From NMP:
Mortgage Delinquency Rates Continue to Shrink
The total balance of seriously delinquent first mortgages–defined as 90 days past due or in foreclosure–was $198.8 billion in November, a decrease of more than 29.8 percent year-over-year and the lowest level in more than five years, according to the latest National Consumer Credit Trends Report issued by Atlanta-based Equifax.
Equifax also found that delinquent first mortgages–defined as those 30 days or more past due – represented 4.54 percent of outstanding balances in November, a decrease from 5.87 percent from the same time a year ago. Total balances on home equity installment loans was $139.9 billion in November, a decrease of 15.9 percent from the same time a year ago, while the total number of loans outstanding dropped to 4.6 million;
Equifax also reported that total balances outstanding on home equity lines of credit (HELOCs) in November was $515.4 billion, down 3.6 percent from same time a year ago; the current level represents a five-year low. The total number of HELOCs outstanding fell to 11.1 million, the lowest total in 10 years, Equifax added.
Delinquent balances–defined as 30 days or more past due–on HELOCs represented 2.37 percent of outstanding balances in November, down from 2.70 percent a year ago, while delinquent balances on home equity installment loans fell 0.77 percentage points from November 2013 to 2.45 percent last month.
The latest Equifax data mirrors similar projections released last week by Chicago-based TransUnion, which stated the national mortgage loan delinquency rate–defined as the ratio of borrowers 60 or more days past due–is projected to decline to 3.12 percent by the end of this year and 2.51 percent by the end of 2015, marking the lowest level since hitting 2.61 percent in the third quarter of 2007, prior to the Great Recession. TransUnion recorded the mortgage delinquency rate at 3.36 percent at the end of the third quarter of this year.
National mortgage delinquency peaked at 6.93% in Q1 2010. Since that peak, the delinquency rate has dropped almost every quarter, with minor bumps occurring in Q3 and Q4 2011.
…
“While we project that delinquencies will approach pre-recession levels, it should be noted that they will likely remain above the historic norm of 1.5 to two percent; mortgage delinquency was rising even before the official ‘start’ of the recession,” Chaouki stated. “It is also important to note that the housing environment is far different now than it was when we last observed rates this low. Regulatory requirements and scrutiny, recent home value appreciation and consumers’ prioritization of payments have all changed the landscape of consumer mortgage lending.”
Zero Hedge went from “peak oil” to “peak demand” in only a few months
What, no latke croissant mash up yet? Latkant? Crotke? Latke short-rib tacos? Sweet potato and coconut latke maybe? I am wholly unimpressed at the lack of creativity here. Poutine? Really? Go back to Canada Frenchie.
The lead article is from nationalmortgageprofessional.com ? Isn’t that part of the oxymoron.com network?
[2] grim
“Sweet potato and coconut latke maybe?”
I think you are onto something here.
This rivals Beslan in depravity.
http://www.cnn.com/2014/12/16/world/asia/pakistan-peshawar-school-attack/index.html?hpt=hp_t1
And yet nary a tweet . . . .
This one is for Joyce. Apologies if you are already all over it, Joyce.
http://www.cnn.com/2014/12/16/justice/walmart-shooting-john-crawford/index.html?hpt=hp_c2
Some interesting tax tables, but they might make you cry in NJ:
http://taxfoundation.org/sites/taxfoundation.org/files/docs/Facts%20and%20Figures%202014.pdf
I had to chuckle at first when I read the Alabama State Individual Income Tax Brackets, but in hindsight, NJ would do a lot better if they did the same thing:
AL
2% > $0
4% > $500
5% > $3,000
NJ
1.40% >$0
1.75% > $20,000
3.50% > $35,000
5.52% > $40,000
6.37% > $75,000
8.97% > $500,000
Westwood Lighting Company Shutting Down Laying Off 100 http://www.northjersey.com/news/business/westwood-lighting-products-maker-shutting-down-laying-off-102-1.1154234
I’d try the poutine latkes. One of the travesties of calling New York an international city (“Capitol of the World”, Giuliani has quoted the Pope as saying) is that you can’t get a decent poutine ANYWHERE. Dirty Jersey ‘Disco fries’ just doesn’t cut it.
https://www.youtube.com/watch?v=cgZDON-ghtk
https://www.facebook.com/LePetitPoutine
P.S.- She has to use vegetable gravy to keep it Kosher…
Another one for Joyce…
http://news.yahoo.com/video/charges-dropped-against-san-bernardino-161328338.html
what, no one found this one yet?
Texas Cop Nathanial Robinson Uses Stun Gun On Elderly Man Over Inspection Sticker
(read article to find out cop was wrong about the car & sticker)
http://www.huffingtonpost.com/2014/12/14/texas-cop-stun-gun-76-year-old_n_6324804.html
or this one
Albuquerque policeman’s gun goes off, accidentally hits bystander
http://www.reuters.com/article/2014/12/16/us-usa-police-albuquerque-idUSKBN0JT2JX20141216
I would have put the comma in a different place. “Albuquerque policeman’s gun goes off accidentally, hits bystander”
Just how many laws does joe public break if he did that? Or should I say, how many laws would he be charged with?
