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Frank's fingerprints are all over the financial fiasco Monday, September 6, 2010 @ 2:37AM'THE PRIVATE SECTOR got us into this mess. The government has to get us out of it."
Underwater mortgages: Saving your home from financial floods Sunday, September 5, 2010 @ 1:20AMAre you underwater? Many local residents have found themselves in underwater mortgages, which means that a homeowner owes more debt on a house than what it's worth. Houses that can't be sold for what's left on their mortgages are one of many symptoms of the current recession. It's a serious problem in Ohio, but it's worse in many other states. By date (default) read more
Fannie Mae program designed to sell foreclosures Friday, September 3, 2010 @ 4:02AMBy Kenneth R. Harney, Special to the Times Wednesday, September 1, 2010 Fannie Mae program aims to help move backlog of foreclosures WASHINGTON — If you fit the profile — typically buyers with little cash on hand or small-scale investors looking for a deal on a foreclosed house — a little-publicized national lending program could be just what you need this fall. Here's what it offers: • Minimal ...
Why Housing Is Even Worse Than You Think Thursday, September 2, 2010 @ 10:31AMThe plunge in sales and prices comes despite more government aid than most people realize.
Fannie Mae Gets Tougher On Mortgage Servicers Thursday, September 2, 2010 @ 10:08AMFannie Mae, the largest provider of funding for residential mortgages in the country, will begin demanding compensation from mortgage servicing companies that fail to properly handle troubled mortgage loans, the company announced late on Tuesday.
National First Look Program To Help Foreclosure Ridden Communities Thursday, September 2, 2010 @ 10:08AMThe National First Look Program, a public-private partnership agreement between the U.S. Housing and Urban Development and the National Community Stabilization Trust (Stabilization Trust), has been announced.
Chinese Drywall Complaint Center Urges More Time to Identify Toxic Chinese Drywall Victims in US Gulf States ands Adds ... Monday, August 30, 2010 @ 11:00PMSupposedly a deadline of September 3rd 2010 has been decreed, with respect to identifying toxic Chinese drywall in all US homes.
Skipping out on mortgage can be risky Monday, August 30, 2010 @ 2:50AMSome homeowners underwater on their home loan -- meaning they owe more on the mortgage than the home's current value -- are turning to "strategic defaults" in which they simply walk away from mortgage debt.
Q&A: What's ahead for Fannie Mae and Freddie Mac Friday, August 27, 2010 @ 8:04PMQ: What are Fannie Mae and Freddie Mac? A: The two government-created enterprises are the nation's largest buyers of mortgages. They pool home loans from lenders and sell them with a guarantee that investors will get paid even if borrowers default.
Skipping on mortgage debt can be risky Thursday, August 26, 2010 @ 10:12PMSome homeowners underwater on their home loan – meaning they owe more on the mortgage than the home’s current value – are turning to “strategic defaults” in which they simply walk away from mortgage debt. But financial experts warn that the cost of skipping out on mortgage debt can be high. The American Bankers Association recently warned homeowners about the consequences of strategic default ...
Ray Brescia: When the Rich Get Risky: Inequality and Financial Crises Thursday, August 26, 2010 @ 10:54AMOne of the most striking--and perhaps most underreported--aspects of the financial crisis is reflected in one economic indicator. The chart below tracks this indicator over...
Mortgage Rates: How Low Can They Go? Thursday, August 26, 2010 @ 10:43AMIn what has become a limbo dance of mortgage lending, rates managed to reach yet another low.
The slow PACE of energy efficiency Thursday, August 26, 2010 @ 2:06AMWith just two short letters—about half a page each—mortgage giants Fannie Mae and Freddie Mac began a process that would quickly undo years of work across 23 states seeking to stimulate new green jobs and energy-efficient homes.
Foreclosures mount for Remy family Wednesday, August 25, 2010 @ 5:29PMAll nine contested apartment buildings owned by the Remy family have now been foreclosed upon or received partial judgment against them for failure to pay at least $28.7 million in mortgages held by Fannie ...
'It's a slow repair' for condo market as experts look to 2013 Wednesday, August 25, 2010 @ 1:38PMDavid Roeder: In Chicago, where the cry "Wait 'til next year" is a common refrain, the condominium market is getting its own version of a losers' lament: "Wait 'til 2013." If you are a condo investor, owner, builder, Realtor or anybody else with a vested interest in rising condo prices, the market probably won't appear stable for three years.
U.S. Home Prices Drop 1.6% in Second Quarter From Year Earlier, FHFA Says Wednesday, August 25, 2010 @ 12:08PMU.S. home prices fell 1.6 percent in the second quarter from a year earlier as record foreclosures added to the inventory of properties for sale.
