Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 5, 2009, 12:47 pm
Americans now own Fannie Mae and Freddie Mac, the combined $5.2 trillion, heavily politicized housing finance companies nationalized in the fall of 2008, bringing to taxpayers large sums of subprime, ... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 5, 2009, 12:44 pm
"International Group Inc., the bailed-out insurer with a $355 billion fixed-income portfolio, may report gains from the rally in corporate bonds and mortgage-backed securities in the third quarter." Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 5, 2009, 12:37 pm
The dispute began in November 2008 when The Mortgage Specialists Inc (MSI) won a temporary injunction requesting that a confidential document, "2007 Loan Chart," be removed from Implode-Explode's ... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 5, 2009, 12:28 pm
Fannie Mae (NYSE: FNM) is implementing the Deed for Lease(TM) Program under which qualifying homeowners facing foreclosure will be able to remain in their homes by signing a lease in connection with t... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 5, 2009, 12:15 pm
Attorney General Richard Cordray said his office filed suit Thursday in the Cuyahoga County Court of Common Pleas in Cleveland against American Home Mortgage Servicing Inc., which has more than 12,000... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 5, 2009, 11:55 am
Fannie Mae said the delinquency rate on loans in its single-family guarantee business rose 0.28 percentage points to 4.45 percent in August, the latest month Fannie has data for, well above 1.57 perce... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 5, 2009, 11:30 am
Any person performing loan modifications is prohibited from charging or collecting an advance fee until they have performed "each and every service the person contracted to perform". "Each and every s... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 5, 2009, 11:01 am
“The trial courts order violates basic principles the 1st amendment, of the US constitution and essentially tramples on the rights both of implode explode both to speak, and to publish and to speak,... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 5, 2009, 10:47 am
The government-controlled company, through its new "Deed for Lease" program, will allow borrowers to transfer ownership to Fannie Mae and sign a one-year lease, with month-to-month extensions after th... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 5, 2009, 9:59 am
" We are hearing that discussion of breaking up large financial institutions that pose systemic risk to the market is gaining traction on the Hill. At this point, discussions are in the early stages, ... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 3, 2009, 10:40 am
"On Feb. 5, 1988, President Ronald Reagan signed reverse mortgage insurance legislation, and it became the task of the U.S. Department of Housing & Urban Development (HUD) to create a marketable produ... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 3, 2009, 9:29 am
" American International Group Inc., recipient of a $182.3 billion U.S. government bailout, will release third-quarter results this week without a conference call for analysts and investors." Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 3, 2009, 9:27 am
"Royal Bank of Scotland Group Plc and Lloyds Banking Group Plc will receive 31.3 billion pounds ($51 billion) in a second bailout from the U.K. taxpayer as the two banks agreed to cap bonuses." Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 3, 2009, 9:16 am
" The New York Times has lifted the lid on how Al Gore stands to benefit to the tune of billions of dollars if the carbon tax proposals he is pushing come to fruition in the United States, while docum... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 3, 2009, 9:07 am
" I remember seeing data showing that once central banks start raising rates, they continue to do so for months. They do not raise rates one month, then lower them the next and then reverse course. Do... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 3, 2009, 8:59 am
"William Black, professor at the University of Missouri-Kansas City School of Law is dumbfounded. "We put ourselves on the hook in a completely inept way where we lose first. We lose entirely as the ... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 3, 2009, 7:30 am
" More ammo for the housing bears here: Despite the dips in both the Case-Shiller and FHFA Home Price Indices, houses still aren't affordable based on historical price/income ratios." Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 3, 2009, 7:29 am
" Independent mortgage bankers and subsidiaries of banks, thrifts, and hedge funds saw an average profit of $1,358 on each loan they originated in the second quarter, according to a report released by... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 2, 2009, 12:04 pm
" Manufacturing in the U.S. expanded in October at the fastest pace in more than three years, a sign that factories will be the main drivers of the economic recovery in coming months." Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 2, 2009, 12:03 pm
" - Ford Motor Co., the only major U.S. automaker to avoid bankruptcy, posted third-quarter net income of $997 million and its first operating profit since early 2008 on smaller discounts and higher s... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 2, 2009, 11:53 am
" The rate of defaults and late payments on real estate loans sold as commercial mortgage-backed securities surged more than fivefold in the third quarter and may worsen with the potential default of ... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 2, 2009, 11:50 am
Demand for new homes is growing faster in the Washington area than in any other major U.S. city as existing inventory shrinks and a record $3.52 trillion federal budget fuels the local economy.
