WHY PEOPLE MOVE Among those who moved between 2009 and 2010, Census said almost 44% of them (16.4m) did so for housing-related reasons, such as the desire to live in a new or better home or apartment. Thirty percent moved for family reasons (including marital status), and 16% for employment. In 2010, 37.5m people 1
Bank Earnings Banks have virtually doubled 3Q earnings by injecting $8.1 billion into net income from funds they had set aside to cover loan losses. The 18 commercial banks with at least $50 billion in assets earned an adjusted $17 billion in the third quarter – almost half of which came from reducing their loan-loss
The woman applying for a job in a Florida lemon grove seemed way too qualified for the job. “Look Miss,” said the foreman, “have you any actual experience in picking lemons?” “Well, as a matter of fact, yes!” she replied. “I’ve been divorced three times.” 3 Bits of Good Mortgage Industry News We had three
Later today, results of the government conducted stress tests on the nation’s 19 largest are likely to reveal that some of these banks will need about $65 billion in additional capital, maybe more. Banks who need to raise money to cover potential losses in the coming two years are as follows: Bank of America Bank
The big 3 Detroit automakers now say they need $34 billion to fix the industry. The base price is still $25 billion, but they say they need another $9 billion for parts and labor. 4.5% Rates, What 4.5% Rates? Every loan agent and broker in the United States who is trying to move their borrowers
Below is a summary from CNBC of the banks who have signed up for the Treasury’s $250b in re-capitalization plan that’s part of their Troubled Asset Relief Program. This is beyond the initial nine banks who got $125b to kick start the re-capitalization plan. The $700b TARP program was first designed to handpick illiquid MBS
More mortgage company closures as credit gets tighter.