Nov 5 2009
Wells Fargo Solution to Option ARM Problem? Convert all Pick-A-Pay Mortgages to Interest Only Loans.
2010 will be a big year for four states because that is when the option ARMs are suppose to recast in droves. State Attorney General Jerry Brown of California sent a letter to the top 10 option ARM servicers and banks late last week requesting information requiring firms to stipulate how much of these loans [...]
Sep 29 2009
California Housing Still Over Priced: Examining Case Shiller Data and Seasonal Distortions. The Impact of Shadow Inventory on Price.
One simple rule that every student of introductory economics understands is that a product that has more demand than supply will typically push the price up. The recent stabilization in housing prices has given the impression that the housing market is correcting on its own. Nothing can be further from the truth. There are three [...]