For some reason, it does not surprise me that Fannie and Freddie are once again in the news. Reports say that the two mortgages giants may show less than stellar results for second quarter, writing down once again. The two have already warned investors that credit-related losses, such as payouts on loans they guarantee, would […]
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I read with interest of a California based company that is investing funds in to 200 Massachusetts homeowners’ subprime mortgages. The company, WMD Capital Markets LLC, deserves kudos for taking on these 200 loans, and for slashing interest rates and forgiving thousands of dollars in late charges, legal fees and past-due interest. The […]
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The Senate took a weekend session to fruition this week and passed the new housing bill, which Bush has agreed to sign. Although I see this as a sign that at least the government is recognizing the pickle homeowners are in, I have to ask myself who benefits the most from this legislation. Supposedly, the […]
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NBC Nightly News reported tonight that the new housing legislation will go to the President’s desk for signature on Monday, possibly Tuesday latest. Bush has agreed to sign. All it took to get this through was an all time low in consumer confidence, the worst housing market we have seen in decades, and a lot […]
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I find it odd that with the economy the way it is, with Freddie and Fannie teetering, and the prices of homes dropping lower all that time, that interest rates are steadily increasing. I would like to think that interest rates would drop, but that is not the case. This certainly would […]
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The mortgage industry has really suffered from “creative financing” but I ran across a system in place today I felt worth mentioning. We now see two initiatives for people who have lost their homes, but are being allowed to stay in them to try to regain solvency and get back on track.
One of these two, […]
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In a previous post I discussed the steps the Fed is taking to stop shoddy and unethical mortgage practices. I saw it as a good thing. I am troubled by the fact that the Fed isn’t rolling it out until October 2009, and, because it was of interest, decided to dig further into the concept. […]
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If you take a really good look at the way things are right now concerning banks, mortgages and bailouts, you see a whole lot of trouble on the horizon. Freddie and Fannie are in the soup, and it would be no surprise to me that the government will step in to pull their collective butts […]
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It is no secret that the Fed is working to curb shady housing practices. It has been talked about for a long time, yet we have seen nothing substantial materialize yet. Now that the housing market is deeply depressed, it seems Washington is finally willing to lend an ear.
From The Associated Press, here are the […]
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The NBC Nightly News tonight was all atwitter with the latest news about Fannie Mae and Freddie Mac, the lending giants that handle $5.1 trillion in loans and mortgages. Backed by the Fed, the two giants are in free fall with over $11 billion in loss this year. Senior Bush officials are looking to place […]
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