London mortgage fraud investigation

City of London Police have launched an investigation into allegations of commercial and residential mortgage fraud in London ... and solicitors, are obtaining fraudulent mortgages, enabling them to build multi-million pound commercial ... , are widely available online. The Council of Mortgage Lenders (CML) yesterday confirmed that lenders [more...]

Date: 2007-08-30 11:06:46
Blog: Renthusiast.org...

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Cadwalader, Wickersham & Taft's Legal Malpractice Case

Anthony Lin, in the NYLJ, reports on this securities based legal malpractice law suit: " ... assets or revenue streams, most commonly residential or commercial mortgages. Nomura Asset ... transaction in which Nomura pooled 156 commercial mortgages worth around $1.8 billion. At issue [more...]

Date: 2007-09-26 10:37:12
Blog: Legal Malpractice Attor...

The Role of Structured Investment Vehicles in the Recent Financial Crisis

First, news that liquidity problems in the financial sector are continuing followed by an explanation of why the crisis is so widespread: ... reluctant to finance companies’ short-term borrowing needs due to the subprime mortgage contagion ... of Outstanding Commercial Paper Falls, by Anusha Shrivastava : The outstanding level of commercial [more...]

Date: 2007-09-06 18:25:00
Blog: Economist's View...

HousingPANIC Stupid Question of the Day

Did you change your investment strategy after Bernanke panicked, destroyed the dollar, and cut rates 1/2 point? (Hint... you still have time ... point since the Depression' as fallout from the US subprime mortgage crisis crimps access to credit, said Ethan Penner, a pioneer of the $600 billion commercial mortgage-backed securities market [more...]

Date: 2007-09-26 19:01:14
Blog: HousingPANIC: The Housi...

JustQuotes: Don’t Shoot (But Feel Free To Debate) The Messenger(s)

“A recession within the next 12 months is likely and its impact on the Bay Area will be "sharp but short" ... economy. Among them is the commercial real estate market, Haveman said. Low interest rates allowed ... of mortgage-backed securities in the commercial market, the forecast said. "The same excesses [more...]

Date: 2007-09-28 18:06:20
Blog: San Francisco real esta...

Cyberinsurance in IT Security Management

One more thought before I retire this evening. I really enjoyed reading Cyberinsurance in IT Security Management by Walter S ... with the overall public good. A building owner must have fire insurance to obtain a mortgage or a commercial ... standards, which can involve visits from local government and insurance company inspectors [more...]

Date: 2007-09-29 04:34:46
Blog: TaoSecurity...

Are you looking to buy a home?

My readership stats tell me that over 70% of my visitors come from the US and Canada, ... the big commercial mortgage place, refuse to even speak to you. So if you are interested in Buying ... Mortgage Brokers company that is offering zero down mortgages in Canada. MyCanadaMortgage.com [more...]

Date: 2007-04-15 05:31:16
Blog: of travels and travails...

My Banker Did It!

Last night, when I was heading out to the store to repair a broken machine, my banker called. As you may recall I was ticked about an adjustment being made to our commercial mortgage, which is on a 5 year adjustable. After, sending my banker a friendly email, she caught me at the teller [more...]

Date: 2007-09-25 15:37:06
Blog: Dedicated to Financial ...

Who was that masked analyst?

The world's stock markets went on a roller coaster ride this week, ... ? The Wall Street Journal online, in what you could call an abridged profile of Bruce, suggests the Merrill Lynch analyst was more worried about problems in the commercial paper market, where mortgage [more...]

Date: 2007-08-17 22:37:01
Blog: Inman News Blog...

Eight Items or Less: Radiohead Goes Digital, Mo Pitkins Goes Bye-Bye and Cavemen Goes Primetime

1. Radiohead has not only upset the music biz applecart, they are also stomping on the apples ... 3 and you can pay whatever you want. This has set off a media analysis not seen since the sub-prime mortgage ... television adaptation of the Geico commercial, premieres tonight at 8 p.m. EST. No screeners of tonight’ [more...]

