Archive for August, 2007
BB&T to Acquire Collateral Real Estate Capital LLC
BB&T is in the process of buying Collateral Real Estate Capital LLC out of Birmingham, Alabama. Collateral is a 10 billion dollar loan servicing company that has a portfolio in 43 states.
I have been wondering when the roll up will start and now it looks like the time. The first step was destroying the [...]
Leona Helmsley and the Million Dollar Crypt
With the passing of Leona Helmsley this week, a true character in the world of real estate leaves the scene. While Donald Trump captures the paparazzi headlines these days, Leona captured them in the eighties. The former real estate agent who married mogul Harry Helmsley was a pure character. She is famously know still as the [...]
23Aug2007 | Tom Royce | 0 comments | Continued
35,000 Mortgage Fraud Reports to the FBI in 2006
With the rise in foreclosures, the FBI is taking a more aggressive stand against mortgage fraud. The bureau has seen a tripling of cases since 2003, form 436 to over 1,200 in 2006, and the FBI is throwing more and more resources at the problem. But the reality is that these fraud cases are coming [...]
23Aug2007 | Tom Royce | 1 comment | Continued
Accredited Home Lenders Shutting Down Retail Operations
It looks like Accredited Home Lenders could not survive and will stop funding loans moving forward in an attempt to save the remnants of their wholesales business. Just last week they were trying to force Lone Star Fund to complete the purchase of the company, now they are running into the wall so many lending [...]
22Aug2007 | Tom Royce | 0 comments | Continued
Judge Releases Funds From HomeBanc To Lawyers Left Holding the Bag
A Delaware Bankruptcy judge has approved a deal that would let HomeBanc to fund the loans that they promised to, and left Georgian attorneys scrambling to fund in in the interim. As we covered before, a quirk in Georgia law created the scenario that attorneys in Georgia were forced to cover loans at the table [...]
22Aug2007 | Tom Royce | 0 comments | Continued
Top 10 Cities For Foreclosure in July, 2007
Six California cities were in the top 10 nationwide in foreclosure activity in the newest survey released by Realtytrac. Detroit led the way in the survey with a 70 percent increase in foreclosures, or 1 in every 97 households. That is a truly amazing number if you think about it.
Top 10 Cities For Foreclosure in [...]
Mike Ready, Real Estate Agent, Tells an Interesting Story of Perseverance
LeRoy, Illinois real estate agent was much more pleased with his most recent closing than most agents. It was his first in 2 years, but his business was not affected by the slowdown in the market, instead after suffering through a catastrophic accident that left Mike Ready in a wheelchair. Ready has returned to selling real [...]
21Aug2007 | Tom Royce | 1 comment | Continued
Lowes Showing Better Than Expected Results
Many who are watching the housing slump are keeping an eye on Lowes and Home Depot. The two home repair giants are great indicators on how consumers are spending on home repairs and upgrades. Lowes surprised analysts showing improved earnings for the second quarter up to 67 cents a share from 60 cents the previous [...]
21Aug2007 | Tom Royce | 0 comments | Continued
Countrywide Update: Layoffs Occurring, Is Buffett Buying?
Since Countrywide Financial seems to be the bellweather of the housing market the past few days, lets take a look at what is happenning with the company.
Reuters has that Countrywide is cutting 500 jobs nationwide. With the lower production in loans, there will be more of this to come I fear. Presently Countrywide has [...]
21Aug2007 | Tom Royce | 1 comment | Continued
GreenPoint Mortgage Closed By Capital One
What’s in Your Wallet? Not GreenPoint Mortgage now that Capital One jettisons the ailing mortgage company. Today GreenPoint is worth nothing, but when Capital One purchased the company a year ago for 13.2 Billion dollars the company was a high flyer.
GreenPoint is the newest casualty of the credit crunch as their business was built [...]
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
I see the question I have, but no response. I do not have a for sale sign up ...
I'll add mine to the list too. This is happening in Kansas City, Missouri as well now.
We already knew ...
