In a recent story published on BusinessWeek’s website, the subprime mortgage industry is taken under the microscope and picked apart, bit by scandalous bit.
Read more »Subprime: The Bad and the Ugly (But Don’t Forget the Good)
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Default Risk: Not Just for Homeonwners Anymore
Homeowners are not the only ones having difficulty paying their mortgages. Owners of commercial properties, from office buildings and industrial parks to malls and resorts to hospitals and medical buildings are all feeling the pressure. And as of Tuesday, the cracks are officially beginning to show.
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Can the TALF Return Demand to the Markets?
We can now enter a new acronym into our lexicon: TALF. And what is TALF?
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Mortgage Market Update
If the mortgage market collapses this week, just “Blame it on Rio,” as that is where this week’s market update is coming to you from. After all, with the volatility of last week’s shortened trading week, and the volatility sure to come next week as we give thanks, we need to put blame somewhere.
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Don’t Forget The Pets
People are not the only ones left homeless by foreclosure. Nearly three-quarts of all American households include a family pet, according to No Paws Left Behind and when families face tough economic times, it is often the animals who fare the worst. It is believed that as many as 4 million Americans and 1.25 million pets my lose their home in the current economic crisis.
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Hedge Funds Weren’t Hedged-Who Knew?
Hedge funds are continuing to lose big bucks, suspending redemptions and, in a number of cases, liquidating. They all cite difficult market conditions. Which markets, though? Derivatives have been under the radar lately, yet there have been many events that would force mark-to-market accounting. Recent changes in SEC rules allow banks to defer mark-to-market and keep off balance sheet certain assets. Hedge funds too?
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Seniors Going In Reverse
Have you seen Robert Wagner recently? Chances are you have and he’s been talking about reverse mortgages. Reverse mortgages have been touted as a solution for cash strapped seniors allowing them to keep and live in their home while still enjoying a comfortable lifestyle. Comfort has lately taken a back seat to surviving the current economic chaos.
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Obama’s Housing Promises
A guest post from Frank Shump. Frank is a veteran from the financial services industry, and currently authors a blog called Thefinancecastle.com, which documents his thoughts on money matters and his adventures in self employment.
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The Blame Game
A guest post by Jay C. Hammond, freelance journalist and researcher.
There are plenty of candidates for blame in the current mortgage meltdown. Yet the ability of the Federal Bureau of Investigation (FBI) to investigate mortgage fraud and other financial crimes is increasingly being called into question. The FBI and the Department of Justice are the agencies primarily responsible for pursuing criminal charges against lenders and financial firms.
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Election Day facts
A guest post from Constantine von Hoffman, veteran business journalist and author of the blog CollateralDamage.biz, a humorous look at marketing, business and his dog.
No matter who wins today, the facts on the ground will not change. Currently the best-case scenarios are for a recession ending sometime late next year. Never a good sign when that’s the view from the rose-colored glasses.
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