High profile mortgage industry lawsuits will continue for some time and I’ll continue covering them. Here are three lesser known suits that have bubbled up. (1) Taylor, Bean & Whitaker: the gift that keeps on giving. Most, if not every, mortgage company has an accounting firm. In what could be a very closely watched case, [...]
Posts Tagged ‘Fitch’
ID Protection CEO’s ID Stolen 13 Times, Reinventing The Ratings Agency, Status of Financial Reform Bill
Why You Shouldn’t Give Out Your Social Security Number On The Radio Does the name “Todd Davis” ring a bell? He is the CEO of a company called LifeLock, and he made the news a while back by broadcasting his Social Security Number in radio ads to show confidence that his identity couldn’t be stolen. [...]
Rates Up on New Home Sales Of +27%, Can We Trust Ratings Agencies For New Mortgage Securities?
Rates Up On New Home Sales & Durable Goods Numbers Today we had Durable Goods (very volatile) and a big New Home Sales number. Durable Goods were expected to be +.3% for March and originally reported as +.5% in February, the third consecutive monthly increase (although most of the gain in February’s number was due [...]
Fed Rate Stimulus Ends March 31. Impact On Mortgage Shoppers.
As most know from our weekly coverage over the last 64 weeks, the Fed has been using a $1.25 trillion budget to buy mortgage bonds since January 1, 2009 in order to elevate mortgage bond prices and push rates down. Rates are 1.125% lower than they were when the program was announced, and the Fed [...]
2 Weeks and $10b Left In Fed’s $1.25t Rate Stimulus Program. What Now?
This report covers weeks 62-63 of a mortgage bond purchase program by the Federal Reserve—here’s weeks 60-61. In the last two weeks, the Fed bought $20b net of mortgage bonds as follows: $10b March 4-10, $10b March 11-17. For the past 6 months, the Fed has focused most of its weekly buying on 4.5% and [...]
