Banks could lose up to $120 billion from mortgage buy-backs … and more

October 19, 2010 05:00PM

1. Firms wants BofA to pay back $47 billion on shoddy mortgages [NYO] 

2. DOB to meet with architect of Brooklyn mosque at 2812 Voorhies Avenue to submit new plans [Sheepshead Bites]
3. Banks could lose up to $120 billion from mortgage buy-backs: JPMorgan [American Banking News] 

4. Billionaire Leonard Stern buys penthouse at 459 West Broadway for $14.25 million [Curbed]
5. Underwater homeowners are weighing strategic default carefully [Inman] 

6. Lawsuit dismissed for East Harlem Alliance of Responsible Merchants over property on 125th Street [Harlem + Bespoke] 

7. How can banks make money when nobody wants to borrow? [Business Insider via Patrick.net] 

8. Bill and Hillary Clinton think about moving from Chappaqua [Post] 

9. Former church building at 271-273 Manhattan Avenue back on the market for $2.2 million [Harlem + Bespoke] 

10. Morgan Stanley rumored to take over 1 million square feet at 85 Broad Street, vacated by Goldman Sachs [Post, 1st item] 

11. After years of talk, new Penn Station still a long way off: editorial [NYDN] 

12. $20 million renovation of Eldridge Street Synagogue complete [Bloomberg] 

13. Housing will fall another 20 percent, but homeowners will be bailed out: Shiller [Forbes] 

14. Experts talk about buying in a land-leased building [Brick Underground] 

15. Isabella condo in Clinton Hill launches sales [Brownstoner] 

16. 3B Bed and Breakfast to open Nov. 15 in Downtown Brooklyn [NYT]
17. GMAC Mortgage ends foreclosure moratorium in 23 states [NYO] 

18. Bia restaurant is closing, with plans to reopen as Chinito [Village Voice] 

19. Brooklyn’s baseball wall, on Third Avenue between 1st and 2nd streets, is coming down [Gothamist] 

20. What’s behind the Mortgage Electronic Registration System and why investors are getting nervous [NYT]