Joyce [11];
Remember that cops and ex-cops get a pass on firearms restrictions because they are so much better that mere civilians.
Nom, #5… I think this is worse than Beslan. However, in case of Beslan, the guy was arrested and brought to trial. It was also an outlier in the “all terrorists are Muslim” narrative.
I hope that this event will turn a majority of Pakistanis against the Taliban, though chances are unlikely. They (along with USA) supported this extremism (which hit India badly after the Russians were defeated). At least after 9/11, US media has not been pro-extremists, and I hope they won’t jump on that bandwagon again if things worsen with China or Russia. However, major powers in Pakistan still get to use it to their advantage (I am sure there will be some politician that will blame it on India or even the US).
India has been at the receiving end of invasions and extremism for so long. In fact, an overwhelming majority in Pakistan are descendants of people that were forcefully converted to Islam after mass-slaughter – at various times in the last few hundred years – and some of them harbor hatred towards India. It is quite bizarre.
Who knows, in hundred years or so, if the Pope and his successors keep preaching about the poor and needy, the oil magnets from Saudi Arabia will team up with the oil magnets from Texas and banksters from NYC to create Islamic televangelism. Who knows, descendants of ours may be very much fine with it, or even the ones that pull the strings.
Joe Citizen would have the system used against him to imprison him without being convicted of a crime.
‘It shocks the conscience’ – N.J. man unable to use arms remains jailed for 4 months on gun charge
http://www.nj.com/mercer/index.ssf/2014/12/trenton_man_charged_with_gun_possession_despite_having_no_use_of_his_arms.html#incart_river
A Salem man who has no use of his arms due to a spinal condition has remained jailed on a gun possession charge in Mercer County for four months despite pleas from his attorney that he should be released without bail.
“It shocks the conscience,” Caroline Turner, the attorney for Marcus Hubbard, 28, said Tuesday during a bail hearing. “How could held for four months on a gun charge? He cannot move his arms. They are useless to him.”
It’s almost like the associates degree, scoring low-middle on the entrance exam, and knowing someone well-connected in the area gives you super powers.
16
““The police reports do seem to confirm this defendant has no use of his hands but I would disagree that that doesn’t mean necessarily that he can’t be guilty of a crime,” said Assistant Prosecutor William Fisher.”
what an @sshole. sure he can be guilty of a crime, but not this one.
Toxic,
The article is a bit of a red meat to SJW crowd. Since there is a small chance that he could “indirectly exercise control of the firearm through other persons”, what do you think a reasonable bail amount should be? Of course, if he had the initial 100k handy, he’d be out of bail right away — or the reduced 35k bail. He seems to be also hospitalized in protective custody.
“It shocks the conscience” really? What would be the corresponding phrase for major tragedies?
Granted this is from wikipedia, but i thought the choice of words is hilarious. I googled what constructive possession was, and it was described as a legal fiction that etc etc…
“A legal fiction is a fact assumed or created by courts[1] which is then used in order to apply a legal rule which was not necessarily designed to be used in that way.”
nice
I’m not going to speak for him, but I think the tragedy is the fact that he was charged in the first place.
McDullard says:
December 16, 2014 at 1:41 pm
Toxic,
The article is a bit of a red meat to SJW crowd. Since there is a small chance that he could “indirectly exercise control of the firearm through other persons”, what do you think a reasonable bail amount should be? Of course, if he had the initial 100k handy, he’d be out of bail right away — or the reduced 35k bail. He seems to be also hospitalized in protective custody.
“It shocks the conscience” really? What would be the corresponding phrase for major tragedies?
(17) Joyce
While I don’t dispute your general assessment of the average police officer, I suspect most of their “victims” are cut from a similar mold. (I’m not suggesting this justifies any abuses, I’m just saying the average “victim” would probably be well counseled on how to react in situations that are governed by power-asymmetry. Rule #1: Recognize that you are not in a position of strength and a confrontation with an average police officer isn’t the time and place to debate their judgement.)
Petty criminals are the best. All of a sudden they think they are constitutional scholars. Most would be better served by accepting an appearance ticket rather than escalating an encounter in the hopes of some sort of legal loophole to save the day.
“It’s almost like the associates degree, scoring low-middle on the entrance exam, and knowing someone well-connected in the area gives you super powers.”
so, all those “cut from a similar mold” should remember the rules of engagement obeyed by their ancestors during slavery?
clotluva says:
December 16, 2014 at 2:16 pm
(17) Joyce
While I don’t dispute your general assessment of the average police officer, I suspect most of their “victims” are cut from a similar mold. (I’m not suggesting this justifies any abuses, I’m just saying the average “victim” would probably be well counseled on how to react in situations that are governed by power-asymmetry. Rule #1: Recognize that you are not in a position of strength and a confrontation with an average police officer isn’t the time and place to debate their judgement
Joyce #21,
What would be a good approach in this case? A stolen gun in car with four people. Everyone says it’s not theirs. Leave out the weakest? Lower everyone’s charges? What to do when the weakest one has prior convictions? It looks like a complex situation — is the search illegal?
Anon,
Sorry, I don’t follow. What are you trying to say?
