Residential real estate prices in New York City are far above levels needed to bring supply and demand into balance. The basis for the gloomy forecast in GEI Investing is that mortgage delinquency rates have skyrocketed while foreclosure auctions have declined. From early 2008 to early 2010 mortgage delinquencies in Queens increased by more than 180%. From late 2008 to late 2010 the foreclosure auctions in Queens declined by more 50%. These numbers indicate a huge flood of foreclosures has been held back by lender inaction. more »

William K. Black, a professor at the University of Missouri, Kansas City, who is an expert in white collar crime and, in particular, financial crime, has issued a condemnation of the FCIC (Financial Crisis Inquiry Commission). more »

Bank of America Corp agreed to pay Fannie Mae and Freddie Mac $2.8 billion to settle claims that it sold the mortgage finance companies bad home loans. more »

Two years ago, the federal government assumed control of the ailing Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac), two institutions that facilitate the flow of funding for home loans nation… more »