from BC - I have a complaint - The NYT accepted ad revenue and ran these ads.  Now they imply the ads were bad.  Isn’t that a bit hypocritical as they accepted advertising revenue, and now criticize?  -  thanks to 3 readers for pointing this article out.  - The Debt Trap Home Equity Frenzy Was a Bank Ad Come True -  LOUISE STORY - An ad in 2002 from Fleet, now a part of Bank of America, asked, “Is your mortgage squeezing your wallet? Squeeze back.” Another Fleet ad said: “The smartest … New York Times  

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Subprime Litigation: Something Old, Something New? - Kevin LaCroix - … But amidst the repetition, there has also been some innovation, or at least variation, as a result of which the subprime litigation wave has continued to evolve. Two recently filed subprime and credit crisis- related lawsuits demonstrate both of these elements. … - D&O Diary

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Detroit Houses = $1 - Barry Ritholz - … Today? - There are 182 Properties for sales for less than $1,000 on Realtor.com/search — and the asking price on some of those houses is one dollar   … - The Big Picture

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long article, lots of charts, well written - The Great Consumer Crash of 2009 -   James Quinn - seeking alpha

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Prudent Bear? Prudent Sale!  - Regardless of what he says, David Tice seems to be getting out while the getting is good. Shades of the Sandlers’ exit.  - Thomas Brown  - bankstocks.com 

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Banks’ Balance Sheets Are Squeezed from Both Sides - RANDALL W. FORSYTH - Uncle Sam increasingly is called upon to provide funds, either via the Fed or the FDIC’s backstop.  - THE SQUEEZE ON BANKS’ BALANCE SHEETS has been most apparent in the asset side as they write down the value of their loans or investments   … Less visible have been the strains on their liabilities as banks lean increasingly on the Federal Reserve for funding. Some banks even have gone so far to offer individual depositors above-market interest rates to lure their money — using the backstop of the Federal Deposit Insurance Corp.   - Barrons 
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August 2008 - PMI’s Housing and Mortgage Market Review - thanks Nate Purpura - PMI Group 

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pix  Boost for Fannie Mae and Freddie Mac - SIFMA has given the go-ahead for mortgage companies Fannie Mae and Freddie Mac to include larger loans in up to one-tenth of their bonds that trade in the mortgage-backed securities (MBS) market. - CITY A.M.
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REOs comprise nearly 20% of homes on market - RealtyTrac says foreclosure inventory now tops 750,000  -  Inman News 
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How “second mortgages” became HELOCs - The New York Times, in the latest installment of its “Debt Trap” series, chronicles the marketing effort by banks that turned dicey “second mortgages” into … - Los Angeles Times

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Who Owns Your Loan? - Amy Barrett - Entrepreneurs are negotiating with tough new creditors as banks look to ditch troubled loans - BusinessWeek  

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Barron’s predicts Fannie and Freddie shareholder wipe out - BloggingStocks 

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‘WSJ’: Economists See Good Chance of GSE Bailout - U.S. News & World Report

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Subprime Loan Buyer Gets Dubai-led Investment - Paul Jackson - In the increasingly crowded field of investors looking to buy sub and non-performing mortgage notes, one small shop has added foreign dollars to the mix: White Plains, New York-based Diversified Mortgage Workout Corporation said Friday it had received investment commitments of $20 million from a private investment group based in Dubai. The company said in a press statement that it would look to purchase - housingwire

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IRA ARTMAN SECTION - thanks Ira:

1  Major find:  Papers at Westwood Capital

Putting a Floor Under American Homes
10 Things to Understand About the Housing Bubble and the Debt Crisis
Reading the Entrails
The Re-Regulation of the Financial Services Sector
The Housing and Debt Crises: Intractable Problems and How they can be Resolved

2.  also … The Housing and Debt Crises: Intractable Problems and How they can be Resolved - Daniel Alpert - RGE Monitor