Tag Archives: cnn

FHA Needs A Bailout, Raising Mortgage Premiums

So far taxpayers have been on the hook for only a couple of billion dollars for the FHA. Mortgage insurance is a rotten business. It almost took down AIG. Only a massive $100 billion from the government (now repaid) kept … Continue reading

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Can The Federal Reserve Push Banks To Lend?

Mortgage lending has declined sharply in 2011. Mortgage lending will remain low as long there is little appetite among investors to buy mortgage-backed securities. That market is still a whimper of its former self (prior to the crash of 2008). … Continue reading

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JP Morgan Chase Agrees To Settle Mortgage Case

These settlements are common on Wall Street. The bank pays over millions of dollars but admits no wrongdoing. Nobody goes to jail. The SEC gets to crow that it was right and that it is protecting investors. CNN reports: JPMorgan … Continue reading

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Worst States For Mortgage Fraud

WASHINGTON (CNN) — FBI officials Tuesday disclosed complaints of mortgage fraud are piling up at record levels this year, and appear certain to shatter last year’s record. Integrity needed: In a speech in April to the American Bar Association, Mueller … Continue reading

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Refinance Fraud

The FBI says there will be more complaints about mortgage fraud this year than ever before. Last year was a record. This year will be worse. As housing prices drop, more people will get desperate and complain or try something … Continue reading

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Should The United States Government Insure Mortgages?

How would such a program work? Isn’t that what Barney Frank’s bill would do? Will the average home owner be able to understand the fine print? What does it mean when a borrower is underwater? That he owes more on … Continue reading

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Who’s To Blame For The Mortgage Mess?

According to CNN, Sen. John McCain Tuesday blamed "rampant" speculation and "complacent" lenders for the current mortgage crisis. In his speech Tuesday, McCain said: "Lenders ended up violating the basic rule of banking: Don’t lend people money who can’t pay … Continue reading

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What Do You Want To Know About Home Insurance?

Here’s a complete and thorough rundown from CNN Money: 1. You’re a statistic. To an insurer, you’re not a person; you’re a set of risks. An insurer bases its premium (or its decision to insure you at all) on your … Continue reading

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