Date: 2007-10-02 22:00:08
Blog: PAPERMAG: WORD UP!...

Welcome To Ponzi Scheme 101

We all know what Ponzi Schemes are. Now apply this scheme to world economics ... , you take a bunch of shaky and risky subprime mortgages and repackage them into residential mortgage ... investment vehicles) or into ABCP (Asset Backed Commercial Paper) or into money market funds. Then no wonder [more...]

Date: 2007-09-18 22:11:49
Blog: Real Estate Zealot...

The Perils of Providing for Entry into a Contract on “Customary” Terms

In this September 2006 blog post I examined the phrase form and substance, ... and substance customary in commercial mortgage defeasance transactions.” In this context, the word customary [more...]

Date: 2007-07-12 14:30:12
Blog: AdamsDrafting ...

Week in Review #39 (2007-09-29)

On the confidence scale, traders are somewhere between concern that past indiscretions among mortgage loan syndicators and commercial bankers could weigh too heavily on credits markets, causing [more...]

Date: 2007-10-01 17:16:00
Blog: Bill Cara: Capital Mark...

Ask Curbed: Can I Still Deduct the Mortgage Interest?

2007_09_Calculator.jpg So, let's say that one is buying a coop in a building with a lot of commercial tenants--a whole lot of them ... and he mortgage broker. Is it true? What would you do in such a situation?The answers ahead ... from commercial tenants, violating the so-called 80-20 rule. I have been clearly told that none [more...]

Date: 2007-09-24 19:31:13
Blog: Curbed : The New York C...

Schorsch and REITs: Not dead, yet

CORRECTION: PhillyInc incorrectly stated that Nicholas S. Schorsch had been the chief executive of First Fidelity Bancorp ... about the meltdown in the subprime mortgage market. The concerns have also have reached the commercial area. CB Richard Elis Group Inc., the largest commercial real estate broker, was downgraded yesterday [more...]

Date: 2007-09-12 17:36:19
Blog: phillyinc...

BB&T to buy commercial mortgage company

Banking giant BB&T Corp. will buy Collateral Real Estate Capital of Birmingham, Ala., and combine it with its Laureate Capital division in Charlotte. [more...]

Date: 2007-08-23 15:02:46
Blog: Charlotte Business Jour...

'THEY WILL DEEM THE USDOLLAR AS A SUBPRIME CURRENCY, AND ITS OBVERSE THE USTREASURY AS A SUBPRIME BOND'

GOLD & SUBPRIME DOLLAR BACKLASH by Jim Willie CB September 6, ... . The contagion seems absolute in more clear fashion. At risk next are commercial mortgages [more...]

Date: 2007-09-07 16:40:32
Blog: CRIMES AND CORRUPTION O...

Schorsch and REITs: Not dead, yet

Nicholas S. Schorsch, who was ousted last year from the REIT he founded, American Financial Realty Trust, doesn't see the $1 ... this year amid worries about the meltdown in the subprime mortgage market. The concerns have also have reached the commercial area. CB Richard Elis Group Inc., the largest commercial real estate broker [more...]

Date: 2007-09-11 16:11:38
Blog: phillyinc...

Christine Donohue

Let's face it. Loads of folks go into the polls who have no clue who's running for various judicial offices ... and has been an accomplished attorney specializing in commercial litigation for leading firms in Pittsburgh ... Estate/Probate/Wills/Intestate: 105 Mortgage Foreclosure: 61 Protection from Abuse: 62 Simple Assault [more...]

Date: 2007-10-01 21:22:36
Blog: 2 Political Junkies...

Who's Holding The Bag?

There is an interesting article in the Financial Times article about Liquidity Threats and who is holding the toxic tranches. Following is a snip ... stuff is worth 85-90 per cent of face value at best, what is the value of the $750bn of mortgage-backed securities said to be held in US commercial banks' balance sheets? The toxic tranches [more...]

Date: 2007-07-04 16:51:11
Blog: Mish's Global Economic ...

