Tag Archives: mortgage meltdown

Fannie, Freddie Close To Admitting Their Role In Mortgage Meltdown

Fannie Mae and Freddie Mac are about to settle with the SEC over claims the mortgage giants did not adequately reveal their vulnerabilities to subprime mortgages. What is ironic is that the SEC has charged Fannie and Freddie with what … Continue reading

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Obama Desires Big Role For Government In Mortgages

Until I read this article in yesterday’s Washington Post, I thought all sides were agreed that the federal government needed to reduce its role in the mortgage market. Fannie Mae and Freddie Mac have so far cost taxpayers $166 billion … Continue reading

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The Tab Keeps Rising For Funding Fannie Mae, Freddie Mac

Under Bill Clinton, Fannie Mae and Freddie Mac began guaranteeing subprime mortgage loans to subprime minority borrowers. The mortgage meltdown was not the result of a lack of government regulation. It was the direct result of government regulation, regulation that … Continue reading

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What Was The Role Of Banks In The Mortgage Meltdown?

The banks were patsies. They were suckers. They went along without much protest to the manipulation of politicians forcing lenders to lower their lending standards to “help” blacks and latinos buy homes despite bad credit. Well, those credit risky types … Continue reading

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Politicians Eager To Find Wall Street Responsible For The Housing Crash

Politicians are not as eager to investigate their own interventions into the free market, destroying what had been the most reliable investment around — mortgages. The New York Post reports: Several high-profile investigations, including one by New York State Attorney … Continue reading

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New Rules For Mortgage Brokers

No matter how many new rules legislators and regulators pass, the mortgage business will still be operated in a confusing and obfuscating manner because that’s where the profits are — getting people to sign things that they do not understand. … Continue reading

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The Boom In Cash-In Refinancing

Perhaps you have heard of cash-out refinancing where borrowers take cash and equity out of their homes. Due to historically low interest rates, there is now a boom in cash-in refinancing where borrowers bring cash to their refinance deals to … Continue reading

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You May Need To Document Your Finances

President Barack Obama’s administration likes to use bureaucratic rules and paperwork to determine much of the economy rather than the free-wheeling free market system. One example of this is the new requirement to document your finances to modify your mortgage … Continue reading

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Federal Housing Administration Needs $50 Billion Bailout

How long will we keep bailing out individuals and companies and government agencies that made stupid decisions? It seems inevitable that Congress will be asked to approve this bailout in the next three years. Over the past year, the federal … Continue reading

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Who Is To Blame For The Mortgage Meltdown

Howard Marks is chairman of Oaktree Capital Management. He writes in the New York Times that everybody is to blame. He writes that we put too much trust in the free market. That we did not adequately regulate derivatives, which … Continue reading

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