From Dow Jones: FDIC Seeks Buyers for Three Puerto Rican Banks According to two people familiar with the matter, the agency has hired an investment bank to try to find capital or outright purchasers for W Holding Co. Inc., R&G Financial Corp. and Eurobancshares Inc., three banks located in Puerto Rico with almost $21 billion in combined assets. The three […]
Last night I mentioned the astounding DTI (Debt-to-income) of HAMP modification borrowers who were converted to a permanent modification: 2010: REOs or Short Sales? Click on chart for larger image in new window.If we look at the HAMP program stats (see page 6), the median front end DTI (debt to income) before modification was 45%, and the back end DTI was a […]
Click on graph for larger image in new window.Total housing starts were at 575 thousand (SAAR) in February, down 5.9% from the revised January rate, and up 20% from the all time record low in April 2009 of 479 thousand (the lowest level since the Census Bureau began tracking housing starts in 1959). Starts had rebounded to 590 thousand in June, and have mov […]
I have a few good quotes about secular bear markets in The Bear: Dead or Just Sleeping?: “And, in fact, many in the bear camp believe the market is destined to meet its maker as soon as the Fed starts to raise interest rates – which could happen late this year. “When rates go up, it becomes [...] […]
Weather impacted Feb Housing Starts totaled 575k annualized, 5k above estimates but down from 611k in Jan which was revised up by 20k. Permits totaled 612k, 11k above expectations but down from 622k in Jan. With both starts and permits, single family and multi family categories fell. Single family construction fell in the Northeast and [...] […]
One Day at a Time, no not the sitcom staring Valerie Bertinelli that many of us grew up watching but the new drama that is now the FOMC where the flip side of their extraordinary accommodation, that of exit, becomes the main focus where they will be literally analyzing the process one day at a [...] […]
How about this for a new and ingenious real estate money machine? Every time a house sells during the next 99 years, 1 percent of the price goes back to the original developer or is shared among investor partners. Ka-ching! […]
The Duke University men’s basketball team may have swept the University of North Carolina at Chapel Hill on the hardwood this year, but the Blue Devils couldn’t knock their archrival out of the No. 1 spot in the Harris Poll’s annual ranking of the most popular college basketball teams. […]
The city of Raleigh began charging for parking Tuesday in formerly free spaces around Fayetteville Street downtown, according to a written statement on the city’s Web site. […]
Consumer prices in the 16 countries that share the euro rose at a slower pace in February than in January due to broad-based but slight changes in prices, final official data confirmed. […]
Chinese consumers scaled back their expectations of future inflation, a tentative sign of improvement in an issue that has drawn attention from the nation's leaders. […]
Personal finance tools have long played a couple of roles: money manager and financial product advocate. Now, a couple new tools claim to add another role: financial planner. […]