Mortgage applications fell to an eight-year low last week as Americans delay or abandon purchases and fewer people seek to refinance their loans. I suppose most Americans think home prices will go even lower. The age old theory of buying low and selling high still holds true. What do you think Americans are afraid of? …
The SEC ordered that before anyone could execute a short sale in any of 19 stocks on its list, the hopeful short seller had to locate shares that could be borrowed. Here is a list of those targeted for naked short sale emergency protection: Allianz Aktiengesellschaft (AZ), Bank Of America Corp (BAC), Barclays PLC (BCS), …
Freddie Mac announced yesterday that it would double compensation paid to mortgage servicers for each workout that helps avoid foreclosure of a mortgage owned by Freddie Mac. In order to qualify for the reimbursement, the mortgage must be at least 90 days delinquent. An independent third party vendor must make the outreach and the servicer …