US, Canada & Australia/New Zealand Data & Sector Experience Driven Buy Side Research and Strategy
Macro and Micro US & Foreign Housing, Finance, Credit & Related Sectors; Proprietary Resi and C&I NPA Data
Distribution is strictly limited in order to ensure integrity and relevancy of themes and ideas.
M Hanson Advisors 2012 Coverage Models
1) US Housing, Finance & Credit
J & M Hanson & Barry Eisbruck
- Housing, finance, mortgage credit, mortgage credit indices (focus on subprime and prime credit / ABX, PrimeX indices)
- Push PDF research & notes; proprietary bank-originator, servicer & trust specific default through foreclosure data & reporting; anytime access to analysts/strategists and data
2) Australia/New Zealand Macro Economy, Housing, Finance & Credit
David Llewellyn-Smith, lead analyst & strategist / Leith van Onselen, co-lead analyst & strategist
- Macro economy, housing, finance, credit
- Push PDF research & notes and anytime access to analysts/strategists and data
3) Canada Macro Economy, Housing & Finance
Ben Rabidoux, lead analyst & strategist
- Macro economy, housing, finance, credit
- Push PDF research & notes and anytime access to analysts/strategists and data
4) Sovereign & Bank Credit
Barry Eisbruck, formerly of Moody’s and Hayman
- Specializing in Moody’s translation & forecasting
- Included as part of any offering
‘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.
5-8 -(Canada) Toronto “Ghost City” Phenomenon
5-7 – Genworth Australia Update
5-7 – (Canada)- Monthly Credit Monitor / Home Equity Withdrawal Risk
5-4 – April Foreclosures (UPDATE 1) FW- 5-3 – April Foreclosure Activity at Cycle Lows
5-4 – April Foreclosure Activity at Cycle Lows
5-3 – (Australia) The “Minsky Moment”
5-2 – AZ Foreclosure Bubble – WOW!!! In April, Investors Paid a 25% PREMIUM for Foreclosures
5-1 – (Canada) Weekly Housing, Fin & Credit Wrap…“The Quickening”
4-28 – House Bidding Wars! That’s so 2010
4-27 – (Australia) Weekly Wrap…“The Quickening”
4-26 -…House Prices at “a” Bottom; Again!!!
4-25 – (Canada) Mo Housing Round-Up
4-25 – Canadian Mortgage/Housing/Bank Implosion
4-24 -…March New Home Sales Internals (No “Durable Recovery”) Yet
4-23 -…Recap…Trade Ideas (US Housing, Fin & Credit)
4-22 – Canadian “Alt-A & Subprime” Grabbing Market Share
4-19 -…Important/Builders…Compelling March NAR Datapoint
4-19 -…Home Improvement/Rehab Theme in Trouble
4-19 – (Australia) Weekly Wrap…“The Quickening”
4-19 – CA Housing Markets Seizing-Up (More Evidence)
4-18 -…March Housing “Bottoms” Always Occur…Year in, Year out
4-18 -…March Existing Sales Front-Run
4-18 – (Canada) A Subprime Party…Everybody’s Invited / Few Will Leave Sober
4-18 – (Australia) April Mo Housing Credit Update…“The Quickening”
4-18 – Notable March CandI Bank / CMBS Specific Defaults
4-17 -…CA Real Estate About to Seize Up
4-15 -(Canada) Toronto Condo Mania Update
4-15 – (Australia) Weekly Wrap…“The Quickening”
4-13 -…JPM & WFC Q1 Bank-Specific NPA…Resi Reserves Have to Increase
4-12 -…Housing “Triple-Dip” Almost Here…NV Housing Case Study
4-12 – Bank Earnings – “The Last Refi Boom”
4-10 – (Australia) Melbourne at the Precipice…
4-5 – (Canada) R/E Correction Would Gut Tax Base
4-5 -…Urgent on US Housing…Mind Blowing Numbers
4-4 – (Canada) Weekly Wrap…“the Quickening”
4-3 -…Most Common Things I Hear on Housing
4-3 – (Canada) Credit Tightening&helip;Bank Earnings & Mortgage Credit
4-2 – (v. Important) MARCH Foreclosure Mess…CA near FIVE YEAR LOW