Subprime Hazards Lurk In Special Pipelines Held Off Bank Balance Sheets

Conduits' in Need of a Fix By DAVID REILLY and CARRICK MOLLENKAMP August 30, 2007; ... , accounting for about half the commercial-paper market. These notes can include some subprime mortgage ... Page C1 The subprime-mortgage downturn keeps showing up in unexpected places in unusual ways [more...]

Date: 2007-08-30 20:35:38
Blog: CRIMES AND CORRUPTION O...

Home loans, mortgages and debt consolidation

Before committing to any mortgages, know your financial situation and take your time to do some research on home loans to find a program that fits ... not bother to be informed of details such as closing costs and did not consider mortgage payment protection ... This Feed is for personal non-commercial use only. If you are not reading this material in [more...]

Date: 2007-09-14 08:49:03
Blog: emigrestudio.com...

Growing fast in a slow market

Phoenician Properties Realty, a real estate company that caters to move-up buyers in the Phoenix area, ... in "nationwide mortgage refinancing of loans averaging $250,000 for residential and commercial properties ... financing from state pension funds, a university endowment and 12 company principals to purchase, develop [more...]

Date: 2007-08-30 23:20:40
Blog: Inman News Blog...

"Mind the Gap" and the 1980s S&L Crisis: Financial Turmoil 21st Century-Style

Make no mistake, what we've got today is a mess. And it is hard to put your finger on any one thing and say "this is the proximate cause" ... a window of opportunity for businesses and consumers alike through: Cheap consumer mortgage loans ... , illiquid asset vehicles funded by short-dated commercial paper), said the following: But while risk [more...]

Date: 2007-09-09 20:31:31
Blog: Information Arbitrage...

Short Sales in Phoenix, Arizona

About two weeks ago I went to a short sale seminar sponsored by Grand Canyon Title company. I learned a lot in this seminar ... Mortgage Guru). This Feed is for personal non-commercial use only. If you are not reading [more...]

Date: 2007-10-01 17:19:59
Blog: Arizona Mortgage Guru ...

Are You Impressed by Lexus?

Are You Impressed by Lexus? Filed under: General — Bob Bly @ 7:50 pm A recent radio commercial for Lexus says, ... more impressive than big monthly lease, mortgage, and loan payments. Should Lexus rewrite its copy to reflect [more...]

Date: 2007-09-04 00:50:29
Blog: bly.com blog...

What Are Conduits?

What Are Conduits? by movermike Here's the headline carried by Reuters and the Washington Post, State Street faces exposure to conduits: ... they are an offbalance sheet means of financing their mortgage and other loan books by selling short ... to asset-backed commercial paper conduits, the off-balance sheet vehicles that have caused severe [more...]

Date: 2007-08-28 16:55:11
Blog: Mover Mike - ...

Don't Call It Predatory . . .

. . . call it legal! Hell, everyone wants to live the American dream and if you don't earn enough money to participate, ... your a subprime borrower, don't let that stop commercial banks from taking advantage of what little you earn ... in the mortgage industry, cannot be called consumer-friendly. If you want fair play when you take [more...]

Date: 2007-09-10 02:03:27
Blog: Dick Mac (alive!)...

Commercial Paper Market Could Lose US$500B by Thanksgiving

Bad economic booms tend to produce bad results…like runaway indebtedness and a plummeting currency ... of commercial paper cannot find any lenders to finance their toxic cocktails of lousy mortgages ... into reverse right before our eyes.  The lenders are simply refusing to lend, which is why the commercial [more...]

Date: 2007-09-25 01:36:14
Blog: The Daily Reckoning Aus...

Reading: Nice Lending Rates

Jane Kim, in today’s Wall Street Journal, notes various lenders now offering above-rate certificates of deposit, even if they say it isn’t because of their own funding concerns. “Bank officials at the mortgage ... such as Countrywide that are having trouble raising money in the commercial-paper market.” In today’s Asia [more...]

