New York Times:
Josh Pastner’s program has lost four starters to graduation and two more to the N.B.A. And the No. 1-rated recruiting class went elsewhere.
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Calculated Risk:
From Tim Duy: The Fed in a Corner Over the years, I have warned a seemingly countless number of undergraduates that Fed's hold on monetary independence was tenuous at best. Independence is not guaranteed by the Constitution. Congress made the Fed, and Congress can unmake the Fed. The Fed could only maintain the privileg (Read More)
Sellsius real estate marketing blog:
The coming Realtor Property Resource (RPR™ ) will provide “nationwide access to public record information such as tax and assessment data, liens, zoning, permits, environmental information, and information on neighborhoods, school district and community demographics….” (Source: NAR Press Release November 9, 2009).This aggre (Read More)
Calculated Risk:
Here is some national data on home buyer financing in October. This is from a survey by Campbell Communications (excerpted with permission) released today.Source: October Trends in Existing Home Sales, a presentation from Campbell/Inside Mortgage Finance Monthly Survey on Real Estate Market Conditions.Thomas Popik, Campbell (Read More)
Seattle Real Estate ~ Rain City Guide:
Underwriting guidelines continue to get tougher. This week FHA tightened her belts on streamline refinances and over the weekend of December 12, 2009, Fannie Mae’s DU 8.0 will be implemented. DU 8.0 will require:minimum credit score of 620 for Fannie Mae, FHA, USDA and VA loans. (except for DU Refi Plus)maximum debt to (Read More)
Calculated Risk:
From housing consultant Ivy Zelman commenting on the MBA Delinquency report in the NY Times U.S. Mortgage Delinquencies Reach a Record High"I’ve been pretty bearish on this big ugly pig stuck in the python and this cements my view that home prices are going back down."From Bloomberg: Housing Recovery in U.S. Set Back to 201 (Read More)
Calculated Risk:
David Streitfeld at the NY Times adds some color: Easy Loans in Expensive Areas In January, Mike Rowland was so broke that he had to raid his retirement savings to move [to San Francisco] from Boston.A week ago, he and a couple of buddies bought a two-unit apartment building for nearly a million dollars. They had only a lit (Read More)
Calculated Risk:
Click on graph for larger image in new window.First, on the market ...This graph is from Doug Short of dshort.com (financial planner): "Four Bad Bears". Note that the Great Depression crash is based on the DOW; the three others are for the S&P 500.Reader Yuri asked me if the number of 30 day delinquencies is decreasing. He (Read More)
Calculated Risk:
Here is a scatter graph comparing the seriously delinquency rate for mortgage loans vs. unemployment rate for all states. The seriously delinquent rate include 90+ days delinquent loans, and loans in the foreclosure process for Q3 2009 (Source: MBA). Click on graph for larger image in new window.There is a relationship betw (Read More)
Calculated Risk:
The MBA reports a record 14.4 percent of mortgage loans were either one payment delinquent or in the foreclosure process in Q3 2009. This is an increase from 13.2% in Q2 2009. From the MBA: Delinquencies Continue to Climb in Latest MBA National Delinquency Survey The delinquency rate for mortgage loans on one-to-four-unit (Read More)
Calculated Risk:
On the MBA conference call concerning the "Q3 2009 National Delinquency Survey", MBA Chief Economist Jay Brinkmann said this morning: The problem is moving to prime loans, including fixed rate prime loans, and also FHA loans. "We are seeing the first hit on the weaker prime fixed borrowers." Remember the delinquency rate i (Read More)
New York Times:
The Mortgage Bankers Association’s quarterly survey found that one in seven homeowners are either late on their payments or are already in foreclusure.
. (Read More)
New York Times:
The Mortgage Bankers Association’s quarterly survey found that one in seven homeowners are either late on their payments or are already in foreclusure. (Read More)
New York Times:
The University of Memphis refused on Wednesday to release the N.C.A.A.’s response to its appeal of a ruling that vacated the 2007-8 men’s basketball season.
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Calculated Risk:
Another busy day and I skipped the MBA market index earlier ... note: The MBA Q3 delinquency report will be released tomorrow.The MBA reports: Mortgage Applications Decrease in Latest MBA Weekly SurveyThe Market Composite Index, a measure of mortgage loan application volume decreased 2.5 percent on a seasonally adjusted bas (Read More)