Sobering news for those who have assumed the worst of the mortgage crisis is behind us.
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Here is the Congressional Oversight Panel report examining the consequences of mortgage irregularities for financial stability... all 127 pages of it. Enjoy!
Year-over-year, credit cards and car loans are the big winners. Everything else, not so much.
As of June 30, the number of open credit card accounts have fallen 23.2% from the 2008 peak. Consumers continue to shun debt.
The New York Federal Reserve looks at the pros and cons of the so-called lender cooperative utility, which could ultimately replace Fannie Mae and Freddie Mac.
"The planet itself seemed less impressive, in its old-fashioned, deliberate, annual or daily revolution, than this huge wheel, revolving within arm's-length at some vertiginous speed, and barely murmuring."
You remember that post yesterday about how FICO scores now put one-in-four Americans in the subprime loan category? Well, guess who benefits from that?
Earlier this week, the Federal Housing Finance Agency, which