Surveys: Colorado banks under more stress
DENVER - Two national surveys on bank health have found that many Colorado banks are under more financial stress banks than other states and they may have a thinner cushion to absorb bad bank loans.
The studies show that at the end of 2010, about one in four Colorado banks met the definition of a "troubled" or "problematic" institution.
Gloomy census and FHFA data weighs on housing market
Seperate reports released yesterday by the US Census Bureau and the Federal Housing Finance Agency do not bode well for the local housing market.
According to this FHFA report, housing prices continued on a downward trend, falling 0.3 percent from December to January. For the 12 months ending in January, prices fell 3.9 percent to roughly the same level as May 2004.
Real Estate: Feds move on home mortgage rules
The Federal Deposit Insurance Corporation and the Federal Reserve now want public comment on the plan, which would require lenders to offer mortgages with at least a 20 percent down payment if they want to repackage the loan to sell to other investors without keeping some of the risk on their books.
House Votes to Terminate Government's Mortgage Modification Program
The U.S. House of Representatives passed legislation Tuesday evening to end the administration’s flagship foreclosure prevention initiative, the Home Affordable Modification Program (HAMP).
CoreLogic: Shadow Inventory Declines Slightly
This graph from CoreLogic shows the breakdown of "shadow inventory" by category. For this report, CoreLogic estimates the number of 90+ day delinquencies, foreclosures and REOs not currently listed for sale. Obviously if a house is listed for sale, it is already included in the "visible supply" and cannot be counted as shadow inventory.