Existing Home Sales Sink to 15-Year Low Tuesday, August 24, 2010 @ 6:31PMSales of Previously Occupied Homes Down 27 Percent in July
Risks of walking away from mortgage debt Monday, August 23, 2010 @ 6:40AMSome homeowners underwater on their home loan -- meaning they owe more on the mortgage than the home's current value -- are turning to "strategic defaults" in which they simply walk away from mortgage debt.
Editorial: Taking aim at predators Monday, August 23, 2010 @ 12:09AMMayor A C Wharton says Memphis' high poverty rate and low level of financial literacy make the city a target for scams aimed at homeowners faced with foreclosure.
ALL BUSINESS: Risks abound if too many refinance Wednesday, August 18, 2010 @ 1:57AMNEW YORK—Lots of homeowners are frustrated these days that they can't seem to get a mortgage refinance even though interest rates are at historic lows. It turns out they're not alone.
Mortgages: Bank executives say government needs to back home loans Tuesday, August 17, 2010 @ 5:11PMWASHINGTON -- The call from business for less government has a notable exception: the mortgage market.
Coping with Fannie and Freddie's collapse Tuesday, August 17, 2010 @ 4:51PMQuestions and answers about Fannie Mae and Freddie Mac and their role in the mortgage market: Q: What are Fannie Mae and Freddie Mac? A: The two government-created enterprises are the nation's largest buyers of mortgages. They pool home loans from lenders and... Freddie Mac - Fannie Mae - Mortgage - Loan - United States
Coping with Fannie and Freddie's collapse Tuesday, August 17, 2010 @ 4:49PMQuestions and answers about Fannie Mae and Freddie Mac and their role in the mortgage market:
Coping With Fannie and Freddie's Collapse Tuesday, August 17, 2010 @ 4:43PMAnsweres to common questions about Fannie Mae, Freddie Mac and future of mortgage system Fannie Mae - Freddie Mac - United States - Business - Mortgages
Coping with Fannie and Freddie's collapse Tuesday, August 17, 2010 @ 4:28PMQ: What are Fannie Mae and Freddie Mac?
Coping with Fannie and Freddie's collapse Tuesday, August 17, 2010 @ 4:17PMQuestions and answers about Fannie Mae and Freddie Mac and their role in the mortgage market: Q: What are Fannie Mae and Freddie Mac?
Coping with Fannie and Freddie's collapse Tuesday, August 17, 2010 @ 4:17PM-- Questions and answers about Fannie Mae and Freddie Mac and their role in the mortgage market: Fannie Mae - Freddie Mac - United States - Mortgage loan - Federal government of the United States
Coping with Fannie and Freddie's collapse Tuesday, August 17, 2010 @ 4:17PM-- Questions and answers about Fannie Mae and Freddie Mac and their role in the mortgage market: Freddie Mac - Fannie Mae - United States - Mortgage loan - Barney Frank
The Bottom For Housing Starts? Monday, August 16, 2010 @ 2:56PMBy Josh Zachariah. Warren Buffett commented on CNBC a couple months ago saying we should expect to see an up-tick in house prices in about a year, at least for regions not overproduced. Though it should be read with caution as he acknowledges he didn't appreciate the size of the housing bubble years ago and made some mistimed investments in companies like U.S. Gysum. In any case he's generally ...
Thinking About Rainbows Monday, August 16, 2010 @ 12:06PMI’ ve been thinking about rainbows. Actually I’ve been thinking about storms, Creston, our economic prophets, unemployment, the equity markets, real estate, Sierra Leone, Pastor Samuel Menyongar, and “beautiful prisons.”
Treasury Housing Fix Means Juggling Bailout, Economy Monday, August 16, 2010 @ 12:05PMThe U.S. Treasury Department, hosting a summit tomorrow on how to repair the mortgage-finance system, may get a blunt message from stakeholders in an industry tied to 15 percent of the country’s economy: Don’t screw it up.
Obama Wins Low Yield as Markets Shrink Aiding Deficit Monday, August 16, 2010 @ 6:46AMBond investors seeking top-rated securities face fewer alternatives to Treasuries, allowing President Barack Obama to sell unprecedented sums of debt at ever lower rates to finance a $1.47 trillion deficit.
U.S. targets mortgage market reform Monday, August 16, 2010 @ 5:32AMU.S. Treasury Secretary Timothy Geithner calls on experts for advice on what to do with key players in mortgage market – Fannie Mae and Freddie Mac
Geithner takes aim at mortgage market reform Sunday, August 15, 2010 @ 7:01PMU.S. Treasury Secretary calls on experts for advice on what to do with key players in mortgage market – Fannie Mae and Freddie Mac
Deals on foreclosures Friday, August 13, 2010 @ 7:54PMNearly 100 foreclosed homes and condos in South Florida will be auctioned on Saturday, as part of Fannie Mae 's community homebuyer program taking place in Miami Beach.
