The House Passes Tax Relief for Homeowners
Today the House passed on a legislation that will help homeowners that have to restructure their mortgages to avoid foreclosure.
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Archive for December, 2007
Federal Reserve Endorses New Protection Plan for Homeowners
Today the Federal Reserve announced that they would endorse new rules that will give people taking out home mortgages protection against shady lending practices.
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Posted by Ryan Fiore on Dec 18 2007 under Adjustable-Rate Mortgages, Federal Reserve, Foreclosure, Housing Market
Treasury Secretary Henry Paulson Supports Banks’ Steps on Subprime Debt
Today Treasury Secretary Henry Paulson commended some big banks that have made efforts to bring off balance sheet investments tied to their subprime mortgage loans back onto their books.
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Posted by Ryan Fiore on Dec 17 2007 under Bank of America, Citigroup, Henry Paulson, JPMorgan Chase, Mortgage Lending
FHA Secure Program Helps a Whopping 266 Borrowers
According to government data released today the FHA secure program released by President George W. Bush in August has helped just 266 borrowers since it’s creation.
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H.R. 3915 Mortgage Reform Legislation
I’m writing this post out of the recent disgust that I have for recent policy maker decisions. These decisions are being made for “the benefit” of everyone, when more realistically they are knee jerk reactions by poorly informed politicians looking to make a name for themselves.
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Posted by Ryan Fiore on Dec 14 2007 under Housing Market, Mortgage Lending
Dow Jones Drops 294 Points As Federal Reserve Cuts Rates
As the Federal Reserve cuts its key lending rate for the third time in a row today Wall Street reacts poorly as it was expecting a half point reduction.
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Mortgage Applications at the Highest Level Since July 2005
Despite a jump in borrowing costs US mortgage applications rose last week to the highest level since July 2005.
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Fannie Mae Prepared for 2008
Fannie Mae’s Chief Executive Officer Daniel Mud announced today that they had enough capital to weather a negative housing market through 2008.
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Posted by Ryan Fiore on Dec 11 2007 under Fannie Mae, Housing Market
Wall Street Expects the Federal Reserve to Cut Rates Tomorrow
The Federal Reserve is expected to cut the benchmark funds rate by an estimated .25 percent tomorrow as the credit market has put stress on the economy.
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Posted by Ryan Fiore on Dec 10 2007 under Federal Reserve, Housing Market, Mortgage Lending, Mortgage Rates
Fannie Mae and Freddie Mac Add Surcharge to Mortgages
Fannie Mae and Freddie Mac’s recent announcement shows that the subprime crisis is flowing over into the prime borrower market.
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