Government Share of Mortgage Apps Soars: Report

The latest proof of the government’s growing influence in the mortgage banking sector came Tuesday morning from the Mortgage Bankers Association, ... for government-insured loans — primarily borrowers looking to apply for an FHA-eligible loan, although VA loans are included ... [more...]

Date: 2008-11-25 17:11:08

Blog posts (19) | Videos (19)
 

US Interest Rates Zero to 0.25% and soon 4.5% US mortgages

Hale Bonddad Steward at Huffington Post has a lot of charts that show the bad financial situation ... to refinance a mortgage at 4.5%. The Fed and the Treasury appear ready to start buying up large quantities of securities -- government debt, mortgages, commercial loans, even stocks -- from banks [more...]

Date: 2008-12-16 20:29:22

Lala Land

Blink and you may miss another government bail-out, loan guarantee, federal plan to alleviate a bad or unwise mortgage, a suggestion for more government funds for a more aggrieved constituency, or credit-card relief proposal, etc. All this is said to be smart and necessary, given that we are told that the problem [more...]

Date: 2008-12-16 00:47:41

Mortgage-backed insecurities

If you don’t have enough down payment money to qualify for a traditional mortgage, the government forces you to buy mortgage insurance ... with little (or nothing) down, you may soon be in negative equity. This is the case with about ten ... can only lend 80% of the value of a home without it, you can imagine how many loans fell [more...]

Date: 2009-01-15 02:31:53

Fed's Latest Rescue Package Throws Lifeline to Home Buyers

According to this Reuters article, the Fed announced a new rescue package of $800 billion USD to lower the cost of home purchases, credit card and student loans. Under the new mortgage program, the Fed will buy up to $100 billion of debt issued by government-sponsored mortgage enterprises Fannie Mae, Freddie Mac [more...]

Date: 2008-11-26 09:12:56

Looking For a Loan?

Last week Fannie Mae and Freddie Mac, two of the largest mortgage supporters, ... the Stafford Student Loan, can be used for anything from books to tuition to housing. Rising gas prices make ... about our loan system. Freddie and Fannie were created by the government to make it easier for banks [more...]

Date: 2008-07-21 13:26:00

N.J. man learns modifying mortgage to cut payments may impair credit rating

by Moe Bedard on September 29, 2009 · 0 commentsin American Nightmare To confuse consumers even more, not all lenders follow the guidelines.That may change on November 1, when lenders can use a new code to report them as a “loan modification under government program.” The code will clarify which borrowers have taken modifications, but because the modification process itself is not streamlined, it won’t be the only worm squiggling out of the can.The bigger impact on credit scores may depend on how [more...]

Date: 2009-09-29 13:48:05

Freddie, Fannie Force Borrowers to Waive Legal Rights

When the government announced in November that it would use mortgage giants Fannie Mae and Freddie Mac to streamline loan modifications for ... to sue, if they wanted to get those loans modified. The waiver of legal rights is buried among a long ... more affordable loans under the new loan program, which began on Dec. 15. Some experts say the waivers [more...]

Date: 2009-01-15 16:36:00

Moral Hazard Revisited…..

One of the important things that Paulson said in the press conference yesterday was that we (the government) ... it?   That’s all that most mortgage lenders really cared about when structuring a loan.   On Wall Street [more...]

Date: 2008-09-08 22:39:28

Fannie, Freddie, now FHLBs?

Some other banks are encountering difficulties today -- namely the Federal Home Loan Banks, one of the biggest providers of funding for US mortgages. From Bloomberg: The Federal Home Loan Bank of Seattle said it will suspend dividends and "excess" stock repurchases, becoming the second of the government-chartered lending cooperatives to say [more...]

Date: 2009-01-14 12:35:34

Government Help With Homeowner Loan Arrears Likely To Kick In This Year

As the current economic situation in the UK seems to be getting worse, ... , it is likely that a large number of borrowers with homeowner loans will struggle to maintain ... and even repossessions. The Council of Mortgage Lenders has predicted that there will be somewhere [more...]

Date: 2009-01-15 20:39:19

Are greedy wolves making government-insured mortgages?

Now that subprime is a dirty word and Wall Street firms are no longer making securities backed by loans to people with low credit scores, brokers and bankers are filling the void with a little help from Uncle Sam. They are making loans ... FHA, which is meant to expand credit to folks of modest means? John Courson, president of industry [more...]

Date: 2009-01-15 11:00:45

BofA Needs to Cut its Dividend

BofA Needs to Cut its Dividend Posted by: Matthew Goldstein on January 15 Bank of America reportedly needs billions of dollars in additional federal ... mortgage-backed securities and ailing consumer loans. In taking over Citi and winding down ... to expend much money—allowing the government to direct more money to banks with healthier balance sheets [more...]

Date: 2009-01-15 13:37:00

Free Helpful Advice - Can The Hope For Home Ownership Relief Act Really Help Homeowners Avoid Foreclosure?

My take on this bill is that it will be a another government run fiasco ... be at least 31 percent; * They cannot afford their current loan; * They did not intentionally miss ... the new program include: * 30-year, fixed rate mortgage; * Maximum 90 percent loan-to-value ratio [more...]

Date: 2009-01-15 07:36:03

Understanding Credit Information And How It Governs Our Everyday Life

When you ask for a student loan, try to get financing for a car or apply for a mortgage, the lender will look at your credit information ... slip into collection or made a settlement offer on a past credit card. By assessing this financial [more...]

Date: 2008-10-28 09:07:06

US Mortgage Crisis: Fannie and Freddie. Give Away the Farm

Dandelion Salad by Dr. Ellen Hodgson Brown Global Research, August 7, 2008 webofdebt ... access to credit. If foreign companies and governments abandon United States investments, home, auto and credit card loans will be much more difficult [more...]

Date: 2008-08-07 18:07:41

Constitution Party: ‘The mortgage thieves return’

Reposted at http://www.constitutionparty.com/news.php? ... spectacle of bad actors descending on a government program fat with new money and starved ... and proof of an ability to pay the money back. These were boring 30-year fixed-rate loans. Now FHA [more...]

Date: 2009-01-07 18:25:37

Alt-A and ARM resets could trigger another crisis!!!

We are winding down out of subprime and going into Alt-A and ARM resets. We have government funding for homes in two ways. One, incentives with lower rates and tax credits, but, there is more. The GSE’s are allowing loans that are 105% and where the monthly debt to income is over 60%. These loans have high default rates and we will pay the price as unemployment stays high. quote Let’s look at a few facts: The Fed is literally the entire mortgage market. Yes, really. [more...]

Date: 2009-09-29 18:15:58

Government Share of Mortgage Apps Soars

"The latest proof of the government’s growing influence in the mortgage banking sector came Tuesday morning from the Mortgage Bankers Association, ... for government-insured loans — primarily borrowers looking to apply for an FHA-eligible loan, although VA loans are included in the total as well — compared to 10.3 percent one year ago." [more...]

Date: 2008-11-25 19:47:43

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