Tag Archives: prime mortgages

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

Posted in fannie mae, freddie mac, mortgage | Tagged , , , , , , , , | Comments Off on Blaming The Big Banks For The Housing Crash

Good Luck To Uncle Sam In Collecting From 17 Banks

The United States is suing 17 major banks over mortgage bonds they sold to Fannie Mae and Freddie Mac. The US claims that the banks sold fraudulent bonds. That the banks knew that the mortgages backing up the bonds were … Continue reading

Posted in Banks, fannie mae, freddie mac, mortgage, Politics | Tagged , , , , , | Comments Off on Good Luck To Uncle Sam In Collecting From 17 Banks

FHA Sues 131 Individuals For Bad Mortgage Debt

The FHA wants to hold individuals responsible for the global economic crash. Politicians? Nope! People in the finance industry who were played for suckers in the mortgage game. Wall Street played the role of suckers in the mortgage game because … Continue reading

Posted in Banks, mortgage, Politics | Tagged , , , , , | Comments Off on FHA Sues 131 Individuals For Bad Mortgage Debt

U.S. Justice Department Goes After Ratings Agency S&P

It sure looks like payback for S&P’s downgrade rating on U.S. debt. Justice is looking at S&P’s ratings from 2006 and 2007 on various mortgage securities. Did S&P expect to make more money by giving positive ratings on these securities, … Continue reading

Posted in mortgage | Tagged , , , , , | Comments Off on U.S. Justice Department Goes After Ratings Agency S&P

There Was No Housing Recovery

The WSJ has a great interview with Scott Simon, who helped his firm avoid losses in the great financial crash of 2008. He predicts that if government steps away too quickly from subsidizing the housing market, it could crash further. … Continue reading

Posted in Foreclosure, mortgage, Politics | Tagged , , , , , | Comments Off on There Was No Housing Recovery

Fannie Mae, Freddie Mac Are Unlikely To Be Privatized

Though they have been bailed out to the tune of $140 billion, lawmakers are unlikely to privatize Freddie Mae and Fannie Mac. They underwrite about 90% of conforming home mortgages. You think the housing market is bad now? Well, sales … Continue reading

Posted in Banks, fannie mae, freddie mac, mortgage, Politics | Tagged , , , , , | Comments Off on Fannie Mae, Freddie Mac Are Unlikely To Be Privatized

JP Morgan Stops Foreclosures

Prime mortgages are at issue, particularly those with option ARMs. We’re due for a vast increase in foreclosures as option ARMs roll into much higher rates. JP Morgan owns $325 billion worth of mortgages, of which $250 billion of that … Continue reading

Posted in Banks, Foreclosure, wall street | Tagged , , , , , | Comments Off on JP Morgan Stops Foreclosures

New Rules On Mortgage Rate Disclosure

WASHINGTON, Oct 20 (Reuters) – The Federal Reserve Board on Monday approved final rules that require mortgage lenders to notify borrowers of the interest rate difference between between higher priced mortgage loans and comparable prime mortgages in many cases. The … Continue reading

Posted in Rates | Tagged , , , , , | Comments Off on New Rules On Mortgage Rate Disclosure

Mortgage Glossary

From DallasNews.com: Prime mortgage: A real estate loan in which the borrower meets the underwriting standards set by federal home loan agencies Fannie Mae and Freddie Mac. Fannie and Freddie buy mortgages from lenders to sell as bundled mortgage bonds, … Continue reading

Posted in mortgage | Tagged , , , , , | Comments Off on Mortgage Glossary

How To Destroy The Economy

Report: Low interest rates make borrowed money cheap for everyone from homebuyers to banks. Low interest rates also meant that homebuyers could take on larger mortgages, which supported rising prices. In the originate-to-own model, the mortgage lender — which can … Continue reading

Posted in Politics | Tagged , , , , , | Comments Off on How To Destroy The Economy