NYC Bulk REO Packages Now Available One of the Top 5 Banks in US. Buyer Mandates Only - No Intermediaries! NYC - 5 Boroughs, 50 3, $500M packages, 0 to lite rehab, SFH. Cannot assign, must take down. Must 1st provide: Soft Proof of Funds LOI Fax both to 718-879-6468 Orders Filled within 24 Hours. Custom REO packages are available through out the USA by [...]
As we continue to analyze and manage our product set, Chase has made the decision to discontinue offering our Subprime and Home Equity products through our Wholesale channel. New Wholesale Subprime and Home Equity registrations will not be accepted after Friday, May 16, 2008. No Tags
New foreclosure filings rose 4% in April and were nearly 65% higher than the level recorded a year earlier, according to RealtyTrac. The company’s U.S. Foreclosure Market Report indicates that foreclosure filings, default notices, auction sale notices, and bank repossessions were reported on 243,353 properties in April. "The total number of U.S. properties with foreclosure activity in [...]
President Bollinger, Dean Hubbard, Co-Chairman Kravis, and distinguished guests, I am very pleased to be here and especially honored to receive the Columbia Business School’s Distinguished Leadership in Government Award. This evening I would like to offer a few thoughts on mortgage markets and the recent increase in the pace of delinquencies and foreclosures. My [...]
Exclusive: Fed Votes to Cut Rate a Quarter-Point to 2% The Federal Reserve is Cutting Rates Another 25bp; Fed Says “Substantial” Easing to Date Should Promote Growth, Financial Markets Remain Under “Considerable Stress”; Vote 8-2, With Plosser and Fisher Dissenting; Uncertainity About Inflation “Remains High” and Economic Activity “Remains Weak” No Tags
Critics are blaming Alan Greenspan for today’s financial crisis, but now the former Federal Reserve chief is fighting back. Greenspan sets the record straight in an exclusive interview. Part 1 Part 2 What are others saying about Alan Greenspan Alan Greenspan unfair blame for sub prime crisis… Why do people blame Alan Greenspan for the sub-prime crisis? He lead [...]
A few ideas on how to fix the problem, with Robert Shiller, Yale School economics professor No Tags
Sales of new homes plunged last month to the lowest level in 16 and a half years. No Tags
It is not just Bank of America that is reeling from subprime problems, the largest banks in the world have posted $290 billion of credit losses, since the beginning of 2007. No Tags
Bordering On Insanity No Tags
U.S. home prices rose approximately 0.6 percent on a seasonally adjusted basis between January and February, according to OFHEO’s new monthly House Price Index. For the 12 months ending in February, U.S. prices fell 2.4 percent. Since its peak in April 2007, the index is down 3.1 percent. The OFHEO monthly index is calculated using [...]
Bank of America Net Drops 77% Bank Of America, Credit Deterioration, Lenders With Problems 2007, Mortgage Defaults, Mortgage Delinquencies, Mortgage Implosion, mortgage news, Mortgage Video, Writedowns
NEW YORK, April 15, 2008 (PRIME NEWSWIRE) — Beleaguered investors of Washington Mutual (NYSE:WM) were delivered more bad news by the company in Tuesday’s after-hours earnings announcement. The company reported a first-quarter loss of $1.14 billion and indicated that it expects Writedowns of $12 billion to $19 billion of its $187 billion portfolio of single [...]
Bear Stearns reaped a profit of $115 million or 86¢ a share before the JP Morgan takeover. Bear Stearns, Lenders With Problems 2007, mortgage news, Mortgage Video
WASHINGTON, DC — James B. Lockhart, Director of the Office of Federal Housing Enterprise Oversight (OFHEO) today released OFHEO’s 2008 Report to Congress, detailing the agency’s annual examination conclusions and regulatory oversight of the Government Sponsored Enterprise (GSE), Fannie Mae and Freddie Mac, for the year 2007. The report concludes that both Enterprises made very good [...]
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