April 2009 - Around The Web

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Rep Frank sees banks TARP-free in a year

Published Tue, Apr 28 2009 2:15 PM by www.washingtonpost.com

WASHINGTON (Reuters) - The U.S. banking system could be free of government money within a year, the powerful chairman of the U.S. House of Representatives Financial Services Committee said on Tuesday.
The CRA and Subprime Lending: Discerning the Difference

Published Tue, Apr 28 2009 2:14 PM by dallasfed.org

The Community Reinvestment Act (CRA) has been under much scrutiny amid the subprime lending bust. Critics of the CRA contend that the law pushed banking institutions to undertake high-risk mortgage lending. A Federal Reserve Board staff analysis finds...
New Fed plan will help with 2nd mortgages, home equity loans

Published Tue, Apr 28 2009 2:14 PM by feedproxy.google.com

. Under this program, the government will pay mortgage servicers $500 upfront and $250 a year for three years if they successfully modify a second mortgage, such as a home equity loan. The Treasury Department says second mortgages are a major problem...
90,000 NYC Apartments At Risk of Foreclosure

Published Tue, Apr 28 2009 2:14 PM by www.thetruthaboutmortgage.com

Up to 90,000 apartment units in New York City face the prospect of going into foreclosure, according to remarks from the commissioner of the Department of Housing Preservation Development. Commissioner Rafael Cestero told the City Council Community Development...
Details of Obama Administration's Second Lien Modification Program

Published Tue, Apr 28 2009 1:26 PM by US Treasury

The Obama Administration today announced details of new efforts to help bring relief to responsible homeowners under the Making Home Affordable Program, including an effort to achieve greater affordability for homeowners by lowering payments on their second mortgages as well as a set of measures to help underwater borrowers stay in their homes.
Money market rates continue to fall

Published Tue, Apr 28 2009 11:46 AM by www.ft.com

Money market rates have fallen sharply since the start of April month amid increasing signs that banks are starting to lend to each other. Three-month sterling interbank rates, for example, have fallen for 44 days in a row
Help on Second Mortgages to Be Unveiled by US

Published Tue, Apr 28 2009 11:23 AM by CNBC

Posted By: The Obama administration is expected to unveil measures to help homeowners and businesses modify second mortgages as well as primary ones. Topics: | | | | | | | Sectors: | MEDIA:
In Dubai, Defaults Hit Developers

Published Tue, Apr 28 2009 11:23 AM by online.wsj.com

Developers in Dubai are scrambling to prevent a wave of investor defaults as they struggle to survive the city-state's real-estate bust.
WSJ: Regulators urge BofA, Citi to boost capital

Published Tue, Apr 28 2009 11:23 AM by www.washingtonpost.com

WASHINGTON -- Bank of America Corp. and Citigroup Inc., which have each received $45 billion in government bailout funds, have been told by regulators that "stress test" results show they may need to raise additional capital, The Wall Street...
Treasury has new mortgage incentives: official

Published Tue, Apr 28 2009 10:59 AM by Reuters

WASHINGTON (Reuters) - The U.S. Treasury Department will on Tuesday tap a $50 billion housing rescue fund to pay off mortgage investors and reduce monthly payments for millions of borrowers, said a senior administration official.
Deutsche Bank back in black

Published Tue, Apr 28 2009 10:59 AM by www.ft.com

Better trading for many of the German bank's most important debt businesses helped it lift first-quarter net income to €1.2bn, above analysts' expectations
US Regulators Tell Citi, BofA to Increase Capital

Published Tue, Apr 28 2009 10:59 AM by CNBC
What the Fed is considering at this week's meeting

Published Mon, Apr 27 2009 7:49 PM by Reuters

CHICAGO (Reuters) - The Federal Reserve meets this week at a time when the U.S. economy has shown some signs of improvement, and the central bank is likely to restate its support for boosting the economy through both conventional and unorthodox means...
When Countries Go to Zero

Published Mon, Apr 27 2009 5:26 PM by Seeking Alpha

submits: I just had coffee with Mohamed El-Erian, who pointed out to me that he didn’t actually push the PPIP plan, as I he did. He just said that the government needed a plan to deal with toxic assets, and that some plans made a lot more sense than others...
Statement for Treasury Borrowing Advisory Committee

Published Mon, Apr 27 2009 5:26 PM by US Treasury

April 27, 2009 TG-105 Director of the Office of Macroeconomic Analysis Ralph M. Monaco Statement for the Treasury Borrowing Advisory Committee of the Securities Industry and Financial Markets Association April 27, 2009 U.S.economic activity contracted...
U.S. Homeownership by Age Group

Published Mon, Apr 27 2009 4:20 PM by Calculated Risk Blog

The on the homeownership rate prompted several questions about what happens when the boomers retire? Click on graph for larger image in new window. This graph shows the homeownership by age group for three different time periods: 1985, 2000, and 2007...
Biggest Types of Personal Debt in the US

Published Mon, Apr 27 2009 4:20 PM by CNBC
Treasury Announces Marketable Borrowing Estimates for 2Q

Published Mon, Apr 27 2009 3:16 PM by US Treasury

The U.S. Department of the Treasury today announced its current estimates of marketable borrowing for the April - June 2009 and July – September 2009 quarters...
FDIC Chief’s Speech Could Put Bankers, Regulators on Notice

Published Mon, Apr 27 2009 3:02 PM by Wall Street Journal

Federal Deposit Insurance Corp. Chairman Sheila Bair Monday that might ruffle the feathers of other regulators and top executives at big banks, as she suggested her agency would be best suited to handle broad new powers being considered by Capitol Hill...
Personal Finance Daily: You can't get income rewards without taking risks

Published Mon, Apr 27 2009 3:02 PM by www.marketwatch.com

If you want safety for your money, don't expect to get much in return for your deposits other than a secure vault. The average 30-day yield on retail money-market funds that invest in Treasurys -- the safest of the safe -- are hovering around 0.05...

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April 2009 - Around The Web

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