Tag Archives: federal reserve chairman

Banks Are Stronger, But Mortgage Demand Is Weak

I was not a big fan of the President Bush’s $700 billion plan to bail out Wall Street and the banks but virtually all of this money has been repaid to the U.S. Treasury so on balance, the move probably … Continue reading

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Mortgage Applications Rise, Mortgage Interest Rates Fall

Normally, mortgage interest rates and mortgage applications operate in inverse directions. With increased demand for mortgages, interest rates usually rise. Now we have an increase in mortgage applications while rates are going down. Why? Because the overall demand for mortgages … Continue reading

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Shoddy Mortgages Cost Big Five Banks $72 Billion

Paperwork processing problems have cost the big five banks about $72 billion according to this Bloomberg story. The banks are preparing to settle with state AGs for about $25 billion to satisfy many of the claims from robo-signing. Bloomberg says: … Continue reading

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Obama’s Plan To Expand Mortgage Refinancing Seems Like A Political Statement

Investors in mortgage-backed security bonds regard President Obama’s plan to expand mortgage refinance as more of a political theater rather than an economic reality. Significant parts of the president’s plan would need congressional approval and that is unlikely to happen … Continue reading

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An Ethical Take On Mortgage News

Rabbi Brad Hirschfield has a video on the Washington Post about President Obama’s plans for the mortgage market. The rabbi has no special expertise in the mortgage market. Instead, he’s evaluating the wording of recent business news. The rabbi condemns … Continue reading

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What Will Rick Perry’s Remarks About The Fed Mean For Refinancing?

I just saw a new poll putting Rick Perry way ahead in the race for the Republican nomination for president. I’m a conservative Republican. I’m excited about Rick Perry and it seems I am not the only one. He’s putting … Continue reading

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Who Was To Fault For The Housing Bubble?

Was it the Fed’s easy money policy? That drove up commodity prices, real estate, gold and the like. Was it lack of adequate regulation? Until this bust, the mortgage market was reliable. Widows and orphans invested in its bonds. Something … Continue reading

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Federal Reserve Chief Ben Bernanke Pushes Congress For New Regulation

I assume Ben Bernanke particularly wants more regulatory power in the hands of the Federal Reserve. Regulators love their power! Ben Bernanke has told Congress it needs to bring new regulation to prevent another credit meltdown. Bernanke by ideology is … Continue reading

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The Role Of Government In Our Mortgage Problems

What should the government do with Fannie Mae and Freddie Mac? It seems like everyone has an idea. That’s a problem with GSEs. Too many conflicting missions. Some say they should concentrate on making money. Others say they should do … Continue reading

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FDIC To The Rescue?

Politicians are looking into all sorts of ideas for channeling aid to distressed homeowners. All of these plans however give aid and succor to those who’ve made bad decisions. America already does more to enable mortgages than any other country … Continue reading

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