“It is that time of the month again folks! The June monthly CA foreclosure report is ready, data courtesy of Foreclosure Radar. It was another ‘record’ month, which when speaking of foreclosures, is not a good thing. However, in a couple of areas we show some ‘leveling-off’.”
More: continued here
“”The rule makes shorting more difficult, which looks like an attempt to balance the pro-shorting effect of the dividend cut,” the expert said. He asked that we not name her because he’d totally lose his high-paying job at a white shoe law firm if he was quoted on this.”
More: continued here
“Wachovia’s stock fell to a 17-year low yesterday after an analyst warned that the commercial bank, which holds more deposits than any other in the Washington region, will face two years of losses arising from the credit crisis and a dramatic restatement of troubled assets on its books.”
More: continued here
“Lee Adler and Russ Winter analyze the impact of key financial events on the financial markets and economy and tell what to look for in the weeks and months ahead. Russ says panic has created bargains in some bank stocks.”
More: continued here
“Wells has a substantial $84 billion portfolio of home equity loans — and half of those are located in hard hit states like California and Florida; of that total, it has carved out the worst $11 billion for liquidation, with rest remaining as part of its “core” home equity portfolio.”
More: continued here
“Did you know that they paid their mortgage broker clients up to $50k PER LOAN in rebate-based commission? They allowed this up until last week!”
More: continued here
“Mortgage applications rose slightly as interest rates appear to have eased, with the Mortgage Bankers Association saying on Wednesday that its composite index of purchase and refinance activity jumped 1.7 percent for the week ended July 11 to 522.2. Applications were 17.4 percent below year-ago levels.”
More: continued here
“The country depends on Asian, Russian and Middle Eastern investors to fund much of its $700bn (£350bn) current account deficit, leaving it far more vulnerable to a collapse of confidence than Japan in the early 1990s after the Nikkei bubble burst. Britain and other Anglo-Saxon deficit states could face a similar retreat by foreign investors.”
More: continued here
“The criticism prompted House leaders to push back their timetable for approving emergency housing legislation, saying final action would take at least until early next week. The move came after a growing number of Republicans voiced skepticism and, in some cases, angry opposition, to the administration’s proposal to help the two companies, Fannie Mae and Freddie Mac.”
More: continued here
“Hats off Shelby and Bunning. The latter is threatening to Filibuster Paulson’s proposed bailout of Fannie Mae and Freddie Mac. See Paulson Crosses Rubicon Lands In 5th Dimension for Paulson’s absurd proposal asking Congress for “authority to buy unlimited stakes in and lend to the companies, aiming to stem a collapse in confidence”.”
More: continued here