Georgia Bank Closed By FDIC Today - 08/29/08 11:09 PM
I just posted a report stating another bank failed today in Georgia called..
Integrity Bank of Georgia Fails Today
The FDIC closed the Alpaharetta region bank with 1.1 Billion still on the books as assets. The bank has over $900 million in deposits which will go over to Regions Bank.
Read the … (4 comments)
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The First-Time Home Buyer Tax Credit - Opportunity Lost - 08/29/08 04:38 PM
I just posted an article on my outside mortgage blog on the first time home buyer tax credit and how Congress got it wrong called...
First-Time Home Buyer Tax Credit Offers Little Housing Stimulus
I propose a different tax credit that would have really motivated buyers to step back into the market … (0 comments)
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NY Real Estate Mogul Indicted - Mortgage Fraud Alleged - 08/28/08 11:18 AM
A New York real estate investor, Adam Hochfelder was arrested today on charges he allegedly used misinformation to acquired $17 million in loans to keep his sinking real estate empire afloat. Bank of America was named as one of the banks ripped-off by Mr. Hochfelder.
Read the post here...
Adam Hochfelder - … (1 comments)
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Hope Now Numbers Unreliable - 08/27/08 03:19 PM
I just finished an article on the Hope Now Alliance who Bush hailed as the savior of the foreclosure crisis since they trotted out their unbelievable "foreclosures prevented" number today...
The Hope Now Alliance is a glorified collection agency for the big lenders and servicers...opting for repayment plans for foreclosure victims … (0 comments)
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Another Bank in Trouble - 08/27/08 11:55 AM
I just finished an article about National City Corp...a big regional bank and former big player in the wholesale mortgage market. I personally never brokered loans to National City, but I know many who did. They are now in some hot water with the OCC and their own shareholders who filed … (2 comments)
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Mortgage Servicing Company Reviews - 08/25/08 05:02 PM
With foreclosures in full swing across the country, I decided to research and review mortgage servicing companies. This is the first phone call to be made once it appears a foreclosure is likely. Mortgage servicing companies are the companies consumers make their payment to...and they, even if they aren't the actual … (1 comments)
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Lehman Brothers Maybe On Auction Block - 08/22/08 10:27 AM
I just finished a post on a Korean Development Bank buying Lehman Brothers...the US's fourth largest securities firm. This is a Korean government run bank that wants to privatize in a few years...it sounds fishy...
Does Korea Development Bank Aquisition Solve Lehman Brothers Subprime Woes?
I'm sure Korea thinks they are … (0 comments)
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Question on McCain's Houses Draws Fire - 08/21/08 03:38 PM
I just finished an article on a gaff McCain made about how many houses he owns...you gotta read..
McCain Houses - Obama Calls Opponent Out of Touch
Not knowing the number of houses you own...or the appearance you are out of touch with economic issues will be the kiss of death … (2 comments)
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Common Man's Mortgage Terms Explained - 08/20/08 09:10 PM
I recently created a Glossary of mortgage terms written in "common man's language". In other words and easy to under set of mortgage term definitions which we will add to on a regular basis. Surprisingly, I decided to create this mortgage glossary due to the fact everywhere I went on the … (0 comments)
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Servicing Company Complaints - 08/20/08 08:07 PM
I wrote a review of one of the nation's largest servicing companies...America's Servicing Company...or ASC...complete with all the complaints, contact info, etc called...
America's Servicing Company Review
Knowing how servicing companies work whether you need a loan modifications or just want to confirm reciept of payment...read
America's Servicing Company Review
Click over now and … (3 comments)
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Mortgage Fraud Ring At It Again! - 08/20/08 05:48 PM
I just finished a post on a Texas mortgage fraud ring busted for the second time...called ...
Texas Attorney General Busts Mortgage Fraud Gang - Again!
Talk about nerve...these guys committed the same mortgage frauds while out on bail!
Sad but hilarious at the same time these 4 four brain trusts … (0 comments)
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Email Phishing Attack on Bank Customers - 08/20/08 03:15 PM
Another fraudster is out to get credit card information from unwary bank customers using a phishing attack in an email spam...my article on this is called..
