Well, At Least Rates On Treasuries Are Falling…
It’s going to be a rough morning (and then some), so let’s just get this out of the way…Lehman is going bankrupt (think mortgages) while Merrill avoids a similar fate…
It’s The End Of The GSE’s As You Know Them (Do You Feel Fine?)
The Federal government has officially seized control of Fannie Mae and Freddie Mac, and once again, no plugged-in person should have been caught by surprise. The question now, how will…
Radiance At Mission Bay Phase II Update: Officially “Suspended”
While Phase One of Bosa’s Radiance at Mission Bay was never designed to stand alone, it will for a while longer. With lenders requiring “at least two-thirds of the units…
Chase/U.S. Bank Crack Down On Jumbos, Sterling Bumps TIC Rates
Citing a “dramatic reduction in Jumbo volume levels,” “lack of Capital Markets appetite for Jumbo products,” and “worse than expected delinquency performance on these loans,” Chase is suspending “Non-Agency Fixed…
The Credit Crunch Climbs Up (And Down) The Real Estate Food Chain
Additional details from J.K. Dineen on what’s driving the sale of the seven proposed Renzo Piano parcels (not to mention a few other properties): California Mortgage and Realty President David…
A Less Than Smooth Closing Of Their Own: Financial Title Shuts Down
According to a plugged-in tipster, Financial Title received a cease and desist order courtesy of the Insurance Commissioner a few hours ago. And while escrows were to be transferred to…
JustQuotes: Industry Layoffs – Low In Numbers, High In Significance
“From mixed-use developers like A.F. Evans to home-builders like Lennar to investment management firms like MacFarlane Partners, real estate firms active in the Bay Area have been cutting middle and…
The Federal Government Breaks Out Their (Big Enough?) Buckets
First IndyMac, and now Fannie Mae and Freddie Mac, it’s been a mad week of bailing and pre-bailing backstopping for the Federal government. And what normally would have been an…
Alt-A Powerhouse IndyMac Takes A Step Closer To IndyDependance
As another plugged-in reader noted yesterday, IndyMac – second only to Countrywide in terms of indypendent U.S. mortgage lenders last year – has effectively stopped originating new home loans citing…
California Sues Countrywide (And Who Do You Think Might Pay?)
As Countrywide’s shareholder’s approved Bank of America’s takeover offer, California and Illinois filed suit against the mortgage lender for “luring borrowers into risky loans they couldn’t afford.” Countrywide and Chief…