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  • Thu, Oct 8 2009
  • 3:19 PM » NAR: Permanent FHA Loan Limits Crucial to Recovery
    Published Thu, Oct 08 2009 3:19 PM by Realtor.Org
    Allowing limits of up to $729,750 to expire would set back the strengthening economy, a real estate professional testifies to Congress.
  • 3:19 PM » Aides: Home Buyer Tax Credit Extension Likely
    Published Thu, Oct 08 2009 3:19 PM by Realtor.Org
    House and Senate majority leadership favors continuation of the real estate stimulus, insiders say.
  • 3:18 PM » Single-Family Inventories Improve
    Published Thu, Oct 08 2009 3:18 PM by Realtor.Org
    One company with markets scattered throughout the country sees a tightening supply.
  • 3:17 PM » Fannie and Freddie Still Struggling, Lawmakers Told
    Published Thu, Oct 08 2009 3:17 PM by dealbook.blogs.nytimes.com
    In the year since the government stepped in to rescue the collapsing mortgage giants Fannie Mae and Freddie Mac , the agencies have taken $96 billion from the Treasury, and may still need more.
    Click Here to Read the Full Article

    Source: dealbook.blogs.nytimes.com
  • 3:17 PM » Builders Are First to Capitalize on Housing Recovery
    Published Thu, Oct 08 2009 3:17 PM by CNBC
    Continued signs of stabilization in the market, from a reversal of falling home price to a tightening in credit spreads, have analysts optimistic about the builders' future. No wonder the sector is hot.
  • 1:28 PM » Roubini says housing market hasn't bottomed
    Published Thu, Oct 08 2009 1:28 PM by Reuters
    NEW YORK (Reuters) - U.S. housing prices may still fall more than 10 percent, killing an incipient recovery, as demand from first-time home buyers fades, leading economist Nouriel Roubini said on Thursday.
  • 1:28 PM » Investor's Real Estate Guide-A Special Report
    Published Thu, Oct 08 2009 1:28 PM by CNBC
    Posted By: To say the residential real estate market is at a crossroads is the understatement of the current economic recession. Topics: | | Sectors: | MEDIA:
  • 1:28 PM » Mortgage Program Hits 500,000 Modifications Before Deadline
    Published Thu, Oct 08 2009 1:28 PM by CNBC
  • 10:54 AM » Time Running Out on Freddie Mac Offer to Pay up to 3.5 Percent of Closing Costs on Eligible Homesteps® Homes
    Published Thu, Oct 08 2009 10:54 AM by Freddie Mac
    McLean, VA – Freddie Mac (NYSE:FRE) today reminded homebuyers they have less than a month left to take advantage of Freddie Mac's offer to pay up to 3.5 percent of the buyer's closing costs when they buy a single family HomeSteps® home as their primary residence under HomeSteps "SmartBuy".
  • 10:07 AM » How Currency Devaluation Can Be A Bad Thing
    Published Thu, Oct 08 2009 10:07 AM by www.zerohedge.com
    Even as the dollar keeps hitting new daily lows, which continues being seen as a positive for the stock market, if not so positive for what , not much has been said about the efforts by Latvia to do all it can to devalue its currency in the . The consequences are already metastasizing, as seen by the increasing volatility of related currencies, particularly the Swedish Krona which has been hit hard against the Euro on concerns of the country's exposure in Baltic states. Proposals by the Latvian government to rectify the lack of trust and to adopt a mortgage holder liability cap have not been met with enthusiasm. According to Commerzbank analysts any improvements attained from this, and other comparable devaluation approaches, would not achieve long-term goals and at best would result in short-term benefits. From : A devaluation would still hit corporate loans and bring with it “a wave of insolvencies,” said Lutz Karpowitz and Antje Praefcke, Frankfurt-based currency strategists at Commerzbank. “Inflation would probably be even more difficult to get under control. The relief would be short-lived.” The proposal by Prime Minister Valdis Dombrovskis on Oct. 6 to cap mortgage holders’ liability ignited speculation that the country’s authorities might be contemplating a currency devaluation by limiting the domestic losses that such a move would incur. Sweden’s krona dropped against the euro on concern the mortgage proposal may trigger bigger losses at the country’s banks, which dominate lending in the Baltic region. With the EU, IMF and Sweden already very much pregnant in Latvia, compliments of a $11 billion bail out package, the fate of Latvia may be much more inversely aligned with that of the surging Euro than most expect. Ironically, a strong Euro is just what a weak Europe does not need, as already 20 of the bloc's 27 countries are projected to experiences budget deficits significantly above the Eurozone's statutory limit of 3% as seen in the graphic below...
