Bank of America expects civil charges over mortgage bonds

Bank of America expects civil charges over mortgage bonds

 
The logo of the Bank of America is pictured atop the Bank of America building in downtown Los Angeles November 17, 2011. REUTERS/Fred Prouser

 

The Justice Department intends to file civil charges against Bank of America Corp (BAC.N) linked to a sale of one or two mortgage bonds, the bank said on Thursday in a regulatory filing.

The Securities and Exchange Commission may also file civil charges for one of those bonds, the bank said. Both cases relate to mortgages that were too big to be guaranteed by Fannie Mae or Freddie Mac, but were packaged into “jumbo” mortgage bonds.

The filing did not specify what the cases were about. A Bank of America spokesman did not immediately return a call seeking comment.

The new charges, disclosed in a quarterly filing, underscore the extent of the second-largest U.S. bank’s hangover from the financial crisis. Bank of America has announced a series of settlements with investors and the U.S. government, including an $8.5 billion settlement with investors in mortgage-backed securities and a $1.6 billion deal with bond insurer MBIA Inc (MBI.N).

Staff at the New York Attorney General’s office said they intend to recommend filing an action against the bank’s Merrill Lynch unit from their mortgage bond investigation, the bank said in the filing.

The SEC is also considering civil charges against Merrill Lynch linked to repackaged debt securities known as collateralized debt obligations, the filing said.

Many of Bank of America’s headaches, including the $8.5 billion settlement, arise from its disastrous 2008 acquisition of Countrywide Financial Corp, a mortgage lender it bought at the height of the housing crisis for $2.5 billion. Analysts estimate the bank has lost more than $40 billion from bad loans, litigation and settlements linked to the purchase.

(Reporting by Dan Wilchins in New York; Editing by Peter Rudegeair and Lisa Shumaker)

 

John Marcotte

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Boulder Coupons & Special Offers

Boulder Coupons & Special Offers

We’ve been bargain-hunting in Boulder… just for you! Find great savings at Boulder-area hotels, restaurants and attractions with this list of special offers and coupons. With so many money-saving offers, it’s easy to dive into Boulder — without diving into your wallet.

There are plenty of great savings for you to choose from! Just go to a category and click on the offer title to view the special offer or coupon. You can also click on the company name for more information on the company.

 

SERVICES

Offer

Offer Valid

7/1/2013 – 12/31/2013

eGo Car Share

eGo CarShare

Visiting Boulder and need a car for a few hours or a few days? eGo CarShare offers 24/7 pay-as-you-go access to a fleet of 40+ conveniently located vehicles throughout Boulder and Denver. Use promo code “BCVB25-2013” to get $10 off your application… more

 

 

 

John Marcotte

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Boulder History Museum’s History Mystery Challenge

Boulder History Museum’s History Mystery Challenge

boulder history museum

I knew you’d click if I put “beer” right in the headline. And you should. It’s time to get your beer on for some Boulder-style shenanigans, brought to you by the Boulder History Museum.

On Thursday, August 15, grab your buddies and head down to the 6th Annual History Mystery Challenge:’Downtown Beer’ Edition, sponsored by the Boulder History Museum. Teams can have from two to six people on them and teams will run around Boulder in search of answers. It’s time to bone up on your Boulder historical trivia AND don your best beer-themed costume in the process. And don’t worry about the extent of your Boulder historical knowledge. In true Wheel Of Fortune style, you can buy clues (instead of vowels) throughout the event to move you along from one place to another.

Grab that registration form here. Deadline for entry is August 9th.

The event runs from 5:30-8:30PM on Thursday, August 15.

Oh — and leave your smartphone at home. They’re against the rules. You’re going to have to run this race the old fashioned way. Like without blue dots and Google.

