To Our Clients, Colleagues and Friends,

· At mid-year 2009, the three top banks held 53% of all deposits in California .  Here are the top six, which collectively hold 65% of all deposits in the state.

1.    24.5%  BofA

2.    19.2%  Wells Fargo

3.    9.6%  JPMorgan Chase

4.    5.5%  Citigroup

5.    3.5%  Mitsubishi UJF

6.    3.4%  U.S. Bancorp

A year ago, Wamu [...]

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One top ex-secondary guy wrote to me and said, “Things I sort of miss hearing in mortgage banking: “What are rates gonna do tomorrow?” “Why is IndyMac a point better than we are?” Anything associated with “Did you hear what they said on CNBC this morning…….?” “How come I’m losing money on the hedge?” And [...]

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   Canadian Dollars – The US in Real Terms – … In Canadian-dollar terms, US GDP is the lowest it has been since the first quarter of 1998. While significant inflation has yet to show  up in US CPI numbers, it is apparent that the US ‘growth’ of the [...]

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When I talk to realtors in many parts of the nation, they admit that foreclosures and short sales continue to be a key part of the housing activity in their area. Many analysts feel that the pace of short sales is likely to increase, especially given market conditions and the opinion that short sales are [...]

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