February 4, 2012

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Federal Reserve Growing Fat on Mortgage Bonds

July 16, 2010 By Leave a Comment
Federal Reserve Balance Sheet

Image via Wikipedia Mortgage-backed securities took the US economy to the brink of total collapse when US bank over stuffed themselves with these assets. Attracted by the siren song of high yields and illusions that real estate always appreciate and homeowners never default in huge numbers, they learned the folly of their assumptions. Is the US Federal Reserve headed down the same road? Recently released Fed data shows that their balance sheet has grown to $2.324 trillion, mostly fueled … [Read more...]

Wall Street Debt Investors’ Confidence Renewed?

July 14, 2010 By 1 Comment
NYSE-floor

Image via Wikipedia Corporate bonds, bets on the repayment of corporate debt, are experience a sustained rally. Investors are showing a renewed confidence in the global economy as they grab new debt securities in a variety of companies recent capital raises. This rally is currently the longest in four month--approaching the six day bond rally in March 2010. Retailer Target Corp. was able to raise $1 billion in their bond sales, the first in two years. And in the International markets Dutch … [Read more...]

What Every Borrower Should Know About Home Appraisals

July 12, 2010 By Leave a Comment
Case-Shiller Home Value Index

Image via Wikipedia The housing crisis of 2007 changed everything in the real estate and mortgage market. One of the biggest changes rising out of the mortgage crisis are home appraisals. These are changes that are likely to impact you refinancing your home or buying a new home. Therefore, the more you know about how your home gets appraised the more likely you are to get the mortgage you need. Home Valuation Code of Conduct (HVCC) Let’s start with what is causing all of the … [Read more...]

Mish's Open Letter to President Obama

February 27, 2009 By Leave a Comment

Image via Wikipedia Okay, Mish and I are not politically aligned, but I like his approach and I think this Obama budget is going to be a powder keg in both parties. Full of democratic policy initiatives, much like the economic stimulus package, this budget is going to drive Americans and politicians crazy with images of overusing political capital. In classic Mish fashion he captures the key points: With all due respect Mr. President, Tim Geithner and Ben Bernanke are offering the same … [Read more...]

All Fannie Mae and Freddie Mac

August 20, 2008 By Leave a Comment

These two massive GSE's staged for a monumental meltdown are sucking the air out of the proverbial (mortgage market news) room. Lots of good coverage and analysis: Associated Press: Fannie Mae, Freddie Mac shares plummet Shares of mortgage finance companies Fannie Mae and Freddie Mac continued their plunge Wednesday as investors are increasingly convinced that the stocks will drop to zero if the government bails out the troubled companies. Marketwatch.com: Freddie, Fannie tumble in early … [Read more...]

Stagflation, Another Bank Failure, Fannie Mae/Freddie Mac Bailout, 10-year Treasury, Lehman, Inflation Hits Stocks

August 19, 2008 By Leave a Comment

Angry Bear: Have we hit stagflation? Rdan over at the Angry Bear Blog makes his case: Is when Unemployment is 5% or more and when Inflation is 5% or more at the same time. June 2008 - July 2008 (Un-5.6% and Inf-5.31%, 2 months so far) BloggingStocks: Wachovia or Washington Mutual next to fail? Economists are rallying to predict the next victim of the mortgage market anchor that has been sinking banks on a regular schedule over the last year. Who is next? Here is some of the latest … [Read more...]