Mortgage Applications Are Going Nowhere — Here’s Why That Tells Us Nothing About The Health Of Housing

. . .     Mortgage Applications Are Going Nowhere   Piggybankblog posted on 08/19/14 Cross linked with businessinsider   The widely-followed MBA weekly mortgage application index used to be considered a leading indicator for home sales.   But in recent years mortgage applications have been flat while home sales have risen, according to Hui […]

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The Highest-Paid Exec At Bank Of America Just Got A Bit More Powerful

. . .     The Highest-Paid Exec At Bank Of America Just Got A Bit More Powerful   Piggybankblog posted on 08/19/14 Cross linked with businessinsider Tom Montag will become sole COO of Bank of America when his former co-COO, David Darnell, moves to Tampa to be with his family, DealBook reports. Montag left […]

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Bank Of America – Nearing Inflection Point

. . .     Bank Of America – Nearing Inflection Point   Piggybankblog posted on 08/19/14 Cross linked with seekingalpha.com   Summary The news has been good for Bank of America lately, as it announced its first dividend increase in seven years and plans to settle with the Justice Department. These are signs that […]

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The Bulgarian Banking Disaster

. . .   The Bulgarian Banking Disaster   Piggybankblog posted on 08/19/14 Cross linked with forbes.com   Two months after it was taken into conservatorship by the Bulgarian National Bank (BNB) after a catastrophic bank run, Bulgaria’s CorpBank is still closed. Well, nearly closed. It is now open for loan repayments. Depositors can’t get their […]

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Inside The Dark, Labyrinthine, and Extremely Lucrative World of Consumer Debt Collection

. . .   Inside The Dark, Labyrinthine, and Extremely Lucrative World of Consumer Debt Collection   Piggybankblog posted on 08/18/14 Cross linked with nytimes.com   (Written by Jake Halpern) — One afternoon in October 2009, a former banking executive named Aaron Siegel waited impatiently in the master bedroom of a house in Buffalo that […]

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Beware the shortcomings of data on home prices and mortgage rates

. . .   Beware the shortcomings of data on home prices and mortgage rates     Piggybankblog posted on 08/18/14 Cross linked with latimes.com It has been said that figures lie and liars figure. But even when the numbers are truthful, they often are nearly meaningless. Take average home prices. They are widely reported […]

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Bank Overseer PwC Faces Penalty and Sidelining of Regulatory Consulting Unit

. . .   Bank Overseer PwC Faces Penalty . Piggybankblog posted on 08/18/14 Cross linked with nytimes   The giant consulting firm PricewaterhouseCoopers occupies a position of trust on Wall Street, acting as a shadow regulator of sorts that promises the government an impartial look inside the world’s biggest banks. But the firm — […]

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US banks plan ahead for UK exit from EU

. . .     US banks plan ahead for UK exit from EU   Piggybankblog posted on 08/18/14 Cross linked with ft.com   Wall Street banks are drawing up preliminary plans to move some London-based activities to Ireland to address concerns that the UK is drifting apart from the EU. People familiar with Bank […]

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Stated income loans make comeback as mortgage lenders seek clients

. . . . Stated income loans make comeback   Piggybankblog posted on 08/18/14 Cross linked with reuters.com   (Reuters) – Mortgage applicants who can’t provide tax returns or pay stubs to show their income are getting stated income loans again as companies such as Unity West Lending and Westport Mortgage chase customers they can […]

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Mortgage Loan Companies Bring Back Subprime

. . . .   Mortgage Loan Companies Bring Back Subprime     Piggybankblog posted on 08/18/14 Cross linked with guardianlv.com   Mortgage loan companies recently started originating subprime loans again, which could be a sign that the economy has not fully recovered. During the financial crisis of the 21st century, millions lost their homes […]

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