Author Archives: ShortSense

Obama Calls for Loan Servicers to Beat the Dead Horse Harder

Posted on July 10, 2009 by ShortSense

According to a report this morning by Ruth Simon at the WSJ, The Obama administration is urging loan servicers to up the ante on their loan modification efforts.  Treasury Secretary Geithner and HUD Secretary Donovan sent a letter out to … Continue reading →

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Are Banks Being Realistically Valued?

Posted on July 9, 2009 by ShortSense

Cyrus Sanati wrote an article in The New York Times Deal Book this morning that some on Wall Street that are suggesting that TARP is masking some serious financial problems within some of the country’s largest banks.  Daniel Alpert of … Continue reading →

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Los Angeles Leads the Nation in Mortgage Fraud

Posted on July 8, 2009 by ShortSense

Peter Hong of LA Land recently posted on an FBI report that Los Angeles leads the nation in mortgage fraud – and not by a small margin either: The Los Angeles field office received 9,971 “suspicious activity reports” in 2008; second-place … Continue reading →

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Get Ready for Late Summer Deals on Short Sale Homes

Posted on July 7, 2009 by ShortSense

A recent article by Don Lee in the LA Times titled Another wave of foreclosures is poised to strike highlights the wave of foreclosures that is likely to start breaking onshore by late summer.  He cites that the most of … Continue reading →

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Will Future Loan Mod Defaults Increase Short Sale Supply?

Posted on June 5, 2009 by ShortSense

A new study by Fitch Ratings predicts that 55-65% of home loans getting modified will end up at least 60 days behind within a year. The percentage is even higher for those in subprimes with 60-day delinquencies predicted at 65-75%, reports … Continue reading →

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A New Wave of Short Sales Coming

Posted on May 21, 2009 by ShortSense

There have been a lot of articles written lately about the coming wave of option ARM resets that are set to occur mostly between 2010-2012 (investment bank Credit Suisse has a detailed research report available for clients). The Option ARMs … Continue reading →

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Holding Back the Short Sale Tide

Posted on May 11, 2009 by ShortSense

  VisionVictory/YouTube.com You’d think, with the way so many people blow their horns over layoff’s here and bailout’s there, that this came as a big surprise. Well, when have the car companies in Detroit NOT needed a bailout from their crappy retro designs … Continue reading →

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