Buffet Offers Help to Bond (commercial real estate financing) Insurers
On CNBC Tuesday morning Warren Buffett announced that
he has offered to help out three bond insurers by offering a second level
of insurance on as much as $800 billion in municipal bonds.
The three companies, Ambac Financial Group, Inc.,
MBIA Inc., and Financial Guaranty Insurance Company have…
“Foreclosure Avalanche” Prompts Servicer Survey
In a conference call/press conference on Thursday, the Conference of
State Bank Supervisors (CSBS) released its first report
on loss mitigation efforts as reported by 13 major
residential mortgage servicers.
Iowa Attorney General Tom Miller explained that the report grew out of
a concern dating back to last summer that the nation was facing
a “foreclosure avalanche.”
The first report did contain some interesting
findings…
Mortgage Rates Reclaim Last Week’s Declines
It was nice while it lasted but
rates last week reversed a four week downward trend and made up much
of the ground they lost a week earlier. However, they still remained well
below where they were at the end of 2007 when the four-week slide
began.
The volume of mortgage applications reported by
survey respondents continues to be much stronger than…
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