As you can see, economic housing activity is horrible, and getting worse. If you are a bank with a mortgage book or trying to lend, you're in the wrong business. If you can simply service the loans without credit risk AND grab a 1/4 of the foreclosure delinquency action proceeds as the vig, your doing better than most drug dealers. Look at how the foreclosure business is panning out... [this line has been modified to reflect the servicer entitlement to delinquency judgments vs foreclosure proceeds]
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Subscribers have access to all of the data and analysis used to create these charts, in addition to a more granular application, by state in the SCAP template and by region in housing price and charge off templates – see
- Shadow Inventory worksheet for professional and institutional subscribers -
Shadow Inventory.
House price data, 2nd Quarter 2010
Bank Charge-offs and Recoveries 2Q10
- The very extensive SCAP Assumptions, showing the credit metrics banks needed to submit for the stress tests of 2009, Updated for last quarter on a state by state basis_09082010 Web
See the following posts for an extensive background on the topics discussed in the video:
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- Is the US Government About to Forgive Mortgage Debt? Let’s Crowdsource Our Way Through a Scenario or Two!
- Why the Case Shiller Index, Although Showing Another Downturn Coming, is Overly Optimistic and Quite Misleading!
- Yes, Housing Prices Have Much Farther to Fall. We’re Talking Years…
- Because 105% LTV On Depreciating Property Wasn’t Good Enough for the US Taxpayer…
- I Told You Housing Was Going to Take a Downturn for the Worse. I’ll Tell You Something Else, We Are in a Housing Depression! It’ll Get Worse Until Market Forces Rule Over Government Bubble Blowing!
- As I Made Very Clear In March, US Housing Has a Way to Fall
- It’s Official: The US Housing Downturn Has Resumed in Earnest
- The Great Global Macro Experiment, BoomBust Cycles, and the Refusal to See the Truth: Bubble Economics in the Mainstream Media