    Click Here to Read the Full Article

    Source: www.zerohedge.com
  • 10:07 AM » Reis: Strip Mall Vacancy Rate Hits 10.3%, Highest Since 1992
    Published Thu, Oct 08 2009 10:07 AM by Calculated Risk Blog
    Click on graph for larger image in new window. Reis reports the strip mall vacancy rate hit 10.3% in Q3 2009; the highest vacancy rate since 1992. And rents are cliff diving ... From Reuters: "Our outlook for retail properties as a whole is bleak," Victor Calanog, Reis director of research, said. "Until we see stabilization and recovery take root in both consumer spending and business spending and hiring, we do not foresee a recovery in the retail sector until late 2012 at the earliest ." ... The third-quarter vacancy rate at U.S. strip malls, which include local shopping and big-box centers, rose 0.3 percentage points from the second quarter to 10.3 percent, the highest since 1992, Reis said. ... Factoring in months of free rent and other perks, effective rent fell 0.8 percent from the second quarter to $16.89 per square foot or down 3.8 percent from the third quarter 2008 . Rents were the lowest since mid-2007 ... "Since asking and effective rent growth only turned negative about one year ago, it is daunting to observe this acceleration in decline in what has traditionally been regarded as a stable property type," Calanog said. A grim outlook: no recovery seen in the retail CRE sector "until late 2012 at the earliest" . Malls. Offices. Apartments. The story is the same: rising vacancies and falling rents. Here are the earlier reports this week on offices and apartments:
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:04 AM » Report: Pimco, Baupost Quit CIT Bondholder Committee
    Published Thu, Oct 08 2009 8:04 AM by Calculated Risk Blog
    From Dow Jones: The future of CIT Group Inc. (CIT) grew murkier Wednesday after the disclosure that bond fund giant Pacific Investment Management Co. had quit a steering committee that's trying to prevent the commercial lender from collapse. ... Boston-based Baupost Group LLC [had quit earlier]. ... The company has an estimated $75 billion in assets, and provides critical short-term financing to about one million small companies. ... Investors have until 11:59 p.m. Eastern time on Oct. 29 to tender their bonds under the restructuring plan. Small firms have already been hit hard in this recession, accounting for about 45% of the job losses (see Melinda Pitts at Macroblog: ): In a [Monday], William Dudley, the president of the Federal Reserve Bank of New York, identified financial constraints for small businesses as a restraint on the pace of economic recovery. ... Looking ahead, it's not clear whether small businesses will continue to play their traditional role in hiring staff and helping to fuel an employment recovery. However, if the above-mentioned financial constraints are a major contributor to the disproportionately large employment contractions for very small firms, then the post-recession employment boost these firms typically provide may be less robust than in previous recoveries. As the article mentioned, CIT provides financing for about one million small business. If CIT files bankruptcy, the company will continue to operate, but they may not write any new business. Their competitors will pick up the best of the business, but many small firms will struggle to find new financing. The clock is ticking.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:04 AM » Apartment Glut Keeps Residential Real Estate ETF in Check
    Published Thu, Oct 08 2009 8:04 AM by Seeking Alpha
    submits: In recent months, the U.S. housing market has shown signs of life, with several major metropolitan areas eking out . While home prices remain well below year-ago levels, there are at least signs that the worst has passed, and a modest recovery is now underway. Unfortunately, the same can’t be said about the rest of the U.S. real estate market. Apartment vacancies , the highest level since 1986.
