financial analysts were dismissing Washington as largely irrelevant to the economy's course in coming months, but they are not anymore.
Tuesday, September 13, 2011
NYTimes: Bank of America Confirms Plan to Cut 30,000 Positions
About 30,000 jobs will be eliminated over the next few years as part of $5 billion in cuts planned by the chief executive, Brian T. Moynihan.
NYTimes: Outsiders' Ideas Help Bank of America Trim Jobs and Costs
Bank of America relied on a team of consultants to come up with plans to eliminate 30,000 jobs and cut annual costs by $5 billion.
NYTimes: Kentucky: Bridge Closure Prompts Concerns
Officials from Kentucky and Indiana are reassuring commuters that two remaining Ohio River bridges in Louisville are safe as the shutdown of a third span has left drivers in a tangle of detours and traffic.
NYTimes: U.S. Spending Billions on Rural Jobs, but Impact Is Uncertain
The Obama administration is investing billions of dollars to promote economic development in rural areas, but critics say the effort is producing little.
Monday, September 12, 2011
Sunday, September 11, 2011
NYTimes: When it Comes to Fixing the Roof, Look Before You Leap
Assessing the health of your roof requires a discerning eye, but it pays enormous dividends.
NYTimes: When Real Estate Agents Make Referrals
Borrowers have a right to be informed of any business relationship between the real estate agent and the mortgage broker.
THE 9/11 DECADE: The Lexicon
From The New York Times:
Ground zero, sleeper cells, progressive vertical collapse: The most resonant phrases of 9/11 are imbued with what might be called antipoetry, a resistance to prettification.
Friday, September 9, 2011
NYTimes: Fannie and Freddie Near Settlement With Regulators
A proposed agreement with the S.E.C. would end an investigation over whether Fannie Mae and Freddie Mac adequately disclosed their exposure to risky subprime loans.
Thursday, September 8, 2011
NYTimes: Rising Fears of Recession
If history is a guide, the odds that the American economy is falling into a double-dip recession may have reached 50 percent.
Wednesday, September 7, 2011
Tuesday, September 6, 2011
NYTimes: Shake-Up at Bank of America
The bank named co-chief operating officers and announced the departure of two finance veterans, including Sallie Krawcheck.
NYTimes: In Jobs Data, "Surprises" Mean Bad News
Over the past ten years, there have been 89 jobs forecasts that were too optimistic, versus just 51 that were too pessimistic.
Monday, September 5, 2011
Foreclosures: America's most abiding problem
Solutions to Foreclosure Contagion - Page 1
http://abcnews.go.com/Business/solutions-foreclosure-contagion/t/story?id=14435765
NYTimes: One Path to Better Jobs: More Density in Cities
Building more housing in cities will make them more dense, but everyone will benefit.
Sunday, September 4, 2011
NYTimes: Watching That Home From Afar
From The New York Times:
HOME TECH: Watching That Home From Afar
Devices that might ease the mind of those who own second homes.
NYTimes: The Limping Middle Class
When so much income goes to the top, the middle class doesn't have enough purchasing power to keep the economy going without sinking ever more deeply into debt.
Saturday, September 3, 2011
NYTimes: For the Recently Widowed, Some Big Financial Pitfalls to Avoid
From The New York Times:
YOUR MONEY: For the Recently Widowed, Some Big Financial Pitfalls to Avoid
A spouse dies, and the widow must handle a variety of financial tasks, like investing and paying taxes, when her emotions are raw.
NYTimes: Nearly Out of Tricks, Fed May Pare Longer Rates
From The New York Times:
The dispiriting employment report again turned eyes toward the Fed. But it was unclear if the economy's problems were amenable to further monetary salves.
NYTimes: Federal Regulators Sue Big Banks Over Mortgages
From The New York Times:
The action is part of a growing attempt to force banks to pay billions of dollars for helping stoke the housing bubble.
Friday, September 2, 2011
Article: Foreclosures Equal 31% of Home Sales in 2Q :: EDGE Fire Island
Foreclosures Equal 31% of Home Sales in 2Q :: EDGE Fire Island
http://www.facebook.com/plugins/comments.php?api_key=106328606080555&channel_url=http%3A%2F%2Fstatic.ak.fbcdn.net%2Fconnect%2Fxd_proxy.php%3Fversion%3D3%23cb%3Df3e5a7158c%26origin%3Dhttp%253A%252F%252Fwww.edgefireisland.com%252Ff238b148e4%26relation%3Dparent.parent%26transport%3Dpostmessage&href=http%3A%2F%2Fwww.edgefireisland.com%2Findex.php%3Fch%3Dstyle%26sc%3D%26sc2%3Dnews%26ct%3D%26id%3D123916&locale=en_US&numposts=2&sdk=joey&width=590
Thursday, September 1, 2011
NYTimes: U.S. Is Set to Sue a Dozen Big Banks Over Mortgages
The federal agency that oversees Fannie Mae and Freddie Mac is expected to sue Bank of America, Goldman Sachs and others, accusing them of failures in vetting mortgages during the housing bubble.