You should check out Daniel Goleman’s work on emotional intelligence. Also, Bertrand Russell has a lesser known book titled “Power” that talks about innate tendencies in all humans to desire power – and interestingly attributes most of the deleterious side effects to various insecurities.
I want you to know the disdain in my response is not directed at you.
“What would be a good approach?”
How about some actual detective work.
“A stolen gun in car with four people. Everyone says it’s not theirs. Leave out the weakest? Lower everyone’s charges?”
Admittedly, I can’t keep up with all of the draconian laws passed by in this state and country… but I didn’t know it was against the law to be near a hand gun. Legal fictions aside, I don’t know if it ever was this way in practice, but the criminal justice system was supposed to err on the side of caution rather than just charge everyone with every conceivable offense (see original article).
“is the search illegal?”
Not sure in this case.
http://www.nj.com/mercer/index.ssf/2014/08/traffic_violation_in_trenton_nets_four_arrests_after_gun_stolen_from_alaska_found_in_car.html
From the original article, it says the police were collecting ID’s from everyone in the car. Why? And that the police saw a gun in the seatback pocket. Unless these were very stupid people (possible), I doubt the gun was in plain view. So who knows what really happened.
McDullard says:
December 16, 2014 at 2:42 pm
Joyce #21,
What would be a good approach in this case? A stolen gun in car with four people. Everyone says it’s not theirs. Leave out the weakest? Lower everyone’s charges? What to do when the weakest one has prior convictions? It looks like a complex situation — is the search illegal?
Agreed. I’ve always argued the problems stem from the power asymmetry. In a recent Supreme Court case, they once again said that even when wrong from the get-go… police are right. I’m paraphrasing of course, but this is similar to the nonsense that you can be charged and convicted of resisting arrest when the police officer didn’t have ground to make the arrest.
http://washington.cbslocal.com/2014/12/15/court-traffic-stop-ok-despite-mistake-of-law/
clotluva says:
December 16, 2014 at 2:16 pm
(17) Joyce
While I don’t dispute your general assessment of the average police officer, I suspect most of their “victims” are cut from a similar mold. (I’m not suggesting this justifies any abuses, I’m just saying the average “victim” would probably be well counseled on how to react in situations that are governed by power-asymmetry. Rule #1: Recognize that you are not in a position of strength and a confrontation with an average police officer isn’t the time and place to debate their judgement.)
Petty criminals are the best. All of a sudden they think they are constitutional scholars. Most would be better served by accepting an appearance ticket rather than escalating an encounter in the hopes of some sort of legal loophole to save the day.
“It’s almost like the associates degree, scoring low-middle on the entrance exam, and knowing someone well-connected in the area gives you super powers.”
A good attorney is the difference in sentencing. We have seen the same crime committed but Biff gets probation and Bubba gets 5 years. If Bubba played in the NFL/NBA and can afford a good attorney, he could get probation as well.
Nothing to do with interaction between the person and law enforcement. Well that’s if they don’t shot you.
Is there an MLS system in Moscow that we can point gary at? Do they have blue ribbony train towns in Russia?
Like I said yesterday, the future is not too bright for “cops”.
Either the libertarian/tax cutters is going to start nipping at their heels and the nice bennies are going away sooner than later.
An example is Governor Cartman who change the rules – now 30 yrs to retirement with pension/health insurance vs 25 yrs previously.
Or the integrity issue of the officer and its department will create problems.
The public sees the integrity issue one way, within the honor code of acting under the color of law and the rule of law.
The criminal world sees it differently. If you are crooked, even a bit and you are using the “color of law” you are one of them.
The sadder and worse outcome is the “bad” guys are going to get nastier. I offer the view that the Narcos are starting to see these Asset Forfeiture hunts in the highways as theft and will react accordingly. In Mexico, they run heavily armed multi-car running into the dozens constantly communicating “transport” teams, they are even know to use frequency jammers so only they can communicate. If a key vehicle gets stopped, the other one “rescue it” by killing everyone and burning everything.
The Mob did plenty of hits on cops that were not playing by the rules. Look up Serpico, and how even in the present day the NYPD still resents him.
#24 – If it is truly a stolen gun, and no one in the car is the owner, aren’t they all telling the truth by definition?
What would be a good approach in this case? A stolen gun in car with four people. Everyone says it’s not theirs.
(27) Joyce
From the article you linked:
“The Supreme Court agreed, finding that the Fourth Amendment requires police to act reasonably, but not perfectly.”
Overall it doesn’t seem much different than vehicle registration checkpoints that result in arrests for DUI (or DUI checkpoints themselves). Can’t say I object to those. Heck, if the guy in the Supreme Court case was busted for having someone I knew tied up in the trunk rather than a couple kilos of drugs, quite frankly I wouldn’t care why they got pulled over and I wouldn’t want him going free on a technicality.
I wonder if the guy in this case would have bothered to turn himself into a constitutional scholar had the officer just dumped his drugs into a ditch and sent him on his way.
Imagine adults who lived through this being told by the media that we need to keep home prices stable and rising and that high oil prices are bad for the economy. Further, imagine you retired in 1971 with a $9K per year life pension. Looked pretty good then…turned to crap in no time.
