Tag Archives: american bankers association

Credit Crunch Ending

Banks are now lending money to people who’ve defaulted on their homes. Loans for people with good credit scores are increasingly easy to obtain. Credit card offers are going out in the mail again. I’ve even received a few. In … 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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There’s No Magical Solution To Mortgage Woes

Home loan modifications are all the rage. Bank of America and JP Morgan are doing it as are banks taken over by the FDIC such as IndyMac. Out of the mess, we’re going to get a new financial system. The … Continue reading

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What Does The Rate Cut Mean?

Report from AP: Q: Why won’t the rate cuts have a more immediate effect? A: Because right now, banks aren’t making very many loans at any rate. Q: What exactly is this rate that was cut? A: The Fed cut … Continue reading

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Government To The Rescue

From Inman News: The U.S. government is attempting to head off a collapse of the financial system by promising to provide “hundreds of billions” of support for financial markets and institutions by purchasing troubled mortgages from banks and other institutions. … Continue reading

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The Home Equity Debt Trap

From the New York Times: “Live Richly.” The advertising campaign, which cost some $1 billion from 2001 to 2006, urged people to lighten up about money and helped persuade hundreds of thousands of Citi customers to take out home equity … Continue reading

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Home Appraisals

The Chicago Tribune reports on a battle in Washington over home appraisal: In March, Fannie Mae, Freddie Mac, their federal regulator and New York Atty. Gen. Andrew M. Cuomo reached an unusual agreement. With it, Cuomo stopped investigating the home … Continue reading

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Lending Industry Fights New Regulations

Many economists blame the lending industry for our credit crisis. They say the industry was lax in its lending standards and lent money at such low interest rates, that real estate values were inflated, leading to the big crash of … Continue reading

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