Data and Sector Experience Driven Research
– Macro and Micro US & Foreign Housing, Finance, Credit & Related Sectors; Proprietary Resi and C&I NPA Data, Credit ( & sovereign)
Participation is limited in order to remain relevant and for clients to achieve maximum benefit.
1) ‘The Pages’ provides a high-level, yet detailed, expert opinion of present and projected conditions of the and housing markets. TMP always captures the story within the story and zeroes in on the market-moving aspects of the relentless news flow. Delivered via email a minimum of six times per month, of much more as conditions warrant.
2) ‘Proprietary Data’ - Near real-time bank-originator & servicer-specific residential and commercial NPA ( default & foreclosure) data and reporting. Track financial institution NPA’sthrough the entire default and Foreclosure process including counts, dollar amounts, rates of change, loss severities and much more. Real-time tracking of bank-originator legacy and new vintage loan performance — individually and relative to peers — provides balance-sheet insights not gained elsewhere. This is guaranteed to keep you far ahead of the mortgage and housing markets, ratings agencies, and pivotal company-specific events.
**Proprietary data is exclusively mined through county public records and available to anybody with the time, technology and intellectual capital to do so.
3) Credit - Beginning in January 2011 we added mortgage and sovereign credit to our line-up. We cover non-agency residential with a focus on Subprime, Prime, ABX, and PrimeX.
Credit is spearheaded by analyst and strategist Barry Eisbruck, formerly of Moody’s and Hayman.
4) Foreign Housing - In October, we rolled our Tier-1 coverage for Canadian housing, finance and related sectors covering what we believe to be one of the largest relative property and debt bubbles ever. Concurrently, we are digging deep in Australia’s property market with full coverage roll-out due Nov 23, 2011.
Canada is spearheaded by analyst Ben Rabidoux.
5) ‘Tier-1‘ coverage is for fast movers that want up close and personal access to us and everything we have. This coverage combines TMP, Proprietary Data, Credit and Foreign Housing.
1-26 – Australian Banks – Their “Dirty Little Secret” / & Debunking Consensus Opinion
1-26 – New Home Sales (Depression) Internals
1-25 – Pending Sales Internals Confirm
1-25 – Canada – A 50%+ House Price Correction on Deck?
1-25 – Australian Housing End-Game Schemes…“BUY A HOUSE GET A $60K LAND ROVER FOR FREE!”
1-24 – (Uh!) O Canada – Challenging the Consensus “Soft Landing”
1-23 – (Uh!) O Canada – Dec Monthly Canadian Housing Round-Up
1-19 – Dec Housing Starts/Building Permits – Where’s the Beef?
1-19 – Australia – Detailed Update on Housing Credit
1-18 – NAR Existing Home Sales Preview
1-18 – Foreclosure Surge is Coming in Q1
1-17 – Dec SoCal Housing Market Metrics
1-13 – Mid-to-High End Housing UPSET Case-Study
1-13 – JPM Resi Loan “SIV” / Biggest Can-Kicker of all the Big Banks
1-12 – Bulk REO-to-Rent Scheme a Clear Negative for Housing
1-11 – Real Estate/Builder Recovery Trade – The Perfect Storm before the Calm Before the Storm
1-11 – (Uh!) Owe Canada – How Overbuilt is this Market? A US Analog
1-10 – Q4 Bank Legacy Balance Sheet & Putback Risk
1-9 – Closing Out Dec Subprime ABX Long Trades
1-9 – BAC, JPM & Other Big Bank Q4 Resi NPA Activity
1-5 – (Uh!) Owe Canada – 2012 Themes & Outlook- “The End of the Canadian Miracle”
1-5 – 2012 Australia Themes & Outlook- “A Long Delayed Waterloo”
1-4 – Long Builders…Long in the Tooth
12-26 – Happy Holidays and New Year from Mark Hanson
12-23 – New Home Sales Depression Internals
12-22 – (Uh!) Owe Canada – High-Frequency Data & Other Random Bubble Musings
12-21 – Existing Home Sales – NAR Re-Benchmarking IS Significant
12-20 – Nov Building Permits…Nothing to See Here
12-20 – JPM (BSC) MBS Fraud (UPDATE 1) FW- 12-18 – JPM = BAC
12-19 – (Uh!) Owe Canada – Quebec Provincial Bubble Report
12-19 – Australia – A Nation of Loss Making Landlords…Housing Incentive Run Amok
12-16 – News Out – JPM…$95 BILLION MBS Buyback Problem
