Smart Borrower Blog

Archive for January, 2010

Freddie CEO Defends His Company’s Existence

After Congressman Barney Frank suggested recently that government-sponsored entities Freddie Mac and Fannie Mae should be “abolished,” Freddie’s CEO took a stand listing off the reasons his company needs to remain in business. During a speech at the Detroit Economic Club on Tuesday, Freddie’s chief executive Charles “Ed” Haldeman Jr. said he would like to […]

Obama Announcing Initiative to Ease Student Loan Burden

With the economy in shambles and unemployment all over the country at an all time high college grads, especially recent ones, are struggling to pay back their student loans. For those struggling, there is some good news. Help may be on the way.

Government May Nationalize Student Loans

There is a new bill being kicked around in Congress that would essentially exterminate the private student loan industry, paving the way for the government to make all loans directly to college students. It’s called the Student Aid and Fiscal Responsibility Act and it calls for the elimination of the Federal Family Education Loan (FFEL) […]

Something Fishy – Bankers Love Credit Card Regulations

The Federal Reserve has released new rules limiting the power of credit card companies to abuse consumers. Among these are the following: Credit card companies may not issue cards to anyone under age 21 unless the applicant has a cosigner or can prove that he/she has the means to make required payments. Card issuers must […]

Is the Auto Lending Industry on the Mend?

Buyers with poor credit are still being priced out of the auto loan market, but with the help of government money, the car loan industry is seeing some signs of life. The Associated Press says that car and light truck sales for December are expected to have reached about 1 million, the highest sales figure […]