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Household Reaction to the Financial Crisis: Scared or Scarred? - 05/19/10 12:34 PM
Household Reaction to the Financial Crisis: Scared or Scarred?
Author: Joe Peek
Summary: The current financial and economic crisis has been characterized as the worst since the Great Depression. While the crisis may be bottoming out, its effects may linger for quite some time. After all, the Great Depression left an entire generation of Americans scarred by their experiences. Times were good, the stock market was booming, and then suddenly it all fell apart. The stock market collapsed, firms went bankrupt, jobs disappeared, large numbers of banks failed and confidence in the economy withered. Many Americans faced poverty and a desperation … (0 comments)
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Commercial/Multifamily Mortgage Originations Increase First Quarter 2010 MBA Report - 05/19/10 12:26 PM
Mortgage Bankers Association's (MBA)
Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations
5/18/2010
Report Highlights:
New commercial and multifamily mortgages increased 12 percent from last year's levels. On an absolute level, volumes remain low, with significant variations between investor groups. Originations for CMBS conduits and life insurance companies increased dramatically on a percentage basis - coming off of very low bases. Originations for Fannie Mae and Freddie Mac, which had remained robust through the credit crisis, fell by almost half. Read the Full Report
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Lee County FL Foreclosure Filing Summary - 05/19/10 12:14 PM
WEEKLY MORTGAGE FORECLOSURE FILINGS REPORT
FILED BETWEEN 05/10/10 AND 05/14/10
05/10/10 Monday 38
05/11/10 Tuesday 26
05/12/10 Wednesday 40
05/13/10 Thursday 43
05/14/10 Friday 53
Weekly Total 200
Commercial 7
Homestead 109
NonHomestead 84
Weekly Total 200
Source: leeclerk.org
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Fannie Mae’s 2010 Q1 Report - 05/16/10 03:07 PM
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
QUARTER 1 REPORT
Washington, D.C. 20549
TABLE OF CONTENTS
PART I-FINANCIAL INFORMATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Item 1. Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . … (1 comments)
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Q1 report to Congress on the Emergency Economic Stabilization Act (EESA) - 05/16/10 02:44 PM
Financial Stability Oversight Board (Oversight Board)
Q1 report to Congress on the Emergency Economic Stabilization Act (EESA)
The report highlights the activities of the Oversight Board during the first quarter, and evaluates the effects thus far of the policies and programs implemented by Treasury under the Troubled Asset Relief Program (TARP)
The Oversight Board indicates its belief that the accumulated effects of Treasury's actions under TARP contributed significantly to continuing recovery in many financial markets during the first quarter, although credit volumes continued to exhibit weakness both for nonfinancial businesses and households. Housing market conditions remained difficult.
Read the Full Q1 Report
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Florida's Economic Forecast Q1 2010 - 05/13/10 11:13 PM
Florida's Economic Forecast
Q1 2010
"The first quarter data release from the Florida Realtors paints a picture of a housing market continuing down the long road to recovery," said Dr. Sean Snaith, director for the University of Central Florida's Institute for Economic Competitiveness. "Transactions in the single family market have extended quarterly year-over-year gains for nearly two years, and condo sales have also risen sharply."
While sales have increased, median prices in most areas of the state have decreased, Snaith noted. However, he said the rate at which prices are falling has diminished significantly, which is an indication that a … (1 comments)
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"Strategic Approach Toward Sustainable Housing Recovery" from HUD - 05/13/10 10:09 PM
"The Strategic Approach Toward Sustainable Housing Recovery"
The U.S. Department of Housing and Urban Development (HUD) has set five specific goals which, the department's secretary said, will guide the agency's operations through the next five years.
Secretary Shaun Donovan has unveiled the agency's Strategic Plan which he called a "roadmap" to creating "strong, sustainable, inclusive communities and affordable homes for all."
HUD's goals:
Strengthen the Housing Market to Bolster the Economy and Protect Consumers Meet the Need for Quality Affordable Rental Homes Utilize Housing as a Platform for Improving Quality of Life Build Inclusive and Sustainable Communities Free from Discrimination … (0 comments)
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Have you heard about the HOPE "LoanPort" - 05/13/10 09:45 PM
Hope Now Alliance has launched a new website to bring attention to both the Home Affordable Mortgage Program (HAMP) and other loan modification programs.