12-16 – NAR Existing Sales Restatement – A Preview
12-16 – Aussie Bank Surprise Publicity Stunt (Stress Test Due in a Week)
12-14 – Aussie MI Co Warning – Same Story, Different Continent
12-13 – CA House Price/Sales Compression in Full-Effect
12-13 – 2nd Lien Implosion Happening Right Now – The Turning Point
12-12 – Australian Rate Cuts, Banks, Funding…New Data, Old Problem
12-9 – Moody’s Sov/Bank CDS vs Implied Update
12-8 – BAC/JPM/WFC (Foreclosure) Liquidation Speeds go Haywire
12-6 – Australia Calls – 4pm to 2am EST Only
12-6 – Mid-to-High End Real Estate…An Example of ‘Not a Good Sign’
12-5 – Australian Banks- S&P Caps Banks Wholesale Funding
12-5 – FW- Wild S&P Move – Rewriting the Manual as they go…
12-2 – (Uh!) Owe Canada – HF Econ Data Recap
12-1 – Melbourne: Epicenter of a Housing Bust
12-1 – Sov CDS Implied Response to Central Bank Gang Bang
11-29 – (Uh!) Owe Canada – Household Balance Sheets Not as Pristine as Believed
11-28 – Australia Inaugural Report- “Bubbles Girt by Pricks”
11-28 – New Home Sales Depression Recap
11-27 – (Uh!) Owe Canada – Bank Earnings Observation
11-17 – Oct Existing Home Sales Front-Run
11-15 – Bank, MBS & MI Co Disappointment / US Housing Debt to Equity Ratio Highest on Record
11-10 – (Uh!) O Canada – Mortgage Unaffordability / HELOC Craze
11-9 – Canada – Houston, We Have a Problem; Game On
11-7 – Jumbo Defaults, Foreclosures, & Can-Kicking & House Sales/Prices/Compression
11-4 – Canadian Banks vs US Banks
11-4 – (Uh!) O Canada – Vancouver Area Housing Trouble Update / Oct Jobs Market Bomb
10-31 – REITS (UPDATE 1) FW- 10-26 – EQR and AVB Short Flyers on Earnings
10-30 – Sept Home Builder & Sales Recap (not pretty especially at mid-to-high end)
10-27 – Oct PrimeX Remit Summary
10-27 – (Uh!) O Canada…GDP Drivers & Misplaced Perceptions
10-26 – (Uh!) O Canada – Ontario Bubble
10-26 – EQR & AVB Short Flyers on Earnings
10-24 – On HARP Underwater Refi Expansion
10-24 – (Uh!) O Canada – B.C. / Vancouver Mega-Bubble
10 – Canada – Houses for Everybody for Nothin’ Down
10-22 – PMI Seized – Interesting Potential Snowball Effect
10-18 – Existing & New Home Sales Front-Run
10-18 – (Uh!) O Canada Inagural Report
10-13 – PrimeX Thoughts (a.m.)
10-12 – (BTI) Bank of Queensland profit falls on bad debt surge
10-12 – Sept PrimeX Remit Summary & Jumbo-Prime / Mid-to-High End Housing Overview
10-11 – PrimeX Update FW- 10-11 – PrimeX – Two Things
10-10 – Insta-Refi Program Update – BAC Ate Most of the Benefit
10-9 – Sov Downgrade Forecasts…Spain-fslash-France on Deck at Moody’s
10-9 – Sept Legal Default & FC Activity – Jumbo in Focus
10-7 – PrimeX Data Refresh & Risk Update
10-6 – (UPDATE 1) – Prime Credit Short FW- 10-5 – Prime Credit Short…Repo Issues etc
10-6 – Bank Short Trades off PrimeX Carnage FW – Update PrimeX Carnage – Houston, We Have a Problem
10-6 – Update PrimeX Carnage – Houston, We Have a Problem
10-5 – Prime Credit Short… Repo Issues etc
10-4 – Urgent – Non-Agency RMBS Repo Issues
10-4 – GENWORTH – Mi Co’s (UPDATE 1) RE- 10-3 – Keep an Eye on the MI Companies
10-4 – FW- Moody’s Sovereign Rating VS CDS Implied
10-3 – Housing Market Stance Summary Into Year-End
10-3 – Canada & Oz Housing and Banks – The Jig is Up
10-3 – Keep an Eye on the MI Companies
10-1 …Banks/MERS/49 AG Settlement
9-28 – US Bank on Mortgage Trustee Liability
9-23 – Banks Not Wanting to Lend MYTH / Rates at Historic Lows
9-22 – Housing Long / Short Trade Idea – On New Home Sales Data Release at 7am EST on Monday 9-26
9-22 – West Coast House Price Crash / Compression Happening Right Now
9-21 – MBS Fraud/Putback Suits – JPM’s Very Own “Countrywide”
9-15 – Home Builder Long Trade on August Existing Home Sales Beat Next Week
9-9 – Resi, CandI, Ag, Apt & Land Bank Risk — History / Future of Default, Foreclosure & Mod BUBBLE
9-9 – (UPDATE 1) – LPS Flyer 9-8 – BAC Goes Postal (August NOD Surge in Perspective)
9-9 – (UPDATE 1) – Auto-Superduper-Insta-Mega Refi 9-2 – Auto-Mega-Insta Obama Refi Plan
9-8 – BAC Goes Postal (August NOD Surge in Perspective)
9-8 – August PrimeX Remit Summary & Jumbo-Prime / Mid-to-High End Housing Overview
