WOW! BIG Housing & Mortgage Easing News: This Changes Thing https://mhanson.com/6-2-hanson-wow-big-housing-mortgage-easing-news-changes-things/ by Mark Hanson Fannie Mae pulls a 2006-style credit ease…this changes things. QUESTION: How do you know you that you are past mid-stage in a housing bubble? QUESTION: How do you know that the overlords are worried about a housing market correction? QUESTION: How do you know the…[...]
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by Kathryn Vasel @KathrynVasel Rising housing costs are putting a major squeeze on Americans. Nearly 39 million households can't afford their housing, according to the annual State of the Nation's Housing Report from Harvard's Joint Center for Housing Studies. Experts generally advise budgeting about 30% of monthly income for rent or mortgage costs. But millions of Americans are far…[...]
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https://www.bloomberg.com/news/articles/2017-06-16/the-u-s-is-where-the-rich-are-the-richest Being rich is great. But being rich in America? That’s even better. With US stock benchmarks trading just below record highs, and Treasury yields not too far from the all-time lows reached last summer, the gulf between the world’s wealthy elite – those 18 million households worldwide with more than $1 million in assets – and everybody else is…[...]
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Editor's Note: Right before the housing bubble burst in 2008 the American public was being told by the media and government that the economy was sound. We are now in the 9th year of an artificial recovery. If you look at the real economic indicators, we are at the tipping point that will likely make the 2008 Bubble look like…[...]
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Authored by Bonner & Partners' Bill Bonner, annotated by Acting-Man's Pater Tenebrarum, Don’t Be Fooled by These Calm Markets What is happening in the world of money? Well – the most striking thing is: nothing. It doesn’t seem to matter what happens. Dysfunction in Washington. Meltdown of the techs. No matter how rough the seas get, the markets glide along… scarcely…[...]
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What Housing Recovery? Real Home Prices Still 16% Below 2007 Peak http://www.zerohedge.com/news/2017-06-16/what-housing-recovery-real-home-prices-still-16-below-2007-peak Since the financial crisis, home equity has gone from being America’s biggest driver of (illusory) wealth to one of the biggest sources of economic inequality. And while the post-crisis recovery has returned the national home price index to its highs from early 2007, most of this rise was…[...]
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Treasury Report Recommends Keeping Data From Consumers Grace Donnelly Jun 14, 2017 An agency created to protect the interests of American consumers may be gutted by the Trump administration's pursuits to cut back federal regulations. The Consumer Financial Protection Bureau, which was created by the Dodd-Frank measures to hold financial institutions accountable for customer grievances about their products, is the…[...]
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Senate Judiciary Committee chair wants answers on where all the mortgage settlement money went
Jun 16, 2017
Sen. Grassley asks DOJ to consider clawing back funds June 16, 2017 Ben Lane Earlier this month, the Trump administration’s Department of Justice put a stop to an Obama administration tactic of dictating that some companies send settlement funds to unaffiliated third parties, a practice that Republicans criticized as a “slush fund” operation. Several top Republicans, including House Financial Services…[...]
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By Ben Lane/Housing Wire https://www.housingwire.com/articles/40445-former-nomura-rmbs-trader-found-guilty-of-securities-wire-fraud-conspiracy Nearly two years ago, the Securities and Exchange Commission and the U.S. Attorney’s Office for the District of Connecticut charged three former Nomura Securities International residential mortgage-backed securities traders with fraud, alleging that they “repeatedly lied” to customers about the pricing information of mortgage bonds and defrauded customers out of millions of dollars. Earlier this year, the…[...]
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by KK MacKinstry Investigator Bill Paatalo discovered a disturbing article written by Michael O’Connell, the COO for Nationwide Title Clearing, a company that creates tens of thousands of assignments as a third-party contractor. O’Connell erroneously claims in his article that, “assignments simply reflect the transfer of servicing rights from one servicer to another.” O’Connell is incorrect. Mortgage assignment reflects a…[...]
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