- Paul Kiesel | August 29, 2008 6:36 PM |
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MiscellaneousAccording to Guy Cecala, the publisher of Inside Mortgage Finance, who was interviewed for a Forbes article examining the failures of the FHASecure program, "FHASecure was a PR-driven program...
- Paul Kiesel | August 28, 2008 8:25 PM |
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MiscellaneousThe Hope Now coalition released information yesterday that finds prime foreclosure starts have finally moved ahead of subprime foreclosure starts for the first time since the industry coalition...
- Paul Kiesel | August 28, 2008 7:57 PM |
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MiscellaneousI usually discuss recent news and developments surrounding the U.S. housing/mortgage crisis. However, after I came across this story in the Los Angeles Times, I couldn't help but relay this story to...
- Paul Kiesel | August 27, 2008 8:35 PM |
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MiscellaneousAs Joe Biden said last year during the Democratic presidential primary debates, and will likely reiterate tonight in Denver, the main source for our current credit crisis lies in mysterious lending...
- Paul Kiesel | August 27, 2008 3:05 PM |
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MiscellaneousDuring a Democratic primary debate, in August, 2007, Joe Biden saw what many others didn't see or realize until months later: The credit crunch was running so deep -- it could effect several sectors...
- Paul Kiesel | August 26, 2008 7:55 PM |
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MiscellaneousTonight's focus and theme at the Democratic Convention shifts to Hillary's anticipated speech and the economy. Hillary's speech is what many will be tuning in to watch or listen to; the several...
- Paul Kiesel | August 26, 2008 5:34 PM |
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MiscellaneousThe housing market continues to struggle, the economy is still sputtering, another wave of foreclosures will start at the end of this year and, overall, the Case-Shiller index (and it's 10-city...
- Paul Kiesel | August 26, 2008 12:07 AM |
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MiscellaneousAn FBI official, back in September, 2004, three years before the first wave of foreclosures hit the housing market, made a then chilling and portent observation: The booming mortgage business,...
- Paul Kiesel | August 25, 2008 2:40 PM |
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MiscellaneousThe Los Angeles Times reported Sunday that real estate evaluations are still being inflated, despite federal housing legislation that was signed last month tightening appraisal standards that comply...
- Paul Kiesel | August 22, 2008 9:15 PM |
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MiscellaneousNew York senator Charles Schumer will not be investigated for comments made about IndyMac Bancorp days before its collapse. California Attorney General Jerry Brown, on Thursday, sent a...
- Paul Kiesel | August 21, 2008 5:03 PM |
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MiscellaneousI came across this AP article this morning about Warren Buffett's new documentary (he financed the project) titled: I.O.U.S.A.
- Paul Kiesel | August 21, 2008 4:04 PM |
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MiscellaneousSince news broke yesterday that the FDIC plans on modifying existing IndyMac borrowers' loans that are at risk of defaulting, I've noticed on several news sites (comments section), blogs, and...
- Paul Kiesel | August 21, 2008 1:30 AM |
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MiscellaneousBelow are excerpts from a Los Angeles Times article explaining how troubled IndyMac borrowers are eligible to have their loans modified. According to the FDIC, the most important thing borrowers...
- Paul Kiesel | August 20, 2008 8:17 PM |
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MiscellaneousAccording to an article that was just published on CNNMoney.com, the FDIC is going to offer a plan IndyMac mortgage borrowers that will modify loans for homeowners most at risk of foreclosure.
The...
- Paul Kiesel | August 19, 2008 9:15 PM |
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MiscellaneousIn response to one of the comments left on my blog from earlier today (California's Ticking Option ARM Time Bomb, 8/19/08), here is a list of the top 10 states with the highest foreclosure rates and...
- Paul Kiesel | August 19, 2008 3:29 PM |
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Miscellaneous"Optimists, look away now." This is the first sentence of a very brief article in last week's The Economist. The subhead reads "A nasty mortgage product promises yet more misery," and the title of...