3-29 – US Housing…NAR PR – Negative Builders/Macro Housing
3-21 -…Canadian Real Estate Assoc Running Scared
3-28 – Australia Weekly Wrap…“The Quickening” is quickening
3-27 -…Housing – 2009/10 vs 2012
3-27 – Canada Mo Credit monitor
3-26 -…Uh-Oh…Pending Sales Internals
3-25 – (Canada) Consumer Credit Tightening- Major Changes Proposed
3-25 – (Australia) Important- Monthly Housing Credit Monitor
3-23 -…New Home Sales Conclusion
3-22 -…Existing Home Sales Internals…No “Durability” or “Escape Velocity”
3-21 -…Canadian Real Estate Assoc Running Scared
3-21 – Toronto High-Rise Condo Plunge (UPDATE 1) FW- 3-20 – Toronto Condo Sales Plunge Continues
3-20 – (Uh!) Owe Canada…The Quickening
3-20 – M Hanson (Australia) Weekly Wrap “The Quickening”
3-20 – Toronto Condo Sales Plunge Continues
3-19 – Negative PrimeX (Repeat YoY, Worse Fundamentals)
3-16 -…Dash-to-Trash…Arizona Style / Supply Conundrum
3-15 – (Uh!) Owe Canada…Vancouver “Land Constraints”, Population and Prices
3-15 – Housing – Feb SoCal House Sales Internals…Disappointment Theme on Track
3-13 – Housing – Mid-to-High End Train-Wreck / PrimeX
3-13 – (Australia) – Weekly Wrap…The Quickening
3-11 – M Hanson…(AZ) Epicenter of Housings’ “Dash-to-Trash” Movement
3-9 – Canada – (BN) Ghost of Fannie Mae Haunts Canada as Exposure Worsens- Mortgages
3-8 – (Uh!) Owe Canada…BoC Flawed Affordability Indexing
3-8 (Canada) – Weekly Wrap…“the Quickening”
3-7 – …Fitch Gets It…Why Mods (and Principal Mods) are Doomed to Fail
3-6 – …(Ugly) US Housing Charts of the Day From LPS
3-6 – Housing Stat of the Day (Where have all the buyers gone?)
3-6 – Canada…Low Hanging Fruit
3-5 …BAC/CFC Foreclosure Speeds Flatten Out after Blast Quicker
3-1 -…MBA Mortgage Apps Point to Early Buyer Burn-Out
2-29 – Toronto Condo Market Crash Happening Right Now?
2-29 – Housing Upset…Rates Better Stay at Historic Lows
2-28 – (Uh!) Owe Canada – Weekly Wrap… “the Quickening”
2-27 – (Australia)…Weekly Down Under Wrap…the Quickening
2-23 – 1) True Existing Home Supply Huge 2) Goldman Light bulb Comes On
2-22 – UPDATE-1 (Existing Home Sales) Internals FW- 2-22 – Existing Home Sales Internals Confirm
2-22 – Existing Home Sales Internals Confirm
2-21 – Houston TX Jan House Sales Case Study
2-21 – (Aussie) – Weekly Housing, Finance & Credit Wrap
2-21 – Getting V. Bearish US Housing Sooner than Expected
2-18 – Canada- This is US 2007
2-17 – Fun, Winter Week Reading
2-17 – (Uh!) Owe Canada…Jan National Housing Round-Up
2-16 – Jan All Cal House Sales/Prices Disappoint
2-16 – Housing – Silicon Valley Woes Case Study
2-13 – (Australia)…Weekly Down Under Wrap
2-9 – The “All-Powerful” Housing Recovery Theme Final Innings
2-9 – AUS 10s FW- 2-3 – 10yr Futures – Technical damage near term (2.12, 10s)…long term unchanged
2-8 – …Mid-to-High End Housing (& Jumbo Loan) Pain Dead Ahead
2-8 – Canada Weekly (Credit Tightening) Very Important Observations
2-7 – (Australia) Weekly Down Under Media Wrap vol. 1.2
2-6 -…US Housing Lagging Investor Sentiment…by a wide margin
2-3 – (uh!) Owe Canada – Canada Credit Monthly “As Goes Credit”
2-3 – Golf Courses, Car Washes, Construction Sites, Landscapers, City Parks, Ice Cream Shops…
2-2 – (Uh!) Owe Canada – Things are coming into Focus
1-31 – Canada Weekly Housing, Fin & Credit Headline Recap
1-28 – ABX, CMBX, PrimeX Struggling (window into risk?)
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
2-19 – 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