Category Archives: Risky Lending

Watching the watchers

Posted on July 21, 2008 by grim

From the WSJ: FDIC Faces Mortgage Mess After Running Failed Bank Subprime Lender Made Problem Loans On Regulators’ Watch By MARK MAREMONT July 21, 2008; Page A1 Federal officials heap much of the blame for the subprime mortgage mess on … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 397 Comments

So much for being responsible…

Posted on May 12, 2008 by grim

From the Wall Street Journal: The Biggest Housing Losers May 12, 2008 You may not know it, dear reader, but Congress is playing you for a sap. During the housing mania, you didn’t lend money at teaser rates to borrowers … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 353 Comments

Why rescue underwater borrowers?

Posted on May 8, 2008 by grim

From the WSJ: Keeping Families Above Water May 8, 2008; Page A2 The latest flash point in the debate over the nation’s bursting housing bubble is this: Since so many American houses are worth less than their mortgages, should the … Continue reading →

Posted in Housing Bubble, New Development, Risky Lending | 297 Comments

Bernanke begs for a bailout

Posted on May 6, 2008 by grim

From Bloomberg: Bernanke Urges Action to Slow Jump in U.S. Home Foreclosures Federal Reserve Chairman Ben S. Bernanke, seeking to end the worst housing slump in a quarter century, urged the government and mortgage lenders to intensify their efforts to … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 280 Comments

Getting harder to borrow

Posted on May 6, 2008 by grim

From the Wall Street Journal: Banks Toughen Terms on Loans Both Consumers And Businesses Feel the Impact By SUDEEP REDDY May 6, 2008; Page A3 In a blow to an already wobbly U.S. economy, banks are imposing tougher lending terms … Continue reading →

Posted in National Real Estate, Risky Lending | Comments Off on Getting harder to borrow

NJ Judiciary barely treading water

Posted on May 1, 2008 by grim

From the NJ Judiciary: Testimony by Judge Philip S. Carchman Acting Administrative Director of the Courts Senate Budget and Appropriations Committee Fiscal Year 2009 Wednesday, April 30, 2008 Economic indicators tell us that by the end of this court year, … Continue reading →

Posted in Economics, New Jersey Real Estate, Risky Lending | 1 Comment

Zell: “This country needs a cleansing”

Posted on April 29, 2008 by grim

From Bloomberg: U.S. Foreclosure Filings Double in First Quarter U.S. foreclosure filings more than doubled in the first quarter as payments rose for subprime adjustable mortgages and falling home prices left property owners unable to sell or refinance without losing … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 8 Comments

“People just don’t know what to do”

Posted on April 28, 2008 by grim

From the Bridgeton News: Mortgage payments in trouble Housing foreclosure rates are rising quickly throughout Cumberland County, with rates in Bridgeton, Millville and Vineland already surpassing the national average, according to representatives at the Tri-County Community Action Agency and Affordable … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate, Risky Lending | 239 Comments

Too big to fail

Posted on April 21, 2008 by grim

From CNN/Money: The trillion-dollar mortgage time bomb Among the nightmares lurking around the corner for the already battered housing and credit markets would be a meltdown at mortgage financing giants Fannie Mae and Freddie Mac. Although few are predicting an … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 290 Comments

An Honest Mistake

Posted on April 11, 2008 by grim

From the WSJ: RATING GAME As Housing Boomed, Moody’s Opened Up By AARON LUCCHETTI April 11, 2008; Page A1 Bond-rating agency Moody’s Investors Service used to be an ivory tower of finance. Analysts were discouraged from having a drink with … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 2 Comments

Philly Fed: Not so different here

Posted on March 24, 2008 by grim

From Reuters: Mid-Atlantic banks face more loan losses-report Big Mid-Atlantic banks face more losses from the real estate slump, according to a report on Monday from a regional Federal Reserve that suggests the worst has not passed for the beleaguered … Continue reading →

Posted in New Development, New Jersey Real Estate, Risky Lending | Comments Off on Philly Fed: Not so different here

February foreclosures up 60%

Posted on March 13, 2008 by grim

From CNN/Money: Foreclosures up 60% in February Foreclosure filings nationwide jumped 60% in February compared with the same month last year, but they decreased slightly versus January, according to a report released Thursday. RealtyTrac, an online marketer of foreclosure properties, … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | Comments Off on February foreclosures up 60%

Home equity loan losses soar

Posted on March 12, 2008 by grim

From the Wall Street Journal: Latest Trouble Spot for Banks: Souring Home-Equity Loans Losses May Hit Lenders That Skirted Subprime; Surprise Delinquents By ROBIN SIDEL March 12, 2008; Page C1 Here comes another headache for banks suffering from the mortgage … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | Comments Off on Home equity loan losses soar

“One-third of people who are delinquent should be in foreclosure. It’s the best alternative.”

Posted on March 10, 2008 by grim

From USA Today: Mortgage lenders see more borrowers give up On the front lines in the mortgage foreclosure crisis, lender and loan servicer Dennis Lauria says his deepest losses are from borrowers who owe more than their homes are worth … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 2 Comments

“If you don’t sell to us, who are you going to sell to?”

Posted on March 5, 2008 by grim

From the Wall Street Journal: Blacklisting Hits Home Sellers By DAWN WOTAPKA and MARSHALL ECKBLAD March 5, 2008; Page B5A In the nation’s worst-hit real-estate markets, home sellers are suffering a new blow: They are being blacklisted by lenders. As … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 383 Comments