Federal Reserve

“Liar Loans” – RIP – October 1, 2009

Liar Loans To Be Prohibited No income verification and stated income mortgage loans have been available to borrowers for many years.   As originally conceived, a no income verification loan was a sound product, offering highly qualified […]

Mortgage Refinances Drop 11% As Rates Remain Low

Refinances Decline as Rates Stabilize The latest weekly survey from the Mortgage Bankers Association showed a decrease of 6.3% in mortgage loan applications.   Application volume compared to the previous year increased by 16%. The interesting aspect of […]

The Fed’s Contribution To Ponzi Schemes

12% Returns – “Guaranteed” You don’t know whether to laugh or cry every time another Ponzi scheme comes to light. July 28 (Bloomberg) — The U.S. Securities and Exchange Commission said it halted a $50 million Ponzi […]

Time Shares – Another Shattered Dream

Vacation Turns Into Financial Nightmare Anyone who has vacationed to a tropical resort cannot be blamed for thinking how great it would be to own a piece of paradise.  Those who succumbed to the charms of the […]

Will Mortgage Rates Soar As Fed Programs Wind Down?

Fed Support No Longer Unlimited There seems to be near unanimous agreement at all levels of government that a recovery in housing prices is essential for economic stabilization and future growth.   The Federal Reserve has supported this […]

Regulatory Reform Implies Cause and Solution To Financial Meltdown The Same

Regulatory Reform Implies Cause and Solution To Financial Meltdown The Same

The Federal Reserve failed miserably in preventing the meltdown of the American financial system.  Worse yet, the Fed’s loose credit and monetary policies and failure to properly regulate the financial system was arguably one of the biggest […]

Fiscal Discipline – Endorsed By All, Practiced By None

Has anyone noticed the correlation  of “fiscal discipline” chatter to rising interest rates?  Efforts by the Fed to manipulate rates lower through the outright purchases of treasuries and mortgage securities seem to be failing as the long […]

Bonds Sell Off, Credit Ratings In Doubt & Mortgages ReDefault

Every day there are many great posts on the web.  Here are some  from the past week  that merit a full read.  The listing order  is random. Ok, I’m Done With Being Nice Karl Denninger does not […]

Geithner – “I am not a crook”

Geithner -

“Chinese assets are very safe” This remarkable assertion regarding the safety of US debt securities held by China was made by Timothy Geithner, US Treasury Secretary, during his visit to China.   That Mr. Geithner felt compelled to […]