9-7 – (#3) – Wachovia Liquidations Heating Up
9-7 – (#2) – Bank 2nd Lien Assets Evaporating at Record Highs in August
9-7 – BAC – Off the Hook AUGUST Resi Liquidations
9-6 – JPM, WFC, COF – Extreme Legacy Loan/MBS Exposure
9-2 – Auto-Mega-Insta Obama Refi Plan
8-30 – New Home Sales, Pending Sales, CS
8-29 – BAC Cranks up the Foreclosure Furnace…Record Highs are Back
8-25 – (UPDATE-1) Insta-Refi Long-Term Devastation – Impact FW- 8-25 Boxer Insta-Refi Calcs
8-24 – Two Critical Things – Mortgage, Banks, Housing, Consumer
8-21 – “Refi’s Will Save the Economy” (UPDATE-2) 8-10 – Mortgage Rate Plunge, Refi’s, Bank’s Etc
8-18 – Existing Home Sales – Summary – Abysmal 8-16 – Housing Miss on Tap for Thursday
8-16 – Housing Miss on Tap for Thursday
8-15 – The Mod & Robo Infection Points — The Distress is Still Out There…Festering
8-13 – Amherst Goes After Banks – “ Waterfall ” of Plaintiffs
8-12 – Real Estate Appraisals (Process) Weigh on House Prices
8-11 – July Default & Foreclosure Activity (Banks, Servicers, ABX, PrimeX) / RealtyTrac Front-Run
8-10 – Mortgage Rate Plunge, Refi’s, Banks Etc
8-8 – ABX Buy (One Tranche – Watch List)
8-8 – RE- MI Failure – Bank, MBS & GSE Risk
8-8 – MI Failure – Bank, MBS & GSE Risk
8-7 – Downgrade – Housing & Finance
8-2 – LPS / July Proprietary Foreclosure Data
7-29 – Oz House Prices – V. Important for Those Following Oz Housing
7-22 – Mortgage Interest Deduction Chop-Chop
7-14 – Rates vs Mortgage Applications & Boxer’s Refi Bill
7-12 – Q2 JPM, Citi, FHN & ZION NPA Results
7-12 – Big Bank Q2 2nd Lien Distress Results
7-6 – (UPDATE 1) – ABX & CMBX Retreat & Divergence FW- 7-2 – ABX, CMBX, PRIMEX
7-6 – First Look – June Legal Default & Foreclosure Update
7-4 – Bank’s & Their HELOC Mess Featuring PNC
6-29 – Pending Sales Front-Run and Short Sale Gaming
6-28 – BAC… US Bank on the Mind FW – Mortgage Trust Banks Finally Under Investigation… Interesting
6-26 – Barron’s Trashes the MI Co’s
6-26 – Important on Case-Shiller/ABX, CMBX, PrimeX
6-24 – Mortgage Refi’s and 2.5% 10-year Notes
6-22 – Builder Trade Update & Two House Sales Jaw-Droppers
6-17 – May Defaults & Foreclosures/Stealth Liquidation Event
6-15- May NAR Existing Home Sales Precap – Records Broken (Again)
6-14 – Mortgage Trust Banks Finally Under Investigation… Interesting
6-24 – Mortgage Refi’s and 2.5% 10-year Notes
6-22 – Builder Trade Update & Two House Sales Jaw-Droppers
6-17 – May Defaults & Foreclosures/Stealth Liquidation Event
6-15- May NAR Existing Home Sales Precap – Records Broken (Again)
6-13 – May Resi Default & Foreclosure Report/RealtyTrac Front-Run
6-12 – (UPDATE 2) – The End of Resi Can-Kicking
6-9 – Crash in Mortgage Rates of Little Benefit
6-8 – Housing’s Bomb in Waiting – QRM Rules – Federal Proposal Would Toughen Debt Restrictions
6-8 – Housing’s Bomb in Waiting – QRM Rules – Federal Proposal Would Toughen Debt Restrictions
6-7 – Auto Credit & Sales Off a Cliff
6-06 – Merrill on Housing – Extreme Negative Equity
6-03 – Yet Another Big Housing Risk Nobody Talks About
6-2 – Alt-A, Subprime, Jumbo Prime Collateral More Alike than Most Think
5-31 – ABX Getting Pummeled on CS – PrimeX on Deck
5-27 – April Pendings Quick Recap
5-26 – Mortgage Can-Kicking Era is Over
5-25 – Mortgage Servicer Paradigm Shift
5-19 – (UPDATE 1) – House Sales –> April NAR Existing Home Sales Pre-cap
5-17 – April CA House Sales – 11th Month into Double Dip
5-10- Top Bank- Servicer April Foreclosure Detail
5-9 – 28.4% Neg Equity – Not Even Close to Real-Life
5-9 – (HRB) (BN) Mortgage-Bond Investors to Seek H-and-R Block Unit Repurchases (2)
5-8 – April Foreclosure Results – RaltyTrac Front-run – Careful
4-27 – (UPDATE 1) Case-Shiller Stand-Outs (NY, OR, WA, MA, CO, CA) – On Case Shiller
4-22 – (Added Santa Clara Co – Silicon Valley) – Jumbo Distress & WFC, JPM, BAC, C
4-22 – Jumbo Distress & WFC, JPM, BAC, C
4-19 – Mid-to-High End Housing Case Study
4-15 – Very Important – March Existing and New Home Sales Precap
4-14 – USB Q1 NPA Activity / Trustee & Servicer Wars
4-13 – STI & FHN Q1 NPA Activity
4-12 – Select Regional Bank Q1 NPA Results
4-12 – BAC Q1 NPA – The Liquidation Machine
