Items Tagged with 'the LA Times'


  • BofA's Lewis: We're Going to Repay TARP Funds, ASAP

    The growing public outrage towards bankers, evident in the AIG bonus debacle, clearly has banking executives anxious to get out of the government's back pocket as soon as possible, with Bank of America Corp. [stock BAC][/stock] CEO Ken Lewis telling the Los Angeles Times earlier this week that he intends BofA to begin repayment of government funds as soon as a "stress test" of the bank is complete at the end of next month.
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  • As REO Inventory Grows, Vendors Jockey For Position

    REO is hot. Make that super hot. As foreclosures have soared, so have the number of properties owned by banks and now on the market to be resold; and that means the companies looking to help lenders sell their REO are facing astronomical growth rates, too, to say nothing of the local listing agents and brokers in the REO space. But that growth has also made the market to help sell institutionally-owned homes ripe for entry -- and two such new entrants underscore the big draw that selling REOs now has.
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  • Who Gets the Foreclosure Count Right?

    If you haven't waded through the default industry waters before, you might be surprised to see the vehemence with which different data companies argue the validity of their numbers. RealtyTrac,,, and many -- many -- more. All will BRISTLE at even the slightest hint their numbers are wrong. Yet someone's are. Why? Because nobody has the same numbers, often not even close. The LA Times waded into these murky waters this past weekend:
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  • Tales from the Slump

    The media has taken to the word "slump" to describe the current downturn in the US residential housing market, but even that might be too kind a word for the current state of the market -- there were a few stories out yesterday that suggested the road ahead might move from "slump" to outright "steep decline." The LA Times ran a story that said home sales in Southern California fell to a 12-year low during April:
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  • New Century: Thank Goodness the Execs Are Still Being Paid

    In a decision I still can't quite wrap my little pea brain around, apparently the bankruptcy court presiding over New Century's collapse decided yesterday that it would allow the company to pay out $3.2 million in bonuses to 116 key executives at the defunct company. That's according to this story from the LA Times.
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