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August 2008 - Around The Web



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  • Declines from Peaks in Housing Show Big Disparity
    Published Thu, Sep 04 2008 10:04 AM by Seeking Alpha
    Hickey and Walters () submit: Below we highlight the percentage difference between current median home prices and the max median home prices seen in each of the twenty cities that S&P/Case-Shiller tracks. As shown, there is quite a big difference...
  • Beleaguered banks
    Published Thu, Sep 04 2008 9:47 AM by www.ft.com
    Is another federal lifeline required? The Federal Deposit Insurance Corporation, backer of US bank accounts, needs a top-up
  • Credit union savings outpace lending
    Published Thu, Sep 04 2008 9:47 AM by feeds.bizjournals.com
    Membership at federally insured credit unions across the country grew 1 percent to 88 million members, with savings outpacing lending in the first six months of 2008, according to the .
  • Thornburg on its last legs?
    Published Thu, Sep 04 2008 9:47 AM by feeds.feedburner.com
    . The company’s CEO calls the situation “precarious” and they continue to try to fight off the effects of a $3.3 billion first quarter loss and a secondary market that’s all but vanished. Thornburg is classic proof that Bernanke’s containment theory was...
  • Mr. Mortgage: Jumbo-Prime Under Attack by the Raters - Big Banks Beware
    Published Thu, Sep 04 2008 9:47 AM by ml-implode.com
    More news for you on the Jumbo-Prime and Alt-A front. The recent flurry of action by the raters is almost too much to keep up with. In the past month, all three primary ratings agencies have torn apart the Jumbo Prime and Alt-A RMBS market. Now Moody...
  • Scandal over loose lending hits China bank CDB
    Published Thu, Sep 04 2008 9:47 AM by www.ft.com
    The state-owned lender, China Development Bank, that owns 3 per cent of Barclays Bank of the UK, extended billions of renminbi in illegal and irregular loans last year, according to a report issued by China's state auditor
  • California Home Sales: 43% Year Over Year Increase!
    Published Thu, Sep 04 2008 9:47 AM by Seeking Alpha
    submits: . In contrast to the national news that existing home sales rose from June to July but are still below the levels from a year ago, California is bucking the national trend by showing its 4th straight month of year over year sales gains. Many...
  • The Reason to Ignore Most Economists
    Published Thu, Sep 04 2008 9:47 AM by Seeking Alpha
    submits: Durable goods orders (manufactured goods designed to last at least three years) increased 1.3% last month to a seasonally adjusted $219.26 billion, the Commerce Department said today. Excluding transportation, durable orders rose a promising...
  • June Case-Shiller Housing Numbers
    Published Thu, Sep 04 2008 9:47 AM by Seeking Alpha
    Hickey and Walters () submit: From May to June, half of the cities that Case-Shiller tracks saw an increase in median home prices, while half saw declines. The Composite 20-City index saw a month-over-month decline of 0.50% and a year-over-year decline...
  • 4 Money Problems That Obama Can't Fix
    Published Thu, Sep 04 2008 9:47 AM by Seeking Alpha
    submits: The talk sounds reassuring, even if we know these are vapid campaign promises. As fixing the economy surges to the top of the candidates' to-do lists, Barack Obama and John McCain are starting to promise free money as if it were just sitting...
  • Merrill Lynch Analyst: July Housing Numbers Overly Optimistic
    Published Thu, Sep 04 2008 9:47 AM by Seeking Alpha
    submits: While the July home sales bounce had many singing out that happy days are hear again, Merrill Lynch economist David Rosenberg is less than impressed, saying the August numbers are probably going to reveal a renewed down-leg in housing.
  • The Silent Boom in Homebuilding Stocks
    Published Thu, Sep 04 2008 9:47 AM by Seeking Alpha
    submits: The pain in housing continues unabated. Fannie (FNM) and Freddie (FRE) are knee deep in the muck and are tightening lending standards at the absolute wrong time in the cycle. Even with explicit government guarantees these guys are wrapped in...
  • Housing and Financials: The Worst May Soon Be Over
    Published Thu, Sep 04 2008 9:47 AM by Seeking Alpha
    Vahan Janjigian () submits: The latest (June) S&P/Case-Shiller figures provide a little (and I emphasize little) comfort that housing prices are bottoming out. With year-over-year prices down a record 15.92% on average in 20 major markets, that may...
  • Declines from Peaks in Housing Show Big Disparity
    Published Thu, Sep 04 2008 9:47 AM by Seeking Alpha
    Hickey and Walters () submit: Below we highlight the percentage difference between current median home prices and the max median home prices seen in each of the twenty cities that S&P/Case-Shiller tracks. As shown, there is quite a big difference...
  • Are Covered Bonds Really the Solution?
    Published Thu, Sep 04 2008 9:47 AM by Seeking Alpha
    submits: Last month, Hank Paulson, the US Treasury Secretary, was waxing prosaically about covered bonds and their benefits to mortgage markets. From his comments, one gets the impression he sees this a potential solution to preventing a future crisis...
  • Prime Foreclosures Now Greater Than Subprime
    Published Thu, Sep 04 2008 9:47 AM by Seeking Alpha
    submits: "" Those were the words of Jamie Dimon, CEO of JPMorgan Chase (JPM) when he had his . And, indeed, prime is terrible. New out from shows that there are now more prime mortgage delinquencies in the United States than there are subprime...
  • 'Seasonality' Not a Factor in June Case-Shiller Improvement
    Published Thu, Sep 04 2008 9:47 AM by Seeking Alpha
    submits: The bears dismissed Tuesday’s in the Case-Shiller Home Price Index as merely a reflection of the strength in home prices that typically occurs during the first half of the year--what one observer calls the annual “seasonal three-month...
  • FHA to Raise Upfront Premiums
    Published Thu, Sep 04 2008 9:47 AM by www.thetruthaboutmortgage.com
    The FHA announced Tuesday it was halting its risk-based pricing structure beginning October 1 in accordance with the new housing bill and raising its upfront premiums. Beginning October 1, FHA will charge an upfront premium of 1.75 percent for purchase...
  • Mortgage Applications See Mild Gain Thanks to FHA
    Published Thu, Sep 04 2008 9:47 AM by www.thetruthaboutmortgage.com
    Mortgage application volume finally edged up, albeit modestly, as FHA lending picked up the slack left behind by flagging purchase and refinance activity. The MBA’s Market Composite Index increased 0.5 percent on a seasonally adjusted basis for the week...
  • Hope Now Foreclosure Prevention Tops Two Million
    Published Thu, Sep 04 2008 9:47 AM by www.thetruthaboutmortgage.com
    Industry alliance Hope Now announced today that the total number of foreclosures prevented by mortgage servicers since July 2007 has risen to about 2.07 million. A total of 192,000 loan workouts were completed last month, a five percent increase from...
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