🚀 go-pugleaf

On Wed, 27 Jun 2007 22:36:48 GMT, leroyblue@pillinor.net wrote:

>On Wed, 27 Jun 2007 01:14:08 -0500, David Agnew
><DavidAgnew@nospam.nul> wrote:
>
>>On Tue, 26 Jun 2007 22:28:54 -0500, CJT <abujlehc@prodigy.net> wrote:
>>
>>>Lugar is too little, too late.
>>
>>Bush has already guaranteed the bankruptcy of America and the eventual
>>military coup that will follow.  Americans who voted for Bush deserve
>>the government that will execute them.
>
>The economy is running at peak performance. A military coup is
>impossible in the US. You're a lunatic.

You fucking idiot.  Bush dry humps Halliburton to massive corporate
profits and you think that matters a fuck to the Middle Class who are
losing real adjusted wages, as well as losing their homes?  Go to
hell, you fucking wannabee house nigga.



Fed ponders mortgage default explanations
Pacific Business News (Honolulu) - June 12, 2007
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Most Emailed 
Are mortgage defaults on the rise because lenders are lax, or because
borrowers see little economic incentive to keep up the payments? 

The Federal Reserve Bank of San Francisco, which has jurisdiction over
Hawaii and the U.S. West, examined current research on the matter, and
found several possible factors in play. 

 
Mainland discussion of subprime defaults has focused on lax lending --
the implication being that some people were never qualified to be
given mortgages and shouldn't have gotten them. 

But FRBSF Senior Economist Mark Doms, in a report distributed Monday,
said subprime defaults are measurably lower in areas where home prices
are holding strong, and suggests that in these markets borrowers have
a stronger economic incentive to keep up the payments. 

"Delinquencies have occurred during a time of seismic shifts in the
patterns of house-price appreciation, shifts that were unprecedented
in terms of their size and suddenness and that varied widely across
metropolitan areas," Doms wrote. "Markets that recently experienced
greater house-price appreciation tended to have lower delinquency
rates and smaller increases in delinquency rates." 

Areas where house prices decelerated the most in 2006 experienced the
largest increases in subprime delinquency rates. 

"One of several possible explanations for this relationship," Doms
wrote, "is that, in the face of sharp declines in the pace of
house-price appreciation, some borrowers may have lowered their
expectations about future appreciation rates, and, hence, the
attractiveness of the investment component of homeownership also
declined." 

The subprime residential mortgage market -- lending to people with low
credit scores, little credit history or other impairments -- barely
existed in 1995 but accounted for as much as a fifth of all first lien
mortgages made in 2006. 

The matter is of concern in Hawaii, though subprime borrowing has been
less common in the islands than on the Mainland, because some
economists have been predicting that a spike in mortgage defaults may
be still to come. 

Fed ponders mortgage default explanations
Pacific Business News (Honolulu) - June 12, 2007
Print this Article Email this Article Reprints RSS Feeds Most Viewed
Most Emailed 
Are mortgage defaults on the rise because lenders are lax, or because
borrowers see little economic incentive to keep up the payments? 

The Federal Reserve Bank of San Francisco, which has jurisdiction over
Hawaii and the U.S. West, examined current research on the matter, and
found several possible factors in play. 

 
Mainland discussion of subprime defaults has focused on lax lending --
the implication being that some people were never qualified to be
given mortgages and shouldn't have gotten them. 

But FRBSF Senior Economist Mark Doms, in a report distributed Monday,
said subprime defaults are measurably lower in areas where home prices
are holding strong, and suggests that in these markets borrowers have
a stronger economic incentive to keep up the payments. 

"Delinquencies have occurred during a time of seismic shifts in the
patterns of house-price appreciation, shifts that were unprecedented
in terms of their size and suddenness and that varied widely across
metropolitan areas," Doms wrote. "Markets that recently experienced
greater house-price appreciation tended to have lower delinquency
rates and smaller increases in delinquency rates." 

Areas where house prices decelerated the most in 2006 experienced the
largest increases in subprime delinquency rates. 

"One of several possible explanations for this relationship," Doms
wrote, "is that, in the face of sharp declines in the pace of
house-price appreciation, some borrowers may have lowered their
expectations about future appreciation rates, and, hence, the
attractiveness of the investment component of homeownership also
declined." 

The subprime residential mortgage market -- lending to people with low
credit scores, little credit history or other impairments -- barely
existed in 1995 but accounted for as much as a fifth of all first lien
mortgages made in 2006. 

The matter is of concern in Hawaii, though subprime borrowing has been
less common in the islands than on the Mainland, because some
economists have been predicting that a spike in mortgage defaults may
be still to come. 

http://www.bizjournals.com/pacific/stories/2007/06/11/daily14.html