Post Tagged with: "mortgages"
Banks Paying Cash to Homeowners to Avoid Foreclosures
Here’s the latest story that’s been getting buzz around the internet: banks are trying to get troubled mortgages off their books without having to go through costly foreclosure processes and they are offering homeowners cash incentives to do so
More on Banks Making Shed Loads But Fannie And Freddie “Losing Money as a Matter of Policy”
Fannie and Freddie have already been nationalized and the government is already on the hook for hundreds of billions of dollars of losses as a result. Clearly, this makes it a lot easier to use the GSEs as vehicles to pump money into the economy because any incremental loss is completely obscured by the existing gargantuan losses. Fannie and Freddie can essentially become a giant stimulus slush fund for the Obama Administration as we head into the 2012 election
On Canadian and Australian bank risk
Banking sectors in both countries are highly concentrated. The top four banks in Australia account for about three quarters of the banking assets. The top six Canadian banks account for upwards of 90% of the Canadian banking assets. According to Fitch, the concentration and high profits of the banking sector is favorable to each as it provides a cushion against losses and need to pursue higher risk activity/lending.
Both Canada and Australia are experiencing over-valued housing markets. The IMF estimates Canadian house prices are about 10% risk while Australia is 10-15% over-valued
I repeat: The Fed’s Permanent Zero rate policy is toxic
Permanent zero can work over the medium-term but the economy is dependent on employment growth and monetary policy doesn’t drive that
[PREMIUM] More on the Fed – Obama stimulus plan
My last weekly said the hand-in-hand Fed activism and fiscal activism via Obama’s mortgage proposal is bullish. Let me add a bit of colour here
The stark contrast between European economic policy and US economic policy
I was on CNBC yesterday ahead of Ben Bernanke’s speech explaining the FOMC’s recent decision to add an explicit inflation target to its decision to extend its rate easing/permanent zero policy. My conclusion: the Obama mortgage plan and Bernanke easing campaign are bullish for the US economy
[PREMIUM] The Fed’s Rate easing and Obama’s Mortgage refi plan are bullish
Investors must still be worried about the fallout from the European meltdown. However, the situation in the US is looking much better than it did last week because of this aggressive policy response
Full text: Moody’s reviews five Spanish covered bond programmes for downgrade
The following is the press release Moody’s issued in putting the covered bonds of five Spanish banks on review for credit ratings downgrades
News Links: Is Denmark on Verge of Icelandic Style Crash?
Financial news links for 8 December 2011 including stories on Denmark and Danish bank capital, the European sovereign debt crisis and Spanish banks
News Links: BofA Clash With Fannie Mae Escalates Over Loan Buyback Stance
BofA Clash With Fannie Mae Escalates Over Loan Buyback Stance – Bloomberg Bank of America Corp. (BAC) told Fannie Mae it refuses to cooperate with the U.S. mortgage firm’s new stance on loan buybacks, setting the lender up for a potential surge in claims and penalties. EU’s Barnier: Tougher rules must precede euro bonds |
News Links: Japan’s Hidden Jobless
2011/11/16 00:43 – Japan’s Hidden Jobless Hits 4.69mn, Worse Than After Lehman Shock The number of Japanese that want to work but are not actively seeking employment has surpassed levels from after the global financial crisis erupted, according to government data released on Tuesday. Some people have given up searching for work because they believe