    Click Here to Read the Full Article

    Source: Seeking Alpha
  • 8:04 AM » Bernanke Becomes Reluctant Landlord
    Published Thu, Oct 08 2009 8:04 AM by Seeking Alpha
    submits: The Federal Reserve's ballooning balance sheet is turning into something of a legal morass. Some of the $29 billion in troubled securities and loans the Fed took on from Bear Stearns as part of last year's rescue is starting to give rise to lawsuits. These are cases where the Fed is either suing to collect on a multi-billion commercial real estate debt or is trying to fend off claims from rival creditors.
    Click Here to Read the Full Article

    Source: Seeking Alpha
  • 8:04 AM » Crisis Affects Commercial Mortgages
    Published Thu, Oct 08 2009 8:04 AM by Seeking Alpha
    submits: An article on the front page of the Wall Street Journal “Money and Finance” section yesterday this morning brings up some disturbing analysis of the commercial real estate market. The story discusses the danger that many banks face as they continue to hold commercial mortgages which are growing weaker by the day. In particular, the article notes that banks with the most exposure to commercial real estate have dwindling loss reserves to the point where only 38 cents are set aside for every dollar in bad loans. In 2007 this level was at $1.58 so there has been a significant deterioration over the past two to three years. Much of this debt will need to be financed in the next few years which creates a problem for both borrowers and banks. As property values drop and vacancies mount, many borrowers will simply not have the resources to refinance these loans.
    Click Here to Read the Full Article

    Source: Seeking Alpha
  • 8:04 AM » Local, Location, Location
    Published Thu, Oct 08 2009 8:04 AM by llenrock.com
    We’ve all heard the tired cliche about real estate: Location Location Location. And while it does still hold true, perhaps now more than ever in regards to asset value, there is an interesting trend regarding the financing of those spectacularly located assets. The desire of owners big and small is to refinance current debt with [...]
  • 8:04 AM » Leave Grandma’s House Alone
    Published Thu, Oct 08 2009 8:04 AM by llenrock.com
    The National Consumer Law Center (NCLC) just published a report entitled Subprime Revisted: How Reverse Mortgage Lender’s Put Older Homeowners’ Equity at Risk. The report details the market and process for reverse mortgage lending and couldn’t be more appropriately titled as the reverse mortgage market reeks of subprime lending pitfalls. Worst of all, the concept [...]
  • Wed, Oct 7 2009
  • 6:06 PM » The Housing Tax Credit: NAHB Projections and more
    Published Wed, Oct 07 2009 6:06 PM by Calculated Risk Blog
    From the : Extending the credit through Nov. 30, 2010 and making it available to all purchasers of a principal residence would result in an additional 383,000 home sales ... The NAHB has also been arguing to expand the tax credit from $8,000 to $15,000. But using $8,000 per home buyer - and estimating 5 million home sales over the next year - the total cost of the tax credit would be $40 billion. According to the NAHB this would result in 383,000 additional home sales. Dividing $40 billion by 383 thousand gives $104,400 per additional home sold ! That is higher than my that an extension of the tax credit would cost about $100 thousand per additional home sold. Note: If the NAHB meant $15,000 per home buyer, the cost would be $75 billion - or $157 thousand per additional home sold. And this doesn't included the costs of the unintended consequences. The tax credit is simply motivating some renters to become homeowners (not reducing the overall number of excess housing units). This is , pushing down rents and leading to more commercial real estate (CRE) defaults and foreclosures - and will lead to more losses for lenders. The additional defaults associated with lower rents will probably be higher than the cost of the tax credit. From the WSJ: [Fed economist] Mr. Conway's presentation painted a bleak picture of the sliding real-estate values and enormous debt that will need to be refinanced in the next few years. Vacancy rates in the apartment, retail and warehouse sectors already have exceeded those seen during the real-estate collapse of the early 1990s, Mr. Conway noted. His report also predicted that commercial real-estate losses would reach roughly 45% next year. Valuing real estate has always been tricky for banks, and the problem is particularly acute now because sales activity is practically nonexistent. ... More than half of the $3.4 trillion in outstanding commercial real-estate debt is held by banks. Motivating some renters to become homeowners has increased...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 6:06 PM » Consumer Credit Declines Sharply in August
