Tag Archives: reuters reports

The Booming Business Of Online Mortgages

The housing market and the mortgage market are in a downturn. This has gone on for five years and there’s no relief in sight. There’s never been anything like it since the Great Depression. Our economy is in its worst … 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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New York AG Off States AG Mortgage Investigation

Eric T. Schneiderman is New York’s Attorney General. He has been removed from a states AG investigation of robosigning (abuse by banks in filing for foreclosure). Eric T. Schneiderman is not amenable to what is shaping up as a settlement … Continue reading

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Cutting The Mortgage Interest Deduction To Reduce The Federal Government Debt

Among the proposals to raise tax revenues is the elimination of the mortgage interest deduction. On the face of it, this deduction seems unfair. Interest rates on student loans or credit cards or car loans are not deductible. What’s so … Continue reading

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MERS Reduces Its Role In Mortgages

MERS has come under a lot of criticism the past two years as banks have foreclosed on tens of thousands of homes when the exact ownership of those homes is not clear. Who owns a mortgage after it has been … Continue reading

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Reducing Mortgage Principle For A Million Borrowers

Let’s bail people out from their bad decisions! You’ve heard of predatory loans? Yeah, all those millions who took out mortgages they could not afford, they were forced to do it at the point of a gun. If not, those … Continue reading

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Housing Starts Suffer Biggest Drop Since 1984

We had high interest rates back in 1984, more than ten points higher than today’s interest rates. Yet few people want to construct new housing because of the massive oversupply across America. Reuters reports: Housing starts posted their biggest decline … 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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Mortgage And Credit Card Industries Can Expect More Regulation

Mortgage lenders have incentives to be obscure. If it was easy to shop for and to secure a mortgage loans with all the details spelled out explicitly, easily and clearly, then lenders would make less profit. Reuters reports: Discover Financial … Continue reading

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Banks In Trouble Over Their Foreclosure Process

The U.S. government regulators are investigating the major lenders for their foreclosure operations. They are close to taking action to penalize banks. Mortgage servicers are accused of breaking the law. These attacks on banks should be popular with much of … Continue reading

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