Posts
The second leg down
Where it will come from and when
Shiller, Case: Prime Mortgages Are Next Time Bomb
By: Dan Weil
Real estate gurus Robert Shiller and Karl Case say the mortgage crisis will now spread even to homeowners with strong credit scores.
The two co-founded the S&P/Case-Shiller Home Price Index. Shiller teaches at Yale and Case at Wellesley College. FULL STORY
Two Time Defaulters at Fannie, Freddie Hit 34 Percent
Friday, 08 Jan 2010
More than a third of U.S. residential loans modified by Fannie Mae and Freddie Mac early last year were in arrears again after six months, though the default rate has improved, according to the regulator of the two largest mortgage finance companies.
About 34 percent of homeowners with loans guaranteed by the companies modified in the first quarter of 2009 were at least 60 days delinquent, the Federal Housing Finance Agency said in a quarterly report on Friday. FULL STORY
Ludwig: Real Estate to Kill Hundreds of Banks
Friday, 08 Jan 2010
By: Dan Weil
Commercial real-estate woes will push a plethora of banks belly-up, says Eugene Ludwig, former Comptroller of the Currency.
“Losses from commercial real estate will be quite high by historic standards,” Ludwig, now chairman of consulting firm Promontory Financial Group, told Bloomberg.
“Hundreds of banks will fail or will be resolved over the course of the cycle.” FULL STORY
2 comments:
Here are several articles regarding the collapse:
Shiller, Case: Prime Mortgages Are Next Time Bomb
http://moneynews.com/StreetTalk/Shiller-Case-PrimeMortgages-crisis/2010/01/07/id/345627
Two Time Defaulters at Fannie, Freddie Hit 34 Percent
http://moneynews.com/Headline/fannie-freddie-default-twice/2010/01/08/id/345839
Ludwig: Real Estate to Kill Hundreds of Banks
http://moneynews.com/StreetTalk/banks-fail-eugene-ludwig/2010/01/08/id/345810
From Doctor Housing Bubble:
The Financial Psychology of Moral Hazard and Strategic Defaults: How to Destroy the Economic Fabric of Society by Providing Benefits for Financially Irresponsible Bets on Housing.
http://www.doctorhousingbubble.com/the-financial-psychology-of-moral-hazard-and-strategic-defaults-how-to-destroy-the-economic-fabric-of-society-by-providing-benefits-for-financially-irresponsible-bets-on-housing/
Fannie Mae and Freddie Mac Behind the big number of Canceled Foreclosure Auctions? $745 Billion Bailout to Erase Negative Equity for Every Underwater Homeowner. Fannie and Freddie Uncapped. Prelude to new Bailouts?
http://www.doctorhousingbubble.com/fannie-mae-and-freddie-mac-behind-the-big-number-of-canceled-foreclosure-auctions-745-billion-bailout-to-erase-negative-equity-for-every-underwater-homeowner-fannie-and-freddie-uncapped-prelude/
Post a Comment