Freddie and Fannie to Buy $40 Billion a Month in Toxic Sub-prime and Alt-A Mortgages.
This is actually breaking news that has the potential to really destroy the U.S. taxpayer. Â There is a report out by Bloomberg and now being reported by CBS MarkeWatch that Federal regulators are going to order Fannie Mae and Freddie Mac to start buying $40 billion a month in troubled mortgages each month. Â Keep in […]
California Housing Prices Down 41%: Examining the Summer Selling Season and Future Trends
What a difference a year makes. In May of 2007 the median price for a California home was $595,000. Today the median price stands at $350,140, a drop of 41% from the peak. The drop in itself is stunning but what is more amazing is the speed in which this correction has occurred. The previous […]
Fannie Mae Mortgage Portfolio: $64.5 Billion in Alt-A or Sub-prime Loans. Why This is not a Conservative Bailout.
As we inch closer and closer to a full fledged bailout of the two giant government sponsored entities, Fannie Mae and Freddie Mac it would be useful to dig into their financial statement to see how one of their portfolios’ is structured. Â Unfortunately the general public is under the impression that Fannie Mae somehow operated […]
Nearly 1.5 Million Foreclosure Filings in 2008. California Represents 110,000 of Those Foreclosures.
Everyone by now realizes that not all states are facing the same problems with the current housing market. Foreclosures are now accelerating in states that had the highest appreciation in prices and consequently, are causing the most financial damage that is rippling throughout the economy. Foreclosures are the worst sign in any housing market. They […]