Bad Economic News Is Good Economic News

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Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



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TOP 10 SIGNS THAT REVEAL MOUNTING PANIC IN THE WORLD BANKING SYSTEM

TOP 10 SIGNS THAT REVEAL MOUNTING PANIC
IN THE WORLD BANKING SYSTEM

BankRun
Dear Depositor:

We don’t want to cause you unnecessary stress or worry, but it might be prudent to pay attention to a series of unusual news reports recently emanating from the banking world.  Viewed independently, each event might be rather insignificant.

However, when examined collectively, these events paint a very dire warning for the safety of bank deposits everywhere.  Naturally, most all of these have received little to no coverage by the mainstream media.  That is to be expected.

The MSM’s job one is to always obfuscate any potentially dangerous news that has a chance of frightening investors or depositors.  After all, the goal of the world banking cartel/equities Ponzi scheme is to keep depositors and investors relaxed and passive in their comfort zones until the complete collapse of their positions is unavoidable.

Here is a timeline of these very disturbing banking events that have occurred since last fall:

1 – October 3, 2013:  US banks fearing default stock up on cash.  The Financial Times reported today that two of the country’s biggest banks are putting into place a “play book” as preparation for a possible banking panic.  A senior banking executive reported that his bank has delivered 20 – 30% more cash than usual in cash panicked customers try to withdraw cash in mass.

2 – October 12, 2013:  Food stamp card malfunction causes riots at Walmart stores in Louisiana.  The technical problem that eliminated spending limits on food stamp debit cards sets off a bizarre shopping frenzy at Walmart stores in Louisiana.

3 – November 2 – 8, 2013:  A reputed computer glitch wipes out ATMs and online banking on a massive scale.  Major shutdowns of online banking occurred in Alabama, Arizona, and California and affected such banks as Wells Fargo, Chase, Bank of America, Compass, Chase Fairwinds Credit Union, American Express, and others.  Tellers reportedly had a hard time with even simple transactions such as check cashing and checking balances.  Rumors circulated on the internet that the banks are using this temporary shutdown as a beta test for a future full bank “holiday” closure.

Get The Rest Of The Story Here

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
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Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



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US stock market-to-GDP ratio favored by Warren Buffett points to imminent 50% crash

Posted on 18 February 2014 with no comments from readers

Whenever the Sage of Omaha is pushed on how he judges whether the US stock market is trading too high or too low he refers to the ratio between the value of US stocks and GDP as a reliable guage of where the market stands.

Analyst Doug Short has a version of the ‘Warren Buffett Indicator’ which uses the value of the Wilshire 5,000, a very broad index. It shows that stocks are more expensive than they were before the 2008 crash and almost as expensive as they were before the dot-com crash in 2000.

50% crash

Warren Buffett is not exactly shouting it from the roof tops but his favorite indicator is pointing to an imminent 50 per cent crash in US stocks. The main indexes are all far too high. You don’t need to be a genius like Warren Buffett to see it.

Just consider the 30 per cent advance in the S&P 500 Index last year and the gain of around one tenth of that in US GDP. The overlay of 1928-9 on the current chart of the Dow Jones is compelling:

Again we appear to be on the precipice of a huge drop in the stock market, with a massive downside. Yet that would only wipe out the gains of the past two years. Given that they appear abnormal in the context of lack lustre US economic growth would this really be so remarkable?

Price spike

Besides we know from long experience of charts in financial markets that the price spike we saw last year is entirely consistent with a market top. The sharp New Year sell-off followed by a brief but unconvincing dead-cat bounce back to the old high is also a classic market topping formation after a long rally.

Where’s the change in economic circumstances since January to justify this turnaround? There is none. Indeed there has been a lot of bad weather that will worsen the data for Q1.

Data today showed manufacturing in New York, northern New Jersey and southern Connecticut slowed this month. The Federal Reserve Bank of New York’s general economic index fell to 4.48 in February from 12.5 in January. Economists in a Bloomberg News survey predicted the index would decline to 8.5.

And who’s the only major investor still sat on a huge pile of cash? Why good old Warren Buffett of course who will be on hand to buy bargains when this crash happens…

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
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Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



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Expert Warns of Hyperinflation: “The American Way Of Life Will Be Destroyed”

Mac Slavo
SHTFPlan.com
February 18, 2014

If there’s one thing that’s certain about what’s happening in the world right now  it’s that uncertainty is pervading every aspect of the global economy. From fabricated employment statistics and consumer spending reports to obscene levels of debt and a failing domestic monetary policy, the writing is on the wall.

Image: U.S. Dollar (Wikimedia Commons).