4-12 – (Another) Foreclosure Upset Coming Wed Night – March RealtyTrac Front Run
4-11 – JPM Q1 Resi NPA Activity – Out of Control
4-11 – (UPDATE 1) – CVBF & WIBC Unusual C & I Default Activity
4-9 – (UPDATE 1) – March Foreclosure Activity — Very Important – March Foreclosures SURGE – Look Out
4-7 – Builders / New Home Sales / Existing Sales
4-6 – The Housing “Affordability” Myth
3-30 – On Pending Sales – Nothing to See Here
3-29 – On Case-Shiller – More to Come
3-25 – BAC JPM WFC Resi Loan & REO Craziness
3-25 – Important – Servicer Housing Liquidation Wave Validated
3-24 – Housing – Grim Un-fundamentals
3-23 – (UPDATE 3) – Final-Final Important Point on New Home Sales
3-23 – (UPDATE 2) “The Weather” Spin New Home Sales
3-23 – (UPDATE 1) – Direct Hit – New Home_Sales – Final Numbers
3-21 – March MTD Foreclosures Surge / BAC Leads the Way / Front-Running the Robo-Settlement
3-21 – CA February House Sales – “Double-Dip” (Continues) Report
3-21 – (UPDATE 1) – Existing Sales (Housing Depression) 3-16 – Existing Home Sales Precap
3-17 – Ouch – San Fran Bay Area YoY Feb House Prices
3-17 – New Home Sales Precap… Another Record Low
3-16 – Existing Home Sales Precap
3-15 – Housing Timeline / Big Bank Foreclosure Completions Mid-March Update
3-7 – Foreclosure Upset Coming Wed Night
3-4 – On Q1 “Mortgage Banking” & The Banks
3-4 – Feb Mo. Foreclosure Preview – Sickly Market
3-3 – CVBF & WIBC Unusual C & I Default Activity
3-2 – BAC, C, JPM, MERS, PNC, STI, WM, WB, WFC – Clear Trends
3-1 – Banks- PNC 10k & “The Great Modification Bubble Implosion”
3-1 – QRM Rule – Near Worst Case Scenario Floated
2-24 – …House Prices – The Quickening – Adjust your HPI Lower
2-24 – Oh My – New Home Sales Recap…Another Record Low
2-24 – On Admin’s Robo Settlement in WSJ this morning
2-23 – House Sales & Prices – NAR Over-Estimating Scandal Brewing
2-22 – Important – On Case-Shiller
2-18 – Double-Dippin – Jan CA House Sales_…Official Volume & Price Double Dip
2-17 – (UPDATE 1) Underweight Housing & Related Sectors
2-16 – (UPDATE 1) Wells Fargo Foreclosure Volume Anomaly (Atkins Correlation?)
2-14 – (UPDATE 1) WFC / PNC/ JPM
2-10 – (UPDATE 2) RealtyTrac Lagged Data Mis-Reporting – January Foreclosure Completions Surge
2-9 – Wells Fargo Foreclosure Volume Anomaly (Atkins Correlation?)
2-8 – (UPDATE 1) Housing Upset…“The Set-Up”
2-8 – Housing Upset…“The Set-Up”
2-3 – Robo-West (BAC, PNC, FNMA, IBM) Study
2-1 – January Foreclosure Completions Surge
1-28 – Reminder FW- 1-19 – EWBC, UMPQ, ZION Q4 Loan Performance
1-27 – Pendings – Notable Trouble
1-27 – Reminder – Pending Home Sales Beat @ 10am EST
1-26 – Mortgage Sector Implosion Gets Real Serious
1-25 – PNC & RoboWest (Update-1)
1-25 – BAC Uh-Oh – Robo-West (Update-2)
1-25 – BAC & RoboWest…Most Interesting Findings
1-21 – (Urgent) Validation of Foreclosure Process Breakdown
1-20 – A Breakdown in the US Foreclosure Process
1-19 – Existing Home Sales Recap
1-19 – Reminder FW- 1-18 – Dec Existing Home Sales Precap
1-19 – EWBC, UMPQ, ZION Q4 Loan Performance
1-18 – Dec Existing Home Sales Precap
1-16 – WFC Q4 Resi Loan Performance
1-16 – USB Q4 Resi Loan Performance
1-16 – STI Q4 Resi Loan Performance
1-16 – PNC Q4 Resi Loan Performance
1-16 – FHN Q4 Resi Loan Performance
1-16 – CYN Q4 Loan Performance
1-16 – Citi Q4 Resi Loan Performance
1-16 – BAC Q4 Resi Loan Performance
1-15 – Goldman – JPM Residential “Credit_Metrics” More Negative
1-14 – JPM – Other Banks Q4 Residential Performance
1-13 – Initial Claims (Mortgage Jobs)
1-11 – The Banks… Q4 Resi NPA’s
1-8 – (Important) Foreclosure Verdict Detail – A Swan of Another Color
1-7 – (BN) Foreclosures May Be Undone by State Ruling on Mortgage
1-5 – In Remembrance of the Mortgage Sector & Related Jobs/Spending
12-29 – Subprime Implosion 2.0 on Deck in 2011
12-28 – GMAC/Ally/Rescap and Fannie
12-23 – LOWEST ABSOLUTE NEW HOME SALES VOLUME EVER
12-22 – Existing Home Sales – Reality
12-21 – (PNC, BAC) RoboPutbackDirtyMBSMortgage-Gate Update
12-17 – Quick Recap – Single Family Housing Starts – Permits Also Double-Dipping
12-15 – Housing – Wealth-Effect & Higher Rates Good For Housing???