 

 

John Marcotte

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Wonderland HIlls Neighborhood Guide

Wonderland Hills Neighborhood Guide

By  of YOURboulder.com

wonderland lake boulder

You never hear people talking about the Wonderland Hills neighborhood. Perhaps it gets overshadowed by the fancy neighborhood to the south — Newlands — or perhaps the residents of Wonderland Hills just know how to keep a secret. Whatever the reason, this neighborhood offers residents quiet living, large lots and easy access to the Wonderland Lake.

History: Wonderland Hills got it’s start in the early 70′s as a new high-end development. It was designed to be a “luxury” suburb of Boulder that provided proximity to both the foothills and the vibrant downtown scene…mountain living without all that pesky driving.

Housing: The Wonderland Hills area features a mix of condos and single-family homes. Set along peaceful residential streets, this neighborhood feels farther away from town that it really is and as you might expect, there is a price to pay for the calm. Houses range from the $400,000′s to the millions and consist of spacious layouts situated on large lots.

Restaurants & Shopping: Living in Wonderland Hills gets you close to many of the favorite North Boulder institutions, including China Gourmet, Lucky’s Market and Dagabi. And should you want to venture farther, all of Pearl Street awaits a mere 10-minute SKIP bus ride away. With RTD bus stops located up and down Broadway (not to mention, a wide bike lane), you can travel all over Boulder with little hassle.

Into Wonderland Lake

Photo by Zane Selvans on Flickr

Family & Fitness: The crowning jewel of this neighborhood is really Wonderland Lake and the extensive trail system that allows for miles of biking, hiking and general adventuring. Children of all ages will find something to love here. In addition to the many paths, the lake area also has a park with kid’s play structures, benches and a large open lawn perfect for picnicking. If outdoor recreation isn’t your thing, the North Boulder Rec Center is nearby. It offers a weight room, indoor pool and a variety of fitness classes.

Boulder County Schools

 

John Marcotte

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Community Cycles: A Boulder Bike Shop with Heart

Community Cycles: A Boulder Bike Shop with Heart

By  of YOURboulder.com

your boulder community cycles Tucked into a quiet industrial park behind Boulder Beer sits an unassuming little bike shop.

But this little bike shop is unlike the others you find around town. Community Cycles is a non profit bike collective that has been doing good things for the Boulder biking community since 2006.

Not only do they accept donations of old used bikes, but they also use those very bikes to teach the basics of bicycle maintenance. Brilliant, right?

The combination of education, advocacy and community involvement has proved to be a smart one indeed for Community Cycles. They work on a membership and donation system. Once you become a member, you get all the benefits of having your very own bike shop.

In addition to being able to find just the right part, you can use the service bays to fix your bike and rent trailers at no extra charge. And since Community Cycles is located right off the bike path, they often receive “roll-up” donations from riders who have found bicycles abandoned along the path. The bikes that are for sale in the retail area of the shop have all been completely refurbished and perform like new.

With the wide array of workshops, classes and rolling bike clinics, there’s no reason not to jump in and get involved. Learning the fundamentals of fixing your own bike is highly recommended, especially if you’re riding it regularly and don’t want to spend a ton of money on service work.

From the beginner to the more advanced rider, Community Cycles offers education for all levels. On August 3rd, Community Cycles is offering a Saturday workshop introducing women to the basics of bike commuting. And if you’re just interested in meeting other riders, there are social rides and film nights on the schedule.

According to Dax, the sales & service manager at the shop, the only challenge that Community Cycles has encountered recently is that of a rainy nature. “We have strong community support and people know who we are. Even with the slow start to the cycling season, it’s been a pretty successful year so far. Honestly, the weather has been our biggest adversary.”

Community Cycles is always on the lookout for new members and volunteers. They’re also currently hiring for a few part-time bike mechanics. If you ride a bicycle and you care about supporting others doing the same locally, then be sure to take a closer look at Community Cycles.

 

 

 

John Marcotte

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Bring on Boulder Outdoor Cinema!

Bring on Boulder Outdoor Cinema!

boulder outdoor cinema 2013

Ah, summertime in Boulder! We’re a few weeks late to the party this year, but it’s time once again for Boulder Outdoor Cinema!