Date: 2007-08-23 13:52:20
Blog: MarketBeat Blog - WSJ.c...

Hammer the rich!

Yes, Polly's in the paper again today: 'Hammer the rich!' At last a political leader has the nerve to say what pollsters find most people think ... know yet: all we know so far is that funding such loans from the commercial paper markets wasn't ... more people buy their own home, and this cheap mortgage collapse will make it worse. Now what Applegarth [more...]

Date: 2007-09-18 07:55:42
Blog: Tim Worstall Tabloid Ed...

IMF: Credit Crunch Likely to be ‘Protracted’

A report from the International Monetary fund, released today, ... markets that provide short-term financing (especially commercial paper markets). At the center ... created by the collapse of the U.S. subprime mortgage market. From the press statement: … the GFSR [more...]

Date: 2007-09-25 03:58:41
Blog: Housing Wire ...

Money Talks and...

Throughout this year, Wall Street's so-called experts have argued that the subprime problem was "contained," or have repeatedly called for a bottom, ... from the subprime-mortgage crisis spread further into the nation's financial system. Bank of America's ... and commercial paper, Chief Financial Officer Joe Price told investors at a conference in San [more...]

Date: 2007-09-18 01:04:24
Blog: Financial Armageddon...

Cracks in the Global Economy

Want to know why investors throughout the world are spooked? Read the piece by numerian (of the Agonist) ... rather than just overnight money, and that the Fed also will now accept mortgage securities as collateral, we can assume one of the calamities involved Countrywide Bank. This commercial bank [more...]

Date: 2007-08-21 08:58:33
Blog: Pacific Views...

The Phoenix Real Estate Market: 3 Locals Opine on the Tube

Here's a video from KPNX TV's "Sunday Square Off". Three local folks discuss the Phoenix real estate market ... in the mainstream media; Stan Lund, a Phoenix mortgage broker and President of the Arizona Association of Mortgage ... of my knowledge of him before this. In my humble opinion, he came across way too commercial and full [more...]

Date: 2007-08-20 20:20:22
Blog: The Phoenix Real Estat...

JustQuotes: What Happens When Lenders Can’t Borrow?

“The U.S. commercial paper market unexpectedly shrank for a sixth week, ... debt.” “The buyers' freeze shut out borrowers including mortgage lenders Countrywide Financial Corp. and Thornburg Mortgage Inc. as well as GMAC LLC and investment company Cheyne Finance Plc.” ∙ [more...]

Date: 2007-09-20 15:37:17
Blog: San Francisco real esta...

Universal Health Care

Bitter with Baggage Seeks Same: The Life and Times of Some Chickens ... loans bad credit personal loans for united states residents commercial construction loans broker ... for bad credit cash fast personal loans student loans refinancing index php ditech mortgage loans [more...]

Date: 2007-09-11 06:33:12
Blog: WordPress › Error...

Merchant

MERCHANT, n. One engaged in a commercial pursuit. A commercial pursuit is one in which the thing pursued is a dollar ... immigration, outsourcing, price inflation, wage stagnation, mortgage crunch and cost of lunch connected [more...]

Date: 2007-09-15 10:55:07
Blog: Waking Ambrose...

H&R Block Taps $250 Million of Available Credit, Citing Problems in Commercial Paper

In an SEC filing this morning, H&R Block — parent of troubled subprime lender Option One Mortgage Company — said it had drawn $250 million against ... months. In mid-August, Cerberus-owned Aegis Mortgage filed for bankruptcy amid a growing industry ... rating cut to junk status by Fitch Ratings. Advertisement: Low Rate Second Mortgage Loans 125% Home [more...]

Date: 2007-09-25 20:04:18
Blog: Housing Wire ...

Global Credit Crisis U.S. Style

Bloomberg is reporting Commercial Paper Market in U.S. Shrinks for Seventh Week in Row, Fed Says. The U.S ... ), the largest U.S. mortgage lender, said on Monday it expects to modify terms on nearly 25,000 home loans ... home loans this year, and provided assistance on about 35,000 mortgages, including through rep [more...]