Bu... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 2, 2009, 11:45 am
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Many buyers accelerated purchases of new homes to take advantage of the $8,000 tax credit before it expires Nov. 30. Foreclosure-driven price declines and low mortgage rates have also pushed sales... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 2, 2009, 11:43 am
" Finding a job in this challenging economic climate is a pitched battle, not the sort of adrenaline-fueled forays that members of the Elkhart-based Indiana National Guard’s 1538th Transportation Co... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 2, 2009, 9:55 am
"Clorox Co.’s earnings rose 23% for its fiscal first quarter on improved profit margins and increased sales of disinfecting products caused in part by concerns over the H1N1 flu virus. " Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 2, 2009, 9:48 am
" President Obama often states that the federal budget cannot be balanced without health insurance reform. Even if that were true, the real crisis that exists already and will only worsen over time co... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 2, 2009, 9:39 am
"Citigroup’s total liquidity as of Sept. 30 was $450.3 billion, or 24 percent of assets, up from 16 percent in June 2008. The shift was reflected in the bank’s third-quarter results, when interest... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Nov 2, 2009, 9:33 am
" The credit card reform bill tries to help cash-strapped customers, but companies are coming up with new ways to boost profits." Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 28, 2009, 9:15 am
"As Bank of America's board of directors approaches a self-imposed deadline at the end of this week to pick a successor to outgoing CEO Ken Lewis, it's finding few willing takers outside the b... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 28, 2009, 9:10 am
" A bombshell article in today’s edition of the New York Times lifts the lid on how the brother of Afghan President Hamid Karzai, a suspected kingpin of the country’s booming opium trade, has been... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 28, 2009, 2:56 am
" But why the bluff? Why did Goldman have to pretend it was not concerned at all about AIG, even as the phone records show they were involved in intense and continuing discussions at the highest level... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 28, 2009, 2:51 am
" U.S. Senate leaders moved closer to an agreement replacing an expiring $8,000 tax credit for first- time homebuyers with a smaller one that would expand access to so-called step-up purchasers, two p... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 28, 2009, 2:36 am
" Lee Adler discusses what’s wrong and what’s right with the Conference Board Consumer Confidence Index, aka the Concon Con, and the Case Shiller Housing Index, otherwise know as the Housing Case ... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 27, 2009, 6:16 pm
Employees of Stockton Turner & Company (view snapshot) received a memo on 2009-09-29 announcing that the company would be closing its doors the following day... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 27, 2009, 5:55 pm
There appears to be a split of opinion among lawyers about whether or not they can avoid the application of the advance fee prohibition as it is defined by unbundling their services and essentially of... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 27, 2009, 4:36 pm
After less than a week of private negotiations with the banks, the New York Fed instructed AIG to pay them par, or 100 cents on the dollar. The content of its deliberations has never been made public.... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 27, 2009, 3:57 pm
" The Washington Post and the AP, along with scores of other blogs, have inflated comments made by Grayson last month on the Alex Jones show when he referred to the Federal Reserve’s newly employed ... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 27, 2009, 3:50 pm
" While today’s Case/Shiller Index numbers (home prices rose slightly from July to August, even as they're still down 11.3% compared to August 2008) are interpreted as positive by the obvious su... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 24, 2009, 12:36 pm
``Today, Congress is struggling to produce the tiniest shards of regulation that would at least give the appearance of doing something to rein in the Street... The politicians who put off Wall Street ... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 23, 2009, 4:50 pm
" It is well known that during the nation’s gale-force recession, many older Americans who dreamed of retirement continued to work, often because their 401(k)’s had plunged in value. In fact, ther... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 23, 2009, 3:53 pm
" In their class-action lawsuit against Freddie Mac, three big union-based pension funds charge that Freddie Mac executives defrauded investors by concealing the company’s exposure to high-risk mor... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 23, 2009, 12:46 pm
Japan has gone through two lost decades, in and out of deflation, with nothing to show for it but increasing debt to GDP and a stock market still 70% below its peak.
Now, Richard Koo of Nomura Res... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 23, 2009, 12:42 pm
" I have reason to suspect that the "monetary transmission mechanism" is full of rocks (again), and we are about to have another instance of what could colloquially be called "fun." (Yes, that's s... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 23, 2009, 12:34 pm
Senator Joyce insisted yesterday that the dangers to the global economy from the run-up in US private and public sector debt were real and should be debated.
''It is the elephant in the ro... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 23, 2009, 12:28 pm
" - Home resales in September clocked the largest monthly increase in 26 years as buyers scrambled to complete their purchases before a tax credit for first-time owners expires." Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 23, 2009, 9:28 am
" Citibank's average yield year-to-date (consumer and plastic) was about 12%. But they're suffering 10% defaults, making their true margin about 2%. That's still a positive number.... if... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 23, 2009, 9:11 am
" Government subsidies have created artificial demand for refi's and new housing, effectively "borrowing" from future demand. As interest rates start picking up in early 2010, demand could falter.... Comment - Like
Randall M. posted an article on
The Mortgage Lender Implode-O-Meter
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Oct 23, 2009, 8:25 am
" It is absurd to think the government or anyone else owes farmers a profit anymore than computer consulting corporations or real estate agencies are owed a profit." Comment - Like
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