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This morning, we discussed Strategic Mortgage Default. This afternoon, let’s look at Strategic Non-Foreclosure.Data via LPS‘ Monthly Mortgage Monitor shows a growing disparity between delinquencies and foreclosure starts. In other words, as more people fall behind on their mortgages, banks are becoming increasingly leery of putting them into foreclosure. LPS calls this “Shadow Foreclosure Inventory” – The number of loans deteriorating further into delinquent status is more than twice the volume

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Before we launch in today’s instalment of the Daily Reckoning, let us quickly correct an error. Sunday is the free Gold Investment Day for the Gold Standard Institute’s conference this weekend in Canberra. You can see the program for it here . That’s the day your editor will be speaking about “Five monetary events to watch for in the next five years.” If you want to attend the presentations and discussions over the next four days, you can still do so. But you should contact conference organis

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Random Feed wrote an interesting post today on
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The latest bubble is about to burst, but this time it’s in the commercial market. Here’s how to see it coming. By Katie Benner Fortune.com NEW YORK (Fortune) — When the FDIC closed Chicago’s Corus Bank last month, it may have signaled the beginning of the next shock to the banking system: commercial real estate defaults. Corus, whose balance sheet was larded with bad construction loans, is just one of many banks that have a slew of this debt on their books. Refinancing the $2 trillio

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In Orange County, banks can make loans up to nearly $730,000 and sell them to government-controlled mortgage giants Fannie Mae and Freddie Mac or get the loans insured by the Federal Housing Administration. In less costly areas the limit is $625,500. But the bigger limits expire on Dec. 31. The Fannie/Freddie limit used to be $417,000 and the FHA limit was lower than that. The Mortgage Bankers Association, the National Association of Home Builders and the National Association of Realtors sen

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Random Feed wrote an interesting post today on
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By Bob Blandeburgo Associate Editor Money Morning As the number of bank failures grows, the Federal Deposit Insurance Corp. (FDIC) is falling deeper into the red, but deposits at insured banks keep growing. Six banks failed on Friday, bringing the total number of banks failed this year to 106. That’s more than four times the amount of bank failures in 2008, and it’s only October. Still, the number is dwarfed by the 534 failures seen in 1989 at the height of the savings-and-loan crisis.

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