The site, nicknamed HOPE "LoanPort" is located at:http://www.hopeloanportal.org/
HUD believes the new site has the potential to significantly improve the execution of modifications by providing the following benefits:
Eliminate lost documents. It is designed to address addresses servicer challenges in receiving applications, and counselor challenges in sending applications and documentation. Standardization - The site will collect complete HAMP applications that include all required data elements and documentation Communication - Servicers can update the status of in-process modifications … (0 comments)
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National Housing Survey - 05/06/10 07:57 PM
Housing and the Economy Highlights:
Eight in ten respondents consider homeownership important to the economy. Only 31 percent think that the economy is on the right track, but 44 percent expect their personal financial situation to improve in the next year. Delinquent borrowers are even more optimistic about the future, with 63 percent expecting they will be in a stronger financial position in the next year. Nearly two-thirds of respondents (64 percent) think it is a good time to buy a house, and nearly one in three (31 percent) think now is a very good time to buy a house. … (0 comments)
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Freddie Mac Reports First Quarter 2010 - 05/06/10 07:28 PM
Freddie Mac Reports First Quarter 2010
Financial Results Company Continues to Provide Critical Support for the Housing Market Net Worth Adversely Impacted by Changes in Accounting Principles Highlights:
First quarter 2010 net loss was $6.7 billion. The Federal Housing Finance Agency (FHFA), as Conservator, will submit a request on the company's behalf to Treasury for a draw of $10.6 billion under the Senior Preferred Stock Purchase Agreement (Purchase Agreement). Total single-family delinquency rate, including Structured Transactions, was 4.13% at March 31, 2010, compared to 3.98% at December 31, 2009. The first quarter delinquency rate was positively impacted by seasonality … (0 comments)
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Federal Reserve April 2010 Senior Loan Officer Opinion Survey on Bank Lending Practices - 05/06/10 07:11 PM
Federal Reserve April 2010 Senior Loan Officer Opinion Survey on Bank Lending Practices:
56 U.S. banks responded to the Fed survey 31 were classified as large banks 25 were labeled as "other banks." Loans secured by residential real estate:
79% +/- of the banks reported essentially no change in their standards on prime mortgages over the past three months. Less than three banks reported originating subprime residential mortgages 33 said they no longer originated nontraditional mortgages (Ex: ARM's, I/O mortgages, and Alt-A) Commercial real estate (CRE) loans:
Domestic banks continue to tighten CRE loan standards. Only 1 bank has eased up on credit … (0 comments)
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Survey of Emerging Market Conditions Q1 2010 - 05/05/10 09:20 PM
Warrington College of Business Administration & University of Florida
Survey of Emerging Market Conditions
Highlights:
The outlook for occupancy and rental rates indicates that our respondents expect stabilization across most property types. Cap rates have declined modestly over most property types. Required yields have declined over most property types. The outlook for investment remains mixed for all property types. Respondents' own business outlook continues to improve across all professions in the industry. Q1 2010 Survey Report
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Global Economic Prospects: L- or V-shaped Recovery? - 05/05/10 08:46 PM
Global Economic Prospects
L- or V-shaped Recovery?
What causes recessions?
Negative shocks. Economy likes to move forward at some reasonable pace as productive capacity expands and then, whammo, something comes along that knocks it off track.
What causes recoveries?
The shocks dissipate and the natural process of economic recovery takes over, often aided by a policy stimulus, at least in the postwar period.
To read the full transcript, which is full of terrific informaiton click here.
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Is this a V Shaped recovery? - 05/05/10 08:37 PM
Do We Have a V-Shaped Recovery?Liz Ann SondersSenior Vice President, Chief Investment Strategist, Charles Schwab & Co., Inc. Key points
Optimism is growing, but still debated. The list of V-shaped economic statistics is growing. Look at bottom-up indicators, not just top-down ones. Investors ignore the numbers or the market at their own peril. Click here to read the rest of the article
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Paige Rausch
Fort Myers,
FL
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Boback Commercial Group
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