Tag Archives: home loan mortgage corp

A Timeline For Our Economic Meltdown

Report: According to news reports around the U.S., our economy’s downward spiral seems to have begun with U.S. subprime mortgages. These are home loans made to people who, under normal circumstances, would not be ideal candidates to get a mortgage … Continue reading

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When Subprime Lending Exploded

Report: Fannie, the Federal National Mortgage Association, and Freddie, the Federal Home Loan Mortgage Corp., don’t lend money, to minorities or anyone else, however. They purchase loans from the private lenders who actually underwrite the loans. Between 2004 and 2006, … Continue reading

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There’s No One Cause For Our Financial Meltdown

Report: In the second presidential debate on Oct. 7, 2008, Sens. John McCain and Barack Obama laid out their explanations of the root causes of the financial crisis. Here’s the McCain version: “One of the real catalysts, really the match … Continue reading

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The History Of Fannie Mae

Report: Today’s subject is complicated, if not boring. Because my mailbox has been inundated with questions regarding the Fannie Mae and Freddie Mac debacle, I will address the subject as I understand it in the simplest of terms. There are … Continue reading

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Taxpayers Swindled

John Wallace writes: In 1938, the Federal National Mortgage Association (Fannie Mae) was created to help Americans get mortgages. Although Fannie Mae was established as a private company with shareholders and was supposed to make a profit, the American taxpayers … Continue reading

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How To Get That Lower Interest Rate

From AL.com: Experts give tips on when to go for that lower rate If you have an adjustable rate mortgage, you understand those ARMs everyone keeps talking about have an interest rate that spikes after a few years. If that’s … Continue reading

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Mortgage Rates Drop Sharply

From Biz Journals: Rates on 30-year mortgages dropped sharply again this week, falling to the lowest level in seven months. On Thursday, Freddie Mac’s nationwide survey found that 30-year, fixed-rate mortgages had declined to 5.78 percent from 5.93 percent the … Continue reading

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It’s Tougher To Get Private Mortgage Insurance

From the Wall Street Journal: Mortgage insurers have been dramatically tightening their standards throughout the nation, further squeezing potential home buyers. Stung by growing defaults, lenders are offering borrowers fewer ways to avoid purchasing private mortgage insurance. The insurers face … Continue reading

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You Can Still Find Mortgages For No Money Down

From UPI: U.S. homeowners can still find no-money down loans, two trend-setting mortgage companies said. Although home prices have fallen 9 percent from their peak, the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp., as federally backed … Continue reading

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Refinancing Jumbo Loans

From the Washington Times: Last week I reported that the rates on the so-called "agency jumbo" loans were dropping. Congress recently passed legislation allowing Fannie Mae and the Federal Home Loan Mortgage Corp. (Freddie Mac), the two government-chartered entities that … Continue reading

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