Tag Archives: federal housing administration

BofA Reduces Mortgage Loan Principal For 200,000

As a result of a settlement with state and federal government, Bank of America is writing down mortgage loan principal for about 200,000 Americans, sometimes as much as $100,000 per mortgage. Banking is far more regulated than ordinary business. Bankers … Continue reading

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The New Mortgage Refinance Program

Underwater homeowners with mortgage guaranteed by Fannie Mae and Freddie Mac will be able to refinance their loans under Obama’s new plan, saving themselves about a thousand dollars a year if they fill out all the paperwork correctly. Kathleen Pender … Continue reading

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Another Obama Stimulus For The Housing Market

This one appears to have as much chance for success as his previous plans — tiny! The more the government intervenes in the housing market, the more it mucks up the workings of the free market and delays the market … Continue reading

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First Time Home Buyers Guide to Down Payment & Mortgages

Buying the first home of your own can be the most exciting and important investment in your life. However, before establishing this huge milestone on your life way, there is a variety of daunting tasks to do, while the biggest … Continue reading

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FHA Needs A Bailout

The FHA stands for the Federal Housing Administration. It is instituting new rules to try to forestall an appeal to Congress for a bailout. The FHA wants to force banks to buy back thousands of troubled mortgages. Kevin Chiu reports: … 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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U.S. Slowly Pulls Back From Mortgage Market

In 2008, the United States federal government essentially nationalized the mortgage market. Now Uncle Sam is erratically but surely pulling back. For the past three years, Fannie Mae and Freddie Mac have bought home loans up to $720,000. Now they’ve … Continue reading

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The Survival Of The 30-Year Fixed-Rate Mortgage

I personally could not give a damn whether or not the 30-year fixed rate mortgage survives. I don’t think I’ll ever be in a position to buy a home. I have no assets. I’m judgment-proof. Go ahead and sue me. … Continue reading

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Further Regulation On Mortgage Lending

Should banks have to determine whether or not people can repay their mortgage loans? That’s a requirement in the Dodd-Frank financial regulation bill. That sounds silly to me. Banks that make mortgage loans that are not repaid are soon going … Continue reading

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Should Fannie, Freddie Dominate The Mortgage Market?

Should taxpayers keep subsidizing Fannie Mae and Freddie Mac so that that affluent home buyers can get a break? Do Fannie and Freddie need to keep buying jumbo loans? Mortgage loans up to $700,000? Or can we leave that to … Continue reading

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