Bid For The Home Of Your Dreams Saturday Friday, August 13, 2010 @ 6:00PMFannie Mae will begin auctioning off foreclosed homes in South Florida this Saturday. The auction is a first for Fannie Mae and South Florida because investors will not be allowed to bid; only potential homeowners.
Representatives Convey and Kaptur Call on Geithner, Fannie, FHFA to Stop Efforts to Pursue Strategic Defaulters Friday, August 13, 2010 @ 3:23PMAs we’ve noted on this blog, the Administration efforts to punish so-called strategic defaulters seem hopelessly misguided. First, it’s well nigh impossible to tell with simple screens who really could afford their house longer term (ie people who default suddenly, as opposed to wobble in and out of being current on their mortgage before folding, [...]
Nearly 100 South Florida Properties to be Auctioned at Community Homebuyer Event Friday, August 13, 2010 @ 9:07AMAs part of its neighborhood stabilization efforts in South Florida, Fannie Mae will hold private and public community homebuyer auctions for nearly 100 of its HomePathÂ® REO properties in Florida's Miami-Dade, Broward and Palm Beach counties at the Miami Beach Convention Center on Saturday, August 14.
High-End Home Sales Getting Boost From Low Jumbo Rates Thursday, August 12, 2010 @ 5:26PMWhile record-low mortgage rates aren't doing much to spur regular home sales, the higher end of the housing market is getting a big boost from the decline in so-called jumbo rates.
Low 'Jumbo' Rates Help High-End Home Sales Thursday, August 12, 2010 @ 3:28PMThe higher end of the housing market is getting a significant boost from record-low rates on 'jumbo' loans -- mortgages of $417,000 and above.
Richard Zombeck: Massachusetts Passes Cornerstone Homeowner and Tenant Protection Bill Thursday, August 12, 2010 @ 1:24PMMassachusetts is once again leading the pack in protecting consumers by passing legislation to protect families from getting thrown out of their homes. "An Act...
$122M in mortgage aid headed to New Jersey Wednesday, August 11, 2010 @ 7:06PMTo try to help prevent more defaults, the Obama administration Wednesday said will send $112 million to New Jersey to design a program to help unemployed homeowners stay in their homes while looking for work.
Treasury Correction: Modified Mortgages Perform Less Favorably Tuesday, August 10, 2010 @ 9:18AMThe Treasury Department released a corrected report that shows how modified mortgages are performing less favorably than an earlier report had suggested.
Risks might limit feds' mortgage overhaul Tuesday, August 10, 2010 @ 4:44AMWASHINGTON -- Keeping Fannie Mae and Freddie Mac in business will cost taxpayers billions. But getting the federal government out of the mortgage business would cost homebuyers dearly, in the form of higher interest rates.
Government likely to keep big mortgage market role Tuesday, August 10, 2010 @ 4:19AMWASHINGTON — Keeping Fannie Mae and Freddie Mac in business will cost taxpayers billions. But getting the federal government out of the mortgage business would cost home buyers dearly, in the form of higher interest rates.
Government weighs mortgage future Tuesday, August 10, 2010 @ 2:10AMKeeping Fannie Mae and Freddie Mac in business will cost taxpayers billions.
Government likely to stay in mortgage market Tuesday, August 10, 2010 @ 1:22AMWASHINGTON -- Keeping Fannie Mae and Freddie Mac in business will cost taxpayers billions. But getting the federal government out of the mortgage business would cost home buyers dearly, in the form of
Freddie Mac narrows loss, but firm needs more government aid Monday, August 9, 2010 @ 11:00PMMortgage finance giant Freddie Mac said Monday that its loss in the second quarter narrowed but that taxpayers would still be on the hook for the foreseeable future. Freddie Mac - Apple - FannieMae - Macintosh - Operating Systems
Homeownership rate peaked in 2005 Sunday, August 8, 2010 @ 2:11AMQuestion: Before the housing crash and all the foreclosures, wasn't the government trying to increase the rate of homeownership in America? What's happened to the rate of homeownership since things took a downturn in 2006?
House lawmaker calls for probe of Fannie Mae allegations Saturday, August 7, 2010 @ 6:49PMWASHINGTON (Reuters) - The top Republican on the House Financial Services Committee called on Friday for an investigation into charges that mortgage finance giant Fannie Mae pushed borrowers into a mortgage aid program so it could receive incentive payments from the U.S. government.