Chart posted with this NYT story shows Seattle #1 in past-due construction loans. Yikes! http://digg.com/u1C7Ut # Via Fortune: WaMu: The forgotten bank failure – http://digg.com/u1CCmO I don't think people in Seattle have forgotten it yet… # RT @jillayne: FHA default rates. One bank is as high as 48%. Seattle? http://bit.ly/1aW1jN # Former WaMu HQ to…
Category: News
News, current events, etc.
Seattle is #1… In Delinquent Construction Loans
I posted about this earlier this week on the official Seattle Bubble Twitter account, but I thought it would be worth a post of its own. Via The New York Times: Construction Loans Falter, a Bad Omen for Banks Even as the economy may be starting to recover, banks across the country are confronting a…
August Reporting Roundup: Recovery Party Time!
Thanks to PAX and the holiday weekend, our regular schedule is all messed up. So here’s the reporting roundup a couple days late. First up, an excerpt from the NWMLS press release: Northwest MLS brokers report brisk activity, multiple offers, "irrational delays" by lenders Pending sales around Western Washington during August jumped nearly 21 percent…
Fiduciary Standards in Lending and on Wall Street: Can it Work?
Question for discussion: In Washington State, can Loan Officers operate within the framework of a Fiduciary duty to their clients when the lending industry is structured with incentives that may be in conflict with the new standard? Jane Kim of the Wall Street Journal wrote an excellent article in this past weekend’s issue regarding Wall…
Tacoma Condo Project Foreclosure Auction Reveals Grim Reality
How bad is the condo market in Tacoma? Pretty bad. Recall this article from June: Tacoma Luxury Condo Project Headed for Foreclosure The Esplanade, a nine-story condominium on the west side of the near-downtown Thea Foss Waterway, has until Aug. 21 to escape from the imminent foreclosure, said sources close to the project who were…