Category Archives: Risky Lending

Hair of the dog

Posted on January 25, 2008 by grim

From the Wall Street Journal: More Risk for Fannie, Freddie? One of the features of the economic stimulus package fashioned yesterday by Congress and the Bush administration would provide guarantees to more — and much larger — mortgages in an … Continue reading →

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

Looking for solutions

Posted on January 25, 2008 by grim

From the Trenton Times: Opening up about mortgage worries The South Clinton Avenue resident faced losing her home after falling behind on her mortgage payments. Last week, Marcia, with the help of the Neighborhood Assistance Corp. of America (NACA), a … Continue reading →

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

The next crisis?

Posted on January 24, 2008 by grim

From the NY Times: Next on the Worry List: Shaky Insurers of Bonds Even as stocks ended five days of losses with a surprising recovery on Wednesday, officials began moving to defuse another potential time bomb in the markets: the … Continue reading →

Posted in Economics, National Real Estate, Risky Lending | 12 Comments

Cheaper cash for the qualified borrower

Posted on January 23, 2008 by grim

From the Wall Street Journal: Regulators’ Conundrum: How Much to Encourage Lending By DAMIAN PALETTA January 23, 2008; Page A23 The global credit crunch has created a quandary for federal regulators: They want bankers to lend money, but they also … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | Comments Off on Cheaper cash for the qualified borrower

“But the market died.”

Posted on January 17, 2008 by grim

From BusinessWeek: The Home Equity Crisis Ahead Subprime mortgages have taken a lot of blame for banks’ big losses. But there’s another problem lurking behind the mess: home-equity lending. Buoyed by rising prices, borrowers increasingly tapped into the equity on … Continue reading →

Posted in National Real Estate, Risky Lending | 2 Comments

Underwriting “back in vogue”

Posted on January 17, 2008 by grim

From the Wall Street Journal: Prime Time: The New Boom In Refinancing By JEFF D. OPDYKE January 17, 2008; Page D1 Another mortgage-refinancing boom is under way. But this time around, many homeowners will be watching from the sidelines. For … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 18 Comments

Sound familiar?

Posted on January 16, 2008 by grim

From Bloomberg: Recession Theorists Confront Recession Reality: Caroline Baum The calendar flipped from 2007 to 2008, and just like that, the talk turned from if to when, how long and how deep. Recession, that is. Will it be short and … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 251 Comments

Foreclosures derail Trenton revitalization

Posted on January 14, 2008 by grim

From Reuters: Mayors face test of spreading foreclosures Mayor Douglas Palmer, meeting with visitors at City Hall, points to a large map peppered with dark dots. Each one represents a home or group of homes on the verge of foreclosure, … Continue reading →

Posted in New Jersey Real Estate, Politics, Risky Lending | 13 Comments

Recession in 2008?

Posted on January 11, 2008 by grim

From the Wall Street Journal: Odds of Recession Seen Rising Economists in Survey Predict Slower Growth, Unemployment Increase By PHIL IZZO January 11, 2008 Economists surveyed by The Wall Street Journal see increasing odds of a recession this year along … Continue reading →

Posted in Economics, National Real Estate, Risky Lending | 2 Comments

“I suspect there’ll be more to come”

Posted on January 11, 2008 by grim

From Bloomberg: Merrill Lynch to Take $15 Billion Mortgage Writedown, NYT Says Merrill Lynch & Co., the third- largest U.S. securities firm, may write down $15 billion related to U.S. mortgage losses, almost twice its original estimate, the New York … Continue reading →

Posted in Economics, National Real Estate, Risky Lending | Comments Off on “I suspect there’ll be more to come”

How Ameriquest bought NJ legislators

Posted on December 31, 2007 by grim

From the Wall Street Journal: Lender Lobbying Blitz Abetted Mortgage Mess Ameriquest Pressed For Changes in Laws; A Battle in New Jersey By GLENN R. SIMPSON December 31, 2007 During the housing boom, the subprime industry succeeded at more than … Continue reading →

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

A return to rational prices

Posted on December 26, 2007 by grim

From the New York Times: Frozen Rates, Falling Prices THE Bush administration’s mortgage rescue plan will worsen, not alleviate, the problems in the housing market. We are suffering from a home value crisis, not simply a credit crisis. If home … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 24 Comments

Who’s watching the henhouse?

Posted on December 26, 2007 by grim

From the Philly Inquirer: States, feds must impose tighter lending standards The Federal Reserve’s proposals last week to address deception and fraud in mortgage lending will all be for naught unless the states, the Fed, and other federal agencies tighten … Continue reading →

Posted in National Real Estate, Risky Lending | 3 Comments

“Lending is going to be tight for the next year or two”

Posted on December 26, 2007 by grim

From the Wall Street Journal: Profit Outlook Darkens for Big Banks By DAVID REILLY and DAVID ENRICH December 26, 2007; Page C1 For major banks, the next few years will be a return to a simpler and possibly less-profitable time. … Continue reading →

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

“Banks Stole Christmas.”

Posted on December 25, 2007 by grim

From the NY Daily News: Bank protesters say predatory loans threatening to make them homeless Gloria Knight hasn’t been able to heat her home to a comfortable temperature this winter. The 64-year-old Brooklyn woman also keeps her modest, three-bedroom house … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 27 Comments