Category Archives: Risky Lending

Anyone surprised?

Posted on August 29, 2013 by grim

LISTEN UP! Clear your calendars now, I don’t care what you committed to. Today – 6:30 PM — Montecristo Lounge at J&R Cigars, 301 Route 10 East, Whippany, NJ 07981 No excuses. ———————————— From the Washington Post: Regulators relax proposed … Continue reading →

Posted in Foreclosures, Politics, Risky Lending | 48 Comments

Why a private mortgage market might not be a good idea

Posted on August 13, 2013 by grim

From the NYT: In one bundle of mortgages, the subprime crisis reverberates A subprime deal came back to haunt Fabrice Tourre, a former Goldman Sachs trader, when a federal jury in Manhattan found him liable for civil securities fraud. He … Continue reading →

Posted in Foreclosures, Housing Bubble, Mortgages, Risky Lending | 247 Comments

Subprime sausage machine proposed to replace Freddie & Fannie

Posted on August 8, 2013 by grim

At what point did we all forget the “Private Mortgage Market” was the machine that brought on the subprime crisis? Folks, this is the same machine that perfected the NINJA loan (No Income, No Job, No Assets), and whose financial … Continue reading →

Posted in Mortgages, Risky Lending | 106 Comments

Are we sure eliminating F&F is the best approach to reforming mortgage finance?

Posted on August 6, 2013 by grim

From Reuters: Obama to back mortgage finance reform to speed housing recovery President Barack Obama will propose overhauling the U.S. mortgage finance system in a speech on Tuesday, weighing in on a tangled and polarizing problem that was central to … Continue reading →

Posted in Economics, Housing Recovery, Mortgages, Politics, Risky Lending | 204 Comments

Richmond, CA moves forward with nuclear option loan mods

Posted on August 2, 2013 by grim

From CNN/Money: California city’s drastic foreclosure remedy: Seizure The California city of Richmond said Tuesday that it’s ready to take an extraordinary step in its bid to stop foreclosures — threatening to wrest mortgages from the investors who now control … Continue reading →

Posted in Foreclosures, Mortgages, Politics, Risky Lending | 98 Comments

Governor keeps state out of the real estate business

Posted on July 2, 2013 by grim

From the Courier Times: Christie conditionally vetoes bill to create state program to buy foreclosed properties A controversial housing bill intended to help reduce New Jersey’s glut of foreclosed homes was vetoed by Gov. Chris Christie for a third time. … Continue reading →

Posted in Foreclosures, New Jersey Real Estate, Politics, Risky Lending | 40 Comments

Whodathunkit

Posted on June 27, 2013 by grim

From CNBC: Rising Mortgage Rates Cause ‘Rush to ARMs’ After hovering around record lows for the past few years, mortgage rates are rising dramatically. That has consumers not only shopping more but also considering adjustable rate mortgages, which offer lower … Continue reading →

Posted in Housing Recovery, Risky Lending | 80 Comments

Taibbi – Foreclosure review a sham

Posted on April 27, 2013 by grim

From the Rolling Stone: While Wronged Homeowners Got $300 Apiece in Foreclosure Settlement, Consultants Who Helped Protect Banks Got $2 Billion The obscene greed-and-arrogance stories emanating from Wall Street are piling up so fast, it’s getting hard to keep up. … Continue reading →

Posted in Foreclosures, Politics, Risky Lending | 34 Comments

Zandi goes all in

Posted on April 13, 2013 by grim

From the Washington Post: To boost housing market, policymakers need to get credit to the creditworthy

Posted in National Real Estate, Politics, Risky Lending | 55 Comments

Foreclosure Enron?

Posted on April 5, 2013 by grim

From DealBook/NYT: Blame Abounds Over a Flawed Foreclosure Review Private consultants and federal regulators are facing a fresh round of scrutiny in Washington after botching a broad review of foreclosures and failing to thwart financial misdeeds. A new report by … Continue reading →

Posted in Mortgages, National Real Estate, Politics, Risky Lending | 86 Comments

Greedy Banksters can’t stop picking on Helpless Victims

Posted on March 29, 2013 by grim

From HousingWire, a pawn of the real-estate-industrial-complex: Borrower spends on lingerie … should they get a loan mod? During the course of foreclosures when parties are discussing or attempting loss mitigation, borrowers submit financial records for lenders and servicers to … Continue reading →

Posted in Mortgages, Risky Lending, Unrest | 108 Comments

Housing ATM open for business?

Posted on March 26, 2013 by grim

From Bloomberg: Home Value Highest Since ’07 as U.S. Houses Make Cash More American homeowners will be able to use their properties as cash machines again after real estate equity jumped last year by the most in 65 years. Property … Continue reading →

Posted in Economics, Housing Recovery, Risky Lending | 135 Comments

NJ HomeKeeper hits its stride

Posted on February 13, 2013 by grim

From the Record: Foreclosure-prevention loans helping more in NJ, state says Once criticized as ineffective, the state’s main foreclosure-prevention effort has improved its performance and is now helping 250 troubled homeowners each month, Lt. Gov. Kim Guadagno announced Tuesday. The … Continue reading →

Posted in Economics, Foreclosures, New Jersey Real Estate, Risky Lending | 60 Comments

These guys would have fit right in here

Posted on February 7, 2013 by grim

From the NY Times: S.& P. E-Mails on Mortgage Crisis Show Alarm and Gallows Humor The executive at Standard & Poor’s was clear: “This market is a wildly spinning top which is going to end badly.” That sober assessment of … Continue reading →

Posted in Mortgages, National Real Estate, Risky Lending | 77 Comments

Inept banks blamed for poor HAMP performance

Posted on September 17, 2012 by grim

From the Huffington Post: Banks’ Disorganization Pushed 800,000 Homeowners Into Unnecessary Foreclosure: ProPublica Over the past several years, we’ve reported extensively on the big banks’ foreclosure failings. As a result of banks’ disorganization and understaffing — particularly at the peak … Continue reading →

Posted in Foreclosures, Mortgages, National Real Estate, Risky Lending | 111 Comments