12-14 – Rates/BAC/Banks/Lending
12-14 – Epidemic Levels_of “Effective” Negative Equity
12-13 – Interest Rate YoY Deja-Vu
12-13 – Housing & Finance…2010 Ending with a Bang (or explosion)!
12-10 – Banks/Servicers/Foreclosures…Complete Disarray
12-9 – Mortgage & Housing Paralysis
12-9 – MBS Buyback News – Huge FHLB MBS Buyback Suit Given Green Light – JPM, MCO, MHP
12-9 – BAC, COF, GMAC, GSE, JPM, MERS, PNC, STI, USB, WFC Daily Foreclosure Activity
12-8 – Oh My 3.31%/ Principal Reductions
12-8 – (Important Update) Foreclosure-Freeze Daily / De facto Rate Hike
12-7 – Mortgage & Housing Suddenly in a lot of Trouble
12-7 – Foreclosure-Freeze Daily
12-6 – (Urgent) Reuters Special Report on LPS
12-5 – It’s Looking Systemic (BAC, C, COF, GMAC, JPM, PNC, STI, WFC, USB)
12-2 – (UPDATE-1) – Pendings RE 12-2 Pendings
12-2 – Mortgage Rates / Jobs / Housing Negative Wealth Effect Resumes FW-12-2 Pendings
11-30 – Big-Bank Foreclosure-Freeze Weekly Update / Case Shiller
11-24 – Oct New Home Sales Catastrophe
11-24 – Existing Sales Drill-Down
11-24 – (UPDATE 1) BAC, C, GMAC, JPM, MERS, PNC, USB, WFC
11-23 – BAC, C, GMAC, JPM, MERS, PNC, USB, WFC
11-18 – October CA House Sales Report
11-15 – Mortgage Sector & Mortgage-Gate Round-Up
11-7 – Don’t Discount GSE Putbacks
11-5 – (UPDATE 1) 10q’s, Pending Sales, Bank Revisionist History
11-5 – (UPDATE 1) Rates – Ouch
11-5 – Mortgage-Gate / Bank Update
11-3 – Mortgage-Gate, 2nd Mortgage Cheating, CA Bond Defaults, Builders
11-3 – USB, PNC (Affidavit-Gate) & The Builders
11-2 – (UPDATE 2) CA Housing (Un)fundamentals
11-2 – (UPDATE 1) Lost Vegas Housing (Un)fundamentals
11-1 – High-End Houses – Las Vegas
10-31 – Affidavit-Gate & Putback-Gate Round-Up
10-29 – Foreclosures, Housing, Home Improvement Retailers, Banks, Title Companies, Builders
10-28 – WFC & WB Put-Back & Whole Loan Loss Risk
10-26 – CITI Best-Case Put-Back Risk Quantified
10-26 – (UPDATE 2) Existing Home Sales RE
10-25 – BAC Best-Case Put-Back Risk Quantified
10-25 – (UPDATE 1) Existing Home Sales
10-24 – Mortgage-Gate Miscellaneous
10-22 – (UPDATE 1) BAC Put-Backs
10-22 – Existing Home Sales Precap
10-21 – (High-Importance) BAC & All Banks
10-20 – PNC, STI, CYN, UMPQ Q3 Resi NPA Detail
10-20 – Top Private Label Securitizers & M-Gate Derivative Plays
10-20 – BAC Lawsuit Consortium
10-19 – Put-Back Gate Loss Estimate Far Too Low
10-19 – WFC, USB, M&I Q3 Resi NPA Activity
10-19 – Mortgage-Gate Spin Jobs / Put-Back Threat Heats Up
10-18 – HRB – Put-Back Risk Quantified
10-18 – Mortgage-Gate Risks Going Forward
10-15 – Goldman PLS & GSE MBS Exposure
10-15 – Citi – Q3 Resi NPA Activity
10-15 – Mortgage-Gate & The Financials
10-14 – The Financials/Mortgage-Gate/Capital Deficit Threat
10-13 – September FORECLOSURE BLOWOUT
10-12 – Amherst Chimes in on Mortgage-Gate
10-11 (pm) – Mortgage-Gate – Note From a Bull
10-11 – TROUBLE – Mortgage-Gate
10-10 – BAC & JPM Q310 Resi Default & Foreclosure Activity
10-8 – Wells Fargo Doubles Wachovia Pay Option Foreclosure Volume
10-7 – (UPDATE 2) ‘Mortgage-Gate’
10-7 – ‘Mortgage-Gate’ Long/Short Plays
10-6 – Lowest 30-year Fixed Mortgage Rates Ever Today
10-5 – Pending Sales – Nothing to See Here
10-4 – (UPDATE 2) Affidavit Gate
10-3 – (UPDATE 1) Robo Signer RE 10-3 – Robo-Signer Scandal…Potential to get out of Control
10-3 – Robo-Signer Scandal…Potential to get out of Control
10-1 – Builder Put-Back Risk at Record Levels
9-29 – More Micro – Phoenix Home Sales Proxy
9-29 – Early Innings of Second Mortgage Losses
9-27 – Housing…Let’s Get Micro (Not for the Faint of Heart)
9-27 – Tomorrow’s Case-Shiller
9-24 – Worst August New Home Sales Volume in History
9-22 – House Prices Expectations
9-17 – CA August Home Sales Double Dippin’
9-16 – WFC & JPM Aug Pay Option ARM Detail / RealtyTrac Aug Breakdown
9-14 – “V”Shaped Default & Foreclosure Recovery – The Tide has Changed
9-13 – Interesting “Non-Headline” Mortgage & Housing News