According to top Casey Research analyst Marin Katusa, who has met with energy ministers and business leaders in over 100 countries, it’s only a matter of time before the world’s reserve currency goes the way of the German Reichsmark and Zimbabwe Dollar.

What we’re talking about here is nothing short of an outright collapse of our banking system, hyperinflation of the US dollar, and a complete destruction of the world as we have come to know it.

This is a must-watch for those trying to understand what’s happening with the economic landscape, how to position yourself for an unprecedented paradigm shift in how Americans live their lives, what to expect as this crisis unfolds, and how to find opportunities when everyone else is in panic mode.

If the petro-dollar ends, the American way of life will be something that will be destroyed.

The inflation will be over 100% because Americans are getting their lifestyle subsidized by the rest of the world.

This is a very complicated issue… but to be summed up quickly, the world has already started trading commodities and oil, not in the petro-dollar.

And if the petro-dollar finally does die, the American way of life is gone.

 

Video Here

(Full interview and transcript via Future Money Trends)

When that happens – when the rest of the world finally turns its back on the United States – you’d better be positioned in the right assets… tangible assets.

Failure to do so will leave you exposed to a financial collapse unlike anything we’ve ever seen in America.

You want to invest in gold… and that’s why you really want to invest in tangible assets… because the bank system will crash.

And I’m not trying to be a doom and gloom guy, this is just factual.

You want to invest in silver, and gold, and companies that produce what the rest of the world wants, which is gold and silver.

It should be clear that China, Russia, oil-producing nations and emerging markets are positioning themselves for exactly what Marin Katusa describes. They have already established unilateral agreements to replace their petro-dollar transactions with either their own currencies or gold. When the timing is right, they’ll pull the plug, at which point all hell will break loose.

The only assets that will survive the destruction will be physical goods such as those commodities essential to survival – food, energy, water, etc.

On the monetary front, when the dollar becomes worthless, confidence in the system itself will be lost on a global scale. We saw similar effects in 2008, when banks refused to lend to businesses, individuals and even themselves for fear of counter party risk. This will leave only one viable mechanism of exchange that will be trusted by trading partners. If you happen to own some, then while everyone else is trying to figure out how to acquire food or pay for other needs, you’ll be thriving.

Insiders and the well informed like Doug Casey, Rick Rule, and Eric Sprott who want to protect and preserve their wealth are already diversifying out dollar-denominated assets. Foreign governments are doing the same, to the tune of billions of dollars being used to buy up assets in the gold production and mining sector (something sovereign wealth funds also did back in late 2008 at the height of the crisis):

The money now is showing up. For example, Rick [Rule] went and got Korean money, and then also Chinese Money. That’s a billion and a half dollars that is coming in to this sector. K.K.R, a major fund, has now put up a billion and a half dollars to set up shop in Calgary for the junior resource sector. You see a lot of funds now, starting to say, “hey, we are getting back in to the junior resource sector because it is so cheap.”

If you go to the BRI website, they talk about all of the big shareholders. You have Tocqueville, Sprott, Sun Valley, KCR…

There’s a reason that well known investment firms run by contrarians like Sprott and Casey are buying gold. Because they know what is coming down the pike.

Yellen is going to continue where Bernanke left off, with the troubles. And the reality is, this is going to make a stronger bull market for gold and silver, and it’s going to be even a better market for the junior resource sector.

If gold and silver are heading to new highs it’s because something has gone terribly wrong in our economy and financial markets.

That being said, if gold is rising and the dollar is collapsing then in all likelihood we’ll see stratospheric price increases in everything from food to fuel, so preparing a contingency plan for this scenario is absolutely critical.

The scenario described here, as noted by Marin Katusa, is not just doom and gloom. It’s fact. The system as we know it is under pressure from all sides. When it implodes you’d better be ready.

 

This article was posted: Tuesday, February 18, 2014 at 6:25 am

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Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
Phone: 720-299-7373
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Helping Short Sale Realtor home owners avoid foreclosure with a short sale.
Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



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Dead Bankers, Economic Collapse & the End of Humanity

 

 

Dave Hodges

February 18, 2014

The Common Sense Show 

In 1993, Tom Cruise starred in the movie, The Firm, in which an unwitting recent law school graduate went to work for a major Memphis law firm which paid its newest junior partners exceptionally well. Unfortunately for Cruise, the Firm was a mafia controlled law firm which specialized on legitimizing laundered money derived from organized criminal activities. When any of the lawyers deviated from the criminal enterprise script, they were murdered. Anyone who posed a threat to the Firm, was murdered. The movie, The Firm, is not just a Hollywood movie, it is being acted out in real life.