US Prices 1972
Cost of a new home: $30,500.00
Median Household Income: $9,697.00
Cost of a first-class stamp: $0.10
Cost of a gallon of regular gas: $0.36
US Prices 1979
Cost of a new home: $71,800.00
Median Household Income: $16,461.00
Cost of a first-class stamp: $0.15
Cost of a gallon of regular gas: $0.86
My opinion is diametrically opposed to yours so I believe this ends our discussion on this topic ;-) Until tomorrow.
clotluva says:
December 16, 2014 at 3:51 pm
(27) Joyce
From the article you linked:
“The Supreme Court agreed, finding that the Fourth Amendment requires police to act reasonably, but not perfectly.”
Overall it doesn’t seem much different than vehicle registration checkpoints that result in arrests for DUI (or DUI checkpoints themselves). Can’t say I object to those. Heck, if the guy in the Supreme Court case was busted for having someone I knew tied up in the trunk rather than a couple kilos of drugs, quite frankly I wouldn’t care why they got pulled over and I wouldn’t want him going free on a technicality.
I wonder if the guy in this case would have bothered to turn himself into a constitutional scholar had the officer just dumped his drugs into a ditch and sent him on his way.
Occasionally I see cars in such ridiculous disrepair driving around with minority occupants that I wonder if one of the passengers is an ACLU lawyer out baiting the cops.
OTOH, I think I get reverse profiled. The last couple encounters I’ve had with cops while driving they never even asked for my paperwork.
Neidermeyer’s character in Animal House was modeled after him.
http://fortressamerica.gawker.com/texas-a-m-may-rename-academic-building-for-d-student-ri-1671868141
[37] FKA
The left is having a field day with his transcript, but look at the courses he took. Perry took real courses in a real major. I know plenty of smart folks who struggled or cratered with courses like that. I wouldn’t have dared to take some of those courses.
I defy anyone to find me the OWS camper who took comparable courses and did better.
[31] expat
” If it is truly a stolen gun, and no one in the car is the owner, aren’t they all telling the truth by definition?”
Yes, as to not being the owner. But it says nothing about whether they stole it.
[38] Comrade Nom Deplume
Both sides like to throw out character assignation pieces. Some like to take it too far that its laughable but both sides have the nuts that will happily run with the torch.
[40]FKA – I agree. All that assigning gets tiresome.
Both sides like to throw out character assignation pieces.
Russian surplus ammo ought to be dirt cheap soon if it isn’t already. AR/AK hybrid guns already being offered by manufacturers that chamber 7.62×39
All politicians are stupid. The desire to seek office signifies a brain disorder that probably prevents one from being able to focus on things of substance, kinda like a narcissistic version of ADHD. Why are we surprised at Perry?
Besides, all military skools have the “gentleman’s C”. Cooperate and graduate.
Personally, I think Perry is smarter than W. By a hair.
This is like comparing Ronald Reagan to Chauncey Gardner.
http://www.wsj.com/articles/elevators-set-to-take-new-direction-1418757074?mod=WSJ_hpp_MIDDLENexttoWhatsNewsForth
By LINDSAY GELLMAN
iStock Photo
The Class of 2015 may be entering the real world with something college graduates haven’t seen in a while: a cash cushion.
Fifty-one percent of employers say they plan to offer signing bonuses to the students they’ll hire from the class of 2015—more than to any class in five years, according to a survey from the National Association of Colleges and Employers.
Most of those giving signing bonuses plan to offer them to business, engineering or computer-science majors. Chemical engineering majors are expected to receive the largest average signing bonuses at $5,250, followed by engineering majors without a sub-specialization at $5,107 and computer-science majors at $4,364. Employers plan to hire 8.3% more 2015 college grads in the U.S. than last year, according to NACE. The group will release more salary data in early 2015.
The upticks in hiring and signing bonuses, as well as in global pay, bode well for companies—and job seekers of all ages—in 2015.
Food and beverage makers represent the industry most inclined to offer signing bonuses to this year’s college grads. And companies in the Midwest are most likely to give new grads a little something extra; 54.7% of employers in the region are expected to do so, followed by Southeast employers (54.2%), Northeast employers (51.1%) and West employers (39.5%).
As for 2015 graduates of masters programs, M.B.A.s top the list with expected average signing bonuses of $20,250.
http://blogs.wsj.com/atwork/2014/12/16/signing-bonuses-are-coming-for-the-class-of-2015/?mod=WSJ_article_EditorsPicks_2
Here comes the wage inflation troll.
[40] FKA
Many of those torch runners are in the blogosphere, which is filling the void left by the death of old media but without their sometime zeal for actual truth.
So many of these new media types fancy themselves modern day Jean Paul Marats. Or if they aren’t looking for the association, they still practice the same yellow journalism. Of course, it didn’t work out so well for Marat, and I am looking forward to some of these Kos or Huffpost Marat-wannabes getting offed.
Since the internet went mainstream (mid 90s) quality journalism of all types has taken a nosedive.
One would think with all the editing and formatting software available and easy world wide reach to sources it would be better than ever! Just the opposite.