    Published Wed, Oct 07 2009 6:06 PM by Calculated Risk Blog
    From MarketWatch: U.S. consumers reduced their debt for the seventh straight month in August, the Federal Reserve reported Wednesday. Total seasonally adjusted consumer debt fell $11.98 billion, or at a 5.8% annual rate ... In the subcategories, credit-card debt fell $9.91 billion, or 13.1%, to $899.41 billion. This is the record 11th straight monthly drop in credit card debt. Non-revolving credit, such as auto loans, personal loans and student loans fell $2.10 billion or 1.6% to $1.56 trillion. Cash-for-clunkers probably kept non-revolving credit from falling further - just wait for the September numbers! Click on graph for larger image in new window. This graph shows the year-over-year (YoY) change in consumer credit. Consumer credit is off 4.4% over the last 12 months. The previous record YoY decline was 1.9% in 1991. Here is the Fed report: Consumer credit decreased at an annual rate of 5-3/4 percent in August 2009. Revolving credit decreased at an annual rate of 13 percent, and nonrevolving credit decreased at an annual rate of 1-1/2 percent. Note: The Fed reports a simple annual rate (multiplies change in month by 12) as opposed to a compounded annual rate. Consumer credit does not include real estate debt.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 5:19 PM » Did You Know: Property Values by State
    Published Wed, Oct 07 2009 5:19 PM by Google News
    Did you know that in 2008 Hawaii recorded the highest median value of owner-occupied homes--$560,200?
  • 5:19 PM » Economists' Commentary: Is the Tax Credit Working?
    Published Wed, Oct 07 2009 5:19 PM by Google News
    An extension of the current credit through the end of 2010 is expected to yield an additional 350,000 sales.
  • 5:03 PM » FHA Defends Role in Recovery
    Published Wed, Oct 07 2009 5:03 PM by Realtor.Org
    Federal Housing Administration Commissioner David Stevens says the government insurer poses little risk to taxpayers and is underwriting far more lower-risk borrowers compared to a few years ago.
  • 3:49 PM » Hotel Defaults and Foreclosures Increase Sharply in California
    Published Wed, Oct 07 2009 3:49 PM by Calculated Risk Blog
    Hotel investment has always been boom and bust, but the most recent boom was off the charts ... Click on graph for larger image in new window. This graph shows lodging investment as a percent of GDP since 1959 through Q2 2009. Lodging investment peaked in mid-2008, but because of the length of time for hotel construction, there are many new hotels still coming online - at just the wrong time. From the LA Times: (ht Ann) ... Statewide, more than 300 hotels were in foreclosure or default on their loans as of Sept. 30 -- a nearly fivefold increase since the start of the year, according to an industry report released Tuesday. ... Most struggling hotels remain open, but industry experts believe many properties are likely to be closed down in the months ahead, even if they are not in foreclosure, because they are losing so much money. ... "I have never seen so many lenders contemplating mothballing properties," said Jim Butler, a hotel lawyer and chairman of the global hospitality group for Jeffer, Mangels, Butler & Marmaro. "It can and it will get worse for the hotel industry." ... Statewide, 260 hotels were in default on their loans and 47 had been taken over by their lenders in foreclosure, the Atlas report said. ... a leading hotel consulting firm, Smith Travel Research, recently issued a report that predicted no significant improvement for the hotel industry until 2011 at the earliest. "It's going to be a lot worse than it is now," said Bobby Bowers, senior vice president of Smith Travel Research. ... an increasing number of hotels have so little revenue that they can't even afford to pay their operating bills and payroll, not to mention servicing debt . Owners of such hotels are increasingly handing the keys back to the lenders, and the problem is likely to get worse: As many as 1 in 5 U.S. hotel loans may default through 2010 , UC Berkeley economist Kenneth Rosen said. In some cases the lenders are simply locking up the properties...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:48 PM » Office Vacancy Rate and Unemployment
    Published Wed, Oct 07 2009 3:48 PM by Calculated Risk Blog
