Recent Housing Crash Central News
And then, right on schedule, the FDIC ran out of money and became insolvent (no matter how they try to spin it)
Posted from HousingPANIC - The Housing ... 5 hours ago
Housing Crash Central : Housing Crash News and Blogs
Ponzi.Scheme.And then the music ended.The bankers made their bonuses, had their parties, lived their lavish lifestyles. And the US taxpayer picked up the tab.FDIC may borrow money from TreasuryFederal Deposit Insurance Corp (FDIC) might have to borrow money from the Treasury Department to see it th... (original story)
More Jim Cramer on housing, foreclosures, Fannie, Freddie and banks on the Today show
Posted from HousingPANIC - The Housing ... 5 hours ago
Housing Crash Central : Housing Crash News and Blogs
I don't care what a lot of you say, I like Cramer. He's an entertaining little monkey. And he was right about housing when he said "if you buy a house you're crazy" on the Today show a year ago (rewatch this classic). Oooh, the housewives and the six percenters didn't like that. But he was right... (original story)
FHA Mortgage Insurance Increasing October 1, 2008
Posted from The Mortgage Porter 5 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
This is another result of HR 3221, I mentioned in an earlier post that the ceiling was raised for how much could be charged for FHA upfront and monthly mortgage insurance...I recently learned the actual details. Upfront mortgage insurance will... (original story)
People of New Orleans - leave. Leave now. Get out. Run. Now. You're on your own.
Posted from HousingPANIC - The Housing ... 5 hours ago
Housing Crash Central : Housing Crash News and Blogs
Global Warming + Bush/Cheney + Bad Luck = Disaster.Will the GOP postpone their convention? Or will they read My Pet Goat, and let them eat cake?(and just a note - stop building homes in flood zones America. It's only gonna get worse..)NEW ORLEANS (AP) — On the eve of Hurricane Katrina's third an... (original story)
Say hello to Gustav.. stopping by to remind people of how incompetent Bush & Cheney were during Katrina (and coming ashore during the GOP convention)
Posted from HousingPANIC - The Housing ... 5 hours ago
Housing Crash Central : Housing Crash News and Blogs
Will a big hurricane hitting the gulf during the GOP convention remind people of.....This or This or This??We were run by monkeys when we needed to be run by competent, uncorrupted and intelligent people. And as we all know now, America and the world paid the price.Big time.Meanwhile, good luck to ... (original story)
A Shakeup at Fannie Mae
Posted from Housing Wire 7 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
Fannie Mae (FNM: 6.48 +15.30%) on Wednesday shook up its top-level management in an effort to underscore its intentions to manage through the current credit cycle, jettisoning three key executives in a revamping of the company’s executive team clearly designed to help bolster investor confiden... (original story)
Thrifts Lose $5.4 Billion in Q2: Report
Posted from Housing Wire 8 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
The thrift industry posted a $5.4 billion loss for the second quarter of 2008, as institutions set aside record reserves for loan losses during the continued housing market downturn, the Office of Thrift Supervision said on Wednesday. During the second quarter, thrifts set aside $14.0 billion in loa... (original story)
Fannie, Freddie Shares Rally; Nationalization Fears Ease
Posted from Housing Wire 8 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
You know what, maybe we were all a little premature on this nationalization talk. That’s the emerging sentiment among investors, at least, and one now also being pushed actively by analysts with a better grasp of the debt markets that really drive both Fannie Mae (FNM: 6.48 +15.30%) and Freddi... (original story)
MBA Names New Chief Economist
Posted from Housing Wire 12 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
After former chief economist Doug Duncan jumped to Fannie Mae in March, the Mortgage Bankers Association said late Tuesday that it has tapped Jay Brinkmann as Duncan’s replacement. Brinkmann will carry the titles of chief economist and senior vice president for research and economics at the in... (original story)
Mortgage Applications Increase — or Did They?
Posted from Housing Wire 12 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
Most media sources will report that mortgage applications posted their first increase in three weeks, according to data released by the Mortgage Bankers Association on Wednesday, as mortgage rates fell slightly. The group’s weekly application survey found that applications rose 0.5 percent fro... (original story)
Banking profits down 87%
Posted from Blown Mortgage 12 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
The banking sector had its worst quarterly performance in nearly twenty years as profits fell 86.5% across the sector. The weakening has forced the FDIC to begin replenishing the deposit insurance reserve this fall. The major loss in profits was tied to loan loss reserve provisions which require b... (original story)
Why Economic Weakness In Europe Is Causing Mortgage Rates To Fall
Posted from The Mortgage Reports Blog 12 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
In the United States, tales of economic gloom in Europe barely register in our business newspapers let alone our local ones. But, for Americans in need of a mortgage, what happens economically across the Atlantic Ocean can have a big impact on mortgage rates here in the United States. It all comes d... (original story)
Ed McMahon foreclosure home attracts mysterious buyer
Posted from Foreclosure.com Blog 12 hours ago
Housing Crash Central : All About Foreclosures
Ed McMahon — who recently captured national media headlines because he defaulted on $4.8 million home loan — has found a buyer for his six-bedroom, five-bathroom Beverly Hills, Calif., estate, according to TheCelebrityCafe.com. It’s great news for the 85-year-old iconic television pers... (original story)
Thornburg on its last legs?
Posted from Blown Mortgage 12 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
Thornburg Mortgage, the company famous for buying prime (then) jumbo mortgages (above $417,000) is struggling to survive. The company’s CEO calls the situation “precarious” and they continue to try to fight off the effects of a $3.3 billion first quarter loss and a secondary marke... (original story)
Bear Stearns MBS Vets Jump to RBS Greenwich
Posted from Housing Wire 14 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
And the exodus of former Bear Stearns & Cos. MBS personnel continues — but, in a surprising move, more than a few have landed at RBS Greenwich Capital in recent weeks. Despite the industry downturn, the Connecticut-based fixed-income firm said Wednesday that it had added 16 professionals ... (original story)
Just another renter who can't look away from the oncoming train wreck that is the housing crash
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