Mortgage scammer commits fraud from inside jail cell

Mortgage scammer commits fraud from inside jail cell

Alan Tikal stole $5.8 million from homeowners

Which banks are positioned to capitalize on stress test results?

Deeper dive into Dodd-Frank stress test

More troubling signs point to potential increase in defaults

And yet we introduce a 100% LTV mortgage
W S

Investments

Supply of affordable multifamily housing doesn’t match demand

MBA: Here’s a look at the problem
Trey Garrison
What modest income households needs and what's on the market is out of sync. The MBA warns to mind the gap. Here's the latest low-down.
Read More

These homes were bigger when I was younger

Five properties that aren’t the giants you thought
Trey Garrison
When you’re a kid everything looks big, but when you grow up, you realize that some things that were huge then aren’t so much. Take a look and add your own.
Read More

Unemployment rate falls as all-time high number drop out of labor force

Employers added 295K jobs in February
Trey Garrison
The unemployment rate dropped and an unbelievable number of jobs were added by employers, but the devil is in the details.
Read More

NY appeals court approves Countrywide’s $8.5B settlement

BNY Mellon acted properly as trustee four years ago
Trey Garrison
This could be the final hurdle, and payouts could be coming soon in the rep and warranty settlement. Here’s what happened and what it could mean for JPM and Citibank’s settlements.
Read More

Calgary housing market a canary in the shale mine?

Home prices, sales plummet alongside price of crude oil
Trey Garrison
Oil prices dropping are making a lot of Americans happy. But not everyone. And what's happening up in Calgary could be coming to a lot of shale oil states. Here's why.
Read More

JPMorgan preps second ARM-only jumbo mortgage bond

$372.4 million offering receives triple-A ratings
Ben Lane
Kroll Bond Rating Agency, Moody’s Investor Service and Fitch Ratings each issued presale reports on J.P. Morgan Mortgage Trust 2015-IVR2, and each ratings agency awarded triple-A ratings to the majority of the offering’s classes.
Read More

Initial jobless claims jump dramatically

Bad omen for Friday’s employment situation report
Trey Garrison
Initial jobless claims jumped dramatically, and the 4-week rolling average is rising. This could be bad news for Friday and the economy in general.
Read More

New Orleans planning huge public property auction

City seeks to revitalize blighted neighborhoods
Ben Lane
The city of New Orleans is planning to auction of 3,000 tax-adjudicated properties in an effort to revitalize some of the city’s blighted neighborhoods. According to a report in the New Orleans Times-Picayune, prospective buyers will be able to view the properties online beginning March 6 and may be able to claim a property for as little as $3,000.
Read More

MKM Partners recommends stock buys on these two mortgage insurers

Sees strong fundamentals for investors in MGIC, Radian
Trey Garrison
MKM Partners sees potential -- strong potential -- for investors in mortgage insurers, owing to where they see the housing industry going. Here's what they're saying.
Read More

At long last: ING completes exit from disastrous US business ventures

Completes divestment of Voya Financial
Ben Lane
With the sale of 45.6 million shares of Voya Financial, ING Group announced Wednesday that its exit from the U.S. retirement, investment and insurance business is complete. ING agreed to divest itself from Voya at the direction of the European Commission, as part of its bailout of ING.
Read More