Glad I changed my major to IT as – adjusted for inflation – wages in the field are stuck in the 70s and that’s IF one can get a gig doing it full-time.
I think my son is going to be a welder. NO BS. Strictly skill/ability. Can’t outsource or automate that (custom work outside of mainstream manufacturing). A friend from highschool is a multi-millionaire semi-retired welder. Turns down good paying work all the time (and they are willing to bring it to him!) especially the last 5 years.
I’ll be my boy’s business manager.
Speaking of quality journalism, Rolling Stone just took another broadside
http://www.cnn.com/2014/12/16/us/uva-rape/index.html?hpt=hp_c2
This case is unraveling faster than the Duke Lacrosse case. If I were “Jackie” I’d go dark. Not that this will help since the new revelations make her look psycho.
Bueller? Bueller?
Witness 40, one of the witnesses who’se “eyewitness” testimony most strongly supports Darren Wilson’s account, is know to be a liar and perjurer to the police. She is also Bipolar and has a history of becoming involved in high profile cases in the area. Oh yeah, she’s known to have racist outbursts.
Discuss
“Witness 40”: Exposing A Fraud In Ferguson
TSG probe unmasks grand jury witness who spun fabricated tale
http://thesmokinggun.com/documents/unmasking-Ferguson-witness-40-496236
[53] I’m surprised the mainstream media hasn’t picked up on this. Now we just need somebody to really investigate and find out how she manufactured all the physical evidence to support her concocted story.
Referred to only as “Witness 40” in grand jury material, the woman concocted a story that is now baked into the narrative of the Ferguson grand jury, a panel before which she had no business appearing.
[53] And the kill shot through the top of Brown’s head – Wilson probably told Brown to freeze with his hands up while Wilson retrieved a step ladder from the back of his SUV.
^^^ I also wonder how he kept him standing next to the step ladder for two shots, as the penultimate gunshot entered his forehead and ended up in his lower jaw.
Wow… Was flipping stations on the radio this morning and heard Matt Taibi is back at Rolling Stone magazine. I couldn’t imagine a better pairing.
I think this sums up all of the post above.
https://www.youtube.com/watch?feature=player_embedded&v=AYohyfNC1rs
The only thing that made me feel slightly sorry for Brown was the number of pre-existing scars on his body. According to the autopsy reports about 20 of them.
Actually related to RE
Wednesday, December 17th, 2014
Congress Shoots Down FHA Mortgage Program
December 15th, 2014 By Peter G. Miller
FHA Mortgages — Hawk ProgramFHA mortgage borrowers and American homeowners will have fewer opportunities for success in the coming year as a result of the newly-minted 2015 budget bill. You won’t see such a headline anywhere but if you check page 1,560 of the just-approved federal budget you will find language which shows how Washington really works.
“SEC. 235. None of the funds made available by this Act nor any receipts or amounts collected under any Federal Housing Administration program may be used to implement the Homeowners Armed with Knowledge (HAWK) program.”
Wow. Somebody on Capital Hill sure doesn’t like the HAWK program. It must do terrible things. Maybe it spreads Ebola or helps ISIS.
Oh wait, the HAWK program simply makes it easier for first-time homebuyers to get an FHA mortgage — and that means more demand and perhaps higher prices for American home sellers.
What The FHA HAWK Program Does
Scheduled to start in 2015, the HAWK program says if you are a first-time buyer and will take a homeowner class and make your mortgage payments on a full and timely basis for a few years the FHA will slash the insurance premiums it charges. For most borrowers this will mean a savings of about $325 a year and nearly $10,000 over the life of the loan.
This is not a giveaway. Having better-educated borrowers and borrowers who make proper payments means fewer claims against the FHA, something which saves money and results in fewer foreclosures. Fewer losses also opens the possibility of lower FHA mortgage insurance premiums, something that would surely stimulate home sales.
Perhaps some representative was confused and thought they were putting an end to the Global Hawk drone program. After all, both “Global Hawk” and the “Homeowners Armed with Knowledge (HAWK) program” contain the word “hawk,” so you can see how this could happen.
Congress Loves Banks — And Derivatives
Congress had no trouble at all passing legislation which will allow big banks to trade derivatives and keep the profits. The same legislation effectively says taxpayers will have to clean up any losses. The notational value of outstanding derivatives held by US banks was $236.8 trillion as of mid 2014.
That’s trillion — not billion. We’re looking at the biggest potential bail-out since Noah grabbed a bucket.
Of course, no worries. Accounts always balance out. There’s no possibility of a loss. Well, maybe sometimes. Just think of the $6.2 billion London Whale incident. Or the $4.4 billion lost by Long-Term Capital Management.
Taxpayers and Self-Interest
Where’s your self-interest? If more first-time buyers enter the housing market doesn’t that mean the value of your home is more likely to go up? And if big banks can swap derivatives and have losses that require a taxpayer bailout out how do you benefit? Does the value of your home increase? Does America create more jobs? Does your household income go up?
Just how much money did you make from derivatives trading last year? Oops, household incomes are lower today then in 1999. You remember, that’s 15 years ago.