    Last night Reis that the U.S. office vacancy rate hits 16.5 percent in Q3. (See for a graph). Click on graph for larger image in new window. This graph shows the office vacancy rate vs. the quarterly unemployment rate and recessions. The unemployment rate and the office vacancy rate tend to move in the same direction - and the peaks and troughs mostly line up. As the unemployment rate continues to rise over the next year or more, the office vacancy rate will probably rise too. Reis' forecast is for the office vacancy rate to peak at 18.2 percent in 2010, and for rents to continue to decline through 2011. One of the questions is why - with a 9.8% unemployment rate in September - the office vacancy rate isn't even higher? This is probably because of less overbuilding, as compared to the S&L related overbuilding in the '80s, and the tech bubble overbuilding a few years ago. Also a number of non-office workers (construction and retail workers) have lost their jobs in the current employment recession. The second graph shows office investment as a percent of GDP since 1959 through Q2 2009. Office investment peaked in Q3 2008, and with the office vacancy rate rising sharply, office investment will probably decline at least through 2010. Of course many existing office buildings were purchased in recent years at very low cap rates, with excessive leverage, and optimistic income projections. Now that prices have fallen sharply, many of these building owners are far underwater - and that will lead to more losses for lenders. See the WSJ:
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:47 PM » NY Times: Employment Tax Credit Gains Support
    Published Wed, Oct 07 2009 3:47 PM by Calculated Risk Blog
    From Catherine Rampell at the NY Times: ... a tax credit for companies that create new jobs ... is gaining support among economists and Washington officials ... Timothy J. Bartik, a senior economist at the Upjohn Institute for Employment Research who is working on the draft with John H. Bishop of Cornell, estimates that it would cost about $20,000 for each job created. ... Under the proposal from Mr. Bartik and Mr. Bishop, the credit in the first year would equal 15.3 percent of the cost of adding an employee. In the second year, it would fall to about 10.2 percent. ... The authors estimate their proposal could create more than two million jobs in the first year. ... Of course, even in recessionary times, some companies are hiring without tax breaks. So a subsidy could merely benefit those businesses that already would have added new workers. An American Economic Review study has suggested that the 1970s policy was responsible for adding about 700,000 of the 2.1 million jobs that were awarded the credit. ... Advocates argue that such incentives would be more effective this time around not only because of design, but also because of timing. In 1977, hiring was already on the upswing, whereas economists expect today’s job market to decline a bit more and then stagnate for months. The timing is probably better than in 1977 when employment was already recovering. If the 1970s estimate is accurate (about 2/3 of the jobs would have been created anyway), this proposal is already much better targeted than the housing tax credit, and better for the economy and the housing market too. A key problem for housing and the economy is that there are too many housing units compared to the number of households. This proposal will indirectly stimulate more household formation - more jobs will create more households - and more households is the key to the housing market and the economy.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:46 PM » Reis: U.S. Office Vacancy Rate Hits 16.5% in Q3
    Published Wed, Oct 07 2009 3:46 PM by Calculated Risk Blog
    Click on graph for larger image in new window. This graph shows the office vacancy rate starting 1991. Reis is reporting the vacancy rate rose to 16.5% in Q3 from 15.9% in Q2. The peak following the previous recession was 17%. From Bloomberg: U.S. office vacancies ... climbed to 16.5 percent ... New York-based Reis said in a report. Effective rents ... fell 8.5 percent, the biggest year-over-year drop since 1995 . “The decline in effective rents really accelerated after the fall of Lehman Brothers,” Victor Calanog, director of research at Reis, said in a statement. “Tenants will continue shedding occupied space as jobs are lost.” ... “Weakness in rents is not concentrated in just a few” cities, Calanog said. Earlier this year Reis forecast that the U.S. office vacancy rate will top out at 18.2 percent in 2010, and that rents will continue to decline through 2011. No wonder the Fed is so worried (previous post).