The Banking Industry Is a Criminal Enterprise Organization

Doug Hagmann has recently revealed the existence of a massive Wall Street surveillance grid conducted between an interlocked triumvirate of the NYPD, the CIA and the banks themselves. And just like the movie, The Firm, the surveillance grid is designed to eliminate all people who could pose a potential threat to bankster operations. Hagmann also revealed that the Senate has looked at financial “irregularities” of JP Morgan in a heavily censored report released in 2013. The cat is out of the bag. These murders represent damage control to keep the plot of a global financial meltdown being engineered by the banksters. Despite the cover-up, there is still enough evidence to conclude that a financial meltdown is in our near future.

Doug Hagmann, in the same article, also revealed the trail of deaths of important bankers who have been suicided. At least it appears they have been suicided unless you believe the fiction  of the following story that “Richard Talley, 57, was the founder and CEO of American Title, a company he founded in 2001. Talley and his company were under investigation by state insurance regulators at the time of his death. He was found in the garage of his Colorado home by a family member who called authorities. Talley reportedly died from seven or eight “self-inflicted” wounds from a nail gun fired into his torso and head”. Just like the movie, The Firm, any potential whistleblowers are being murdered before they can testify, hence, the reason, behind the recent rash of murders of the bankers. 

It appears that the “smart banksters” got out in the nick of time. In a December 9, 2012 interview on The Common Sense Show, Jim Marrs discussed how approximately 400-500 top level bankers have left the USA in a sudden and dramatic fashion

What ever is coming, is international.Chinese Banks Are Hiding “The Mother of All Debt Bombs” There are also reports which suggest that “Shadow Bankers” have been leaving China for that past year. 

There is a planned economic collapse coming and gold will, once again, become the new standard bearer of wealth.

On June 2, 2014, while appearing on The Common Sense Show, former World Bank attorney revealed that the World Bank refuses to surrender gold which rightfully belongs to Germany.

The coming economic collapse and resulting social chaos has not escaped the attention of the intelligence agencies. In December of 2012, I revealed that many former alphabet soup agency members have gone into hiding with like-minded people of similar backgrounds in previously prepared communities to escape some catastrophic societal event. Is this also why former DHS director, Janet Napolitano resigned to assume a mediocre position 

There is an undeniable pattern here. The world is heading for a global economic collapse which is designed to usher a “Brave New World” with draconian features which will be discussed in a future article. The coming global economic apocalypse is only half of the plot that a small number of banksters have concocted in order to control all wealth in the country. The rest of this report will demonstrate how the rank and file in this are having their every resource cataloged and tracked as a precursor to total confiscation of all wealth.

Read the rest of the story here: http://thecommonsenseshow.com/2014/02/18/dead-bankers-economic-collapse-the-end-of-humanity/

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
Phone: 720-299-7373
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Helping Short Sale Realtor home owners avoid foreclosure with a short sale.
Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



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Soros Bets Big On Market Crash

“Soros Put” Hits Record As Billionaire’s Downside Hedge Rises By 154% in Q4 To $1.3 Billion

Tyler Durden's picture

Submitted by Tyler Durden on 02/17/2014 22:15 -0500

Actually, two curious findings: the first was that the disclosed Assets Under Management as of December 31, 2013 rose to a record $11.8 billion (this excludes netting and margin, and whatever one-time positions Soros may have gotten an SEC exemption to not disclose: for a recent instance of this, see Greenlight Capital’s Micron fiasco, and the subsequent lawsuit of Seeking Alpha which led to the breach of David Einhorn’s holdings confidentiality).

The second one is that the “Soros put”, a legacy hedge position that the 83-year old has been rolling over every quarter since 2010, just rose to a record $1.3 billion or the notional equivalent of some 7.09 million SPY-equivalent shares. Since this was an increase of 154% Q/Q this has some people concerned that the author of ‘reflexivity’ and the founder of “open societies” may be anticipating some major market downside.

Then again, as the chart below shows, as a percentage of total AUM, the put position rose to 11.1% of his notional holdings. By way of reference, as of June 30 2013, his SPY put may have had a smaller notional value, but it represented both more shares (7.8 million), and was far greater as a % of AUM, at 13.5%.

Finally, remember that what was disclosed on Friday is a snapshot of Soros’ holdings as of 45 days ago. What he may or may not have done with his hedge since then is largely unknown, and since there are no investor letters, there is no way of knowing even on a leaked basis how the billionaire has since positioned for the market.

