For the last few weeks I've been talking about how the press has been handling the fallout. This week though, I found an interesting article that talks about how the major media has completely stopped covering the story - and the implications it has on people across the country. It touches on how the effort to rescue people now threatened with losing their homes is being ignored. Check out the story below.
And if you haven't had a chance to try the Name-Your-Own Price for LIVE Hot Transfers wizard, make sure you give it a try. It's the model we've used to price LIVE Hot Transfers since DoublePositive was founded. Using the dynamics of demand and supply, the wizard lets you see for yourself how the price you're willing to pay affects the volume we can deliver.
Also, I wanted to give you advanced notice that we'll be closed next Wednesday 7/4 and Saturday 7/7, so there were won't be any transfers available those days. Have a great week.
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| Featured Articles from DoublePositive |
Sean Fenlon |
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The year was 1995 and a new technology startup called Netscape had a wildly successful IPO. Their product, of course, was the first widely adopted web browser and the Internet as we know it today was born. In the early days of the Internet, the web was largely static brochure-ware (meaningful and consistent media feeds came significantly later). There was very little interactivity beyond the clicking of Internet users' mouse on hyperlinks. Internet Search was not yet a useful tool. Internet users were driven more by curiosity than by intent or objectives. In other words, the spirit of the Internet users in 1995 was essentially "what's out there," as opposed to "I know it's out there, help me find it."
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| Fraud Alert |
EmpireStateNews |
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| A federal grand jury sitting in Albany Friday returned a superseding indictment charging Laura Andersen with conspiring with her husband, Anthony Andersen, in a mortgage fraud scheme.
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RealtyTimes |
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| From bogus appraisals to consumer lies about employment and income -- is booming, up by 30 percent in the last year, according to a comprehensive new study prepared for the Mortgage Bankers Association of America using FBI and private mortgage industry data.
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| Industry News |
Znet |
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| There are a lot of things you wouldn't know from reading most of the papers or watching the TV. For instance, there were demonstrations and press conferences across the country earlier this month, demanding action to deal with the growing crisis in the home ownership business. Major civil rights and housing groups have called for a moratorium on the home foreclosures that are devastating individuals and families, and hitting African Americans and Latinos at a disproportionate rate.
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Bloomberg |
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| Queen's Walk Investment Ltd., a fund investing in the riskiest portions of bonds backed by mortgages, reported a net loss caused by the slump in the U.S. subprime market and increased repayments by U.K. borrowers.
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EarthTimes |
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| One bank sued another over nearly 80 employees who jumped ship to go to work for the defendant
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TMPCafe |
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| An academic paper, "How Resilient Are Mortgage Backed Securities to Collateralized Debt Obligation Market Disruptions," presented early this spring at the Hudson Institute suggests that the mortgage market has been structurally realigned, and that the whole system is far riskier than rating agencies, regulators or investors have recognized.
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PostCrescent |
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| I listened to an interview with a top-producing Realtor from South Carolina recently, "Do you see those taillights? That's the gravy train, and it's leaving the station." I can't think of a better analogy to describe the course for mortgage rates.
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SeekingAlpha |
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| It's been a while since we've talked about submerging prime at Running of the Bulls. But with a Bear Stearns (BSC) hedge fund blowing up, it has become topic du jour, again.
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LATimes |
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| When banking expert Alex J. Pollock started looking at mortgage disclosure forms, even he had trouble understanding them. Pollock, a former banking industry executive who now serves as a fellow at the American Enterprise Institute, a Washington, D.C.-based think tank, thought the poorly constructed documents might be one source of the nation's sub-prime banking problems.
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Reuters |
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| U.S. Treasury debt prices rose on Monday on lingering worries over the subprime mortgage sector and indications of a flat open on Wall Street.
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Bloomberg |
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| Home resales dropped in the U.S. last month as demand remained near a four-year low, reinforcing concerns about a protracted housing slump, economists said before an industry report today.
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| On Capitol Hill |
AkonBeaconJournal |
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| The president of the Federal Reserve Bank of Cleveland said Friday that regulators will work to prevent ``unfair and abusive'' mortgage lending practices, but she added that consumers and lenders must help.
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TheNewsSentinel |
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| The explosion of defaults nationally begs for tighter regulation of lenders. But Sheila Bair, who became head of the Federal Deposit Insurance Corp. about a year ago, has struggled to get support for change. Other regulatory agencies feel the FDIC is encroaching on their turf.
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BankNet360 |
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| A bill that would offer U.S. veterans the opportunity to take out a reverse mortgage has met opposition from the Bush administration.
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