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:45 PM » Google Real Estate Index
    Published Wed, Oct 07 2009 3:45 PM by The Big Picture
    As discussed at the StockTwits panel last week, here is the . It tracks queries related to “real estate, mortgage, rent, apartments” and so forth. Go figure: Even the search pattern for Real Estate is ; > > Thanks, Mike!
    Click Here to Read the Full Article

    Source: The Big Picture
  • 3:45 PM » Be Happy About the Lack of Securitization
    Published Wed, Oct 07 2009 3:45 PM by Seeking Alpha
    submits: has a good response to piece today on the woeful state of the securitization markets: isn’t that a good thing? Here’s my question: why does it have to be a return to shadow banking? The banks don’t need to sell securitized debt to make loans — they could start lending out of all those excess reserves they currently hold. Or to put it differently, by the numbers there’s no obvious reason we shouldn’t be seeking a return to traditional banking, with banks making and holding loans, as the way to restart credit markets. Yet the assumption at the Fed seems to be that this isn’t an option — that the only way to go is back to the securitized debt market of the years just before the crisis.
    Click Here to Read the Full Article

    Source: Seeking Alpha
  • 3:45 PM » Specifically, What Should Be Done For Jobs?
    Published Wed, Oct 07 2009 3:45 PM by robertreich.blogspot.com
    In his Saturday radio address, President Obama acknowledged the White House is exploring "additional options to promote job creation.” It's about time. This is the worst job market in seventy years -- including the longest duration of steep job losses. If anyone had any doubt that something far more dramatic must be done, listen to former Federal Reserve Chairman Alan Greenspan. He warned Sunday against further stimulus because “we are in a recovery, and I think it would be a mistake to say the September numbers alter that significantly.” Greenspan has turned into an inverse soothsayer. After his cataclysmic error about where the economy was headed before the meltdown, his views about the future should be carefully noted as being the exact opposite of what's likely to be in store. The economy may be in a technical recovery but this is not a real recovery and the "green shoots" or "positive signs" that Wall Street cheerleaders love to shout about are phantoms of their ever-optimistic imaginations. The stimulus is working but it is far from adequate. Before the stimulus, we were losing more than 500,000 jobs a month. Now that 40 percent of the stimulus has been spent, we are losing more than 250,000 jobs a month. What to do? With the debt ceiling approaching and the gravitational pull of the 2010 elections increasing, the White House can't go back to Congress with a formal bill to enlarge the stimulus package. Four simpler moves would be to: (1) Use existing authority under both the stimulus package enacted earlier this year and the nefarious TARP bailout fund -- extending and combining them into a fund to make up for state and local cuts in public school budgets, childrens' health, public health (we need workers to administer swine flu vaccine) and public transportation. Instead of bailing out banks and giant automakers, we should switch to bailing out public services that average people need. (2) Propose a one-year payroll tax...
    Click Here to Read the Full Article

    Source: robertreich.blogspot.com
  • 1:25 PM » Warehouse Lending: Fannie and Freddie to the Rescue!
    Published Wed, Oct 07 2009 1:25 PM by CNBC
    Posted By: Several months ago on the blog we discussed the predicament small independent lenders are in because they are no longer able to access the cash to make their loans. That is because warehouse lending has dried up considerably. That leaves the big banks to get most of the share of the mortgage market. Topics: | | Sectors: | Companies: | | | | MEDIA:
  • 1:25 PM » Apartments: Rents Plunge, REITs Soar
    Published Wed, Oct 07 2009 1:25 PM by CNBC
    Posted By: A new report from a commercial real estate tracking firm, shows apartment vacancies nationwide rose to the highest level since 1986. This as rents plunge accordingly, down 2.7 percent from a year ago. Asking rents are down 1.8 percent from last year. Why? Jobs. Topics: | | Sectors: | Companies: | MEDIA:
  • 1:25 PM » Reverse mortgages to be the next foreclosure shoe to drop
    Published Wed, Oct 07 2009 1:25 PM by loanworkout.org
    SENIORS AND THEIR HOME EQUITY THREATENED AS SUBPRIME LENDERS, ABUSES APPEAR IN REVERSE MORTGAGE MARKET National Consumer Law Center Report Released at News Event with U.S. Sen. Claire McCaskill BOSTON, MA///Oct. 6, 2009///Abuses and abusers from the subprime mortgage market have begun showing up in the reverse mortgage market, putting at risk the equity and savings of [...]
