Here is a nice graph showing agency REO inventory and the follow up from Tom Lawler adding private label RMBS REO inventory….and here’s CR’s Graph Gallery. The menu runs left to right across the top of the page, just under CR’s logo.
We talked about Fannie and Freddie being insolvent. Here’s a story from Housing Wire on that topic. Expect MORE FHA REOs out there.
And here’s the Housing Wire main website and more about REO Insider.
Here’s one of many stories featuring Jim the Realtor, an REO agent out of Calif who videotapes the REOs he lists as part of his initial walk-through.
Calculated Risk helps us understand that there are two bottoms to the housing market. The first will be new construction home starts. The second housing bottom will be in home prices. CR clears it up here. He says we are near the bottom in both sides though home prices may go down another 5% or so and there are a few variables that might make home values go down further.
I mentioned a federal law that requires lenders to favor minority applicants when selecting REO listings….It’s called the Housing and Economic Recovery Act. Here’s more info from Fannie Mae, Freddie Mac….and here’sa news story about it.
Here’s that 60 Minutes Episode on LPS and the Robo-signer scandal. Sounds like the first of many lawsuits… the 60 Minutes episode where an EVP from Countrywide blows the whistle on pervasive fraud at all large metro Cwide branches….the massive 50 state Attorneys General lawsuit settlement was announced this morning. Here are the details.
Here’s more on the AG settlement from the WSJ.
Titanium Mortgage Solutions is the name of the firm hiring Realtors to solicit foreclosed homeowners after the auction.,
Here’s the direct link to the list of WA State Chartered Banks
Here’s the most recent unofficial problem bank list.
I know you’ll ask for the sales statistics I posted at the end of class from Jack Daly.