Tag Archives: freddie mac

Blaming The Big Banks For The Housing Crash

Politicians want to blame the big banks and Wall Street for our recession and housing crash. They want to bleed the banks and make the big moneymen pay up to government and then distribute these payoffs to the politically connected. … Continue reading

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Will Obama’s Refi Plan Boost Economy?

Here’s a highly cited WSJ article analyzing the implications of the economy of the Obama refinance program. The boost to the economy will be small. Just as the Obama job program is unlikely to boost the demand for workers in … Continue reading

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Will The Federal Government Make A Good Landlord?

With hundreds of thousands of Americans defaulting on their mortgages, there’s been increased demand for rentals. So while home prices are going down for the past four years, rent is going up. Fannie Mae and Freddie Mac have thousands of … Continue reading

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How Do You Refinance A Mortgage On An Underwater Home?

Why would any bank refinance a mortgage on an underwater home? It makes no sense. But Senator Barbara Boxer has found a Republican to cosponsor legislation to do just that. Economist Mark Zandi supports the proposal. Banks are going to … Continue reading

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How To Slash Your Mortgage Debt

* You can charge people to store stuff in your garage, such as a car or a boat. * Use your tax refund or pay bonus to pay down your mortgage. * If you earn the same or less on … Continue reading

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More Trouble For Fannie Mae, Freddie Mac

Now they’re getting sued for unpaid taxes. Fannie and Freddie are struggling under the burden of tens of thousands of repossessed homes. They’re overwhelmed. They’re losing, on average, about $40,000 per home. Daily Tribune reports: Suing mortgage giants Fannie Mae … Continue reading

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Three Options For Reforming Mortgage Finance

What to do about Fannie Mae and Freddie Mac is still a major topic of discussion and negotiation in Washington D.C. Options are still being considered. The Obama administration is working with Congress. We don’t know yet which reform option … Continue reading

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Have You Heard About The 5 Percent Retention Rule?

Bankers are warning of bankruptcy if this new law is enforced. What’s going on here? One of the major reasons for the housing crash was that people selling mortgage loans had little incentive to see that such loans were repaid … Continue reading

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Mortgage Rates Hit Five-Month Low

This won’t make much difference for most people who want to buy a home unless they have stellar credit, secure income and at least a 20% down payment. The AP says: RATES HIT YEARLY LOWS: Freddie Mac said the average … Continue reading

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Winding Down Fannie Mae, Freddie Mac

The government is reducing the amount of mortgage loans it will guarantee effective October 1st, so there’s a rush by buyers to get an expensive property before the deadline goes into effect. This is a rare bit of good news … Continue reading

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