Recent Blog Posts
Cops bust realtor in Miami for sex cyberstalking
on Dec 25, 2007 in cyberstalking mortgage meltdown Just another example of how the mortgage meltdown is having a longterm affect on us all? Or another example of stupid criminal tricks?So this idiot Isenberg, puts ads out sex ads using his rival's phone number on Craigslist and other sites - what a...
SoCal Home Prices Plunge 27%
on Jun 16, 2008 in Finance banking business California energy prices mortgage mortgage crisis mortgage meltdown real estate The residential real estate market in Southern California remains in critical condition. According to an article by Roger Vincent in the Los Angeles Times, home prices in SoCal plunged 27% from May of last year. In addition, the rising price of gasol...
More Write-downs for Citi?
on Jun 25, 2008 in Finance banking business Citi Goldman Sachs mortgage meltdown subprime Wall Stree Additional write-downs of $8.9 billion are in the future for CitiGroup, Inc according to Goldman Sachs. As reported in an article by Cathy Chan in Bloomberg, the banking and financial giant may need to take another $7.1 billion loss on collateralize...
AIG Hit By Bad Mortgages
on Aug 6, 2008 in Finance mortgage subprime insurance mortgage meltdown mortgages real estate American International Group lost $5.36 billion in the second quarter as the impact of the mortgage meltdown continues to take its toll on financial companies. The results included a $5.57 billion write-down on the company’s portfolio of cred...
Mortgage Fraud Still a Problem
on Aug 25, 2008 in Uncategorized banking Finance mortgage fraud mortgage meltdown real estate Mortgage fraud, extremely prevalent in loan originations in 2007 and earlier, continues to be a huge problem for mortgages originated in the first quarter of 2008. This despite a severe ratcheting up of underwriting standards. According to the Mortga...