According to REAL Trends, Fannie and Freddie notified bond traders last week that each company needs to purchase $20B per MONTH in underperforming mortgage securities. Their efforts are separate from the $700B bailout deal that was ratified last week. It will be interesting to watch the 2 companies, themselves laden with under-and-non-performing debt, bloat up […]
Entries Tagged as 'Mortgage Reform'
Fannie and Freddie to Step it Up
October 14th, 2008 · No Comments
Tags: Legislation and Policies · Mortgage Reform
Real estate doom and gloom…NOT!
October 6th, 2008 · 2 Comments
With all of the negative press that we’re exposed to throughout the day, we need to remember that the real estate market, at least, is still alive and well. Since the government’s ’sudden recognition’ that it was broken, changes have been made to push the industry in a healthy direction. That is, by making affordable […]
Tags: Mortgage Reform · Random Musings
US government to take over Fannie and Freddie
September 8th, 2008 · No Comments
According to the Associated Press, the federal government is set to acquire Fannie Mae and Freddie Mac tomorrow. The move is designed to supersede the very real possibility that one or both could go bankrupt, leaving the American public in a very expensive and unfortunate predicament.
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Here’s the full story:
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The Bush administration, acting to avert the potential for major financial […]
Tags: Legislation and Policies · Mortgage Reform
Fannie Mae hammered by $2.3B loss. What now?
August 10th, 2008 · 1 Comment
On Friday, Fannie Mae which, with Freddie Mac, holds or guarantees about 1/2 of all outstanding mortgages, declared a $2.3 billion loss. Analysts had expected a loss of about $0.68/share, a fraction of the reported $2.54, which sent shares of FNMA falling 9% for the day.
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The huge blow is largely attributed to a surge in […]
Tags: Foreclosures/Short sales · Mortgage Reform
Critical Housing Bill HR-3221 Passes the Senate - Headed to Congress
July 23rd, 2008 · 2 Comments
Here’s an important update from our friend Glen Reiley over at Bell Mortgage regarding HR-3221, a bill that will have far reaching consequences in the housing and mortgage lending industries.
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Important Legislative Update
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It looks like HR 3221 – has passed the Senate and is headed back to the House of Representatives. If passed, the President could […]
Tags: Guest Articles · Legislation and Policies · Mortgage Reform
Congress & the President Jockeying for the “Right” Housing Reform Package
May 5th, 2008 · No Comments
Congress and the President are going round and round over the right mix of reforms to help the flagging housing market.
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Nothing has officially been settled yet, but recent moves by Republican Congressmen to back Democrat-proposed legislature could get the President’s attention.
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Reforms proposed by Congress include:
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$300 billion in FHA insured loans for financially-strapped homeowners
A $7,500 credit […]
Tags: Foreclosures/Short sales · Mortgage Reform
No Surprise Here…Mortgage Industry Challenges Fed’s Proposal to Tighten Lending Standards on Exotic Mortgages
May 1st, 2008 · No Comments
The Federal Reserve’s Proposal a few months back to require more stringent verification requirements for new mortgages under so-called ‘exotic’ terms was not surprisingly met with significant resistence by 3 of the leading banking trade groups: the American Banker’s Association, the Mortgage Banker’s Association, and the Independent Community Bankers Association.
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The legislation would force lenders to show […]
Tags: Mortgage Reform
