All Posts Tagged With: "Federal Reserve"
Why Bernanke Is Wrong On Mortgage-Backed Securities
Oh no, Federal Reserve Chairman Ben Bernanke wants more taxpayer dollars to bailout the upper-class. He doesn’t actually say that, of course, but what else would be the result if the government — us — starts to buy mortgage-backed securities from poor, down-trodden investors who hold billions of dollars in mortgage-backed securities? In basic terms [...]
3Nov2011 | Peter G. Miller | 0 comments | Continued
Who Will Get Help Under Fed Mortgage Review Plan?
Mortgage borrowers with claims against lenders for improper foreclosures may well get some relief under a new plan proposed by several government regulators. The catch: Most distressed borrowers won’t qualify for assistance. “Remediation will be based on documented financial harm stemming from improper foreclosure practices by the servicer,” says one regulator. If a foreclosure activity [...]
2Nov2011 | Peter G. Miller | 0 comments | Continued
America’s Big Banks, America’s Financial Vietnam
Three years ago the most-powerful instutitions in America were the nation’s largest banks and brokerages, Wall Street for short. While millions of people were losing their homes, their jobs and their savings, the nation’s elite extracted a $700 billion line-of-credit from Uncle Sam. Now Wall Street is our financial Vietnam. It’s broken. The old cures [...]
3Oct2011 | Peter G. Miller | 0 comments | Continued
Real Estate Seer: Renting In, Mortgages & Foreclosures Out
In the decades since World War II real estate prices rose with enormous consistency but now the oomph is gone. Most people are better off renting than owning, says Patrick Killelea. For him, and for millions of others, the path to financial security no longer includes real estate ownership, mortgages or the possibility of foreclosure. [...]
15Feb2011 | Peter G. Miller | 10 comments | Continued
Home prices dip, mortgage loan debt falls 2.5% yet households gain $1.2 trillion in new wealth
Despite massive unemployment and falling home prices, Americans have actually become more wealthy. Huh? Are your kidding me? According to the Federal Housing Finance Agency (FHFA), home prices in the third quarter fell by 3.2 percent from a year earlier. At the same time, the Federal Reserve says that in the third quarter America’s personal [...]
14Dec2010 | Caroline H. Tucker | 0 comments | Continued
Mortgage Modifications Threatened by Higher Interest Rates
Mortgage interest rates have spiked during the past two weeks, so is there a need to worry? The news is unsettling because last August the Federal Reserve announced that it would stop purchasing mortgage-backed securities (MBS) in the open market on March 31, 2010. The thought of one less buyer in the marketplace — one [...]
12Apr2010 | Peter G. Miller | 0 comments | Continued
Controversy Brews Over Latest Obama Mortgage Write-Off Plan
The newest effort by the federal government to shore up the flagging housing market is going to set off a fierce debate. The just-announced FHA Refinance Option is likely to keep a lot of homeowners out of foreclosure. This is important because until the “shadow” inventory of distressed and foreclosed homes is reduced in a [...]
29Mar2010 | Peter G. Miller | 0 comments | Continued
Mortgage Qualifying Improved With Credit Card Change
It’s being widely reported that the Bank of America has decided to eliminate overdraft fees for debit cards. This is a mortgage issue, a consumer issue and a common sense issue that should concern anyone who wishes to finance or refinance a home. New rules from the Federal Reserve will make it more difficult for [...]
10Mar2010 | Peter G. Miller | 0 comments | Continued
Why Not Transparency For The Federal Reserve?
It was in July 2008 that IndyMac Bank, F.S.B., was taken over by the Federal Deposit Insurance Corporation (FDIC), the second-largest bank failure in U.S. history according to the Los Angeles Times. The goal of the FDIC was to find a buyer for the bank with as little cost as possible to the FDIC insurance [...]
16Feb2010 | Peter G. Miller | 1 comment | Continued
Mortgages: Can You Stop Line of Credit Freezes?
The Federal Reserve has published a new guide to home equity line of credit financing — and what you can do if your lender reduces or freezes your HELOC. To be polite, not a damn thing. The Board’s 5 Tips for Dealing with a Home Equity Line Freeze or Reduction first tells us the following: [...]
10Aug2009 | Peter G. Miller | 0 comments | Continued
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