Tag Archives: moderate income households

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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Housing Costs Increase

From the AP: Traditionally, the government and most lenders consider a homeowner spending 30 percent or more of their income on housing costs to be financially burdened. But that definition now covers almost 38 percent of American homeowners with a … Continue reading

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The FHA Implodes

From the WSJ: A bill passed by the House and now being debated on the Senate floor would expand the FHA portfolio to about 1.5 million mostly high-risk subprime mortgages. So at the very time private lenders and investors are … Continue reading

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