Miscellaneous

• The Helpless Subprime Borrower

  Paul Kiesel | April 22, 2008 4:52 PM | 1 CommentLos Angeles, CA

  70 percent of seriously delinquent subprime mortgage borrowers are still not getting the help they to stay in their homes. Mortgage rescue programs like Hope Now are not able to keep pace with the...

• Risky Mortgages: No Longer Part of Bank of America’s Lending Lexicon

  Paul Kiesel | April 22, 2008 4:46 PM | 0 CommentsLos Angeles, CA

  Bank of America is making plans to overhaul its mortgage product menu, after they complete their acquisition of Countrywide Financial. According to CNNMoney, Bank of America will offer traditional...

• California Hits Foreclosure Record

  Paul Kiesel | April 22, 2008 3:23 PM | 0 CommentsLos Angeles, CA

  Over the first three months of this year, California, due to sinking home values and the collapse of teaser rate mortgages, sent a record number of homes into the foreclosure process. About 110,000...

• “Risky Mortgages” Will No Longer Be Part of Bank of America’s Lending Lexicon

  Paul Kiesel | April 22, 2008 2:52 PM | 0 CommentsLos Angeles, CA

  Bank of America is making plans to overhaul its mortgage product menu, after they complete their acquisition of Countrywide Financial. According to CNNMoney, Bank of America will offer traditional...

• More Foreclosures in California, Nevada and Arizona

  Paul Kiesel | April 21, 2008 6:54 PM | 0 CommentsLos Angeles, CA

  According to the Press-Telegram on Sunday, new statistics will be released later this week showing a huge jump in foreclosed homes across the states of California, Nevada and Arizona. Nevada fairs...

• UBS Admits "Subprime Miscues"

  Paul Kiesel | April 21, 2008 4:23 PM | 0 CommentsLos Angeles, CA

  UBS released a report on its Web site Monday conceding that a “blind drive for revenue” led it to take more risks than it should have. UBS has written off more debt from the subprime mortgage crisis...

• Bush's HUD Nominee

  Paul Kiesel | April 18, 2008 3:39 PM | 0 CommentsLos Angeles, CA

  Steve Preston has been given the nod by President Bush to be his housing secretary nominee, according to a senior administration official. Fortunately, this appears to be a bipartisan move, with...

• A Surge in Fraud Probes

  Paul Kiesel | April 17, 2008 6:03 PM | 1 CommentLos Angeles, CA

  The LA Land blog of the Los Angeles Times, today, had some interesting comments in regards to the recent FBI mortgage fraud investigations. LA Times blogger Peter Viles gives his two cents on the...

• Henry Paulson and the Curious Case of the Flurry of Foreclosures

  Paul Kiesel | April 16, 2008 9:02 PM | 0 CommentsLos Angeles, CA

  Henry Paulson might be as confused as the average American when it comes to the subprime mortgage crisis. Testifying in front of a house-panel a month ago, Mr. Paulson said, “[. . .] let me...

• Bear Stearns and the Catholic Church

  Paul Kiesel | April 15, 2008 8:28 PM | 2 CommentsLos Angeles, CA

  Comedian Bill Maher is known for his subversive, yet erudite humor on his HBO talk show Real Time with Bill Maher. And, occasionally, he’ll make a comment or two that makes even a very open-minded...