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News Feeds |
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The Mortgage Lender Implode-O-Meter (main list & news)
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Tracking the housing finance breakdown.
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Spain Hikes Budget Deficit From 8.5% to 8.9%
```... while it came as a surprise to the market back in December when Spain announced it would post a 2011 budget deficit of 8.5% instead of the previously promised 6%, the market will hardly be impressed that Spain actually overspent by another ?4.2 billion, to a brand new total of ?95.5 billion of 8.9% of GDP. So Monday now has two things to look forward to: the Spanish bond margin hike on one hand courtesy of LCH.Clearnet earlier, and the fact that despite spending even more than expected, GDP growth has disappointed and the country is now officially in a double dip. Hardly what the country with the record wide CDS needs right now.''
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Breaking News: Lloyd's Bailing on Embattled Allied Home Mortgage
``If Lloyd's is able to pull out, Allied will face a much tougher road ahead defending themselves in the pending FHA False Claims Act suit.''
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EUR Soars On No News, As Santander UK Says 30% Of Visiting Customers Pulled Their Deposits Today
[Santander's Head of UK banking] said about 70% of customers who visited Santander UK branches on Friday to discuss their concerns left without withdrawing their funds. The other 30% couldn't be convinced, he said. "They say, 'I got caught by Northern Rock and I don't want to get caught again'," Mr. Pateman said. Northern Rock is a British bank that collapsed in 2007.
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Michigan AG Wants More Slammer Time For Loan Mod Scammer Winstanley
``I can understand how real estate agents and mortgage originators fell for her bullshit because most of them have an IQ equal to Peter Griffin from Family Guy. What I don't get is how the attorneys fell for her con. They never asked for credentials nor did they ever bother to research the Michigan statute that states that what she was doing was blatantly illegal.''
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Boom-Era Debt Sparking German Apartment Sales: Mortgages
Germany's multi-family housing market is set to have the most deals in five years as investors including private-equity firms are forced to sell almost 100,000 apartments to pay debt amassed in last decade's buyout boom.There were 2.9 billion euros ($3.7 billion) of apartment property transactions in the first quarter alone, more than three times the amount a year earlier, and the total this year may exceed 6 billion euros, the most since 2007
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