Tag Archives: financial services committee

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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Key Democrats Push Fannie, Freddie To Write Down Mortgage Principle

Taxpayers have already put out nearly $200 billion to prop up Fannie Mae and Freddie Mac. They are on the hook for hundreds of billions more. Key Democrats are pushing the regulator of Fannie and Freddie to write down mortgage … Continue reading

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Some Republicans Want More Government Support For Housing

The free market approach to the housing industry is the same as it is to the orange juice industry — let the government get out of the way. The majority Republican approach to Fannie Mae and Freddie Mac is to … Continue reading

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Barney Frank Helped His Gay Lover Get A Job With Fannie Mae

When Herb Moses’s relationship with Barney Frank ended in 1998, Herb left Fannie Mae. Barney Frank made some calls to get Herb the Fannie Mae job in the first place. In the House of Representatives, Fannie Mae had few stauncher … Continue reading

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How Do You Like Obama’s $20 billion mortgage shakedown?

The Obama administration wants to force banks to pony up $20 billion that Obama and the Democrats can dispense to home owners with equity and others who’ve made bad decisions. It is an attempt to buy a second term for … Continue reading

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Elizabeth Warren’s Role In Mortgage Talks

Elizabeth Warren is an academic socialist who wants the government to oversee corporate America to ensure that it plays by leftist rules of inclusivity and concern for minorities and the poor. The WSJ reports: The back-and-forth between White House adviser … Continue reading

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Shoddy Foreclosure Practices

So lenders have not been perfect in the way they have processed mortgage foreclosures. Very few people have been dispossessed of their homes who were making their mortgage payments on time. These paperwork problems are just another opportunity for the … Continue reading

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Obama’s Foreclosure Settlement With Banks Called A Shakedown

Republicans don’t like how the Obama administration is threatening businesses into making deals with it. Here’s a press release: Sen. Richard Shelby of Alabama, the ranking Republican member of the Senate Banking Committee, calls the proposed $20 billion mortgage settlement … Continue reading

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House Republicans Seek To Kill Obama’s Mortgage Plan

Conservatives in the U.S. House of Representatives want to kill many of Obama’s fanciful ideas, including his HARP program for mortgage relief. The freer the market for housing, the quicker that sector will recover. Liberals want more government intervention. They … Continue reading

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Should The Government Provide More Mortgage Relief?

When you ask the government to intervene in the mortgage market to bail out people who bought more home than they could afford, you are reducing moral hazard (the price people pay for bad decisions). You make the free market … Continue reading

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