August 2009 - Around The Web

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The Depths of Mortgage Debt

Published Fri, Sep 04 2009 6:27 AM by www.nytimes.com

Homeowners are in better financial condition in New York, Connecticut and New Jersey than in many other parts of the country.
What Banks Are Really Doing With Foreclosures

Published Mon, Aug 31 2009 6:37 PM by CNBC

Posted By: There have been a lot of accusations on the blogs and on the air that banks are holding on to REO (bank-owned) foreclosed properties because they don't want to put them on the market and push home prices ever lower. In digging into this...
Loans Resetting Lower? Not So Fast

Published Mon, Aug 31 2009 6:36 PM by CNBC

Posted By: Yesterday, at one of the morning staff meetings, a CNBC producer told of how his son had an adjustable rate mortgage that actually, thanks to today's low interest rates, adjusted down, saving him hundreds of dollars on his monthly payment...
A first step for Fannie and Freddie

Published Mon, Aug 31 2009 6:35 PM by rss.cnn.com

Read full story for latest details.
A New CRE Trend: The Pop-up Shop

Published Mon, Aug 31 2009 6:34 PM by llenrock.com

The idea of “pop-up” stores is nothing new. These pop-up stores allow retailers to increase revenue during critical sales periods including the back-to-school, Halloween, and holiday shopping seasons, but without taking on the risk of a permanent location...
August Economic Summary in Graphs

Published Mon, Aug 31 2009 6:34 PM by Calculated Risk Blog

Here is a collection of real estate and economic graphs for data released in August ... Note: Click on graphs for larger image in new window. For more info, click on link below graph to original post. New Home Sales in July (NSA) The first graph shows...
Fitch: Credit Card Default Chargeoffs decline Slightly in July

Published Mon, Aug 31 2009 6:34 PM by Calculated Risk Blog

From Fitch: U.S. consumer credit quality showed signs of life as credit card ABS chargeoffs declined last month, snapping a string of five consecutive record highs, according to the latest Credit Card Index results from Fitch Ratings. ... 'We still...
Federal Reserve made $14 billion on turmoil loans: report

Published Mon, Aug 31 2009 6:03 PM by Reuters

LONDON (Reuters) - The Federal Reserve has made $14 billion in profits on loans made in the last two years, The Financial Times reported on Monday, citing officials close to the matter.
NY Fed’s Dudley: Too Soon to Pull Back Fed’s Debt Purchases

Published Mon, Aug 31 2009 3:43 PM by Wall Street Journal

It is too early to contemplate an end to the Federal Reserve ’s unconventional easing strategy, said William Dudley , president of the New York Federal Reserve Bank , in a television interview Monday. “My own personal view is, I think it’s a little premature...
Apartment Market Stalls, While Condos Show Movement

Published Mon, Aug 31 2009 1:24 PM by www.nahb.org

Press Release
Wake me up when September ends, many investors say

Published Mon, Aug 31 2009 1:23 PM by www.marketwatch.com

After a powerful rally in stocks from their March lows, nervous investors are positioning for a September sell-off -- something that many say is overdue.
The Connection Between Subprime and Wildfires

Published Mon, Aug 31 2009 1:23 PM by Seeking Alpha

submits: The current southern California wildfires are all too predictable. A combination of arid landscapes, hot weather and some source of ignition – usually people – and once again we have massive fires looming on the outskirts of Los Angeles.
The Fannie and Freddie Anomaly

Published Mon, Aug 31 2009 1:23 PM by wallstreetpit.com

Can anyone explain the stock prices of Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE), the two government-sponsored enterprises that are supporting our mortgage market? On Friday, Fannie’s common stock closed at $2.04 per share, up 250% since the start...
Bank Leverage: Forever Blowing Bubbles Part Two

Published Mon, Aug 31 2009 1:08 PM by feedproxy.google.com

You have heard me use the phrase “” to describe the increase in the price of riskier assets due to monetary stimulus. The Bloomberg News video clip below points to an increase in lending for buyers of riskier loans like high yield and mortgage bonds....
Experimenting with Negative Interest Rates

Published Mon, Aug 31 2009 1:08 PM by feedproxy.google.com

As the world's original central bank, it's fitting that Sweden's has become the first to breach the zero-bound line by lowering one of its key interest rates to negative 0.25% since July 8. The drop in the price of money below zero is the...
Chicago: A Renters' Market

Published Mon, Aug 31 2009 10:32 AM by Calculated Risk Blog

From the Chicago Tribune: More apartments are available in Chicago, and at prices that have slipped since the beginning of the year, creating a renter's market and allowing some consumers to trade up to better housing. ... according to a study scheduled...
Head Of China Sovereign Wealth Fund Openly Admits Asset Bubble Addressed By Creation Of More Bubbles

Published Mon, Aug 31 2009 10:32 AM by www.zerohedge.com

In a phenomenal demonstration of frankness and true economic assessment, the head of the China Investment Council, Lou Jiwei, who controls China's $298 billion sovereign wealth fund, : Both China and America are addressing bubbles by creating more...
Disney to Buy Marvel Entertainment for $4 Billion

Published Mon, Aug 31 2009 9:46 AM by CNBC

The Walt Disney says it is acquiring Marvel Entertainment for $4 billion in cash and stock, bringing characters like Iron Man and Spider-Man into the Disney family.
New York Fed announces $2.1 billion in Legacy CMBS TALF loans settled for August 20 facility

Published Mon, Aug 31 2009 9:46 AM by www.newyorkfed.org

New York Fed announces $2.1 billion in Legacy CMBS TALF loans settled for August 20 facility
FDIC risks $80 Billion in Loss Share Agreements

Published Mon, Aug 31 2009 8:38 AM by Calculated Risk Blog

Every Friday, in just about every bank failure press release, the FDIC mentions a loss share agreement with the acquiring bank. As an example, in the regarding Mutual Bank of Harvey, Illinois on July 31st: As of July 16, 2009, Mutual Bank had total assets...

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August 2009 - Around The Web

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