Results tagged “mortgages” from Dealbreaker
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Citi's Liar Loan Division To Take 2 Week Break
Jun 24, 2009, 9:37am
Posted by Greg Michaels
Citi's correspondent lending division, which produced $58.5 billion in mortgages last year and probably had a hand in the $28 billion in losses last year, recently sent out a letter to clients notifying them that the unit is shutting down...
The Next Mortgage Mess
Jun 18, 2009, 2:04pm
Posted by Greg Michaels
If the mortgage market blows up again, the FHA told you so. Faced with record high demand for government backed home loans, the FHA is concerned that it can't properly handle the additional volume and is going to get picked...
Back To The Future
Mar 24, 2009, 10:07am
Posted by Equity Private
We really aren't that sure how to greet this news, considering that we aren't really sure that another $3 trillion in lending transactions is exactly what we need right now. But, then again, it does feel like 2005 for the...
Dive! Dive! Dive!
Mar 18, 2009, 10:42am
Posted by Equity Private
We've heard mixed stories about the effect of being "underwater" on home equity. We've heard that owners are likely to walk away, leaving the keys and moving on, and we've heard that it makes little sense to bail out on...
Hamptons Home In Discount Bin
Posted in The Hamptons, Jun 26, 2008, 3:36pm
Posted by Bess Levin
Late last year, an 18,000 square foot Bridgehampton house suffered the humiliation of foreclosure, an indignity that's supposed to be reserved for Ed McMansions in California. Adding insult to injury is the news that the home, which features 8 bedrooms,...
Our Obsession With Ownership
Notes From The Ruins Of The Ownership Society
Jun 23, 2008, 3:46pm
Posted by John Carney
Homeownership is overrated and the government went too far in pushing it on the American people, Paul Krugman writes in today's New York Times. He suggests it's time for America to "drop the obsession with ownership." We couldn't agree more....
Did Bank of America Write The Bailout Bill?
Jun 23, 2008, 2:08pm
Posted by John Carney
It turns out that the housing bailout bill really is "exactly what Bank of America and Countrywide wanted." A memorandum dated March 11, 2008 has surfaced, and it seems to support the idea that BofA essentially wrote the bailout section...
Countrywide Troubles For Bank of America
Posted in Countrywide, Jun 17, 2008, 11:31am
Posted by John Carney
Does Bank of American big man Ken Lewis know what he's getting into with Countrywide? The recent news tying former Fannie Mae chief executives to sweetheart loans from Countrywide may result in the home lender getting cut off from the...
John Paulson Now Shorting Individual Mortgages of Down-on-Luck Friends in Hamptons
May 12, 2008, 4:48pm
Posted by Bess Levin
You know what’s something that used to be considered gauche but is now de rigueur with the Hamptons set so you know it’s cool? Not paying your mortgage. Apparently a bunch of Hamptons residents have been neglecting to send their...
Advice
May 08, 2008, 4:18pm
Posted by Bess Levin
Obviously all the homeowners who read DealBreaker bought their pads in cash, but for the one or two of you with mortgages, listen up: make those payments. And we don't say this because we care about you losing your house...
Citi: We’ve Run Out Of Suckers On The Outside, Any Takers In Here?
Mar 28, 2008, 12:20pm
Posted by Bess Levin
From: employeediscountnews@citi.com To: employeediscountnews@citi.com Sent: Friday, March 28, 2008 10:29 AM Subject: Employee Discount News: Citi Employee Mortgage Program As a U.S. employee, you may be eligible for Citi and other partner products and services at special employee rates. Employee...
Was Thornburg Brought Down By Irrational Markets and Mark To Market Accounting?
Mar 07, 2008, 2:33pm
Posted by John Carney
That's what David Gaffen implies when on the Market Beat today. And herein lies the peril of mark-to-market accounting. The company says “difficult market conditions that have resulted in a significant deterioration of prices of mortgage-backed collateral.” Market strategists have...
Job of The Week: Mortgages!
Posted in DealBreaker Career Center, Feb 25, 2008, 5:45pm
Posted by John Carney
We like to end every week with a special gift for our readers: we’re finding you a new job. So we spent part of the afternoon combing through our Career Center in search of the most interesting jobs. There are...
