Category Archives: Lenders

Fannie Mae, Freddie Mac Need More Money

They’ve absorbed $96 billion in bailout funds and may need more. Yay! They’re reckless in lending and this non-governmental agency keeps sucking away on the taxpayer tit. Since July of 2007, Fannie and Freddie have lost $165 billion. Fannie and … Continue reading

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Fannie & Freddie To The Rescue?

After requiring tens of billions of dollars in taxpayer bailouts, Fannie Mae and Freddie Mac have a plan to jumpstart mortgage lending. They’ve got a plan to facilitate lending to independent banks for mortgage lending. Fannie and Freddie will shoulder … Continue reading

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Local Governments Bailing Out Trouble Loans

William Yardley writes about local governments lending money to save people from foreclosure. Many wonder the government is bailing out the middle class? Why should tax payers subsidize the well off who make bad loan decisions? Seattle, which has nowhere … Continue reading

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U.S. Congress Considers Mortgage Bailout

The IHT reports that Uncle Sam might buy up to $15 billion worth of bad mortgages. The U.S. government might buy up to one million mortgages over five years to help reduce foreclosures and stablize lenders. The loans would be … Continue reading

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Making Mortgages

The Los Angeles Times writes about the effect of falling home prices on making making mortgages. This particularly affects those who live in areas with dramatically lower real estate prices such as Southern California. Fannie Mae is the giant government-sponsored … Continue reading

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Lender Lobbying Blitz Abetted Mortgage Crisis

Glenn R. Simpson writes: During the housing boom, the subprime industry succeeded at more than just writing mortgages. It also shot down efforts by some states to curtail risky lending to borrowers with spotty credit. Ameriquest Mortgage Co., until recently … Continue reading

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Risk Of Blacklisting

Jim Buchta writes: According to a survey last year by the October Research Corp., almost 90 percent of the appraisers polled said that they were pressured by mortgage brokers, lenders, realty agents, consumers and others to raise property valuations. That … Continue reading

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Before You Refinance

The Baltimore Sun advises: “Make sure you talk to at least three different lenders,” says Freddie Mac’s Nothaft. “Don’t just apply to the one guy who is persistent and keeps talking to you.” Compare their interest rates and other costs. … Continue reading

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Refinancing

From the Baltimore Sun: Many subprime borrowers are now refinancing into FHA loans that don’t require stellar credit. And other borrowers, say, with mediocre credit scores or not much equity in a home can refinance, too. In those cases, it … Continue reading

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