9-13 – (BN) BofA May Owe $20 Billion in Mortgage Buybacks, Insurers Say
9-9 – Builders – Interesting Note
9-8 – BAC, C, JPM, USB, WFC – The Foreclosure “Quickening”
9-6 – Pending Sales Actually Lower in July
9-5 – Obama’s “Major Mortgage Aid” Plan
9-5 – Update to 3-3 – Bottom Line – Principal HAMP Mod
9-2 – August Bank, Servicer & MERS Specific Default & Foreclosure Activity
9-1 – August Foreclosure Blow-Out
8-26 – Existing & New Home Sales Recap
8-23 – July CA Home Sales Bode ill For Tomorrow’s Big Report
8-19 – (UPDATE 3) July Existing Home Sales
8-12 – Housing Tax-Credit Extension Means Little to Sales
8-11 – Treasury & HUD (Housing) Support
8-11 – RealtyTrac Foreclosure Report Tomorrow
8-7 – Wide-Scale Principal Reductions are Coming Near-Term
8-5 – More Rumors of Aug GSE Surprise
8-3 – STI, CMA & JPM — NPA_Update
8-2 – The August Housing Surprise
7-30 – (UPDATE 3) GSE Instant Refi
7-29 – (Update 2) GSE_Refi-Button
7-28 – (Update 1) Careful…QE1.99 Might be on Tap
7-28 – Careful…QE1.99 Might be on Tap
7-26 – JUNE NEW HOME SALES LOWEST ON RECORD FOR ANY JUNE
7-22 – July 2010 Home Price Expectations Survey Results
7-22 – (Important) June Existing Home Sales Surge
7-21 – WFC/WB Resi Credit – The NPA’s are There if You Know Where to Look
7-21 – …USB & DSL Q2 Default & Foreclosure Results.
7-15 – June Foreclosure Breakdown
7-14 – Q2 Wachovia Pay Option Default & Foreclosure Performance Notably Worse
7-14 (UPDATE 1) WaMu (JPM) Pay Option Default & Foreclosure Performance
7-13 – MI Bank Q2 NPA Activity
7-13 – A V SHAPED BOTTOM! …In Housing Inventory Levels
7-12 – Q2 Bank-Specific Resi/Non-Resi NPA_Guide
7-8 – Q2 Big-Bank Default & Foreclosure Activity Summary
7-8 – ALERT – New H&R Block SEC Filing
7-8 – Q2 Big-Bank Default & Foreclosure Activity Summary
7-7 (#2) – Interesting Q2 Early-Stage Delinquency Data
7-6 – Capital One’s Forgotton Subprime Alt-A Mega-Exposure
7-5 (UPDATE 1) Chase Cries “Uncle”
7-4 – Pending Home Sales – Great Stat
7-1 – M&I Bank — Interesting Default
6-30 – (UPDATE 1) JPM & WFC Pay Option ARMs
6-25 – (PRN) Fannie Mae Increases Penalties for Borrowers Who Walk
6-25 – Very Interesting May HAMP Data
6-21(pm) – Existing & New Home Sales Update
6-20 – Shadow Inventory House Price Roll-Over Timeline
6-18 – June Housing Review & Preview
6-14 – American Banker Mortgage & Housing Piece
6-14 – Alarming Home Sales Data
6-9 – (UPDATE 1) Added Update & Wells Fargo Pay Option Data
6-2 – May Forclosure Preview & Review
5-25 – EverBank Notice – 95% Financing on Foreclosures
5-24 – April Existing Home Sales Notables
5-21 – CA House Sales Disappoint…Again
5-19 – April Housing Preview – Prices – The Builders
5-18 – HAMP Principal Reduction Misdirection Campaign to Begin Soon
5-13 – (UPDATE 1) April Foreclosures
5-12 – April National Foreclosure Release Preview
5-11 – April Bank-Servicer Foreclosure Stats – All Prop Types
5-10 – April Foreclosure Stats Across Various Loan & Prop Types
5-8 – April Foreclosure Results
5-3 – April Defaults, Foreclosures & Workouts – All Loan Types
4-28 – Part 2 This Ain’t Credit You’re Lookin At
4-27 – New Vintage Subprime Lending Gone Awry (Again)
4-26 -March Modification Bubble Breakdown
4-26 – New Vintage Subprime Lending Gone Awry (Again)
4-25 – BofA’s HELOC Indicator
4-23 – New Home Sales – Gimme a Break
4-23 – New Loan Modifications Decline Sharply While Distressed Liquidations Rise Sharply
4-22 – This Ain’t Credit You’re Lookin At
4-21 – March House Sales Review & Preview
4-19 – STI…Q1 NPA Activity Most Interesting
4-18 – Q1 Bank NPA Data (CMA, CYN, WB, WFC, UMPQ, ZION, FHN)
4-16 – WB CDOs
4-15 – Record High Foreclosures – Beneath the Headlines
4-15 – Preview – National Foreclosure News Tomorrow
4-14 – WFC’s Pay Option ARM NPA Activity in Q1
4-14 – UMPQ, CYN, STI Q1 NPA’s
4-14 – CMA and FHN – Two Interesting Q1 Cases
4-13 – Q1 C&I Tracking
4-13 – First Horizon
4-11 – LPS Delinquency Report – Say What?!?
