Tag Archives: national community reinvestment coalition

The Federal Reserve Pushes Mortgage Interest Rates Lower

The Federal Reserve under Ben Bernanke is doing everything it can to prevent America from falling into another recession. It is lowering interest rates and prompting a mini flood of refinance applications. How much will this help the housing market? … Continue reading

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Will Forcing Banks To Keep A Skin In The Game Limit Home Ownership?

Many experts on both sides of the spectrum agree that a major reason for the housing crash is that many of those initiating mortgage loans had no incentive for seeing that such mortgage loans were paid back. Initiators of mortgage … Continue reading

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Racial Bias In Lending?

Great. We have another one of those phony racial bias in lending probes. Why would banks object to receiving monthly mortgage payments from blacks or browns or yellows or reds or pinks or homos or Jews or Chinese? They would … Continue reading

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Government Forcing Banks To Lend

We got into this housing crisis, in part, because government regulation and political pressure forced banks to lend money to people with low chances of paying it back. If banks didn’t make these loans, they were picketed and their expansion … Continue reading

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Will Homeowners Benefit From The Bank Bailout?

Will the US Federal Reserve and Treasury Department do something to stem foreclosures? Congress wants them to. But what can be done? Why should people who bought more house than they could afford get subsidized? Why subsidize bad decisions? You’ll … Continue reading

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Foreclosures At Record Highs

From the New York Times: In a move that provides relief to thousands of renters who face eviction but draws the federal government even deeper into the housing market, the loan giant Fannie Mae said Sunday that it would sign … Continue reading

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What Can The U.S. Treasury Do About Toxic Mortgages?

The Washington Post lauds a new proposal from the FDIC. The Treasury is helping banks. What will the taxpayer get in return? That’s what the politicians want to know. They don’t want the bailout money hoarded by banks but lent … Continue reading

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Boosting The Mortgage Market

Report: Rolled out by the Department of Housing and Urban Development, the program will help homeowners refinance their mortgages through a more affordable government-back mortgage. The program is part of the housing rescue bill passed in summer which insured $300 … Continue reading

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Refinance Resets This Summer

Subprime lending hit a peak in the summers of 2005 and 2006. Now it is time for those teaser rates to go away and real rates to kick in a few points higher. From the Washington Post: Resets are "still … Continue reading

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