November 2009 - Around The Web

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Bankruptcies Jump, Hitting Highest Level in Four Years

Published Wed, Nov 25 2009 5:59 PM by CNBC

Filings rose 33 percent in the third quarter to the highest number since 2005, government data show, as rising unemployment and tight credit made it more difficult for consumers and businesses to stay current on their debts.
Judge Voids Mortgage Due to Bank’s “Bad Faith”

Published Wed, Nov 25 2009 5:58 PM by feedproxy.google.com

“[The adjustable rate bank note issued Aug. 4, 2004 is' hereby canceled, voided, nullified, set aside and is of no further force and effect . . . the lender and its successors are barred, prohibited and foreclosed from attempting, in any manner, directly...
Ratio of Existing to New Home Sales

Published Wed, Nov 25 2009 5:57 PM by Calculated Risk Blog

Here is more on the "distressing gap" between existing and new home sales. The following graph shows the ratio of existing home sales divided by new home sales through October. Click on graph for larger image in new window. This ratio has increased...
Federal Reserve to run public service announcement with credit card tips for holiday shoppers

Published Wed, Nov 25 2009 5:56 PM by www.federalreserve.gov

Federal Reserve to run public service announcement with credit card tips for holiday shoppers
Fannie Mae: New Affordable Housing Options

Published Wed, Nov 25 2009 5:55 PM by Realtor.Org

The government-sponsored enterprise is seeking to promote home purchases by low-income buyers and owner occupants.
Tax Credit Quandaries Answered

Published Wed, Nov 25 2009 5:54 PM by Realtor.Org

Buyers are likely to have many questions about their eligibility for the extended and expanded tax credits. Here are some key features.
Citi Mortgage Reveals What Treasury Won't

Published Wed, Nov 25 2009 5:53 PM by CNBC

Citi Mortgage Reveals What Treasury Won't
HUD Lightens Up on FHA Second Appraisal Requirements

Published Wed, Nov 25 2009 5:52 PM by www.mortgageprocessor.org

Written By: Stacey Sprain, Certified Ambassador Loan Processor (CALP) which was issued November 18, 2009 communicates the immediate elimination of requirements for second appraisals on high balance loans in declining market areas. Second appraisals are...
Judge blasts bad bank, erases $525G debt

Published Wed, Nov 25 2009 5:50 PM by www.nypost.com

A Long Island couple is home free after an outraged judge gave them an amazing Thanksgiving present -- canceling their debt to ruthless bankers trying to toss them out on the street. ...
FHA, Fannie/Freddie Tell it Like it is (to them)

Published Wed, Nov 25 2009 1:53 PM by www.orep.org

by David Brauner, Editor The appraiser Valuation 2009 conference in New Orleans this month offered unprecedented access to key regulators, AMCs and other decision makers regarding the future of the appraisal industry- that’s the good news. The bad news...
FDIC Data Reflects Continued Economic Slump

Published Wed, Nov 25 2009 1:43 PM by Seeking Alpha

The Third Quarter FDIC Quarterly Banking Profile shows a deteriorating economy. Case-Shiller shows stability in home prices, but I project this to be just a pause. The Number of Problem Banks increased dramatically in the third quarter to 552 from 416...
Treasury On Mortgage Modifications

Published Wed, Nov 25 2009 1:42 PM by CNBC

A little follow up to my post yesterday. I knew I'd probably upset the folks at Treasury, and I did.
Housing Bottom? “Not Even Close”

Published Wed, Nov 25 2009 1:41 PM by feedproxy.google.com

> Source : Aaron Task Tech TIcker, Nov 24, 2009 http://finance.yahoo.com/tech-ticker/article/378885/Housing-Bottom-”Not-Even-Close”-Barry-Ritholtz-Says?
US Federal Tax Dollars Payments/Allotments by State

Published Wed, Nov 25 2009 1:40 PM by feedproxy.google.com

Via , we get this map showing the states that contribute the most in Federal tax dollars, and consumes the most in Federal Tax monies: > click for ginormous chart > Hat tip
A Case Study: To Default or Not?

Published Wed, Nov 25 2009 1:39 PM by llenrock.com

I recently bought a duplex both as an investment and as a place to live for the next few years. Because I intended to live there and it was less than four units, I was able to get a 96.5% loan to value, 30 year fixed rate 5.00% mortgage. I know, I was...
"Interest Rates at Center Stage"

Published Wed, Nov 25 2009 1:38 PM by feedproxy.google.com

Like Tim Duy in the post above this one, David Altig is also puzzled by analysts who, to quote from the highlighted in Tim's post, that "banks might seek to reduce appreciably their excess reserves as the economy improves by purchasing securities...
Changes in the Composition of Consumption

Published Wed, Nov 25 2009 1:38 PM by feedproxy.google.com

I was curious how the the composition of durable and nondurable goods consumption changes during recessions. This graph shows the monthly variation in the ratio of nondurable to durable consumption since 1959 (click on figures for larger versions): And...
Half of Bank Losses May Be Hidden, I.M.F. Chief Says

Published Wed, Nov 25 2009 1:38 PM by dealbook.blogs.nytimes.com

Half of the losses suffered by banks could still be hidden in their balance sheets, more so in Europe than in the United States, the International Monetary Fund's chief, Dominique Strauss-Kahn, told Le Figaro.
October PCE and Saving Rate

Published Wed, Nov 25 2009 11:15 AM by Calculated Risk Blog

From the BEA: Personal income increased $30.1 billion, or 0.2 percent, and disposable personal income (DPI) increased $45.7 billion, or 0.4 percent, in October, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased...
Weekly Initial Unemployment Claims Decline Sharply

Published Wed, Nov 25 2009 11:15 AM by Calculated Risk Blog

The DOL reports on weekly : In the week ending Nov. 21, the advance figure for seasonally adjusted initial claims was 466,000, a decrease of 35,000 from the previous week's revised figure of 501,000 [revised from 505,000]. The 4-week moving average...

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November 2009 - Around The Web

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