4-11 – Banks in Asset Liquidation Mode Suddenly
4-11 – Bank Originator March NPA Data 2
4-10 – Small-Cap TARP Banks – Time to Pay the Piper
4-9 – Defaults & Foreclosures…Let the (Liquidation) Games Begin!
4-8 – Consumer Spending & Savings From Missed Mortgage Payments
4-8 – City National Bank
4-6 – March Foreclosures – Whoa – Record Highs
4-1 – The Banks – Notable March and Q1 Foreclosure Activity
3-31 – Bottom Line – Principal HAMP Mod (Update 1 )
3-30 – DHI – Builder Put-Back Pain – First Signs
3-29 – Bank NPA’s Continue Unusual Move into Q-end
3-29 – HAMP Principal Mod – A Step Backward
3-26 – BofA’s New Principal Mod – SORRY, NO CIGAR
3-25 – Big News Coming Tomorrow From Treasury on Mortgage Space
3-24 – New & Existing Home Sales Quick Recaps
3-23 – MGIC vs BofA — And Soon to Be…’vs. Everybody Else’
3-22 – BAC, WFC, JPM & 2nd Lien Mods/Liquidations
3-22 – 2010 Mortgage Lending Double-Dip
3-20 – More on Put-Backs and Lawsuits
3-19 – CA HOUSE SALES DOUBLE-DIPPING
3-18 – 2010 YTD and FY Mortgage Volume Plunge
3-17 – Banks/Lack of Guidance/Downgrades/Cap Raising/Earnings/NPA’s
3-16 – CA House Sales – Lots of Foreclosures Needed Right Now
3-15 – HAMP is Getting Very Interesting
3-14 – No Bid for High End Houses
3-13 – Feb National Foreclosure Breakdown
3-12 – Writing Down/Off Second Mortgages
3-9 – Feb BAC & WFC Originator & Servicer NPA Reports
3-7 – Feb Wachovia Pay Option Portfolio Defaults & Foreclosures
3-5 – GSE – Big Bank Put Backs
3-5 – Builder Loan Put-Backs on Deck
3-4 – BAC, WFC Making Their Foreclosure Move!
3-3 – Small-Cap Bank Loan Performance
3-2 – Fannie Mega-Delinquency and Buyback Data
2-28 – MI Companies Join the Put-Back Frenzy
2-26 – New Obama 60-Day Late/HAMP/Foreclosure Proposal – Not What Most Think it is
2-25 – New Home Sales Tragedy
2-25 – Big Banks Preparing the Sector
2-24 – Subprime & Alt-A Implosion 2.0
2-23 – Put-Backs – the 2010 Wildcard Threat
2-19 – Jan New and Existing House Sales Preview & Forecast (CA and National)
2-18 – HAMP Stats – What to Focus on
2-17 – “Half of All Mortgages Sill Above 6%” (They Can’t Refi)
2-13 – Shadow Inventory Update
2-12 – GSE buyout policy change 2010
2-10 – Projected 50% 2010 Mortgage Origination Haircut
2-8 – GSE Put-backs and SunTrust
2-4 – Checkmate! Treasury Confirms (significant HAMP changes)
2-4 – Banks, Insurers, Investors Going to War (with each other)
2-3 – Asset Liquidation Phase Begins
2-1 – Big HAMP Changes Coming – What Does This Mean? Not What You Think
2-1 – Financial’s to Eat Their Own Cooking
1-30 – Wiped-out 2nd Mortgages
1-29 – In-Depth Look into Bank of America’s Resi Pipes
1-28 – In-Depth Look into Chase’s Resi Pipes
1-27 – In-Depth Look into Wells Fargo’s Resi Pipes
1-26 – In-Depth Top Resi Mortgage Servicer Review
1-21 – Existing Home Sales Preview and Estimate
1-21 – Banks – The Rest of Them
1-20 – 2010– Foreclosure & Short Sale Flush
1-18 – HAMP Update – What to Focus On
1-15 – WFC – Pay Option ARM/Earnings
1-12 – FHA – The Gov’t Gets it Right…for a change
1-11 – Dec Default & Foreclosure Review/Jan Foreclosure Update/BAC Drill Down
1-7 – Q4 Agency Loan Margins
1-5 – Pending Home Sales
1-4 – WFC (WB), COFI and Pay Option ARMs
12-23 – Garbage Man Indicator
12-23 – IT’S PRIME TIME
12-22 – (UPDATE 1) Existing Home Sales Reality
12-20 – Existing Home Sales Reality
12-15 – Nov Existing Home Sales Preview & Review
12-10 -HAMP – Bottom Line…Goose Egg
12-8 – Very Early Look – Nov CA House Sales
12-3 – MILLIONS More at Risk of Default Than Most Think
11-30 – Deep Thoughts on the Big Banks
11-30 – “Flip-Adjusted” House Sales Revelation
11-27 – RATES! But…
11-23 – Inside, Existing Home Sales
11-20 – Buying Distressed Props in the Primary & Secondary Markets
11-19 – Oct CA House Sales — YoY Troubles
11-19 – RATES ARE GREAT! Perhaps for a Long Time Contrary to Popular Opinion
