VIDEO: Peter Schiff 2006 Mortgage Bankers Speech    -  Early Doom and Gloom - Later Proven Accurate .. Nov 2006 - Peter says - It is interesting to note that the Mortgage Broker Conference has not invited me back since. Perhaps, my views could be tolerated when they could be dismissed as wild speculation, but not so much now that they would play as an “I told you so.” On the other hand, it’s possible that given the state of the market, mortgage brokers no longer stage lavish conventions in Las Vegas.  - Europac.net

————

Two Fed myths that need debunking - Bernanke & Co. do not set interest rates, and they’re not about to run out of money for bailouts. - Allan Sloan - thanks Patty Gong - Fortune CNN

————
California mortgage defaults up 125% - DataQuick: Activity may be ‘nearing a plateau’ - … Most of the loans that went into default last quarter were originated between September 2005 and November 2006. The median age was 26 months, up from 16 months a year earlier. … - Inman News

————

John Paulson starting fund to invest in financials hit by mortgage writedowns - … Paulson aims to open the fund by December, according to two people with knowledge of the matter. His New York-based Paulson & Co. hasn’t set a fund-raising target, said the people, who declined to be identified because the plans aren’t complete. … - thanks Carolyn Coppedge - The Deal

————

House Expected To Sign Housing Bill This Week, Reverse Mortgages Could Get Higher Loan Limits & More - <a href="http://reversemortgagedaily.com/2008/07/22/house-expected-to-sign-housing-bill-this-week-reverse-mortgage