NYTimes: Buffett Investment Could Erode Confidence in Big Banks
Warren E. Buffett's investment in Bank of America reveals something both infuriating and scary: the bank has not been talking straight about its need for capital.
Wednesday, August 31, 2011
Mortgage applications drop 9.6% as refinancing surge dies down
The number of mortgage applications filed by Americans fell 9.6% this past week after experiencing a dramatic surge in volume on low interest rates and refinancing activity.
More: http://bit.ly/r6zMJ7
The number of mortgage applications filed by Americans fell 9.6% this past week after experiencing a dramatic surge in volume on low interest rates and refinancing activity.
More: http://bit.ly/r6zMJ7
NYTimes: Nevada Says Bank Broke Mortgage Settlement
Nevada's attorney general wants to end a broad mortgage agreement it struck with Bank of gAmerica in 2008.
Tuesday, August 30, 2011
NYTimes: Divisions at Fed Resulted in Compromise on Interest Rates
Debate over aid for the sluggish economy ended with the current low-interest-rate commitment, according to minutes from Aug. 9.
Monday, August 29, 2011
More part-time workers stop looking for full-time work
Unemployment remains a huge concern, but the underemployment problem isn't as bad as it used to be. Fewer part-time workers are looking for full-time work -- because they don't mind working part-time after all.
To read the full article, click on this link or copy and paste it into your browser: http://www.chicagotribune.com/chi-more-parttime-workers-stop-looking-for-fulltime-work-20110829,0,3856137.story
Sent from my iPad
NYTimes: Shake-Up in Mortgage Investigation
From The New York Times:
Shake-Up in Mortgage Investigation
Eric T. Schneiderman, the New York attorney general, has voiced concerns over a proposed settlement over claims of foreclosure abuses.
Sent from my iPad
NYTimes: When Income Is Freelance
If you earn most of your income on 1099s, brace yourself for extra preparation, paperwork and discussion of your financial picture when applying for a mortgage.
Sent from my iPad
NYTimes: Profits Falling, Banks Confront a Leaner Future
From The New York Times:
Profits Falling, Banks Confront a Leaner Future
As government lifelines fade and a second recession seems increasingly possible, banks are finding their growth constrained, even as they add new costs for consumers.
Sent from my iPad
Sunday, August 28, 2011
Article: CREDO Backs Up Schneiderman in Foreclosure Fraud Fight | FDL News Desk
CREDO Backs Up Schneiderman in Foreclosure Fraud Fight | FDL News Desk
http://news.firedoglake.com/2011/08/26/credo-backs-up-schneiderman-in-foreclosure-fraud-fight/
(Sent from Flipboard)
Sent from my iPad
NYTimes: Did We Drop the Ball on Unemployment?
From The New York Times:
OP-ED COLUMNIST: Did We Drop the Ball on Unemployment?
In small-town Oregon, it's easy to spot the country's most pressing problem.
Sent from my iPad
Saturday, August 27, 2011
Article: Homeowners Due Cash After Foreclosures « CBS Chicago
Homeowners Due Cash After Foreclosures « CBS Chicago
http://www.facebook.com/extern/login_status.php?api_key=53c18cbd2d90223a4dbccffb88164765&extern=0&channel=http%3A%2F%2Fchicago.cbslocal.com%2Fwp-content%2Fthemes%2Fvip%2Fplugins%2Ffaux-facebook-connect%2Fxd_receiver.php&locale=en_US
(Sent from Flipboard)
Sent from my iPad
Article: Foreclosures A Third Of Sales; Mortgage Rates Rise : NPR
Foreclosures A Third Of Sales; Mortgage Rates Rise : NPR
http://www.npr.org/2011/08/25/139941458/foreclosures-a-third-of-sales-mortgage-rates-rise
(Sent from Flipboard)
Sent from my iPad
Article: Two Bettendorf Men Sentenced in Mortgage Fraud Scheme | KCRG-TV9 | Cedar Rapids, Iowa News, Sports, and Weather | Crime
Two Bettendorf Men Sentenced in Mortgage Fraud Scheme | KCRG-TV9 | Cedar Rapids, Iowa News, Sports, and Weather | Crime
http://www.kcrg.com/news/crime/Two-Bettendorf-Men-Sentenced-in-Mortgage-Fraud-Scheme--128451833.html
(Sent from Flipboard)
Sent from my iPad
Article: Flood Insurance Can be Full of Surprises | The Daily Tarrytown
Flood Insurance Can be Full of Surprises | The Daily Tarrytown
http://www.facebook.com/plugins/like.php?channel_url=http%3A%2F%2Fstatic.ak.fbcdn.net%2Fconnect%2Fxd_proxy.php%3Fversion%3D3%23cb%3Df2792abb54%26origin%3Dhttp%253A%252F%252Fwww.thedailytarrytown.com%252Ffd83afa38%26relation%3Dparent.parent%26transport%3Dpostmessage&href=http%3A%2F%2Fwww.thedailytarrytown.com%2Fnews%2Fflood-insurance-can-be-full-surprises&layout=button_count&locale=en_US&node_type=link&sdk=joey&send=true&show_faces=false&width=150
(Sent from Flipboard)
Sent from my iPad
Friday, August 26, 2011
NYTimes: A Lifeline for Homeowners
The White House should embrace a mortgage refinancing plan for millions of underwater homeowners, regardless the inevitable opposition to it.
