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September 2009 - Around The Web



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  • FHFA Refinance Report Underscores Impact of Interest Rates on Refinance Volumes
    Published Sun, Oct 04 2009 1:48 PM by www.fhfa.gov
    September 29, 2009: FHFA Refinance Report Underscores Impact of Interest Rates on Refinance Volumes
  • New Additions to Truth in Lending
    Published Thu, Oct 01 2009 8:17 AM by CNBC
    Posted By: Back in July the Federal Reserve agreed on a new set of consumer protections in the home mortgage market. The new rules apply to all lenders and add four key protections for a "newly defined category" of higher priced mortgage loans...
  • Home Price Gains Are Seasonal and Federally Fueled
    Published Thu, Oct 01 2009 8:17 AM by CNBC
    Posted By: Today's headlines from the folks at S&P/Case Shiller are not untrue, they're just not the whole picture. Yes, home prices, in most areas (and by no means everywhere) are no longer in freefall. Some local markets have hit bottom...
  • What Do August Home Sales Numbers Really Mean?
    Published Thu, Oct 01 2009 8:17 AM by CNBC
    Posted By: Now that we have new and existing home sales in, I want to point out a couple of facts that got lost in all the paperwork. Topics: | | Sectors: |
  • OCC and OTS: Modification Re-Default Rates
    Published Wed, Sep 30 2009 5:53 PM by Calculated Risk Blog
    Here is some more data from the Office of the Comptroller of the Currency and the Office of Thrift Supervision: Modified Loan Performance ... [T]he percentage of loans that were 60 or more days delinquent or in the process of foreclosure rose steadily...
  • BofA CEO Ken Lewis to Step Down By the End of This Year
    Published Wed, Sep 30 2009 5:52 PM by CNBC
    Bank of America CEO Ken Lewis told the board he plans to step down by the end of the year. Lewis wasn't asked to step down and the decision was not the result of any regulatory action, sources told CNBC. No successor has been named yet.
  • No Way Has Housing Bottomed, Says David Levy
    Published Wed, Sep 30 2009 5:52 PM by feedproxy.google.com
    Bulls are beside themselves about the recent performance of the Case Shiller house-price index: Prices have risen for three straight months! This happy (if short) string of data has given rise to the widespread belief that the housing bust is over, that...
  • Treasury launches first toxic asset funds
    Published Wed, Sep 30 2009 5:52 PM by rss.cnn.com
    Read full story for latest details.
  • Fed to Appeal Ruling That Calls for Identifying Borrowers
    Published Wed, Sep 30 2009 5:35 PM by Wall Street Journal
    The U.S. Federal Reserve on Wednesday said it will appeal a court ruling that ordered it to identify borrowers using its emergency lending programs, and it requested an emergency stay of the ruling until the case is resolved. Fed Chairman Ben Bernanke...
  • Restaurants: 24th Consecutive Month of Contraction
    Published Wed, Sep 30 2009 4:13 PM by Calculated Risk Blog
    Note: Any reading below 100 shows contraction for this index. From the National Restaurant Association (NRA): Restaurant industry performance softened in August, as the National Restaurant Association’s comprehensive index of restaurant activity posted...
  • OCC and OTS: Foreclosures, Delinquencies increase in Q2
    Published Wed, Sep 30 2009 2:24 PM by Calculated Risk Blog
    From the Office of the Comptroller of the Currency and the Office of Thrift Supervision: This OCC and OTS Mortgage Metrics Report for the second quarter of 2009 provides performance data on first lien residential mortgages serviced by national banks and...
  • OCC and OTS Release Mortgage Metrics Report for Second Quarter 2009
    Published Wed, Sep 30 2009 12:51 PM by US Treasury
    The latest OCC and OTS Mortgage Metrics Report showed that difficult economic conditions resulted in higher rates of mortgage delinquencies and foreclosures in process, which increased to 8.5 percent and 2.9 percent of all serviced mortgages, respectively, but as the Administration’s “Making Home Affordable” program got underway during the quarter, efforts to assist homeowners and avoid loss were also on the rise....
  • BofA, Wells Fargo, JPM, Citigroup FDIC Fees May Top $10 Billion
    Published Wed, Sep 30 2009 8:57 AM by feedproxy.google.com
    The FDIC is struggling mightily to stay solvent. Given that there are bank failures every Friday, it's no easy feat for the FDIC to stay ahead of the game. Please consider . The Federal Deposit Insurance Corp.’s plan to rebuild its reserves may cost...
  • Survey: Home Purchase Market by Homebuyer Category
    Published Wed, Sep 30 2009 8:44 AM by Calculated Risk Blog
    Here is some national data on the types of homebuyers in August. This is from a survey by Campbell Communications (excerpted with permission). Source: Tracking Real Estate Market Conditions, a whitepaper regarding the Campbell/Inside Mortgage Finance...
  • Report: CIT Preparing Plan to Hand Control to Bondholders
    Published Wed, Sep 30 2009 8:43 AM by Calculated Risk Blog
    From the WSJ: CIT is preparing a sweeping exchange offer that would eliminate 30% to 40% of its more than $30 billion in outstanding debt ... The plan would offer bondholders new debt secured by CIT assets, as well as nearly all of the equity in a restructured...
  • House Prices: Stress Test and Price-to-Rent
    Published Wed, Sep 30 2009 8:42 AM by Calculated Risk Blog
    This following graph compares the Case-Shiller Composite 10 SA index with the Stress Test scenarios from the Treasury (stress test data is estimated from quarterly forecasts). The Stress Test scenarios use the Composite 10 index and start in December...
  • WSJ Preps for an FHA / Ginnie Mae Bailout
    Published Wed, Sep 30 2009 8:42 AM by Seeking Alpha
    submits: One place to start is the Federal Housing Administration, the nation’s insurer of nearly $750 billion in outstanding mortgages. The agency acknowledged this month that a new but still undisclosed HUD audit has found that FHA’s cash reserve fund...
  • It's Time to Call a Housing Bottom
    Published Wed, Sep 30 2009 8:42 AM by Seeking Alpha
    submits: The Case Shiller Home Price has risen for the past three months. In fact, it rose at a 15% annual rate over the past three months, and the August value of the index was higher than it was last February. In real terms, the index has fallen almost...
  • Tax Revenue Tumbles: Change in Receipts, by State
    Published Tue, Sep 29 2009 3:41 PM by Wall Street Journal
    State tax revenues tumbled in the second quarter from year-earlier levels, as the recession pummeled consumers leading to lower income and sales taxes. Vermont was the only state that managed to eke out a gain from 2008. . The total level of taxes across...
  • Board proposes rules amending credit card provisions of Regulation Z (Truth in Lending)
    Published Tue, Sep 29 2009 2:39 PM by www.federalreserve.gov
    Board proposes rules amending credit card provisions of Regulation Z (Truth in Lending)
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