Pickle Real Estate

Reading Between the Head-Lines

Fed Names Recipients of $3.3 Trillion in Crisis Aid

2010-12-02 Bloomberg.com

The Federal Reserve, under orders from Congress, today named the counterparties of about 21,000 transactions from $3.3 trillion in aid provided to stem the worst financial panic since the Great Depression.

Bank of America Corp. and Wells Fargo & Co. were among the biggest borrowers from one program, the Term Auction Facility, with as much as $45 billion apiece. Some aid went to U.S. units of foreign institutions, including Switzerland’s UBS AG, France’s Societe Generale and Germany’s Dresdner Bank AG. The Fed posted the data on its website to comply with a provision in July’s Dodd-Frank law overhauling financial regulation.

“We owe an accounting to the American people of who we have lent money to,” Richmond Fed President Jeffrey Lacker said today in an interview on Bloomberg Radio’s “The Hays Advantage,” with Kathleen Hays. “It is a good step toward broader transparency.”

Full Article Here

December 2, 2010 Posted by | Banking, Investments, Lending, Stats | Leave a comment

foreclosure inventories rise to all time highs

2010-12-01 truthaboutmortgage.com

“Foreclosure inventories rose to all-time highs last month, according to the October Mortgage Monitor report released by Lender Processing Services. As of the end of October, foreclosure inventories were 7.4 times higher than the historical average and rising.”
Full Article Here

December 2, 2010 Posted by | Banking, Foreclosure, Investments, Lending, Real Estate | Leave a comment

The Housing Double-Dip is Here

2010-12-01 businessinsider.com

The chart (below) depicts the annual returns of the U.S. National, the 10-City Composite and the 20-City Composite Home Price Indices. The S&P/Case-Shiller U.S. National Home Price Index, which covers all nine U.S. census divisions, recorded a 1.5% decline in the third quarter of 2010 over the third quarter of 2009. In September, the 10-City and 20-City Composites recorded annual returns of +1.6% and +0.6%, respectively.

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December 2, 2010 Posted by | Banking, Foreclosure, Investments, Lending, Real Estate, Stats | Leave a comment

   

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