NYTimes: Alert Extends Up the East Coast as Hurricane Irene Closes In
From The New York Times:
Alert Extends Up the East Coast as Hurricane Irene Closes In
The hurricane warning that was put into effect in North Carolina on Thursday was extended up through New Jersey on Friday, and New York and much of the Northeast were placed under hurricane watches.
Sent from my iPad
Thursday, August 25, 2011
NYTimes: U.S. May Back Refinance Plan for Mortgages
The Obama administration is considering a program to let millions of homeowners refinance at today's rates.
Wednesday, August 24, 2011
Article: More Americans at Risk of Foreclosure :: EDGE Los Angeles
More Americans at Risk of Foreclosure :: EDGE Los Angeles
http://www.edgelosangeles.com/index.php?ch=style&sc=&sc2=news&sc3=&id=123690
(Sent from Flipboard)
Sent from my iPad
NYTimes: Shake-Up in Mortgage Investigation
From The New York Times:
Shake-Up in Mortgage Investigation
Eric T. Schneiderman, the New York attorney general, has voiced concerns over a proposed settlement over claims of foreclosure abuses.
Sent from my iPad
NYTimes: Fewer Banks In the U.S. Considered To Be at Risk
From The New York Times:
Fewer Banks In the U.S. Considered To Be at Risk
Twenty-three lenders fell off the government's list of so-called problem banks in the second quarter, bringing the total to 865.
Sent from my iPad
Tuesday, August 23, 2011
NYTimes: It’s a Flawed Settlement
From The New York Times:
EDITORIAL: It's a Flawed Settlement
New York's attorney general, Eric Schneiderman, is right to resist White House pressure on a mortgage deal with the nation's largest banks over dubious foreclosure practices.
Sent from my iPad
Monday, August 22, 2011
Article: One family's harrowing foreclosure experience | The Morning Sentinel, Waterville, ME
http://www.facebook.com/extern/login_status.php?api_key=93a777ade3e0ecb0cede260aab735a5d&app_id=93a777ade3e0ecb0cede260aab735a5d&channel_url=http%3A%2F%2Fstatic.ak.fbcdn.net%2Fconnect%2Fxd_proxy.php%3Fversion%3D3%23cb%3Df242567968%26origin%3Dhttp%253A%252F%252Fwww.onlinesentinel.com%252Ff127bef5f8%26relation%3Dparent.parent%26transport%3Dpostmessage&display=hidden&extern=2&locale=en_US&next=http%3A%2F%2Fstatic.ak.fbcdn.net%2Fconnect%2Fxd_proxy.php%3Fversion%3D3%23cb%3Df1ac1614b8%26origin%3Dhttp%253A%252F%252Fwww.onlinesentinel.com%252Ff127bef5f8%26relation%3Dparent%26transport%3Dpostmessage%26frame%3Dfcfc635c4%26result%3D%2522xxRESULTTOKENxx%2522&no_session=http%3A%2F%2Fstatic.ak.fbcdn.net%2Fconnect%2Fxd_proxy.php%3Fversion%3D3%23cb%3Dfdf58139%26origin%3Dhttp%253A%252F%252Fwww.onlinesentinel.com%252Ff127bef5f8%26relation%3Dparent%26transport%3Dpostmessage%26frame%3Dfcfc635c4&no_user=http%3A%2F%2Fstatic.ak.fbcdn.net%2Fconnect%2Fxd_proxy.php%3Fversion%3D3%23cb%3Df39c7c36b4%26origin%3Dhttp%253A%252F%252Fwww.onlinesentinel.com%252Ff127bef5f8%26relation%3Dparent%26transport%3Dpostmessage%26frame%3Dfcfc635c4&ok_session=http%3A%2F%2Fstatic.ak.fbcdn.net%2Fconnect%2Fxd_proxy.php%3Fversion%3D3%23cb%3Df35c1f2a8c%26origin%3Dhttp%253A%252F%252Fwww.onlinesentinel.com%252Ff127bef5f8%26relation%3Dparent%26transport%3Dpostmessage%26frame%3Dfcfc635c4&sdk=joey&session_origin=1&session_version=3
(Sent from Flipboard)
Sent from my iPad
Article: Home Sales On Pace to Be Worst in Fourteen Years :: EDGE Providence
Home Sales On Pace to Be Worst in Fourteen Years :: EDGE Providence
http://www.edgeprovidence.com/index.php?ch=style&sc=&sc2=news&sc3=&id=123580
(Sent from Flipboard)
Sent from my iPad
Sunday, August 21, 2011
NYTimes: Exploring the 15-Year Loan
From The New York Times:
MORTGAGES: Exploring the 15-Year Loan
One advantage of refinancing with a 15-year mortgage is that a borrower builds up equity in a home faster. But the monthly payments will very likely be higher.
