Archive for 'Eviction' Category
Editor’s Note: Because of the complexity of what should have been securitization of loans but wasn’t, and because nearly all the information is coming from government sources which is getting its information from Wall Street, articles are appearing all over the place like the one below in the Washington Times. It intersperses fact with fiction. […]
Jim Wilson/The New York Times Updated: Oct. 21, 2010 When the housing boom began to cool in 2006, that set in motion a chain of events that was a disaster for millions of homeowners whose property has been seized by lenders. The plummeting property values that both followed from and accelerated foreclosures helped create the […]
Editor’s Note: Simply explained, the shadow banking system arises when private companies issue money. That is what Wall Street has been doing since 1983 when the credit derivative market was zero. Now it is $600 trillion, which is 12 times the size of the real banking system. It’s easy to see how they control things. […]
Editor’s Note: This is an illusion caused by Wall Street. As long as fraudulent hang over the market, as long as consumers keep getting battered, as long as we pretend that those mortgages are real and not just some pawn in a larger scheme of fraud, we will see home prices weaken. who can buy […]
40116426-DEUTSCHE-BANK-NATIONAL-TRUST-COMPANY-AS-TRUSTEE-NOTICE-TO-CERTIFICATE-HOLDERSForeclosure-Practice-Notice-10-25(2) It would be funny if it were not so disastrously tragic. This group of memos corroborates the information I heard on a telephone conference between the head of “asset acquisition” and the spokesperson for Deutsch as Trustee. To translate it into my native NY tongue. Fuhgetaboutit. (Okay, he said “this might be counter-intuitive.” Same […]
United States: FDIC Issues Final Safe Harbor Rule: Raises More Questions Than It Answers Editor’s Note: The clear implication here is (1) that these deals can be “unwound” and (2) that the FDIC thinks it can specify the circumstances under which it will be unwound. The safe harbor here might be a smoking gun announcement […]
Editor’s Note: Employers across the country are corroborating reports we have been getting for the last year — they can’t get qualified workers. Where are they? ANSWER: Stuck in a house they can’t get out of. A short-sale or modification would allow them to leave and go on with their lives. But around 1% of […]
The Obama administration needs to ensure that the taxpayers’ interests come first. Until now, the White House has focused far more energy on shoring up the banks — a stance that may have made sense in the thick of the financial crisis but is increasingly suspect now. October 26, 2010 The Mortgage Morass The mortgage […]
COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary why-the-paperwork-appears-sloppy why-short-sales-are-being-rejected Price declines are “geographically expanding,” with 78 out of the 100 largest metropolitan areas experiencing declines, CoreLogic said. That was up from 58 in July. Paul S. Willen, a senior economist at the Federal Reserve Bank of Boston, said Monday that the series […]
“The American people have a right for full and complete disclosure about their investment in A.I.G.,” Mr. Barofsky said, “and the U.S. government has an obligation, when they’re describing potential losses, to give complete information.” “If a private company filed information with the government that was just as misleading and disingenuous as what Treasury has […]
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