11-18 – Mid-to-High End Foreclosure Case-Study
11-16 – Uh-Oh – CA House Sales – Back to Back Lower YoY Comps
11-13 – YEARS of Mid-to-High End Supply
11 -12 – Mid-to-High End Housing & Borrower Reality
11-6 – Mid-to-High End Short Sale fraud (and bank loss) Case Study
11-4 – Wells / Wachovia Drill-Down
10-28 – Inside New Home Sales
10-23 – WTF? NAR’s Voodoo – Actually Home Sales Down MoM
10-22 – Existing Home Sales Update – “Flip-Adjusted” Sales
10-19 – CA Sept Home Sales Down YoY
10-13 – Preview of CA & National Home Sales
10-11 – Q3 Delinquency, Default & Foreclosure Action – Surprise Worsening
10-8 – Housing Update, It’s Refi-Time, Negative Equity, More on Shadow Inventory, The Real Housing Market
10-2 – High End Housing Languishing
9-30 – Sept Housing Preview — Here We Go Again
9-29 – More Housing Unintended Consequences
9-25 – Inside Aug New Home Sales
9-24 – Inside August Existing Home Sales
9-22 – Existing Home Sales, Tax Credit, HAMP Consequences, Affordability Charade
9-18 – CA House Sales DID Plunge
9-16 – End of Season Mid-to-High End Price Dump
9-13 – New Definition of “Shadow Inventory”, Foreclosures, The Wave Update, HAMP Moratorium, Option ARM Recasts
9-12 – August CA House Sales Look to Have Tumbled
9-4 – Ominous Mid-to-High End Housing Data Point
9-3 – Mortgage Insurance Volume Plunges
9-2 – National Pending Sales Plunge
9-1 – Pay Option ARM Implosion Still on Track
8-30 – CA July Housing Starts Fall Off Cliff — Leading Indicator?
8-29 – July SF Bay House Prices up 146.4% Annualized – Now, That’s is a Bottom!
8-26 – New Home Sales Reality
8-25 – DataQuick Confirms Ultimate in False Bottoms
8-21 – July House Sales Uncovered
8-19 – Part 2 – Housing Market Hell Week
8-18 – Part 1 – Housing Market Hell Week
8-13 – Foreclosure Wave — Now a Tsunami of Sorts
8-11 – ‘Affordability’…Housing’s Red Herring
8-10 – ACORNs Vision of the Future of Loan Mods – Look Out
8-7 – Mortgage Rates, Real Bank-Portfolio Jumbos, Mortgage Apps
8-6 – House Sales Math Problem/Appraisal Red-Lining/Neg-Equity/CA Tax Base Factoid
8-5 – Taylor Bean & Colonial – Another Significant Mortgage & Housing Market Blow
8-4 – Pending Sales in Context
8-1 – Refi-Boomlet & Mortgage Mod Fizzle
7-28 – HOUSE PRICES – The Next Leg Down
7-27 – New Home Sales Reality
7-23 – Existing Home Sales…Something to see here
7-22 – NO CREDIT FOR YOU!
7-21 “57% Credit Card Default Rate”
7-20 – “Leveling-Out” at the Peak
7-19 – CA June Home Sales Rpt – Headlines Say ‘Sales & Prices Up’
7-15 – Mortgage & Housing Hype, in Context
7-13 – The CA Default & Foreclosure Wave
7-11 – Meredith Whitney on Financials/Mods/Losses (I disagree)
7-7 – High-End Housing (Psychology of it all/default surging/end of season price slashing)
7-2 – We Can’t Modify our Way out of This…Nor do we want to
7-1 – Freddie Mac…We Own These Guys for Good
6-30 – Credit Scores “Past Performance Does Guaranty Future Results”
6-27 – HVCC Hell
6-26 – Mid-to-High End Housing, Jumbo Prime RMBS, Condos
6-24 – Mortgage Insurance Becoming Scarce
6-22 – Obama 105% and New 125% Loans — Becoming Messy
6-19 – Careful…Bay Area House Prices Surge (volume precedes price – lower)
6-18 – “BUY THE BANKS – Defaults Have Peaked & Housing Has Bottomed” – Not!
6-17 – Mortgage Apps & Rates Plunge
6-15 – New CA Foreclosure Law…More Can-Kicking and Re-Levering
6-12 – The Next Foreclosure Wave is Here – What to Look out For in the Near-Term
6-10 – CA May Foreclosure Drill-down – The Numbers Beneath the Numbers
6-8 – Real-time Mortgage Rate Update – Chaos
6-7 – It’s You Move Ben – the Next ‘Shock and Awe’
6-5 – Current Negative-Equity Figures at the Foreclosure Stage — Average CA Foreclosure is more than 50% Underwater
6-4 – The Age of Real Estate False Bottoms
6-3 – Pending, Shmending — Pending Home Sales a Bad Gauge of Future Total Sales
6-2 – Foreclosure Surge at Some Servicers in May