- Paul Kiesel | August 18, 2008 3:38 PM |
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MiscellaneousThe American Dialect Society recognized subprime as the word of the year. The word subprime is familiar to many, whether they have a subprime mortgage or not, and is connoted with cheap --...
- Paul Kiesel | August 15, 2008 7:50 PM |
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MiscellaneousNYU Economics Professor Nouriel Roubini or as the New York Times calls him, Dr. Doom, foresaw the eventual housing bust in September, 2006. He belonged to a minority group of economists who shared...
- Paul Kiesel | August 12, 2008 8:28 PM |
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MiscellaneousCNNMoney.com published an article today that reiterates a point I brought up three months ago in a blog titled, "The Next Mortgage Crisis: Prime Borrowers." CNN's article relates how more borrowers...
- Paul Kiesel | August 12, 2008 2:48 PM |
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MiscellaneousThere is good news and bad news coming from Zillow.com's recent home value statistics for the Los Angeles area.
The good news: If you purchased your current home in 2003, you're very likely not to...
- Paul Kiesel | August 11, 2008 8:42 PM |
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MiscellaneousEven after Fannie Mae and Freddie Mac announced last week that their losses were three times worse than estimated, Treasury Secretary Paulson said, "We have no plans to insert money into either of...
- Paul Kiesel | August 11, 2008 4:47 PM |
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Miscellaneous...This has been a lingering question for the last couple months, as housing bills have been signed, banks have failed, foreclosure rates continue to rise and home prices further depreciate.
So...
- Paul Kiesel | August 08, 2008 8:44 PM |
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MiscellaneousA very interesting article this morning was published in the New York Times, basically saying that: If you sue, make a deal.
According to a soon-to-be released study of civil lawsuits, plaintiffs...
- Paul Kiesel | August 08, 2008 7:37 PM |
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MiscellaneousBank of America, which acquired Countrywide in July, said in a regulatory filing yesterday that the Securities and Exchange Commission was conducting a formal inquiry of the lender and that it had...
- Paul Kiesel | August 07, 2008 6:33 PM |
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MiscellaneousUnitedHealth has been accused of being greedy, slow in processing reimbursement payments, and giving substantial compensation to their former CEO (who faced criminal and civil charges for backdating...
- Paul Kiesel | August 06, 2008 9:32 PM |
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MiscellaneousCEO Richard Syron, who ignored advanced warnings of the current housing crisis, said today that with housing prices falling faster than the company expected, and credit quality accordingly...
- Paul Kiesel | August 06, 2008 2:53 PM |
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MiscellaneousAnother state is accusing Countrywide Financial of mortgage fraud. Connecticut joined California, Florida and Illinois among the states that have sued Countrywide, which was responsible for one in...
- Paul Kiesel | August 05, 2008 3:17 PM |
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MiscellaneousRichard F. Syron, the chief executive of Freddie Mac, rejected internal warnings that, according to the New York Times, "Could have protected the company from some of the financial crises now engulfing it."
- Paul Kiesel | August 04, 2008 8:28 PM |
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MiscellaneousMany news articles today were concerned with prime borrowers and the next wave of foreclosures that will stem from prime borrowers defaulting on mortgages that are "underwater" or too expensive to...
- Paul Kiesel | August 04, 2008 3:49 PM |
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MiscellaneousAs subprime defaults begin to level off for the first time in almost two years, a bigger problem is quickly building: Homeowners with good credit are falling behind on their monthly mortgage...
- Paul Kiesel | August 01, 2008 8:32 PM |
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MiscellaneousAn very well written Op-Ed showed up in the New York Times on Tuesday concerning President Bush's signing of the housing bill, which occurred the following day.
The most interesting element to the...
- Paul Kiesel | August 01, 2008 8:10 PM |
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MiscellaneousAs foreclosure rates continue to rise throughout Southern California, now its citizens have to deal with another problem due to the foreclosure crisis: The West Nile virus.
The two, foreclosures...