Salin Bank - Email Steals Your Account Information
Phishing attacks are usually done with websites but this one is perpetrated using a voice messaging system...read … (0 comments)
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Monthly Unemployment Numbers Deceiving... - 08/17/08 01:59 PM
I just finished an article demonstrating how the media reports the bad news over all the news whenever the opportunity arises...called...
Monthly NC Unemployment Statistics Are Misleading
I show not only North Carolina numbers but compare it to many states...and I also noticed an interesting correlation between jobs and home values....interesting...so … (0 comments)
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Banks Offering Big Incentives To Attract Depositors - 08/15/08 01:26 PM
I just finished an article on the incentives banks are offering to attract new depositors called...
PNC Bank $100 New Customer Bonus May Spell Trouble
It's sounds good, but it begs the question, "Why do they need the capital?"....are they in trouble?
Click over and read...
PNC Bank $100 New Customer … (0 comments)
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Mortgage Mess Spreads to Auto Financing - 08/15/08 11:57 AM
The mortgage mess has now spread to the auto industry called....
Chrysler Financial - Mortgage Crisis Caused Credit Crunch Spreads To Autos
Needing to raise capital Chrysler Financial found out the hard way...it's not as easy has it once was...
Click over and read ...
Chrysler Financial - Mortgage Crisis Caused … (0 comments)
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Credit Scores More Important Than Ever - 08/13/08 05:31 PM
I just finished a post on credit scores and the increased importance lenders are giving them called...
Fico Score - Gateway To Mortgage Approval And Better Rates
Minimum credit scores are set for "declining areas"...and costly discount point or rate bumps are added for those in riskier borrowers...click the link and read...
… (0 comments)
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Credit Card Companies Hit By Mortgage Mess - 08/13/08 02:08 PM
I just finished an article on how other financial companies, specifically Discover Card is getting hit my the mortgage crisis called...
Discover Card - Mortgage Mess Spills Over
This plus other other information on JPMorgan posted losses this week are out and it's pretty ugly too...so click over and read ...
… (0 comments)
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Signs of Life For Luxury Home Builder - 08/13/08 10:40 AM
I just posted a new article on my mortgage website called...
Toll Brothers Inc Report Offers Ray Of Hope
which discusses the new revenue report on the US largest luxury home builder Toll Brothers...it has a few surprises ....so click over and read...
Toll Brothers Inc Report Offers Ray Of Hope
I … (1 comments)
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Percentage of Home Underwater Shocking - 08/12/08 02:01 PM
I just finished an article on my outside mortgage advice website on the new numbers of homes with negative equity out today...and it's pretty shocking...it's called..
Negative Equity Insures Downward Spiraling Logjam in Housing Prices
I cover the reasons for the negative equity and the impact it has on the market … (1 comments)
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New Home Builder Created Ghost Towns - 08/12/08 12:53 PM
I just finished an article on my mortgage blog about the dangers of buying new construction homes in this credit crunch market called...
Kirkway Estates Exemplifies Dangers In Buying New Homes
It demonstrates all the dangers using development outside Detroit called Kirkway Estates....click over and read this article if you are … (3 comments)
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Servicer of First Horizon Home Loans Rated One of the Weakest Banks in US - 08/11/08 12:10 PM
I just finished an article on First Tennessee Bank who handles servicing for First Horizon Home Loans called...
First Tennessee Bank Owned By First Horizon National Corporation Rated Weak
The article discusses some new research outlining the weakness of the nations biggest banks...and it's shocking. Jump over and read about this … (2 comments)
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Fannie Mae today reported a $2.3 Billion loss - 08/08/08 12:28 PM
I just posted a report on Fannie Mae's continued troubles called...
Fannie Mae Posts Larger Than Expected Loss
The conventional loan mortgage insurer is still hemmoraging money...click over and read all about it...
