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Monthly Archives: June 2007

Sales of Existing Homes Fall to Lowest Level in 4 Years (New York Times)
Fannie’s Portfolio Grew 14 Percent in May (American Banker Online)
US Subprime Problems Largely Contained–Freddie Mac (Reuters)
Stocks Give Up Early Gains as Subprime Concern Grows (Wall Street Journal)
Legislative Briefing: Mortgage Fraud (Raleigh News & Observer (NC))
Guaranty Title Under Investigation (News-Leader)
IndyMac Starts Latino Niche Wholesale Group (National Mortgage News)

I am a huge fan of Charles Wheelan, an econ prof at Chicago GSB. Anyone who wants a real simple primer on econ should read his book entitled “Naked Economics”. I loved it.

The linked article below, gives a good idea of what Charles Wheelan is all about. I hope you enjoy his work as much as I do.

An Economics Laundry List

Well, I posted this article a little late, it seems Fair Isaac is now taking steps to curb this practice. If you look at the Top Mortgage News Articles I posted today, you will see a story addressing this. You can also check out this link:

http://www.cutimes.com/article.php?article=32598

If you want to know more about this nefarious practice, which basically promotes FICO fraud read on:

http://www.associatedcontent.com/article/267102/companies_renting_credit_card_accounts.html

This WSJ article made me think about my MBA days back in the day.  We could all sit down and talk about Gini coefficients and the land of opportunity but it really does come down to a question of societal stability.  I guess that is why the rich care.

http://blogs.wsj.com/wealth/2007/06/11/why-the-rich-care-about-inequality/ 

I pulled this off of the Consumerist website today. It’s a quick and dirty article on how to check yourself out. Hey, if you’re going for a job or even renting an apartment, see what they see.

http://consumerist.com/consumer/privacy/do-a-background-check-on-yourself-265223.php

I guess we now know why there is a payday loans on every street corner. While this may seem like a shocker, I am sure some strategic planning group or entrepreneur is smelling opportunity blood.

http://hosted.ap.org/dynamic/stories/B/BANKLESS_IN_AMERICA?SITE=VADAR

Beyond Subprime, Risks Abound (Wall Street Journal)
Buyers Welcome Slump, Eye Risky Mortgage Market (Las Cruces Sun-News (NM))
13 Percent May Growth for Freddie (American Banker)
Subprime Crisis Is Likely to Continue Its Sting (Wall Street Journal)
Fed Must Stop Abuse, Carefully (Investor’s Business Daily)
OCC Warns of Long Profit Squeeze (American Banker)
Change in Credit-Score Process to Have Impact (Akron Beacon Journal (OH))

Top National News

Servicers Seek Nonprofits’ Help as Go-Between (American Banker)
Owners Still Upbeat About Homes’ Value (Los Angeles Times)
Suit Over Mortgage Rates Settled (Tacoma News Tribune (WA))
Housing Drag Pulls Down 30-Year Mortgage Rate (Baltimore Sun)
Compensation for Fannie Investors Requested (Washington Post)
Fannie Proposes Releasing Executive Incentive Payments (Washington Post)
Subprime-Risk Index Reaches a Record Low (Wall Street Journal)
H&R Block Reports $434 Million Loss Due to Irvine Unit (Orange County Register (CA))