Monthly Archives: June 2010

NICE The Nevada housing market faces more challenges, and prices should stay at their existing level for about three more years, according to UNLV economists. In its analysis of the Las Vegas housing market, the Center for Business and Economic … Continue reading →

For prime mortgage servicers, GMAC conducted short sales the fastest, averaging roughly six months per transaction. Also, 53% of their dispositions were short sales. It had a recovery score of 59.3. The next fastest servicer was Citigroup’s servicing arm CitiMortgage, … Continue reading →

DEBT is as powerful a drug as alcohol and nicotine. In boom times Western consumers used it to enhance their lifestyles, companies borrowed to expand their businesses and investors employed debt to enhance their returns. For as long as the … Continue reading →

Home prices have now fallen for the past six months, according to the Case-Shiller home-price index, after rising from their nadir for the five months before that. (Another index, from the Federal Housing Finance Agency, has, however, shown a slight … Continue reading →

THIS HAS GOTTA HELP, RIGHT?The Obama Administration signed off on state plans to use $1.5bn in foreclosure-prevention funding for states hardest-hit by home price declines. Nevada, which receives $102.8m, will create a modification program using a combination of principal forgiveness … Continue reading →

The Obama Administration released the first edition of its monthly housing scorecard that tracks housing market indicators as well as efforts by the Federal Housing Administration (FHA) and the Making Home Affordable programs to prevent foreclosures. The monthly report (download … Continue reading →

iPSYCHEDELIC!How bad is it? These banks are getting killed; taking huge write downs and not seeing the new mortgages coming in at the extent to which the loss is adding up. Who wins in all of this mess? In my … Continue reading →