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  • Philly Fed State Coincident Indicators
    Published Wed, Nov 25 2009 10:15 AM by Calculated Risk Blog
    So much data, so little time ... just catching up. This was released earlier today: Click on map for larger image. Here is a map of the three month change in the Philly Fed state coincident indicators. Thirty seven states are showing declining three month...
  • Negative Equity Report for Q3
    Published Wed, Nov 25 2009 10:14 AM by Calculated Risk Blog
    Here is the Q3 negative equity from First American CoreLogic mentioned last night. From the report: Negative equity, often referred to as “underwater” or “upside down,” means that borrowers owe more on their mortgage than their homes are worth. Data Highlights...
  • FOMC Minutes: "Unemployment expected to remain elevated for some time"
    Published Wed, Nov 25 2009 10:13 AM by Calculated Risk Blog
    The FOMC now sees economic risks balanced, as opposed to tilted towards the downside (I think this is too optimistic). And they also expect unemployment to remain elevated for some time. Here are the November . Committee Policy Action: [M]ost members...
  • The Future of the Securitization Business, Part II
    Published Wed, Nov 25 2009 10:12 AM by Seeking Alpha
    submits: The following is the second part of a 2-part series of posts on the future of the securitization business. To read Part I, which details a less rosy outlook for credit derivatives, go . It’s (semi-)official: securitization is making a comeback...
  • The Future of the Securitization Business, Part I
    Published Wed, Nov 25 2009 10:12 AM by Seeking Alpha
    submits: The following is the first part of a 2-part series of posts on the future of the securitization business. To read Part II, in which a brighter opinion of the securitization market is formed, go . Credit default swaps, once all the rage among...
  • Single Family Homes Remain Oversupplied by Over 900,000 Units
    Published Wed, Nov 25 2009 10:12 AM by Seeking Alpha
    submits: Inventory of single-family homes fell 136,000 units in October, but they remain oversupplied by 913,000 units when compared to the long-run average.
  • Updates to the Home Affordable Modification Program - MBS Mortgage Loans Introduction
    Published Tue, Nov 24 2009 4:56 PM by www.efanniemae.com
    Announcement 09-05R, Reissuance of the Introduction of the Home Affordable Modification Program, HomeSaver Forbearance™, and New Workout Hierarchy, provided guidance to Fannie Mae-approved servicers on the adoption and implementation of the Home Affordable Modification Program (HAMP). This Announcement describes updates to the policies regarding reclassification and removal of MBS mortgage loans from MBS pools....
  • Freddie Mac Says Loss at Home Lender May Grow
    Published Tue, Nov 24 2009 3:53 PM by dealbook.blogs.nytimes.com
    Freddie Mac, the U.S. mortgage finance giant, said Monday it was seeking $595 million in loan payments and other funds hung up after the bankruptcy of lender Taylor, Bean & Whitaker.
  • Beware the Result of Outrage
    Published Tue, Nov 24 2009 3:53 PM by dealbook.blogs.nytimes.com
    A bill to reform the financial industry is making its way around the House, its amendments intended to help quiet some of the outrage over the bailout, but they may come with unintended consequences, The New York Times's Andrew Ross Sorkin writes...
  • Bank Of America On Gold's Imminent Rise To $1,500
    Published Tue, Nov 24 2009 2:49 PM by www.zerohedge.com
    on why gold is about to plunge. While that perspective was somewhat truncated, a report recently issued by Bank Of America's commodities team presents the case for gold at $1,500/ounce. As BACMLCFC observes, and agrees with other observations presented...
  • FDIC Q3 Banking Profile: 552 Problem Banks
    Published Tue, Nov 24 2009 12:27 PM by Calculated Risk Blog
    The FDIC released the Q3 today. The FDIC listed 552 banks with $345.9 billion in assets as “problem” banks in Q3, up from 416 banks with $299.8 billion in assets in Q2, and 252 and $159.4 billion in assets in Q4 2008. Note: Not all problem banks will...
  • Case Shiller Home Price Graphs
    Published Tue, Nov 24 2009 12:27 PM by Calculated Risk Blog
    S&P/Case-Shiller their monthly Home Price Indices for September this morning. This monthly data includes prices for 20 individual cities, and two composite indices (10 cities and 20 cities). NOTE: This is the Not Seasonally Adjusted data - the link...
  • CoreLogic: 1 in 4 Borrowers Are Underwater
    Published Tue, Nov 24 2009 9:49 AM by feedproxy.google.com
    > Here’s a stat to wake you up this morning: 23% of all mortgage borrowers in the US are underwater: “The proportion of U.S. homeowners who owe more on their mortgages than the properties are worth has swelled to about 23%, threatening prospects for...
  • Tax Burdens Falling in OECD Economies as Crisis Takes Its Toll
    Published Tue, Nov 24 2009 9:48 AM by Wall Street Journal
    The recession is taking its toll on tax receipts across the industrialized world. Aggregate tax burdens in the 30 economies that are members of the Organization for Economic Cooperation and Development, calculated as the ratio of tax revenues to gross...
  • As Black Friday Looms, Will Consumers Show Up?
    Published Tue, Nov 24 2009 9:47 AM by Wall Street Journal
    Black Friday marks the unofficial start of the holiday shopping season, but retailers still aren’t sure how strong a showing consumers will make. New reports Monday didn’t paint an encouraging picture. The Conference Board released a survey of spending...
  • Economists React: Payback to Come in Existing-Home Sales?
    Published Tue, Nov 24 2009 9:47 AM by Wall Street Journal
    Economists and others weigh in on . What a difference a deadline makes : existing home sales rocketed higher in Oct to the fastest pace since Feb 2007 after buyers flooded back into the markets ahead of the original Nov 30 deadline for homebuyer tax credits...
  • Fannie Mae and Freddie Mac Loan Mods Continue to Grow
    Published Tue, Nov 24 2009 9:47 AM by www.fhfa.gov
    November 23, 2009: Fannie Mae and Freddie Mac Loan Mods Continue to Grow
  • Mortgages: 23% of Borrowers have Negative Equity
    Published Tue, Nov 24 2009 8:45 AM by Calculated Risk Blog
    From the WSJ: The proportion of U.S. homeowners who owe more on their mortgages than the properties are worth has swelled to about 23% ... Home prices have fallen so far that 5.3 million U.S. households are tied to mortgages that are at least 20% higher...
  • Report: Fed asks Big Banks for TARP Repayment Plans
    Published Tue, Nov 24 2009 8:44 AM by Calculated Risk Blog
    From Bloomberg: (ht MrM) The central bank this month asked Bank of America Corp. and eight other banks to [submit repayment plans with a timetable]. ... Together the nine banks have received about $142 billion in TARP funds ... The banks in the stress...
  • Moody’s: Credit Card Delinquencies Rise
    Published Tue, Nov 24 2009 8:44 AM by Calculated Risk Blog
    From Bloomberg: Loans at least 30 days overdue, a signal of future defaults, rose to 6.12 percent in October from 5.97 percent in September, Moody’s said ... defaults fell last month to 10.04 percent from 10.72 percent in September, reflecting lower delinquency...
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