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.
Read the rest of this entry »
President George Bush is expected to announce tomorrow plans that will help borrowers struggling to pay their mortgage payments.
Read the rest of this entry »
Treasury Secretary Henry Paulson announced today that he is confident that there will soon be an agreement that will help homeowners avoid mortgage default by extending the fixed period on adjustable rate mortgages.
Read the rest of this entry »
James Lockhart, the Office of Federal Housing Enterprise Oversite director said in a statement today that “While the house price survey data used in determining the conforming limit shows a decline over the past year.. the level will remain at $417,000 for the third straight year.”
Read the rest of this entry »
During a meeting today about the housing market Treasury Secretary Henry Paulson warned that the housing correction will continue to hurt the US economy and financial markets for some time. He also asked for assistance from public private partnerships to address the issues in the mortgage industry that brought on this credit crisis.
Read the rest of this entry »
The Bush administration announced today a new mortgage industry coalition aimed at helping homeowners avoid foreclosure. This coalition dubbed “Hope Now” is designed to help an estimated 2 million homeowners whose adjustable rate mortgages are now resetting at much higher rates.
Read the rest of this entry »
Richard Syron, Freddie Mac CEO, told CNBC today that the home-loan provider needs to be able to invest in jumbo loans for the next two years to help release some of the stress of the subprime crisis. Read the rest of this entry »