Here are three facts you might like to know:
According to Ellie Mae 19 percent of all closed mortgages in October were insured by the FHA. Who benefits if we make the FHA program less appealing?
First-time buyers were responsible for 29 percent of all existing home purchases made in October according to the National Association of Realtors. That’s down from the traditional level, about 40 percent. If we do not have more first-time buyers coming into the market then who will buy your existing home? How will you move up or move out? How will you get a higher price? NAR also says that “despite an improving job market and low interest rates, the share of first-time buyers fell to its lowest point in nearly three decades and is preventing a healthier housing market from reaching its full potential.”
“Americans’ job approval rating for Congress averaged 15% in 2014, close to the record-low yearly average of 14% found last year,” according to a Gallup survey released this morning. “The highest yearly average was measured in 2001, at 56%. Yearly averages haven’t exceeded 20% in the past five years, as well as in six of the past seven years.”
Will the final budget that goes to the President contain the anti-FHA language and the swap legislation? Think of it this way: How many lobbyists and how much PAC money are behind the swap provision? Now ask yourself: How many lobbyists and how much PAC money represents mortgage borrowers and the average American homeowner? Just ask your representative or senator….
Why couldn’t Brown have been shot in the top of the head as he fell? Was it not one of the last shots fired?
The Original NJ ExPat says:
December 17, 2014 at 9:09 am
[53] And the kill shot through the top of Brown’s head – Wilson probably told Brown to freeze with his hands up while Wilson retrieved a step ladder from the back of his SUV.
Dec 16 (Reuters) – A former bond trader was sentenced to 2-1/2 years in prison Tuesday after admitting to manipulating prices of mortgage debt, causing a $9 million loss at a unit of Bank of New York Mellon Corp.
Douglas Green, 50, was also ordered by U.S. District Judge Freda Wolfson in Trenton, New Jersey, to pay $9.2 million in restitution after pleading guilty in 2011 to one count of securities fraud, U.S. Attorney Paul Fishman said in a statement.
Prosecutors said the Boca Raton, Florida, resident in 2004 began trying to hide significant trading losses by entering fraudulent transactions for an account he managed at broker-dealer Crocker Securities LLC.
The fraudulent transactions inflated prices of collateralized mortgage obligations to correspond with losses in the Crocker account, authorities said.
Prosecutors said Green entered fake CMO sales into the trading system of BNY Mellon’s Pershing LLC clearing unit, which handled Crocker trades and related record-keeping, and then canceled them shortly before the settlement dates.
Green also used a network of bond traders to buy CMOs and sell them back to him at slightly higher prices, prosecutors said.
The collapse of the scheme forced Jersey City, New Jersey-based Pershing to liquidate the CMOs in the Crocker account at a loss, prosecutors said.
Green’s lawyer had no immediate comment, and a spokesman for BNY Mellon did not immediately responded to a request for comment.
The case is U.S. v. Green, U.S. District Court, District of New Jersey, No. 11-cr-00207. (Reporting by Nate Raymond in New York; Editing by Lisa Von Ahn)
Mercedes Benz is either leaving NJ or angling for the same kind of tax breaks that Subaru received.
http://www.nj.com/business/index.ssf/2014/12/german_automaker_could_bolt_nj_for_the_south_report_says.html#incart_river
He most certainly could have been shot in the top of the head as he fell. I would be inclined to believe that it it’s very probable that a shot through the forehead, which goes down through one’s eyeball and ends up in one’s lower jaw might make one fall. You can say what you want about witness testimony, but physical evidence doesn’t lie. Shell casings and blood on the ground and autopsy results all prove that Brown was shot only from in front and that both Brown and Wilson were on the move with Wilson back-pedaling and Brown moving towards Wilson. Maybe it went like this:
Wilson: “Hands up and turn around. Good. Now here’s what we’re going to do. I’m going to shoot you twice, you will then take three steps toward me and stop. I will then shoot you two more times and we’re just going to repeat that a couple times until you fall forward and then I’m going to shoot you twice in the head as you finally fall forward. Those are going to be the toughest shots for me, because those will be the only shots I’m taking while you’re moving, but I’ve been practicing at the range, so I think I have this. We should be able to wrap this up in about 22 feet. Oh one more thing, when you do fall dead on your face could you please try to kick both feet up in the air so we can fool some of those witnesses over there into thinking you were charging me at speed? Great. Let’s get started.”
Why couldn’t Brown have been shot in the top of the head as he fell? Was it not one of the last shots fired?
Seriously do you really NEED to have a home that you would be willing to accept a rate of 9%?
For McKnight-Baron, a plastic surgeon in Atlanta, the subprime loan was a lifesaver. She received a 30-year loan at a fixed rate of 9 percent, which is more than double the current rate offered for conventional loans but well below the usurious loans widely seen prior to the 2008 mortgage meltdown, in which subprime rates often exceeded 15 percent.
http://america.aljazeera.com/articles/2014/12/17/subprime-lendingisback.html
The Big Short II: Why High LTV Canadian Mortgages Are The New Subprime
“In 2006, hedge fund manager John Paulson realized something few others suspected – that the housing market and the value of subprime mortgages were grossly inflated and headed for a major fall. Colleagues at investment banks scoffed at him and investors dismissed him. In the summer of 2007, the markets began to implode, by year’s end, John Paulson had pulled off the greatest trade in financial history, earning more than $15 billion for his firm – a figure that dwarfed George Soros’s billion-dollar currency trade in 1992.”
