Mortgage Info for Homes and Small Business Financing

Greenspan’s "flaw in the model … that defines how the world works."

•  Still chuckling over Allen Greenspan’s “shocked disbelief”…

•  PNC Financial Services is expecting big losses from National City purchase.

•  Surprise: Existing Single-Family Home Sales Rise 6.2% in September to highest level in more than a year.

•  Rising delinquencies in the second home market?

•  FDIC controlled Indy Mac mails 15,000 loan modification proposals to its borrowers.

•  Treasury Dept is eyeing the FDIC proposal which includes using credit enhancements as a tool to encourage loan modifications.

•  Foreclosure filings up 71% in 3rd quarter from 2007’s third quarter.

•  Another investment banker gets a TARP Position:  the current Export-Import Bank chief is named interim chief investment officer.

•  The FHFA says home prices for ‘Pacific’ states have fallen 19.4% over the past year.

•  Bless their hearts – the MBA calls for extending the ‘temporary’ hike in Fannie Mae and Freddie Mac loan limits.

•  Yay!  Rates are starting to react to the lower than expected inflation (i.e. energy markets) and the weak housing market.  Mortgage rates have been heading lower.

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