Jay Leno said, “California finally passed a budget. Now Californians can go back to doing what they do best … buying homes they can’t afford.” Little do they realize how much the rest of the nation believes this to be true. Dow Hammered, Home Prices Record Drop Not only Californians but everyone else in the
Suntrust
Here’s your financial vocabulary lesson for today: “Liquidity” – When you look at your investments and wet your pants. More Firms Close Mortgage Broker Channel First Federal of California is the latest lender to close their wholesale channel to brokers. I imagine the following announcement prompted yet another round of rumors and calls to the
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
We had some foreclosure news out this morning, saying that foreclosures were up. Is that news? On the Jobless Claims front, however, the number of Americans filing first- time claims for unemployment benefits rose last week by 15,000 to a larger-than-forecast 478,000. This is up from a revised 463,000 the prior week. The number of
Up until recently I lay awake at night, wondering if I got cheated when I had to make my standard mortgage payment in February, since it only has 28 days. A California appellate court has rejected a class action lawsuit by Julie and Kenneth Puentes claiming Wells Fargo unfairly treated customers in its calculation of
A jumper cable walks into a bar. The bartender says, “I’ll serve you, but don’t start anything.” Today’s Market News The GDP is the sum of all goods and services produced in the U.S., and is considered to be the best indicator of economic growth. The first revision to the 1st quarter GDP came out