– The Greatest Trade Ever by Gregory Zuckerman
http://seekingalpha.com/article/2758705-the-big-short-ii-why-high-ltv-canadian-mortgages-are-the-new-subprime
It’s not your father’s party any longer. Years ago, most of us would have been democrats. The current democrat party is littered with f.ucked-up mental m1dgets.
http://www.bloomberg.com/politics/articles/2014-12-17/selfidentified-democrats-growing-scarcer-poll-finds?cmpid=yhoo
#67
How many people do you know with a modicum of common sense would participate in something known as a “die in”?
Not many that I know who would actually do it, or for that matter, even associate with anyone who would.
I’ve been a registered Democrat all my adult life. It’s been over 25 years since I voted that way, though (with the rare exception of some local pols). I’m pretty sure my parents are still Democrats too, but I don’t think they vote the Dem ticket either. Now if just half of all republicans would just switch to Democrat we could rig the Dem primaries to put less viable Dem candidates in the general election.
The Democrat party seems to be self-selecting for those with inferior math skills.
It’s not your father’s party any longer. Years ago, most of us would have been democrats. The current democrat party is littered with f.ucked-up mental m1dgets.
I’m not sure if he still has it, but a friend from HS used to advertise himself as “Fiercely Liberal” circa 2008 or so. I remember thinking at that time that it just seemed unfair that you could never call yourself “Fiercely Conservative” back then without instantly being branded a racist.
The moral of the Ferguson story is to be sure that (a) the perp is dead because dead perps can’t contradict you and (b) the police find a weapon at the scene that can’t be traced back to you and it has the perp’s fingerprints on it .
This is good news. Really.
http://www.cnbc.com/id/102277025?trknav=homestack:topnews:15
[51] redux,
” If I were “Jackie” I’d go dark. Not that this will help since the new revelations make her look psycho.”
Boy, am I ever behind the curve. That horse left the barn long ago. Search it for yourself. I feel for the kid, I really do, and I feel even more for her if they i.d’ed the wrong Jackie.
Idiot journalist should have changed the name and a few details, or simply left them redacted.
“Obamas on Race: We’ve Been Treated Like the Help”
https://gma.yahoo.com/obamas-race-weve-treated-help-120214087–abc-news-topstories.html
Long overdue. No need to smuggle cigars into the country anymore.
the U.S. will allow licensed American travelers to import $400 worth of goods, but no more than $100 of which can be tobacco products and alcohol. These products will not allowed to be resold.
http://www.marketwatch.com/story/you-can-now-import-100-worth-of-cuban-cigars-rum-legally-2014-12-17
[75] eddie,
I would never treat the Obamas like the help. Because they are nothing like the help.
The help actually help me. They do what I ask and I pay them voluntarily, and happily if they did a good job.
The Obamas? Not so much.
I remember a discussion here where we pondered what happened to our used vehicles after we sold them or traded them in for new vehicles.
http://www.theblaze.com/stories/2014/12/17/syrian-jihadists-are-using-a-texas-plumbers-truck-to-shoot-down-aircraft-heres-how-they-got-their-hands-on-the-vehicle/
hey guys dropping by to leave this here, hope all is well swamped at work have been lurking nothing to add
https://autos.yahoo.com/news/rumor-mercedes-benz-u-headquarters-155004116.html
Republicans becoming even more racists
THE WALL STREET JOURNAL
WSJ/NBC Poll: Mood Brightens on Economy, Not Race
America’s long-standing pessimism about the economy is showing signs of waning, but the nation’s view of race relations has turned more dour, with just 40% of Americans believing race relations in the U.S. are good, a new WSJ/NBC poll shows.
Americans end the year with a hopeful view of some aspects of their lives and more pessimistic views of the state of the nation. Falling gasoline prices have had a positive impact on many families, about half of Americans say, and expectations that the economy will improve, while still muted, are higher than at any point since mid-2013.
FKA [76];
I remember some ~10 years ago J&R Cigars selling what can only be called “Personal Cuban Cigar Licenses”. For some three-digit sum of money, you got the right to be among the first X number of their customers to buy Cuban cigars from them when the embargo broke.
Me? I’ll get them the next day, and have that much more money for the cigars themselves.
Con’t [81];
Here we go:
http://www.forbes.com/global/2001/0219/036.html
I just discovered that I’m “cisgender”. Born that way I guess. I suspect there are many “cisgenders” on the board.
Painhrtz,
The shocking news to me is that still had a North American HQ in NJ.
Leaving NJ makes perfect sense.
One more bullet to for Republican opponents to shoot at a certain fat target in the republican primaries, assuming he’s dumb enough to run for president.
C Christie is a worn out joke, getting lamer by the day.
[83] ragnar,
check your privilege! After all, they are “unearned”. This says so:
http://itspronouncedmetrosexual.com/2011/11/list-of-cisgender-privileges/
(there’s a small part of me that wishes for Clot’s dystopian vision to happen because if we are in a WROL situation, there’s some SJWs I’m planning to hunt).
