Recent Posts At Straight Talk

• Bank Failure #29 & #30: Florida and Louisiana March 13, 2010
  From the FDIC: Centennial Bank, Conway, Arkansas, Assumes All of the Deposits of Old Southern Bank, Orlando, Florida Old Southern Bank, Orlando, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. … As of December 31, 2009, Old Southern Bank had approximately $ […]
  Kenny
• Bank Failure #28: Park Avenue Bank, New York, New York March 13, 2010
  From the FDIC: Valley National Bank, Wayne, New Jersey, Assumes All of the Deposits of the Park Avenue Bank, New York, New YorkThe Park Avenue Bank, New York, New York, was closed today by the New York State Banking Department, which appointed the Federal Deposit Insurance Corporation FDIC as receiver. ..As of December 31, 2009, [...] […]
  Kenny
• Mortgage Rates Today….. March 12, 2010
  Well, we told you earlier that the retail sales report would probably push rates up.    Now that I’ve got today’s rates, here’s an overview of the changes from yesterday: 30 year Fixed under $417,000 – no change from yesterday. 15 year fixed under $417,000 – a minor increase. 30 year fixed over $417,000 – a minor increase 15 year [...] […]
  Sean Vault
• Bank Failure #27: LibertyPointe Bank, New York – and it wasn’t even Friday! March 12, 2010
  From the FDIC: Valley National Bank, Wayne, New Jersey, Assumes All of the Deposits of LibertyPointe Bank, New York, New York LibertyPointe Bank, New York, New York, was closed today by the New York State Banking Department, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver…. As of December 31, 2009, LibertyPointe Bank had approxim […]
  Kenny
• Retail Sales Look Strong – puts pressure on mortgage rates? March 12, 2010
  Sales at U.S. retailers rose unexpectedly in February despite a drop in vehicle purchases and inclement weather that was expected to curtail shopping, according to a government report on Friday that bolstered hopes of a sustainable economic recovery. The Commerce Department said total retail sales rose 0.3 percent as consumers bought an array of goods from [ […]
  Kenny
• Elizabeth Warren for Treasury Secretary? March 12, 2010
  Elizabeth Warren on Consumer Protection (MMBM) from Roosevelt Institute on Vimeo. Are you sick and tired of the lack of straight talk in the mortgage world?We are.   That's why we write here - even though we have to do it under a pen name - because our lending institutions don't like it......If you want to [...] […]
  Sean Vault
• Why the U.S. can’t inflate its way out of debt – Mar. 11, 2010 March 11, 2010
  Okay, I’ve got to say, I shouldn’t be surprised that this is just now becoming “news” but I am.    It’s just now dawning on people that we can’t inflate our way out of debt? Did we really think that the money wouldn’t have to be paid back some time? If our government engages in policies that will [...] […]
  Kenny
• Foreclosures Down 2% in February: Don’t Pay Attention to the Headlines…. March 11, 2010
  Don’t pay attention to the headlines – foreclosures down 2%.   Instead, look at the rest of the story: Foreclosures are up from last year. Foreclosures aren’t up as much as in the past, but they have been up on a year over year basis for 50 months in a row. Look at the quote that the CEO of [...] […]
  Kenny
• Please tell me my numbers are wrong…. March 10, 2010
  Okay, here are some scary numbers…… Fannie and Freddie own 131,000 properties between them (as of the end of 2009) They sold 200,000 units in 2009 that they “inherited” from people who defaulted. But they own more now than they did at the end of 2009 (the situation is getting worse rather than better) This doesn’t count the homes [...] […]
  Kenny
• Another Example of why Fannie and Freddie don’t like condos…… March 10, 2010
  Here are two more examples of why Fannie and Freddie are not very excited about condos: Example #1 we have a 216 unit condo complex with only 1 occupied unit.    That means that for an association who’s budget is $86,400 per month ($400 x 216 units – strictly an example), they are taking in $400 per [...] […]
  Kenny