    Click Here to Read the Full Article

    Source: loanworkout.org
  • 1:25 PM » Bill proposes mediation before home foreclosure
    Published Wed, Oct 07 2009 1:25 PM by loanworkout.org
    Senate Republicans have shown little interest in the Democrats’ moratorium bill, shelving it since it passed the House. Sen. John Carey, a southern Ohio Republican who heads the Finance Committee, where the moratorium bill is being considered, said calling timeout on all foreclosures is the wrong approach. “I think it has the possibility of making things [...]
    Click Here to Read the Full Article

    Source: loanworkout.org
  • 1:25 PM » New York Fed purchases $1.3 billion in Treasury coupons
    Published Wed, Oct 07 2009 1:25 PM by NY Fed
    New York Fed purchases $1.3 billion in Treasury coupons
  • 1:25 PM » Did You Know: Secondary Specialties of Residential Brokerage Specialists
    Published Wed, Oct 07 2009 1:25 PM by Google News
    Did you know what the top three secondary specialties among residential specialists are?
  • 12:54 PM » Securitization: Have We Learned Our Lesson?
    Published Wed, Oct 07 2009 12:54 PM by Seeking Alpha
    submits: By James Kwak The New York Times had that said, basically, that credit has dried up because of lack of demand for asset-backed securities. In English, that means that since no one wants to invest in securities that are made out of home mortgages, the people who originate mortgages have no place to sell the mortgages, so they don’t have any money to lend.
    Click Here to Read the Full Article

    Source: Seeking Alpha
  • 12:53 PM » HUD announces $118 million in grants to protect thousands of children from lead and other home health hazards
    Published Wed, Oct 07 2009 12:53 PM by HUD
    WASHINGTON - The U.S. Department of Housing and Urban Development is awarding more than $118 million in grants to 46 local projects to conduct a wide range of activities that include eliminating lead hazards in more than 9,000 homes; training workers in lead safety methods; increasing public awareness about childhood lead poisoning; and evaluating outreach on controlling housing-based hazards. The awards were announced by HUD Secretary Shaun Donovan yesterday at the Council on Foundations conference in San Antonio, Texas. Lead is a known toxin that can impair children's development and have effects lasting into adulthood and other materials in the home can trigger allergic responses and asthma.
  • 12:53 PM » HUD charges Missouri landlord with discriminating against women and African Americans
    Published Wed, Oct 07 2009 12:53 PM by HUD
    KANSAS CITY, KS - The U. S. Department of Housing and Urban Development announced today that it has charged a Rolla, Missouri, apartment complex, management company, and manager with housing discrimination based on race, race association, sex, and retaliation.
  • 12:53 PM » HUD charges Illinois University with violating the Fair Housing Act
    Published Wed, Oct 07 2009 12:53 PM by HUD
    WASHINGTON - The U.S. Department of Housing and Urban Development today announced that it has charged Millikin University in Decatur, Illinois with housing discrimination for allegedly refusing to allow a student with epilepsy and blindness to live in a dormitory with her trained service dog.
  • 11:05 AM » Fed's Hoenig: too soon to pull support as U.S. recovers
    Published Wed, Oct 07 2009 11:05 AM by Reuters
    DENVER (Reuters) - A Federal Reserve official said on Tuesday that while the U.S. economy is clearly rebounding, it is too soon to begin to withdraw the Federal Reserve's massive support.
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