Professional Documents
Culture Documents
FHA loan delinquency rate falls to lowest rate since Aug ‐ About 4.8 percent of FHA‐backed loans made
in the two years ended Feb. 28 were at least three months late, down from 5 percent in the two‐year
period ended Jan. 31 – Washington Post
60 day plus Delinquency Rate on all mortgages (Prime, Subprime, Alt‐A, etc.)
Mortgage market – plan to reshape the mortgage market taking form – Geithner to outline broad
principles for Fannie and Freddie during testimony today; neither company will be allowed to return to
pre‐crisis structure. Republicans are renewing their call to have both companies privatized. WSJ
Governments around the world are on a “charm offensive” w/the largest SWFs (sovereign wealth funds)
to help insure there is a ready market for all the debt being dumped on the market this year. FT
European leaders continue to posture re Greece with 1) ECB’s Trichet suggesting that Greece could
receive loans from its euro‐zone partners under certain conditions (in WSJ), 2) Greek Finance Minister
Papaconstantinou saying he wants a “European” solution to Greece’s debt crisis (seemingly backing
away from signals it may seek out IMF assistance), 3) Germany's foreign minister rejecting a charge by
Greece's deputy prime minister that Berlin is reluctant to help Athens because its exporters and banks
are profiting from a debt crisis that has hit the euro (Reuters) at the same time that 4) the ECB signals
some concession on Greek debt (namely that it may continue accepting it as collateral in its liquidity ops,
even if it gets downgraded further – FT); 5) European Union President Herman Van Rompuy is seeking to
strike an agreement on an aid mechanism for Greece before the start of an EU summit this week
(Bloomberg) – and all this while the Greek Prime Minister, Papandreou, says Greece doesn’t need
Financial help.