Today's Fresh Blogs...

• Paulson: Housing is Biggest Threat to Economy

  Published: October 16, 2007, 1:45 pm

  Tags: Economy, Mortgage News Insight, Bernanke, Credit Crunch, Housing Market, Mortgage Mess, Paulson, Subprime Mortgage

  the white lie that subrpime mortgage problems were contained; we’ve been busy shooting holes in your theories over here, and are glad to see someone with authority finally come “to the confessional” (as Tanta from C/R likes to say). From Paulson - to you (via Market Watch): “The ongoing housing correction is not

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• Wachovia Follows WaMu, Bank of America Down, Down, Down

  Published: October 19, 2007, 1:21 pm

  Tags: Wall Street, Mortgage News Insight, Credit Crunch, Mortgage Mess, Wachovia, World Savings, Write Downs

  loss reverses relating to mortgage lending - adding $1.3 billion to the write down pile in what will be remembered as one of the worst weeks for banks for a long time to come. From Reuters: Wachovia Corp posted on Friday a 10 percent decline in third-quarter profit, missing forecasts, as the fourth-largest U.S. bank suffered $1.3 billion of

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• Merrill in Peril? Writes Down $8 Billion in Bad Mortgage Debt

  Published: October 24, 2007, 12:35 pm

  Tags: Wall Street, Mortgage News Insight, Cdos, Collateralized Debt Obligations, Merrill Lynch, Mortgage Mess, Subprime Mortgages, Write Downs

  billion write down for bad mortgage debt held as collateralized debt obligations (CDOs). The $8 billion totals the losses reported by Citi, UBS and WaMu combined. Merrill Lynch stock was hammered as expected. The real story here? Merrill pre-announced write down charges in the $4.5 billion range 3 weeks ago in advance of its earnings

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• Yves Smith of Naked Capitalism Interview

  Published: October 30, 2007, 4:51 pm

  Tags: Podcasts, Cdos, Credit Crunch, Mortgage Mess, Naked Capitalism, Sivs, Wall Street, Yves Smith

  this edition of the Blown Mortgage Podcast Interview series we talk with Yves Smith, author of NakedCapitalism.com. Yves, a Harvard Business School graduate and frequent contributor to top business publications around the globe, joins us to talk about Structured Investment Vehicles, what the Fed will do tomorrow and much, much more. If you

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• Citi CEO to Resign After Bank Threatened with Liquidity Issues

  Published: November 3, 2007, 12:06 am

  Tags: Wall Street, Citi, Credit Crunch, Mortgage Mess, Mortgages

  to bets made on subprime mortgage-related debt. This is the second high-profile CEO to step down in a week - surely not surprising when billions of dollars were wiped clear off the books of these giants. You can’t just have that kind of money disappearing with out having heads roll. Prince had it especially tough after reports

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• Goldman: Citi Exposed to $15 Billion in Write Downs

  Published: November 19, 2007, 3:27 pm

  Tags: Wall Street, Mortgage News Insight, Cdos, Citi, Credit Crunch, Goldman Sachs, Mortgage Mess, Write Downs

  $8 - $11 billion in mortgage-related write downs in the 4th quarter and an additional $4 billion above and beyond the $1.83 billion in charges already taken by the banking giant. The losses are of course tied to subprime mortgage bets and collateralized debt obligations. Goldman has become increasingly bearish in its analysis of the

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• In Case You Were Wondering: Countrywide Says It's Fine

  Published: November 20, 2007, 6:33 pm

  Tags: Mortgage News Insight, Cfc, Countrywide, Liquidity Problems, Mortgage Mess

  be a beneficiary of ongoing mortgage market consolidation. The Company disclosed that it had $35.4 billion in highly reliable liquidity available at October 31, 2007, up from $33.6 billion available at September, 2007. Countrywide Bank, the Company’s primary operating entity, has sufficient liquidity available to meet its projected

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• Uncle Angelo Ruined by TheStreet.com

  Published: November 28, 2007, 11:44 pm

  Tags: Why I Hate My Industry, Random Thoughts, Countrywide, Mortgage Debt, Mortgage Mess, Subprime Arms, Subprime Mortgages

  Big hat tip to Keith at Housing Panic, if you’re not reading that every day you’re missing a major part of the story. This is hilarious. The fact that it was created by TheStreet.com is amazing. Enjoy. Share This

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• A Reverse Mortgage Mess?

  Published: March 9, 2008, 12:00 am

  Tags: Reverse, Mortgage, Mess, Aarp, Barbara Stucki, Donald Redfoot, Peter Bell, National Council On The Aging, National Reverse Mortgage Lenders Association, United States

  With $4 trillion of home equity wrapped up in the houses of America's senior citizens, it's no coincidence that the market for reverse-mortgage loans is finally taking off.

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