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Weekend Notes: The Loan Modification Edition

November 1, 2008 By Bill Rice Leave a Comment
home loan modifications

Loan Modification Plans The US government and JP Morgan Chase race to massive loan modification plans. Naked Capitalism reviews the JP Morgan plan with skepticism: So despite the use of mortgage counsellors, borrowers are NOT being assessed on an individual basis. I hate to sound like a perennial skeptic, but I doubt that these programs will be terribly successful (although pushing foreclosures off even two or three quarters will probably make the bank's financials look better, and they presumably … [Read more...]

Filed Under: Economist, Economy, FDIC, Mortgage Notes Tagged With: Commercial Paper, economic crisis, FDIC, financial crisis, gmac, Loan Modification

Mortgage Rates, Gordon Brown, New Bank Capital, and Credit Crisis in 30 Slides (or Less)

October 15, 2008 By Bill Rice Leave a Comment
hair nails gifts mortgages

Mortgage Rate Update: Volatile, Float UK Prime Minister Gordon Brown claims to be leading the world through the global banking crisis and it looks like he may be right, as the US and Treasury Secretary continue to take queues from UK government action. The mounting question on the US financial crisis rescue execution front is: Will banks lend or hoard new capital? Crisis of confidence #2: Recession begins new market slippage. Major US banks begin to report quarterly earnings this week. Harbors … [Read more...]

Filed Under: Commercial Paper, Federal Reserve, Mortgage Rates, Treasury, UK Banks, US Banks Tagged With: bill gross, Commercial Paper, credit crisis, gordon brown, Mortgage Rates, pimco, Treasury

Government to Buy Unsecured Corporate Debt

October 7, 2008 By Bill Rice Leave a Comment

The Government is now REALLY wading taxpayers into dangerous waters-considering buying (unsecured corporate debt) commercial paper. Link tour of the issue: Credit crunch continues to spread, freezing corporate credit (NYTimes) Federal Reserve and Treasury discuss buying commercial paper (Reuters) $95 billion has flowed out of the commercial paper market in the first week of October (Telegraph) Bill Gross of PIMCO never saw a bailout he didn't like (Bloomberg) … [Read more...]

Filed Under: Commercial Paper, Federal Reserve, Treasury Tagged With: bill gross, Commercial Paper, debt, fed, pimco, Treasury