That said, while the SPY puts are most likely simply a hedge to his overall bullish exposure, perhaps more notable was the $25 million call position that Soros put on the gold miners ETF which has been beaten into oblivion over the past year, in the fourth quarter. Does Soros think that it is finally the miners’ turn to shine?

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
Phone: 720-299-7373
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Helping Short Sale Realtor home owners avoid foreclosure with a short sale.
Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



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Top 5 Threats From The Global Economic Reset

Top 5 Threats From The Global Economic Reset

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
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Helping Short Sale Realtor home owners avoid foreclosure with a short sale.
Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



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WARNING! U.S. Hyperinflation to Collapse Economy

If you want to understand what’s coming ahead and why a short sale is a better option than a foreclosure click this link. WARNING! U.S. Hyperinflation to Collapse Economy

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
Phone: 720-299-7373
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Helping Short Sale Realtor home owners avoid foreclosure with a short sale.
Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



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Foreclosures Rise 8% In January

(Source: DS News)  RealtyTrac released its U.S. Foreclosure Market Report for January, 2014. The report noted an 8 percent increase of reported properties from the previous month, citing 124,419 properties in foreclosure filings.

Quick REO Facts

  • This was the largest monthly increase since May 2012!!!
  • January foreclosure starts increased from a year ago in 22 states.
  • States with the highest foreclosure rates in January were Florida, Nevada, Maryland, Illinois, and New Jersey.

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
Phone: 720-299-7373
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Helping Short Sale Realtor home owners avoid foreclosure with a short sale.
Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



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The Crisis Circle Is Complete

The Crisis Circle Is Complete: Wells Fargo Returns To Subprime

Tyler Durden's picture

Submitted by Tyler Durden on 02/14/2014 11:46 -0500

Those of our readers focused on the state of the housing market will undoubtedly remember this chart we compiled using the data from the largest mortgage originator in the US, Wells Fargo. In case there is some confusion, as a result of rising interest rates (meaning the Fed is stuck in its attempts to push rates higher), the inability of the US consumer to purchase houses at artificially investor-inflated levels (meaning housing is now merely a hot potato flip fest between institutional investors A and B), and the end of the fourth dead-cat bounce in housing (meaning, well, self-explanatory), the bank’s primary business line – offering mortgages – is cratering.

So what is a bank with a limited target audience for its primary product to do? Why expand the audience of course. And in a move that is very much overdue considering all the other deranged aspects of the centrally-planned New Normal, in which all the mistakes of the last credit bubble are being repeated one after another, Reuters now reports that the California bank “is tiptoeing back into subprime home loans again.

And so the circle is complete.

For those  who may have forgotten the joys of a subprime lending bubble, here is a reminder from Reuters.

The bank is looking for opportunities to stem its revenue decline as overall mortgage lending volume plunges. It believes it has worked through enough of its crisis-era mortgage problems, particularly with U.S. home loan agencies, to be comfortable extending credit to some borrowers with higher credit risks.

 

The small steps from Wells Fargo could amount to a big change for the mortgage market. After the subprime mortgage bust brought the banking system to the brink of collapse in the financial crisis, banks have shied away from making home loans to anyone but the safest of consumers.

 

Any loosening of credit standards could boost housing demand from borrowers who have been forced to sit out the recovery in home prices in the past couple of years, but could also stoke fears that U.S. lenders will make the same mistakes that had triggered the crisis.

And in a world in which the new Wells Fargo is the old Wells Fargo, surely there will be companies willing to be the new New Century. Sure enough:

So far few other big banks seem poised to follow Wells Fargo’s lead, but some smaller companies outside the banking system, such as Citadel Servicing Corp, are already ramping up their subprime lending. To avoid the taint associated with the word “subprime,” lenders are calling their loans “another chance mortgages” or “alternative mortgage programs.”

Also, remember when lenders swore they were very conservative with who they make loans to, and their strict loan standards? Yup: that particular lie is also back.

Lenders say they are much stricter about the loans than before the crisis, when lending standards were so lax that many borrowers did not have to provide any proof of income. Borrowers must often make high down payments and provide detailed information about income, work histories and bill payments. Wells Fargo in recent weeks started targeting customers that can meet strict criteria, including demonstrating their ability to repay the loan and having a documented and reasonable explanation for why their credit scores are subprime.

Uh, there is a reason those borrowers are subprime. And it is: because they traditionally do not pay back their loans! But this appears to be one of those rocket surgery things that a strapped C-Suite has no choice but to confuse as it scrambles to compensate for structural revenue losses, and is willing to boost short-term revenues by offering anyone “who can fog a mirror” a mortgage. Surely, by the time the bank’s balance sheet implodes, it will be some other CEO’s problem.