Every Saturday night from now until August 31, grab your friends and family and head down to the movies. Movies are shown outdoors in the lot behind the Boulder Museum of Contemporary Art (1750 13th Street). Gates open at 7PM and there’s a rockin’ band on stage every evening by 7:30PM. So when’s the movie? Well, movies start “at dusk” (read: when it’s dark enough to show the movie).

Boulder Outdoor Cinema is an event fueled 100% by donations. There’s a suggested $5 donation at the door and they thank you (with GUSTO) for your donations to help pay for licensing fees, venue, and equipment upkeep and the like.

Wanna see what’s showing this year? Here’s the scoop:

July 20–Rocky Horror Picture Show

July 27–Moonrise Kingdom

August 3–Princess Bride

August 10–Wayne’s World

August 17–Tombstone

August 24–Monty Python and The Holy Grail

August 31–Big Lebowski

Let’s just say that I’m sad I have plans on Saturday in Denver and I’m stoked about being completely available on August 24 and 31.

Here are some tips to keep your Boulder Outdoor Cinema experience most bueno for you and your fellow moviegoers:

  • Seating: People bring blankets or low beach chairs. Don’t bring your camp chairs as people sitting behind you won’t be able to see. Don’t be “that guy.”
  • Snacks: You’re welcome to bring snack. In fact, many folks make this a picnic-like event. They also have standard movie fare like popcorn and soft drinks for sale on-site.

 

 

 

John Marcotte

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Will good news in Case Shiller continue?

Will good news in Case Shiller continue?

The S&P/Case Shiller numbers came out on June 25 and it’s no surprise that it shows the real estate marketrecovering nicely around Denver and the nation.

The Case Shiller Index is a leading indicator used to measure the value of residential real estate on a monthly or quarterly basis using a specific methodology of “repeat sales comparables.”

The data shows that home prices across the nation rose by 12 percent from April of last year to April of this year.

In Denver, prices rose by 9.91 percent from last year.

Most experts predicted that the nation would see a 10.6 percent increase, so the actual numbers beat the estimates.

For those of us with boots on the ground, again, this is no surprise.

The question on everyone’s mind is — will this last?

Buyers enjoyed all the leverage in the market from 2008 to March 2011.

It started swinging in favor of sellers in April of 2011 and so for the past 27 months, sellers have had the upper hand.

I think that sellers could be in the driver’s seats for another 18 to 24 months unless interest rates continue to climb.

In case you haven’t noticed over the last 60 to 90 days, interest rates have gone from 3.5 percent to 4.3 percent on a 30-year fixed. For a buyer purchasing a $300,000 dollar home, that monthly mortgage just went up by about $140 per month,

I know that everyone pays a lot of attention to rising home prices, but rising interests rates will cost you more in the long run every time.

If you are a buyer and have been hesitant on when to buy, don’t wait any longer.

Rising interest rates and rising home prices are a double whammy. That $300,000 dollar home will be $325,000 before you know it, and the interest rate may even be 5 percent.

 

By Dan Polimino

Special to InsideRealEstateNews.com

 

 

John Marcotte

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Fun beat-the-heat dates for summer

Fun beat-the-heat dates for summer

beat the heat

 

Want to heat things up with your sweetie without working up such a sweat? Read on for six cool ways to make each other melt without actually making each othermelt.

Beat-the-heat date #1: Enjoy chilled wine and brie indoors
Everyone loves a romantic picnic in the park — except when it’s so hot the cheese turns to fondue. No worries! Have an indoor picnic instead. Spread a blanket on your living room floor, crank up the music and put the wine on ice (try Beringer Vineyards White Zinfandel; the hints of honeysuckle, citrus and strawberry are perfect for summer, www.grandvinonline.com). Since it’s too hot to turn on the stove, order in finger-licking favorites like fried chicken and ribs. No room for frisbee? Half the fun of this plan is getting inventive, so break out the board games, play cards or grab the nearest scrap of paper and face off in Hangman. The only rule: no turning on the TV.

