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August 21, 2008 7:34:21 PM CDT

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Stories related to: mortgage lender

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13 Stories

  • July 2008

    • Ex-Fannie Mae Chief: Don't Bail 'Em Out

      Washington Post  |  Jul 16, 08 8:53 AM CDT

      Ex-Fannie Mae Chief: Don't Bail 'Em Out

      (Newser) - Coherent policy from Washington—not a financial bailout—is what mortgage titans Fannie Mae and Freddie Mac are most in need of, writes former Fannie chief Franklin Raines in the Washington Post . “They have more than enough capital to meet their cash obligations,” he writes, as well as billions in assets. He accuses the White House of a  "multiyear effort to eliminate the companies by talking them down to the financial markets," and says they'll do fine, without subsidies, if they are given "unfettered access to the private markets." More »

      Tags

      Fannie Mae  • Freddie Mac  • mortgage lender

    • Mortgage Insurers Feel Pinch, Pull Back on Loans

      Wall Street Journal  |  Jul 15, 08 9:51 AM CDT

      Mortgage Insurers Feel Pinch, Pull Back on Loans

      (Newser) - Mortgage insurers facing mounting defaults are tightening their standards, adding another hurdle for potential homebuyers, the Wall Street Journal reports. Beleaguered and risk-averse banks are making more mortgage applicants apply for insurance, just as insurers are declaring more parts of the country “declining markets.” making insurance harder to obtain. The result is “wreaking havoc” on the industry, one bank representative tells the Wall Street Journal. More »

  • May 2008
  • April 2008

    • Mortgage Biz Battles Fed Reforms

      New York Times  |  Apr 28, 08 7:05 AM CDT

      Mortgage Biz Battles Fed Reforms

      (Newser) - As the Federal Reserve moves toward stricter lending rules, mortgage providers are firing back, calling the rules too broad and arguing that they could limit loans to borrowers who don't have credit problems, the New York Times reports. Regulation, bankers say, could raise the price of mortgages by increasing paperwork and the risk of lawsuits. The outcry has pushed the Fed to consider narrowing the number of mortgages the rules would apply to. More »

      Tags

      Federal Reserve  • mortgage  • subprime mortgage crisis  • mortgage lender  • lending practices  • bankers

    • Bank of England Launches Mortgage Swap Plan

      BBC  |  Apr 21, 08 4:00 AM CDT

      Bank of England Launches Mortgage Swap Plan

      (Newser) - Commercial banks will be allowed to temporarily swap some $100 billion in troublesome mortgages for securities backed by Britain's central bank under a plan announced today, the Wall Street Journal reports. The move by the Bank of England, aimed at boosting  liquidity and confidence in the banking system, follows similar action by the US Federal Reserve. More »

      Tags

      Federal Reserve  • Gordon Brown  • mortgage  • Alistair Darling  • Bank of England  • mortgage lender  • consumer debt

    • Lenders Turning Blind Eye to Overdue Payments

      Bloomberg  |  Apr 4, 08 4:24 PM CDT

      Lenders Turning Blind Eye to Overdue Payments

      (Newser) - With foreclosures skyrocketing, overwhelmed mortgage lenders are turning a blind eye to homeowners who haven’t paid up, letting them live in their houses despite delinquency, Bloomberg reports. The 3.6% of borrowers at least 90 days behind is almost twice the percentage foreclosed upon. Lenders’ delays are skewing foreclosure records and means even more homes could soon clog a flooded market. More »

      Tags

      housing market  • housing crisis  • mortgage crisis  • bank  • borrowers  • mortgage lender  • mortgage delinquency

  • March 2008
  • February 2008
  • December 2007

    • Freddie Mac Chief: Housing Market Will Get Worse in 2008

      Financial Times (UK)  |  Dec 12, 07 11:14 AM CST

      Freddie Mac Chief: Housing Market Will Get Worse in 2008

      (Newser) - Predicting even tougher times for the US housing market, Freddie Mac chief Richard Syron yesterday told investors in New York that the government-sponsored mortgage lender would report another net loss in the fourth quarter and credit losses to $12 billion on its mortgage portfolio, reports the Financial Times. Freddie Mac reported a record $2 billion loss in the third quarter. More »

      Tags

      subprime mortgages  • foreclosure  • mortgage  • Freddie Mac  • mortgage lender  • default

  • August 2007

    • Mortgage Mess Was 100% Avoidable

      American Prospect  |  Aug 29, 07 7:39 PM CDT

      Mortgage Mess Was 100% Avoidable

      (Newser) - Blame for the current economic disaster should be placed squarely on the shoulders of the US government, for deregulation that allowed speculators to cash in, writes the American Prospect’ s Robert Kuttner. Helping boost "ordinary people" into the "propertied class" has fallen out of favor in Washington, with the savings and loan crisis a precursor to the current mess. More »

      Tags

      US economy  • subprime mortgages  • Ronald Reagan  • mortgage lender  • US government  • Franklin D. Roosevelt

    • Condo Crash Is Just Beginning

      Wall Street Journal  |  Aug 25, 07 11:40 AM CDT

      Condo Crash Is Just Beginning

      (Newser) - Mortgage lenders are about to be hit with another wave of foreclosures and bankruptcies, the Journal reports, as the crisis kicks in in condo market. Because buildings take years to complete, even after buyers have signed contracts, the effect of declining property values and tight credit are slower to talk effect than in single-family homes.   More »

      Tags

      foreclosure  • mortgage  • real estate  • mortgage lender  • condominium

    • Credit Crunch Continues, and So Do Ads

      Washington Post  |  Aug 24, 07 6:43 AM CDT

      Credit Crunch Continues, and So Do Ads

      (Newser) - As the credit crunch transforms the financial landscape, one thing hasn't changed: lenders continue to offer loans that are too good to be true. The Washington Post writes that mortgage companies are still offering risky products to risky customers—even Countrywide, which barely avoided bankruptcy, is flogging cheap money with the slogan "We make it easy!" More »

      Tags

      subprime mortgages  • credit crisis  • advertising  • Countrywide  • loans  • mortgage lender

    • Smaller Lenders Feel the Credit Squeeze

      Wall Street Journal  |  Aug 15, 07 11:03 AM CDT

      Smaller Lenders Feel the Credit Squeeze

      (Newser) - As the subprime fallout continues and the credit squeeze tightens, thousands of smaller-scale mortgage banks find themselves in dire straits. The Wall Street Journal reports that small- and medium-sized lenders, even those with excellent credit quality, are suspending funding and laying off employees, which leaves giant corporations to grab more of the (shaky) market. More »

      Tags

      subprime mortgages  • mortgage  • Fannie Mae  • Freddie Mac  • bank  • loans  • liquidity  • mortgage lender  • credit  • Thornburg Mortgage

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