This Sony hack has legs….
Theaters Decide Not to Show Sony’s ‘Interview’
The largest theater chains in the U.S. have decided not to play Sony Pictures’ controversial comedy “The Interview” on its planned Dec. 25 opening, said two people with knowledge of the matter.
The theater chains, including Regal Entertainment Group , AMC Entertainment Holdings Inc., Cinemark Holdings Inc. and Carmike Cinemas Inc., won’t play the film until the conclusion of federal authorities’ investigation into the three-week-old cyberattack on Sony Pictures and subsequent terrorist threats, one of the people said.
http://www.wsj.com/articles/largest-theater-chains-wont-show-sony-film-1418844906
Nom you would be better off hunting squirrels probably more challenging. They won’t make past the first week of a Clot level event.
Big round of applause!
http://www.nytimes.com/2014/12/18/nyregion/cuomo-to-ban-fracking-in-new-york-state-citing-health-risks.html?_r=0
[88] Fabian
Yeah, it takes a big man to close the barn door after the horse has bolted. I’m sure I can count the projects affected on one hand and have fingers left over.
[87] pain
They would go dark and You’d have to hunt them on their own turf, but I think I can bag a few. Will get expat to stalk the local ones for me. He’s good at sleuthing this stuff out.
This video is the vile progeny of clot, jj & nom……yeech….
http://nypost.com/2014/12/17/gronk-padma-lakshmi-talking-sausage-got-real-awkward/
I guess you can throw grim in there too…..Polish sausage angle…
Fabu [88];
Sure, why would upstate New York want any kind of economic growth? They might use some of that money to stand up an opposition candidate to a run-of-the-mill, second generation nepotism baby, beholden to downstate leftists.
Cuomo’s comments through time, especially around Superstorm Sandy, cast a pall of being bought off….
Moose: that is so insightful, I hadn’t ever though of it that way, but it makes complete sense……
though = thought
So basically, they are letting the N.Korean hackers win.
I’m thinking of going to see that movie now, just show solidarity against the commies.
The trailer also looked kinda funny.
Not as funny as the Team America sequence with Kim singing “I’m so ronery”
https://www.youtube.com/watch?v=UEaKX9YYHiQ
Comrade,
Thanks for the link. I also just discovered what an SJW is. Interesting that this is now a thing. Like libtards, but even more whiny and totalitarian.
BTW, Perry’s transcript looked about the same as my Rutgers transcript. The only difference is I had a few more “F”s and didn’t graduate after 4 years of switching majors. One year later I transferred what credits I could and started my “cume” over again. 3 semesters and one usmmer later I was an engineer graduating with a 3.52. Don’t hate the playa, hate the game.
Summer, that is.
Best part – debt free. Some Pell Grants and other college grant/scholarship money, but no loans. I wish current graduates A.) Either worked the system or worked their ass off and B.)Knew how cool it was to suddenly have a real income and no debts. Clean slate. Get an apartment, get a car, get a life. It was the best of times.
Gonna smoke me some Bolivars and Cohibas.
Kids are really in trouble these days. When I graduated college I had $300 rent, utilities included, and a land line phone with a bill of under $20 per month. No debts, no credit. $1600 of net pay and $320 of rent and phone bills before gas and car insurance. I was on my own with a significant positive cash flow. No wonder it was so easy to save money.
@ozchrisrock:
Obama.
Ends 2 wars.
Gas prices $2.
Makes peace with Cuba.
Gets people health insurance.
Unemployment lowest in yrs.
Get him on Mt Rushmore!
@AFP_NewJersey: #FORWARD! 1 in 5 Millennials Live in Poverty, Census Bureau Says http://t.co/rYiJjTljBO #tcot
#104
“Get him on Mt Rushmore!”
Is that gonna be in another Planet of the Apes remake?
#103
“Kids are really in trouble these days. When I graduated college I had $300 rent, utilities included, and a land line phone with a bill of under $20 per month. No debts, no credit. $1600 of net pay and $320 of rent and phone bills before gas and car insurance. I was on my own with a significant positive cash flow. No wonder it was so easy to save money.”
Those were the days my friends….
The only negative later on was when I applied for my first mortgage. I had no credit score because I’d paid everything cash!
Move to block pilgrim pipeline through NJ which would carry Baaken shale oil to Linden
http://www.nj.com/politics/index.ssf/2014/12/senators_launch_effort_to_block_oil_pipeline_through_seven_nj_counties.html
I guess people would rather buy Saudi Oil. Our politicians seem to like their money.
I like Moose’s NY State analysis of Cuomo……explains Obama too…..shale oil = Republican money…..
Still waiting for Oblamer’s college transcripts. Why hasn’t that one leaked given what a genius for the ages he allegedly is?
Gonna smoke me some Romeos and Davidoffs.
Bitch, make me a Cuban sandwich and mix me a Mojito.
[91] chifi
Wow, I’m guessing Padma really wanted some Polish sausage. Given Gronk’s love of kittens, I’m thinking Padma wanted Gronk to see her puss, er, cat.