Date: 2007-09-27 18:52:38
Blog: Mish's Global Economic ...

A Bird's-Eye View of the Credit Conundrum

With Friday’s change, it would appear that investors now have the ability to "put" unmatured commercial paper back to the bank affiliated brokers - who in turn will pass it along ... out of the mortgage and home equity world, the last available credit is plastic. One statistic [more...]

Date: 2007-09-03 15:10:37
Blog: CRIMES AND CORRUPTION O...

Wilbur Ross’s Greatest Credit Hits

Private-equity veteran Wilbur Ross, a noted contrarian who has plunged billions of dollars into companies in financial distress, ... Depression. Default rates on commercial paper had become vanishingly low, like 1 per cent, and I’ve ... & Co., invested $50 million in American Home Mortgage, then in bankruptcy proceedings, via debtor [more...]

Date: 2007-09-18 11:31:00
Blog: Deal Journal - WSJ.com ...

Review: MortgageMart.com

I have never had to deal with a mortgage since I don’t own a house ... choose the information from a drop-down box- the mortgage loan type, the home type, for example ... you cannot watch television or browse the Internet without seeing a commercial or advertisement for loan [more...]

Date: 2007-07-17 03:59:45
Blog: Ramblings Of An Undistu...

Sex Pistols No Fun

Traveling Hopefully : How to Lose Your Family Baggage and Jumpstart Your Life ... loans with no credit check commercial property loans auto title collateral fast online loans bad ... publisher: Remainder , released: 05 October, 2004 price: $3.17 (used) refinancing mortgage [more...]

Date: 2007-09-14 02:32:26
Blog: WordPress › Error...

The aftermath of using your home as an ATM

The aftermath of using your home as an ATM 2 Comments Published September 17th, 2007 in Finance, Metro Detroit, Real Estate Opinion, ... as a commercial loan officer for First of America Bank in Kalamazoo. Every loan decision in every area ... . One spring, the residential mortgage department was buried in applications and they called upon [more...]

Date: 2007-09-17 14:32:14
Blog: miOaklandCounty - The ...

Bernanke's Bullet Misses the Mark

"..,what was the reason for the panic cut? Asset backed securities received no bids, the commercial paper market was in the dumps, ... weak with huge mass layoffs by financial organizations. List of What Hasn't Changed Mortgage Rates. (Actually mortgage rates rose since last week as the chart below shows). Auto Loan Rates. Nearly [more...]

Date: 2007-09-20 16:42:30
Blog: CRIMES AND CORRUPTION O...

Subprime mess trickles into Atlanta commercial market

REPORTS ON THE SUBPRIME lending fiasco have focused on the residential real estate market, but the demise of mortgage companies such as HomeBanc Mortgage Corp., SouthStar Funding LLC and Home Capital Inc. [more...]

Date: 2007-09-27 11:01:14
Blog: Daily Report...

Help for Owners of Foreclosed Properties

by Michael Sexton An article in Wednesday’s Washington Post reports some very encouraging news ... $1 billion to help refinance the mortgages held by thousands of lower-income people who are at risk ... of foreclosures result from divorces. There are also many commercial-property foreclosures that occur [more...]

Date: 2007-04-13 14:22:00
Blog: The Trump Blog...

Zimfo Bites

Pioneer Hi-Bred, a DuPont business, announces it is commercializing soybean varieties developed using a technology that increases yields by as much ... has more than 25 years of agricultural management experience with Wells Fargo Home Mortgage, Principal Financial Group and Pioneer Hi-Bred International. Jeff Springsteen has accepted the position of [more...]

Date: 2007-10-03 13:27:40
Blog: AgWired ...

Predatory commercials

"Sometimes I disrupt class...but someday, I'm going to disrupt conventional thinking! ... there at the pleasure of your lender, under the terms of your reverse mortgage. And of course, when ownership of that reverse mortgage [more...]

Date: 2007-09-16 02:20:26
Blog: Another Monkey...

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