Fannie Mae Posts Larger Than Expected Loss
After last weeks new law, we know they won't go under...but … (0 comments)
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Another Bond Insurer Playing Games With Earnings - 08/08/08 11:34 AM
I just finished an article posted on my mortgage advice blog how MBIA posted a huge gain after using a new tax law called...
MBIA Inc - Another Bond Insurer Posts Unexpected Gain
This is the second company with exposure to the subprime mortgage market to make things seem rosier than … (0 comments)
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Reverse Mortgage Changes - Media Gets It Wrong - 08/06/08 01:09 PM
I just finished a post on my mortgage blog about the new max loan limits and how the media is touting as a "gift" to the elderly...called
Reverse Mortgage Dangers - Making Grandma Homeless
Folks ...even industry folks...don't understand all the ramifications of the reverse mortgage...so how is Grandma supposed to figure … (1 comments)
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Bond Insurers Still Can't Stop Lying... - 08/06/08 10:31 AM
Ambac a big bond insurer responsible for giving mortgage backed securities the ratings they needed to be sold by Wall Street infecting the world with bad debt...one of the hidden players in the mortgage meltdown...today posted an earnings gain of $800 million...which seemed strange....until you look deeper...
The new post is called...Ambac … (0 comments)
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Fed Decision on Rates Lacks Vision - 08/05/08 03:23 PM
I just finished a post on FOMC decision to keep rates at 2% ...even in the light of high oil and commodity prices called...
Fed Decision To Hold Rates Steady Shows No Courage
Ignoring inflationary pressures today is like walking through a mine field instead of clearing it...click over and read
… (0 comments)
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Spammers Using Bogus Mortgage Servicer Email To Spread Virus! - 08/05/08 02:05 PM
I just finished a post on a spam campaign using a service company email...a bogus email to get you to download a virus...called
Carrington Mortgage Services LLC Bogus Email Downloads Virus
Don't' fall for the ruse...read all about it here...
Carrington Mortgage Services LLC Bogus Email Downloads Virus
Even though Carrington … (0 comments)
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Triad Guaranty - Mortgage Insurer Ceasing New Business - 08/05/08 11:20 AM
I just finished a post on my mortgage blog about TGIC posting huge 2nd quarter losses called
TGIC - Triad Guaranty - Mortgage Insurer Down $198 Million
The company in light of these losses suspending writing new policies...so click over and read
TGIC - Triad Guaranty - Mortgage Insurer Down $198 … (0 comments)
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IndyMac Makes It Official - Chapter 7 Filed - 08/04/08 03:02 PM
I just reported on IndyMac's bankruptcy filing and the real causes on my mortgage blog called
IndyMac Bancorp Bankruptcy Filed - Thanks Senator Shumer!
Nobody is sure whether IndyMac would have survived if they had been left to sort out their problems...but one thing is certain...
They were never given the chance! Senator Shumer … (3 comments)
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Banks Too Slow To Act - Credit Crisis Extended Indefinitely - 08/04/08 12:29 PM
I just finished a post on my outside mortgage blog on the slow action of the Wall Street firms and the banks which will extending the current credit crisis called...
Meredith Whitney Says Banks Not Facing Mortgage Meltdown Reality
Ms Whitney a Wall Street analyst makes the case ...a case I've been … (0 comments)
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Historic Landmark For Sale for $1! - 08/03/08 11:15 AM
The government is selling a lighthouse for a $1! Read more on my mortgage blog under
Lighthouses For Sale - Government Dumping Connecticut Landmark for $1!
There's a catch...of course...there always is with the Government...read all about it at
Lighthouses For Sale - Government Dumping Connecticut Landmark for $1!
Actually this … (0 comments)
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Florida Regional Bank Shut Down Friday - 08/02/08 11:31 AM
The FDIC shut down a Florida regional bank on Friday turning it's assets over to SunTrust...the mega-bank out of Atlanta. Here's the link on my mortgage blog...
First Priority Bank Shut Down in Florida - Smells Fishy
You'll need to click over and read the article, but it seems to me...there … (0 comments)
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