Beat-the-heat date #2: Chill out as you splash around at a water park
Get your new date to let down his or her guard with an all-access pass to childhood. Just slip into your swimsuits and hit the road to the water park (a day pass usually costs about $20). Race each other down the slide, float in the lazy river and tackle the wave pool together. All that fun should work up your appetites, so enjoy classic park cuisine — corn dogs and funnel cake, anyone? Check out a list of water parks in your area. Just don’t forget to pack a towel big enough for two.

Beat-the-heat date #3: Start your outdoor adventure at dawn
Don’t let that heatwave prevent you two from getting active together. Instead, plan a hike or bike ride for early morning (7 a.m., 8, even 9 if neither of you is a morning person). Feel like the only souls on earth while you bike or hike through a gorgeous park, then chow down at a fun breakfast spot. If you can’t tear yourselves apart, keep the date going by chilling out in a freezing cold multiplex.

Beat-the-heat date #4: Have a complimentary cold one while touring a nearby brewery
Cancel the coffee rendezvous and invite your date to a brewery for a beer tasting instead. After you tour the factory, grab a couple stools and sample the frothy specialties. Throw back shots of beer one at a time and try to really taste the flavors. Is that apple cider? No, it’s butter; no, maybe it’s… who knows! But it’s extra yummy when you taste it off a certain someone’s lips. Find a list of breweries at www.beerexpedition.com/northamerica.shtml.

Beat-the-heat date #5: Recreate the arcade days of your youth at Dave and Buster’s
Pac-Man and frozen margaritas? You’d better believe it! Adult arcades offer full service bars, yummy eats like hot wings and mozzarella sticks — and most importantly, air conditioning! Whether you prefer Skee-Ball and Corona with lime or an enclosed ride for two (perfect for a private smooch) and an extra-dirty martini, you’ll find it here. Visit www.daveandbusters.com for locations near you.

Beat-the-heat date #6: Hop in a romantic tub for two
So it’s too darn hot to even run out to the ice cream parlor with your sweetie? Plan an ice cream bath date at your place. (Haven’t been dating that long… or that intimately just yet? There’s nothing wrong with wearing bathing suits.) First, light a fresh peppermint candle (www.shortiescandles.com) and toss a few sprigs of mint leaf into the tub. Next, squirt in a heaping burst of Soulmates Shower Gelee to create a light-scented bubble bath (www.philosophy.com). Then grab a pint of whatever you have in the freezer, two spoons and hop in together. Ahh!

Courtesy of MSN By Christine M. Coppa

 

 

John Marcotte

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A Perfect Day Outdoors

A Perfect Day Outdoors

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Breakfast: Enjoy breathtaking views from Chautauqua Dining Hall, 900 Baseline Road, 303.440.3776. While you’re there:

  • Drive up Flagstaff Mountain for a bird’s-eye view of Boulder.

Mid-Morning: Experience some of Boulder’s recreational activities: (Call 303.442.2911 for rentals and instructors)

  • Hike in the open space next to Chautauqua. Stop at the Ranger Station for trail maps.
  • Bike or rollerblade along Boulder Creek Path, which spans 5.5 miles through the center of town.
  • Visit the kayak course on Boulder Creek. Located just west of Eben G. Fine Park at the west end of Arapahoe Avenue.
  • Attempt fly-fishing in Boulder Creek with a professional guide.
    Kinsley Outfitters, 1155 13th Street, 303.442.6204
    Rocky Mountain Anglers, 629-B S. Broadway, 303.447.2400
  • Enjoy a tubing adventure down Boulder Creek. Tubes can be purchased at Conoco Gas Station, 1201 Arapahoe Avenue, 303.442.6293.
  • Try rock climbing with instructors from Boulder Rock Club. 2829 Mapleton Avenue, 303.938.1411.
  • Rent a canoe or paddleboat at the Boulder Reservoir, 303.441.3456.

