Monthly Archives: September 2008

Should Home Loans Be Included In The Bailout?

From Canada: FDIC chairwoman Sheila Bair said she hoped that changes on home loans “will be a feature of that.” Under the US$700-billion proposed bailout plan, the government could acquire troubled mortgage assets or provide a guaranty for delinquent loans, … Continue reading

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FDIC Chief In Middle Of Bank Storm

From Boston.com: Funny, Sheila Bair never made any list of the world’s most powerful women while she was teaching financial regulation at the University of Massachusetts in Amherst. Congress and the rest of Washington are watching the FDIC’s sweeping new … Continue reading

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The IndyMac Model For Bailouts

From the Boston Herald: So far, that’s helping keep rates for 30-year fixed-rate mortgages at around 6 percent. Rather than the slow, loan-by-loan modification efforts typical of banks – so-called “workouts” to lower rates, payments and even loan balances – … Continue reading

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Cheap Mortgages Dead

From the Scotsman: Financial experts said the UK government’s decision to nationalise Bradford & Bingley was the final nail in the coffin of the “pile ’em high, sell ’em cheap” mortgage market. “Widespread expectations that house prices will continue to … Continue reading

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UK Mortgage Market Crashes

LONDON, Sept 29 (Reuters) – Mortgage lending barely rose at all in Britain in August, with the increase shrivelling to two percent of what it went up by a year ago. Analysts speculated net lending could even turn negative before … Continue reading

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Helping People Stay In Their Homes

Ruth Simon writes: The bailout package includes more aggressive steps to help troubled borrowers keep their homes by requiring the government to do more to reduce loan balances and interest rates. Until now, most government efforts, including its Hope Now … Continue reading

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Get Your Loan Online

SAN CLEMENTE, Calif., Sept 29, 2008 /PRNewswire via COMTEX/ — The Loan Officer has met his end. For the first time in history, online mortgage applications have surpassed traditional mortgage loan applications. The shift from traditional over the phone or … Continue reading

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Politicians Created This Credit Mess

Armstrong Williams writes: First, the government artificially inflated residential real-estate sales through several laudable – but sloppily executed – policies, such as: (1) tax breaks on interest and property taxes for homeowners; (2) implicit government guarantees of the debt of … Continue reading

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Rescuing Main Street

From Forbes: As a matter of fact, the stock market did not reach the old 1929 highs again until 1954. The manner in which the government is handling this “bailout,” “rescue,” or whatever semantics you want to place on this … Continue reading

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Facing Debt Deadlines

From the Washington Times: “The increasing stress in money markets shows that credit is significantly declining in availability and rising in cost. While Treasury and the Federal Reserve have taken steps to try to coax buyers back into the commercial … Continue reading

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