http://ml-implode.com Tracking the housing finance breakdown. en http://ml-implode.com/staticnews/2010-02-09_ForgettheMortgageImPayingMyCreditCardBill.html http://ml-implode.com 2010-02-09 "Before the housing crisis, bankers typically operated under the assumption that homeowners would do whatever possible to remain current on their mortgage—even if that meant falling behind on other bills. "It used to be that the mortgage was sacrosanct," says Keith Gumbinger of HSH.com. "You paid it before anything else." But a combination of factors linked to the current economic mess—falling home prices, high unemployment, and tight consumer credit—have lead many consumers to prioritize credit card payments above mortgage bills." http://ml-implode.com/staticnews/2010-02-09_AaxaMortgagegetssecondlife.html http://ml-implode.com 2010-02-09 "A Wilmington-based mortgage company will remain open, thanks to the help of a West Coast bank. AAXA Mortgage was forced to close its doors last week after an agreement with another bank went bad." http://ml-implode.com/staticnews/2010-02-09_MortgageBankersAssociationsellsHQat38mloss.html http://ml-implode.com 2010-02-09 "If anyone should be capable of financing a property successfully, you would think it would be the US Mortgage Bankers Association. But the nationwide trade organisation has been obliged to sell its own headquarters at a loss of $38m after spectacularly misjudging the value of a prime slice of Washington office space." http://ml-implode.com/staticnews/2010-02-09_FHALoanDefaultsSurpass9.html http://ml-implode.com 2010-02-09 "Officials at the Federal Housing Administration take every opportunity they can to assure the public that the agency is weathering the housing downturn just fine. But the latest batch of numbers show that defaults on loans backed by the government insurer show no signs of slowing." http://ml-implode.com/staticnews/2010-02-09_Duluthmanarrested16billioninphonyTreasurynotesseized.html http://ml-implode.com 2010-02-09 "On Feb. 1, Gwinnett County sheriff's investigators were notified by an attorney that Lloyd Clifford Norris wanted to purchase a home by using a registered promissory note supposedly certified by Treasury Secretary Timothy Geithner..." http://ml-implode.com/staticnews/2010-02-09_CUMortgageLendersFaceDifficultYear.html http://ml-implode.com 2010-02-09 "Credit union mortgage lenders came off a record breaking year in 2009, but industry executives fear 2010 may not see the same sorts of gains." http://ml-implode.com/staticnews/2010-02-09_WhatEverHappenedtoThatObamaMortgageModificationPlan.html http://ml-implode.com 2010-02-09 " One year ago this month President Obama announced a plan to help alleviate the housing crisis. Part of that plan included incentives for banks and lenders to renegotiate mortgages with homeowners who were struggling to make payments." http://ml-implode.com/staticnews/2010-02-09_InBrooklynMortgageCrisisEatsAwayWealthofSeveralGenerationsofHisp.html http://ml-implode.com 2010-02-09 "José Dolores Ortiz, had paid in full the $21,750 cost of the three-story house on 931 Bushwick Avenue. Today he owes nearly $330,000 for the same house." http://ml-implode.com/staticnews/2010-02-09_ScariestChartEVERLossSeveritySubprimeFirstLien.html http://ml-implode.com 2010-02-09 "This chart shows the loss severity for subprime first-lien mortgage loans in the tri-state area (New York, New Jersey, and Connecticut)." http://ml-implode.com/staticnews/2010-02-09_NoExitinSightforUSAsFannieFreddieFlail.html http://ml-implode.com 2010-02-09 "When Charles E. Haldeman Jr. became Freddie Mac's chief executive officer in August, the ailing housing-finance giant had already consumed $51 billion of government money to stay afloat. It's likely to need even more." http://ml-implode.com/staticnews/2010-02-09_Timeforbonusroundatbanks.html http://ml-implode.com 2010-02-09 " It's not the good old days, and it won't be all cash. But millions in extra pay will be handed out." http://ml-implode.com/staticnews/2010-02-09_Creditunionsseeklargershareofbusinessloans.html http://ml-implode.com 2010-02-09 " "Credit unions by their nature are designed to serve the underserved," said Frank Amantia, president of Mid-Atlantic Financial. Banks, he said, "have not stepped up to the plate and filled that need" of local businesses seeking loans." http://ml-implode.com/staticnews/2010-02-09_PlotThickensRBAJubileeAsianCreditorCenbanksDominating.html http://ml-implode.com 2010-02-09 " How about that Tracy Porter Guy! Oh well, while everyone was being distracted over the weekend, the big story in the world was happening at a secret location near Sydney, Australia with almost no media coverage. Thanks to the Herald Sun and the above blogger in India a few hints are emerging, though." http://ml-implode.com/staticnews/2010-02-09_USPrimeJumboRMBSdelinquencyratecouldtop10asearlyasnextmonth.html http://ml-implode.com 2010-02-09 "U.S. prime jumbo loan performance continued to weaken in January as serious delinquencies rose for the 32nd consecutive month, according to Fitch Ratings." http://ml-implode.com/staticnews/2010-02-09_BillCallsForPublicTransparencyIntoFannieFreddieOperations.html http://ml-implode.com 2010-02-09 "U.S. Representative Judy Biggert introduced new legislation Thursday designed to ramp up congressional oversight of the government-controlled mortgage giants Fannie Mae and Freddie Mac and disclose the intricacies of the two companies’ businesses to taxpayers" http://ml-implode.com/staticnews/2010-02-09_BlindPoolsFalterasZimanCallahanPlanPropertyComeback.html http://ml-implode.com 2010-02-09 "- Richard Ziman and Timothy Callahan want to raise money in the equity market after selling their real estate companies for a combined $12 billion before the property crash. Investors may balk at bankrolling their return." http://ml-implode.com/staticnews/2010-02-09_PulteHomesPosts13thStraightQuarterlyLoss.html http://ml-implode.com 2010-02-09 "Pulte Homes Inc., the U.S. builder that bought rival Centex Corp. in a bid to weather the housing recession, reported its 13th consecutive net loss as writedowns more than offset a tax refund." http://ml-implode.com/staticnews/2010-02-09_IndyMacandtheFDICBePreparedToFeelBurned.html http://ml-implode.com 2010-02-09 " What a sweetheart deal for One West Bank courtesy the American taxpayer" http://ml-implode.com/staticnews/2010-02-09_DidTheObamaAdministrationDoANYHomeworkBeforeAnnouncingTheVolcker.html http://ml-implode.com 2010-02-09 ``The Volcker rule could be far-reaching. But it is disturbing that the Obama administration announced it before they had done enough homework to tell us how it would work. And with respect for the one man of influence sticking up for true restraints on the banks, I’d urge Volcker not to minimize the difficulty of the task until he founds out more of what’s really going on'' http://ml-implode.com/staticnews/2010-02-08_California1MPlusHomeSalesDrop24.html http://ml-implode.com 2010-02-08 " Million-dollar home sales continue to decline in California, as price declines are bringing homes below the $1m threshold and hesitant buyers have yet to return to the market, according to property data provider MDA DataQuick."