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  • 100% Mortgage Financing From USDA
    Published Fri, Nov 20 2009 3:29 PM by CNBC
    I didn't know about it either. Yes, the US Department of Agriculture has a program, instituted back in the 1940s, to assist in rural development, that has become extremely popular during these days of crunching credit. These are USDA-backed loans...
  • Housing Back in the News
    Published Fri, Nov 20 2009 3:29 PM by wallstreetpit.com
    Two reports released this week remind us of the difficulties still confronting the residential real estate market. First, the consumer price index (CPI) showed continued moderation. Yes, the overall number was up 3.4 percent on a monthly annualized basis...
  • Unemployment Rate Increases in 29 States in October
    Published Fri, Nov 20 2009 1:22 PM by Calculated Risk Blog
    From the BLS: Twenty-nine states and the District of Columbia recorded over-the-month unemployment rate increases, 13 states registered rate decreases, and 8 states had no rate change, the U.S. Bureau of Labor Statistics reported today. Over the year...
  • A Few House Price Forecasts
    Published Fri, Nov 20 2009 1:22 PM by Calculated Risk Blog
    From housing consultant Ivy Zelman commenting on the MBA Delinquency report in the NY Times "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: “I...
  • Five Things: The Ever-Sensational Looming Global Economic Collapse
    Published Fri, Nov 20 2009 1:06 PM by www.minyanville.com
    1. The Ever-Sensational Looming Global Economic CollapseThe word came down hard and fast late Wednesday evening "Société Générale has advised clients to be ready for a possible 'global economic collapse' over the next two years mapping a...
  • House Attacks Fed, Treasury
    Published Fri, Nov 20 2009 10:59 AM by Wall Street Journal
    Political frustration over Wall Street's rescue and high unemployment erupted in Congress, with one panel threatening tighter scrutiny on the Fed and another excoriating Geithner.
  • Geithner Under Fire on Economy
    Published Fri, Nov 20 2009 10:59 AM by Wall Street Journal
    Snowballing frustration about the economy and Wall Street bailouts burst into a political fracas, with lawmakers calling on Treasury Secretary Geithner to resign.
  • More on FHA Loans
    Published Fri, Nov 20 2009 8:20 AM by Calculated Risk Blog
    David Streitfeld at the NY Times adds some color: 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...
  • States: Seriously Delinquent Mortgages vs. Unemployment Rate
    Published Fri, Nov 20 2009 8:20 AM by Calculated Risk Blog
    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)....
  • Delinquent Mortgages Equal to Three Times the Balanced For-Sale Inventory
    Published Fri, Nov 20 2009 8:20 AM by Seeking Alpha
    submits: A Flood Will Humble Thee Eight million homes with delinquent mortgages represent a staggering 300% of the normal supply of existing homes for sale. With 3.63 million units now on the market, one million above the long-term average, an inundation...
  • Fed Beaten: Bill To Audit Federal Reserve Passes Key Hurdle
    Published Fri, Nov 20 2009 8:20 AM by www.huffingtonpost.com
    In an unprecedented defeat for the Federal Reserve, an amendment to audit the multi-trillion dollar institution was approved by the House Finance Committee with an overwhelming and bipartisan 43-26 vote on Thursday afternoon despite harried last-minute...
  • Martin Armstrong – A Forecast for Real Estate…
    Published Fri, Nov 20 2009 8:20 AM by economicedge.blogspot.com
    This is a very interesting paper as well. Here Martin shows the following model for real estate, a peak in 2007, a bounce in 2012 to a secondary lower peak in 2015 and then it continues on down into the year 2033. That just would not be pretty for mid...
  • Loan Modifications: 3 Reasons They Are So Slow
    Published Thu, Nov 19 2009 6:01 PM by feedproxy.google.com
    The Mortgage Crisis or Credit Crisis as many are more accurately describing it has left millions of Americans (and Earthlings worldwide for that matter) in or at the brink of foreclosure. Banks and Government have launched an ongoing set of increasingly...
  • Mortgage Delinquencies and Foreclosures by Period Past Due
    Published Thu, Nov 19 2009 6:00 PM by Calculated Risk Blog
    Click on graph for larger image in new window. First, on the market ... This graph is from Doug Short of (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...
  • How to Slow Down Foreclosures
    Published Thu, Nov 19 2009 6:00 PM by Seeking Alpha
    submits: Buried in 2,300-word tale of Christopher Hall’s foreclosure woes is a gem of a program in Philadelphia: Under the rules adopted by Philadelphia’s primary civil court, no owner-occupied house may be foreclosed on and sold by the sheriff’s office...
  • Increasing Volume of Foreclosures in Pipeline
    Published Thu, Nov 19 2009 6:00 PM by Realtor.Org
    The end of moratorium programs is contributing to an anticipated increase in distressed properties.
  • MBA Forecasts Foreclosures to Peak in 2011
    Published Thu, Nov 19 2009 1:53 PM by Calculated Risk Blog
    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...
  • Pimco's Gross, others say to go more defensive
    Published Thu, Nov 19 2009 1:53 PM by www.marketwatch.com
    Pimco’s Bill Gross and other investment advisors are returning to recommendations that investors hunker down and move assets to the most defensive sectors as the economy sends more signals that its growth may be tepid and sluggish at best.
  • Economic Report: Leading indicators rise for 7th straight month
    Published Thu, Nov 19 2009 1:53 PM by www.marketwatch.com
    The index of leading economic indicators rise for the seventh consecutive month in October, showing that a recovery is "unfolding" in the U.S. economy, the private Conference Board said.
  • FHA Drops Two-Appraisal Requirement in Declining Markets: FHA Mortgage Letter 09-48ml
    Published Thu, Nov 19 2009 1:53 PM by feedproxy.google.com
    A second-appraisal requirement that had been issued by the Federal Housing Administration at the height of the housing crisis has been repealed for loans that exceed $417,000 in declining markets and for cash-out refinances. A second-appraisal requirement...
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