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.
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