Sent from my iPad
Saturday, August 20, 2011
Article: FHA Mortgage Rates Hit All Time Lows As Home Sales Increase | FHA Mortgage
FHA Mortgage Rates Hit All Time Lows As Home Sales Increase | FHA Mortgage
http://fhamortgagemag.com/2011/08/fha-mortgage-rates-hit-all-time-lows-as-home-sales-increase/
(Sent from Flipboard)
Sent from my iPad
Article: Would-be homebuyers 'pessimistic' (From Andover Advertiser)
Would-be homebuyers 'pessimistic' (From Andover Advertiser)
http://www.andoveradvertiser.co.uk/uk_national_news/9207168.Would_be_homebuyers__pessimistic_/?ref=rss
(Sent from Flipboard)
Sent from my iPad
Article: Lawyers Accused of Scam in Bank Suits :: EDGE Dallas
Lawyers Accused of Scam in Bank Suits :: EDGE Dallas
http://www.edgedallas.com/index.php?ch=business_finance&sc=&sc2=news&sc3=&id=123568
(Sent from Flipboard)
Sent from my iPad
Friday, August 19, 2011
NYTimes: Mortgage Rates Hit 50-Year Low
From The New York Times:
BUCKS BLOG: Mortgage Rates Hit 50-Year Low
The 30-year fixed-rate mortgage reached a 50-year low this week of 4.15 percent, before points.
Sent from my iPad
NYTimes: A Second Great Depression, or Worse?
From The New York Times:
ECONOMIX BLOG: A Second Great Depression, or Worse?
The 19th century, with technological change remaking the economy, had long, traumatic slumps, and the reaction is echoed in electoral politics today, an economist writes.
Sent from my iPad
NYTimes: Bank of America Plans Big Layoffs to Cut Costs
From The New York Times:
Bank of America Plans Big Layoffs to Cut Costs
With its stock down more than 50 percent since January, Bank of America is set to eliminate at least 3,500 jobs in the coming months to cut quarterly costs by $1.5 billion.
Sent from my iPad
Thursday, August 18, 2011
Article: Busted Recovery: How Much is Housing to Blame? - The Curious Capitalist - TIME.com
NYTimes: U.S. Inquiry Eyes S.&P. Ratings of Mortgages
From The New York Times:
U.S. Inquiry Eyes S.&P. Ratings of Mortgages
The Justice Department is investigating whether Standard & Poor's rated mortgage securities improperly leading up to the financial crisis.
Sent from my iPad
Tuesday, August 16, 2011
Article: U.S. economy has young Americans downsizing their dreams - KCPQ
U.S. economy has young Americans downsizing their dreams - KCPQ
http://www.q13fox.com/news/nationworld/la-fi-youth-debt-20110814,0,2040858.story
(Sent from Flipboard)
Sent from my iPad
Article: Why Do People Actually Buy A Home? | The Daily Port Chester
Why Do People Actually Buy A Home? | The Daily Port Chester
http://www.thedailyportchester.com/real-estate/why-do-people-actually-buy-home
(Sent from Flipboard)
Sent from my iPad
Article: Household debt falls slightly - chicagotribune.com
Household debt falls slightly - chicagotribune.com
http://www.chicagotribune.com/business/breaking/chi-household-debt-falls-slightly-20110815,0,6634111.story
(Sent from Flipboard)
Sent from my iPad
Subscribe to:
Posts (Atom)