T2 Partners has a phenomenal series of charts on the housing crisis stating Why There Is More Pain To Come . The report is 69 pages almost all of them loaded with charts. I took a liberal selection below, adding plenty of comments, but please take a look at the original article for many additional charts...
Insurance companies that write Director and Officer's (D&O) and Errors and Omission (E&O) insurance are debating what the future holds in the way of class action litigation against their policy holders. Writing in Business Insurance , Dave Lenckus outlines the pros and cons of whether insurance companies...
Federal regulators are warning the world to get ready for the next wave of problems in the banking world. Up to now banks have been struggling to deal with the piles of delinquent debt from earlier subprime lending to homeowners and the dozens of federal, state, and lender originated programs being proposed...
Investigations into events surrounding the virtual collapse of the mortgage lending industry are expanding on a number of levels. Various investigative agencies have formed a task force to look into the granting of mortgages which may have been made with little proof of the borrowers' income or assets...
According to a report released by the International Monetary Fund (IMF) on Tuesday morning, total losses from the subprime meltdown could reach up to $945 billion on the back of fears of a deeper, more protracted crisis. "The risks to financial stability remain elevated" said the report, stressing a...
RealtyTrac, Inc., a company that tracks delinquencies and foreclosures was reporting Thursday that the number of foreclosure filings in November was 68 percent higher nationwide than those in November 2006. 201,950 foreclosure filings were reported last month; in November 2006 the figure was 120,334...
Another major American financial institution went on the international auction block Wednesday afternoon as Morgan Stanley announced it was accepting a $5 billion cash infusion from China Investment in return for a stake in the bank estimated to be as high as 9.9 percent. The Chinese company will be...
The U.S. House Judiciary signed off on Wednesday on a bill designed to help certain bankrupt homeowners stay in those homes. The highly controversial bill, which faces significant bi-partisan opposition on the floor, is yet another piece in a crazy-quilt of government and mortgage industry attempts to...
Citigroup was dominating the stock market on two fronts Monday as it took a long look at homebuilder stocks and found them wanting and then saw its own stock take a hit on the basis of its perceived short-term fortunes growing out of the sub prime mortgage market. Late Monday morning one of Citigroup...
New York State Attorney General Andrew Cuomo’s recently announced investigation of eAppraiselT , a division of First American reverberated throughout financial markets on Wednesday, contributing to a 361 point loss on Wall Street. The huge sell-off was helped along by a gloomy forecast by Washington...