Google’s Mortgage Shopping Product. Jumbo News.

Google has built built out its mortgage rate searches by launching a comparison tool for consumers. Lenders who want to be in searches must pay for the privilege. More Jumbo News Here is some company news of note. Springleaf, an offshoot of American General Finance, is planning to raise $500 million for nonconforming/non-agency loan financing.

Geithner’s AIG Testimony, Key Points & Full Text

Treasury Secretary Tim Geithner is testifying before congress this morning about the AIG bailout in Fall 2008. At issue is whether AIG counterparties should have been paid in full for AIG’s obligations to them using government aid. As the testimony points out, Treasury and the Fed were mostly concerned about broad economic meltdown and had

Homebuyer Tax Credit Extended. Earnings from Fannie, PMI, AIG.

In a move that other states may take note of, in North Carolina, the N.C. Office of the Commissioner of Banks (NCCOB) is sending a message by announcing that it is proposing mortgage rules to help reduce foreclosures, to improve consumer protection and the functioning of the mortgage market, and to implement the S.A.F.E. Act.

AIG’s Biggest Counterparties, Next Wave of Hysteria?

We’ve already discussed why the last big wave of hysteria about AIG and resulting 90% bonus tax is deadly for big banks, now here’s the next hysteria wave says The Economist: Shocking though the bonuses have been, they pale in comparison with the $49.5 billion of payments that AIG has made to counterparties in its

Goldman Returning TARP Funds? Status of “Suicidal” 90% Bonus Tax.

In the context of proposed legislation to tax Wall Street bonuses at 90%, Goldman Sachs head Lloyd Blankfein is reportedly going to return $10b in TARP funds his firm received. Another unnamed Goldman exec said “It’s just impossible to run our business in this environment,” which is an understatement given the shortsighted proposal for such