Hints and tips:
...Neither the monster national players (JPMorgan Chase, Bank of America, Wells Fargo, Citigroup) nor the regionals (PNC, M&T, et al) have had much to say about the economy’s effect on credit quality....
...It’s not going to be debt holders, which are the Fed and the Federal Home Loan Bank of San Francisco. They are secured creditors who hold collateral against their loans....
...Latest news Nato’s Stoltenberg accuses Putin of ‘dangerous and reckless nuclear rhetoric’ Steep mortgage rates fuel August decline in US existing home sales New York attorney-general files fraud suit...
...The first of these is that most mortgage market people do not believe it is possible to sell Fannie and Freddie mortgage-backed securities without a government “wrap”....
...Andrew Garthwaite et al at Credit Suisse has had a fiddle about with the model portfolio, resulting in insurers getting a push....
...The taxpayer’s support of Fannie and Freddie underpins the unique US system of fixed 30-year mortgages, which allows homeowners to pay back home loans over decades without worrying about interest rates....
...So the FDIC as liquidator of Penn Square et al asserted that the “sales” of loan participations by Penn Square and the others were not “true sales” that gave rights to the underlying collateral (whatever...
...al (2014)....
...(Financial Times) Average home prices in the US increased 2.2 per cent from April to May....
...“We have become hostage to the irresponsible behaviour of politicians,” said Bader al-Saad, head of the KIA, in a New York speech last month....
...Most of al-Qaeda’s top lieutenants have been defeated. The Taliban’s momentum has been broken, and some troops in Afghanistan have begun to come home....
...In September 2008, at the height of the financial firestorm sweeping the planet, the US government stepped in to bail out Fannie Mae and Freddie Mac, two pillars of its mortgage market....
...Moreover, the Fed has not exhausted its capacity to push down mortgage rates, which are mostly fixed-rate loans tied to Fannie and Freddie borrowing costs....
...“There has been a focus on banks’ capital, liquidity and their mortgage exposure.”...
...it will probably also include backing for loan principal reductions in cases where the mortgage is worth a lot more than the value of a home....
...The Federal Reserve last week began buying mortgages backed by government agencies Fannie Mae and Freddie Mac, part of its planned purchase of $500bn over the coming months....
...Countrywide Home Loans Servicing LP, et al is ostensibly brought on behalf of a class of purchasers of certain mortgage pass-through certificates for which CWALT, Inc. and various issuing trusts filed registration...
...Shame Michael Moore et al were not listening to him back then....
...Recommended discourse: JCK et al at Alea....
...In the 1980s the federal government’s guarantee to investors amid the savings and loans crisis created moral hazard....
...As well as the provisions related to Fannie Mae and Freddie Mac, the bill will allow the government to guarantee up to $300bn in mortgages refinanced at more affordable rates through the Federal Housing...
...Shares in the beleaguered mortgage giant rose 10 per cent to $21.79. Another mortgage lender grabbing traders’ attention was Accredited Home Lenders....
...In reviewing a sample of “no doc” loans that relied on borrowers’ statements, the Mortgage Asset Research Institute recently found that almost all would-be home owners had exaggerated their income, with...
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