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December 2, 2008 10:03:32 PM CST


mortgage insurance

mortgage insurance news stories

3 Stories

Mortgage Deal Close in Senate

Bipartisan bill would expand insurance for refinanced loans, boost feds' oversight

(Newser) - A Senate committee is close to agreeing on expansion of a government insurance program for refinanced mortgages, the Wall Street Journal reports. Though ridden with partisan conflict as recently as a week ago, staff for Democrat Chris Dodd and Republican Richard Shelby said today the sides were nearing a compromise, and a vote to move the measure along could come in the next few hours. More »

More about:  bailout mortgage Chris Dodd Senate Banking Committee refinanced mortgages Richard Shelby mortgage insurance

Depression-Era FHA Tries to Save Mortgages

Long-sidelined agency now a central player
in the credit crisis

(Newser) - It’s been a while since the Federal Housing Administration was relevant. But now policymakers are counting on the Depression-era agency, which mostly insures mortgages, to once again solve a housing crisis. FHA-insured loans are swiftly becoming substantially cheaper than their Fannie Mae or Freddie Mac backed counterparts. “The FHA’s role is going to be huge,” predicted one mortgage consultant. More »

AIG Posts
$5.2B Loss
on Writedown

Giant insurer takes $11B charge on mortgage woes

(Newser) - Today's after-hours bad news from the credit-crunch front comes from insurer AIG, which reported a fourth-quarter loss of $5.29 billion after taking an $11 billion writedown on mortgage-related insurance contracts, the Wall Street Journal reports. The loss amounts to $2.08 per share; American International Group turned a profit of $1.31 in the fourth quarter of 2006. More »

More about:  Financial Crisis credit crisis AIG writedowns American International Group Martin Sullivan mortgage insurance

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