Tag Archives: democrats and republicans

Fannie Mae Wants $4.6 Billion

President Obama’s plan to allow underwater homeowners to refinance their mortgages is only going to further drain government resources to prop up the housing industry. Over the next three years, Congress will be expected to pony up another $100 billion … Continue reading

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What Role Should Government Play In Mortgage Industry?

A prominent Republican says the federal government should continue to play a role in the mortgage industry. This Republican leader wants to dramatically scale back the government’s role and to wind down Fannie Mae and Freddie Mac. Just as they … Continue reading

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No Major Tumble For Financial Markets

We’re still waiting for Democrats and Republicans to come to an agreement to extend the debt ceiling. So far, the markets are not panicking. There’s been no explosion in the interest rates paid out by bonds. Mortgage interest rates held … Continue reading

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Government Steps Back From Guaranteeing Expensive Mortgages

The Federal Housing Administration is pulling back on insuring the more expensive mortgages. So how will this affect the buying market for such homes? Will buyers be able to get financing? Let’s look at this picture overall. The federal government’s … Continue reading

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Housing Bureaucrat Gains Fame, Respect

From the New York Times: WASHINGTON — The phone calls have been streaming into the Federal Housing Administration for months now — from White House budget officials, Democratic lawmakers and the occasional cable television news producer — all asking for … Continue reading

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Refinance Rescue

From the IHT: Today, President Bush and Democrats in Congress are all counting on the FHA to lead the national effort to rescue homeowners at risk of foreclosure. And Montgomery, a long-time Bush loyalist who came to this job with … Continue reading

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Senate’s Refinance Bailout Plan

From the wires: Profits from government-sponsored mortgage giants Fannie Mae and Freddie Mac, instead of taxpayers, would back up a home loan rescue for up to 500,000 strapped borrowers under a plan approved by a key Senate committee Tuesday to … Continue reading

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Angry At The Mortgage Bailout

From the WSJ: "It seems like America‘s renters may NEVER be able to afford a home," AngryRenter.com laments. The housing crisis has sparked broad financial and economic distress. On Thursday, key Senate Democrats and Republicans reached an agreement in principle … Continue reading

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Planning Our Way Out Of The Mortgage Mess

Writers would love for the smart planners to get together and figure out a government solution to the credit crisis. After all, it worked for New York in 1975 right? Democrats and Republicans, business and labor, all sat down and … Continue reading

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Who Deserves Help?

Alan Zibel writes that "bailout" is a dirty word in Washington D.C. But there’s no shortage of politicians who want to "help." The subprime mess has rippled across the economy and hundreds of thousands of home-owners are in danger of … Continue reading

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