Lunch: Pack a delicious picnic lunch at a local health food store:

  • Whole Foods
    2905 Pearl Street
    303.545.6611
  • Whole Foods
    2584 Baseline Road
    303.499.7636
  • Alfalfa’s
    1651 Broadway
    720.420.8400
  • Ideal Market
    1275 Alpine Avenue
    303.443.1354
  • Stop by the Boulder Farmer’s Market,
    located on 13th Street between Canyon & Arapahoe. Saturdays 8am-2pm, April-October and Wednesdays 4-8pm, May-October.

Afternoon: Take pleasure in:

  • A scenic glider ride with Mile High Gliding, 303.527.1122.
  • A magical voyage in a hot air balloon ride with Fair Winds Hot Air Balloon Flights, 303.939.9323.
  • A stroll along Pearl Street Mall, filled with shops, galleries and sidewalk cafés, 303.449.3774.
  • One of Boulder’s 30,000 acres of open space, 303.442.3282.
  • A drive to Boulder Falls a few miles west on Canyon Boulevard.
  • A scenic drive along Peak to Peak highway, 303.442.2911or visit Rocky Mountain National Park, 970.586.1206.

Evening: Dine at one of Boulder’s unique restaurants: (Call 303.442.2911 for a Restaurant Guide)

  • Flagstaff House
    1138 Flagstaff Road
    303.442.4640
  • Red Lion Inn
    38472 Boulder Canyon Dr.
    303.442.9368
  • The Med
    1002 Walnut Street
    303.444.5335
  • Boulder Chophouse & Tavern
    947 Walnut
    303.443.1178

Read the entire article here

 


 

John Marcotte

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Outdoor Recreation in Boulder

Outdoor Recreation in Boulder

Recently rated the “#1 Sports Town in America” by Outside Magazine. Boulder is where some of the world’s top runners, cyclists, mBoulder Mountain Bikingountain bikers, and rock climbers choose to call home. It’s also a close-knit community full of residents who embrace an active outdoor lifestyle and who are committed to natural resource conservation. Combine all of that with 300 days of sunshine per year, and it’s clear why Boulder is one of the hottest outdoor destinations in the country.

The surrounding Rocky Mountain landscape beckons visitors with easy-to-challenging hiking trails and unparalleled scenic views. A single day’s itinerary might include watching the sunrise from a hot air balloon; paddling a kayak through the middle of town; rock climbing the nearby peaks; mountain biking over rugged alpine trails; tubing or fly-fishing in Boulder Creek; or teeing off at Flatirons Golf Course.

Visitors are encouraged to take advantage of Boulder’s 300 miles of serene hiking and biking trails, approximately 45,000 acres of unspoiled open space or the Boulder Creek Path, which runs through the middle of town and parallels Boulder Creek. In winter, you can test your snowshoeing or cross country skiing ability on nearby trails. Or, enjoy downhill skiing and snowboarding at Eldora Mountain Ski Resort, just 30 minutes away fromBoulder Hiking - Flatirons downtown Boulder.

If you want to go rock climbing, Boulder is a great place to be! Boulder, Colorado is blessed with some of the best rock and ice climbing in the country, only minutes from local coffee houses, taverns, and restaurants. Climbers, hikers, alpinists and mountaineers from around the world congregate here. From the distinctive Flatirons above town, to Eldorado Canyon in the south and Boulder Canyon in the west, there is a lifetime’s worth of outstanding climbs here.

About an hour out of Boulder, Rocky Mountain National Park, the South Platte and the Indian Peaks Wilderness add enormously to the choices of climbing and mountaineering available. No matter if you’ve only a few hours to find adventure or an entire day to play, there are plenty of mild-to-wild experiences awaiting you in Boulder, Colorado.

Read more here for Things To Do in Boulder

John Marcotte

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