It is looking at customers with credit scores as low as 600. Its prior limit was 640, which is often seen as the cutoff point between prime and subprime borrowers. U.S. credit scores range from 300 to 850.

But don’t worry, this time it’s different. Really

Subprime mortgages were at the center of the financial crisis, but many lenders believe that done with proper controls, the risks can be managed and the business can generate big profits.

Naturally, once Wells opens the floodgates, every other bank will promptly follow:

With Wells Fargo looking at loans to borrowers with weaker credit, “we believe the wall has begun to come down,” wrote Paul Miller, a bank analyst at FBR Capital Markets, in a research note.

 

Lenders have an ample incentive to try reaching further down the credit spectrum now. Rising mortgage rates since the middle of last year are expected to reduce total U.S. mortgage lending in 2014 by 36 percent to $1.12 trillion, the Mortgage Bankers Association forecasts, due to a big drop in refinancings.

The only missing pillar of the next subprime crisis is the spin that makes subprime lending seem not only ok, but in fact, necessary.

Some subprime lending can help banks, but it may also help the economy. In September 2012, then Federal Reserve Chairman Ben Bernanke said housing had been the missing piston in the U.S. recovery.

 

A recent report from think tank the Urban Institute and Moody’s Analytics argued that a full recovery in the housing market “will only happen if there is stronger demand from first-time homebuyers. And we will not see the demand needed among this group if access to mortgage credit remains as tight as it is today.”

The straw on the camel’s back: just like last time, when this subprime bubble bursts, it will once again drag down Fannie and Freddie. Because humans apparently have a genetic inability to recall any historical lessons older than five years.

Wells Fargo isn’t just opening up the spigots. The bank is looking to lend to borrowers with weaker credit, but only if those mortgages can be guaranteed by the FHA, Codel said. Because the loans are backed by the government, Wells Fargo can package them into bonds and sell them to investors.

 

The funding of the loans is a key difference between Wells Fargo and other lenders: the big bank is packaging them into bonds and selling them to investors, but many of the smaller, nonbank lenders are making mortgages known as “nonqualified loans” that they are often holding on their books.

And not only the GSE: any and all idiots who buy subprime exposure direct, deserve all they get:

Citadel Servicing Corp, the country’s biggest subprime lender, is trying to change that. It plans to package the loans it has made into bonds and sell them to investors.

 

Citadel has lent money to people with credit scores as low as 490 – though they have to pay interest rates above 10 percent, far above the roughly 4.3 percent that prime borrowers pay now.

No story about subprime would be complete without the human touch, and one person’s story.

As conditions ease, borrowers are taking notice. Gary Goldberg, a 63-year-old automotive detailer, was denied loans to buy a house near Rancho Cucamonga, California. Last summer he was forced to move into a trailer park in Las Vegas.

 

Going from 2,000 square feet to 200 – along with his wife and two German shepherd dogs – was tough. He longed to buy a house. But a post-crash bankruptcy of his detailing business had torched his credit, taking his score from the 800s to the 500s.

 

“There was no way I was going to get a mortgage,” said Goldberg. “No bank would touch me.”

 

But in December, he moved into a 1,000-square-foot one-story home that he paid $205,000 for. His lender, Premiere Mortgage Lending, did not care about his bankruptcy or his subprime credit score. That is because Goldberg had a 30 percent down payment and was willing to pay an 8.9 percent interest rate.

Brilliant – an 8.9% interest rate for a person who can barely make ends meet: what can possibly go wrong. Oh wait, we know: maybe the fact that Wells picked the absolutely worst moment to return subprime – just as the broader housing market is about to take yet another steep plunge for the worse, as the recent foreclosure report from RealtyTrac confirmed, when it reported a dramatic 57% increase in California foreclosure starts from a year ago.

From RealtyTrac:

“The monthly increase in January foreclosure activity was somewhat expected after a holiday lull, but the sharp annual increases in some states shows that many states are not completely out of the woods when it comes to cleaning up the wreckage of the housing bust,” said Daren Blomquist, vice president at RealtyTrac. “The foreclosure rebound pattern is not only showing up in judicial states like New Jersey, where foreclosure activity reached a 40-month high in January, but also some non-judicial states like California, where foreclosure starts jumped 57 percent from a year ago, following 17 consecutive months of annual decreases.”

In short – the party is over, and the banks are once again scrambling to delay the day of reckoning as much as possible.

Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
Phone: 720-299-7373
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Helping Short Sale Realtor home owners avoid foreclosure with a short sale.
Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.



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