Fitch Ratings and Standar & Poors (S&P) Ratings services both published their methodology and assumptions for evaluating residential mortgage-backed securities (RMBS) in November. Look for both services to issue updated ratings over the next few weeks.
Fitch Ratings has revised its surveillance methodology for U.S. sub-prime RMBS to reflect increased emphasis on ResiLogic, their loan-level and […]

Another guest post from MG Dungan who went from Wharton to Wall St. to real estate to Blown Mortgage.
The first Great Depression started with the October crash of 1929, but the market didn’t hit bottom until 1932. So far in 2008, the market hasn’t crashed; however, this year, similarly, will mark the end of an […]

In a recent story published on BusinessWeek’s website, the subprime mortgage industry is taken under the microscope and picked apart, bit by scandalous bit. The article, entitled “Sex, Lies, and Subprime Lending,” presents many of the familiar excesses of subprime lending (pressure from investment banks and mortgage-backed securities brokers, data manipulation by loan officers) with […]

In the grips of a brutal financial crisis that continues to worsen despite all efforts by the governments across the world to stop it, and foreclosures continuing their unstoppable climb, there’s no question that things are pretty bad out there. Banks, in particular, have been given no reprieve at all by shareholders even as they […]

Which is more unbelievable: that “How to Get Rich Quick in Real Estate” courses are still actively being marketed or that people might still be buying them?
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When there is a stock market boom, and everyone is scrambling for common stocks, take all your common stocks and sell them,” he elucidated. “Take the proceeds and buy conservative bonds. No doubt the stocks you sold will go higher. Pay no attention to this”“just wait for the depression which will come sooner or later.” […]

Homeowners are not the only ones having difficulty paying their mortgages. Owners of commercial properties, from office buildings and industrial parks to malls and resorts to hospitals and medical buildings are all feeling the pressure. And as of Tuesday, the cracks are officially beginning to show.
Bloomberg reports that, according to RBS Greenwich data, delinquencies on […]

A guest post from Constantine von Hoffman, veteran business journalist and author of the blog CollateralDamage.biz, a humorous look at marketing, business and his dog.
“People have begun to feel like a Christian Scientist with appendicitis.” — Tom Lehrer
It is difficult to believe but earlier this year people were still debating whether or not we were […]

A guest post from Frank Shump. Frank is a veteran from the financial services industry, and currently authors a blog called Thefinancecastle.com, which documents his thoughts on money matters and his adventures in self employment.
Even with bargain hunters starting to come out of the wood work and credit just barely starting to thaw out, things […]

Another guest post from MG Dungan who went from Wharton to Wall St. to real estate to Blown Mortgage.
At the end of October (see Fed Implode-o-Meter October 31), it looked like the Fed had spent about $3.8 trillion in the year to date. Not even three weeks later, that figure is now up to $4.28 […]