Bailout is 2008 Word of the Year
Another year, another word of the year tied to the ongoing mortgage crisis. Merriam-Webster unveiled its word of the year for 2008, selecting the term… Read More »Bailout is 2008 Word of the Year
November 2008
Feds to Buy Up Mortgage-Backed Securities
The Federal Reserve announced today that it will launch a program to buy up to $600 billion in mortgage-backed securities and GSE direct obligations to… Read More »Feds to Buy Up Mortgage-Backed Securities
Citigroup Gets Its Bailout
I suppose Citigroup is too big to fail after all… Citi today reached an agreement with the Treasury, Federal Reverse, and FDIC, aimed at strengthening… Read More »Citigroup Gets Its Bailout
Downey Savings Shut Down by FDIC
Downey Savings was shut down late Friday by the FDIC on a busy day where two other banks were also seized. US Bank has agreed… Read More »Downey Savings Shut Down by FDIC
Happy Holidays, We Won’t Foreclose on You, For Now
Both Fannie Mae and Freddie Mac have announced that they will suspend all foreclosure sales and evictions of occupied homes from November 26 until January… Read More »Happy Holidays, We Won’t Foreclose on You, For Now
Hope for Homeowners 2.0
The ill-fated Hope for Homeowners program has seen some of is guidelines eased in the hopes more mortgage lenders will participate to execute loan workouts.… Read More »Hope for Homeowners 2.0
If In Doubt, Raffle Your Home
If you’re falling behind on your mortgage and considering walking away, there’s always the raffle approach. At least, that’s what one struggling mortgage broker has… Read More »If In Doubt, Raffle Your Home
Hovnanian Wants Mortgage Rates Cut to Three Percent
One the leading U.S. homebuilders has called for the government to temporarily cut mortgage rates to make homeownership more affordable and stimulate sales. Ara Hovnanian,… Read More »Hovnanian Wants Mortgage Rates Cut to Three Percent
Is Your Bank About to Fail? Just Check Their CD Yield
If you’re curious if your bank may be on the brink of failure, just take a look at the yields being offered on their CDs.… Read More »Is Your Bank About to Fail? Just Check Their CD Yield
Bair Proposes Modification Program with Government Loss Share
FDIC Chairman Sheila Bair, apparently unmoved by the recent Streamlined Modification Plan announced by the FHFA, has launched her own sweeping loan modification program. In… Read More »Bair Proposes Modification Program with Government Loss Share