Mortgages

Ford: The Mother of All Subprime Mortgages

Fool.com (Free subscription) | yesterday

They had a great-looking quarter, but deeper problems remain.

First Niagara: A bank sector survivor

BloggingStocks (Free subscription) | yesterday

Filed under: Stocks to Buy One new rule of the post-financial crisis era is that bank 'bigness' does not reduce the risk of a bank stock investment. In fact, the opposite may be true, which is why I'm I'm Reiterating my Buy rating for First Niagara Financial Group ( FNFG ), first recommended on April 27, 2009 at a price of $13.55. First Niagara's stock has continued to meander since the spring Buy...

Dodd unveils bank reform bill without GOP support

Market Watch (Free subscription) | yesterday

WASHINGTON (MarketWatch) -- Senate Banking Committee Chairman Christopher Dodd unveiled Tuesday a long-anticipated package of bank-reform measures, legislation designed to shore up deficiencies that came to light in the aftermath of the 2008 financial crisis. Running 1,136 pages long, the bill includes provisions to create a consolidated bank regulator, limit the fallout if a bank deemed "too...

Edward Pinto: How Did Paul Krugman Get It So Wrong About Fannie And Freddy?

The Business Insider (Free subscription) | 11/09/2009

Former Fannie Mae (FNM) credit officer and mortgage expert Edward Pinto's latest piece delves further into the lending standards at Fannie and Freddie (FRE), and how in 2008, it still seemed plausible that they would be okay. Pinto How Did Paul Krugman Get It So Wrong 11.9.09 Join the conversation about this story » See Also: Edward Pinto: Ending The FHA's Continuing Nightmare Of Foreclosures...

Washington's Problem Is Poor Economic Solutions

SeekingAlpha.com (Free subscription) | 11/09/2009

The Fed observes the banking system has a deleveraging problem. So what does it do? It increases liquidity. Deleveraging and liquidity don’t really cancel each other out. In fact liquidity creates the leveraging problems that later call for deleveraging. Another example. The Fed wants to lower mortgage rates. Instead of opening a window and making mortgage loans available at low rates to help...

U.S. Treasury rejects Fannie Mae tax-credit sale

Market Watch (Free subscription) | 11/07/2009

The U.S. Treasury blocks the proposed sale of low-income housing tax credits held by embattled mortgage lender Fannie Mae because officials have determined that the transaction would be too costly to taxpayers, according to media reports.

Freddie Mac loses $6.3B but says it doesn't need more federal cash

USA Today (Free subscription) | 11/07/2009

Freddie Mac's losses narrowed to $6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't ...

Wells Fargo (WFC) Kicks The Can By Transofrming Option ARM Mortgages Into Interest Only

iStockAnalyst.com (Free subscription) | 11/06/2009

If you are not familiar with what an option ARM mortgage is, read this piece (Aug 13, 2008: Option ARMs- Who Thought Up these Time Bombs')). I too was unfamiliar with it, despite following markets closely, until I read a BusinessWeek article in October 2006. Interest only mortgages? Yep I knew about those. [More...]

• Wells Fargo (WFC) Kicks the Can by Transofrming Option ARM Mortgages into Interest Only - GuruFocus Updates
• Wells Fargo (WFC) Kicks the Can by Transofrming Option ARM Mortgages into Interest Only - Fund my Mutual Fund

Fannie Mae will rent to owners in foreclosure

BloggingStocks (Free subscription) | 11/06/2009

Filed under: Launches , Management , Personal finance , Housing , Recession Fannie Mae (NYSE: FNM ) has initiated a new Deed to Lease program in which homeowners facing foreclosure will be able to stay in their homes as renters. During the first half of the year, Fannie Mae has acquired 57,000 homes through foreclosure. These are owners who do not qualify for mortgage restructuring. They must demonstrate...

Mortgage Rate Falls Below 5%

Law Blog - WSJ.com (Free subscription) | 11/06/2009

Home-mortgage rates fell this week, with the average rate on 30-year fixed-rate mortgages retreating back below the psychologically significant 5% level.

Fannie Mae asks for $15 billion more from feds

Market Watch (Free subscription) | 11/06/2009

Embattled mortgage lender Fannie Mae asks the U.S. Treasury Department for an additional $15 billion in assistance by the end of the year.

Personal Finance Daily: The pain of renting a home you once owned

Market Watch (Free subscription) | 11/05/2009

The home-buyer tax credit was expanded and extended today, and mortgage rates on 30-year fixed-rate mortgages dropped below 5% on average for the week. That's all great news for prospective home buyers, but not much help to people who are currently struggling to pay their mortgage.

Mortgages: 30-year fixed-rate mortgage below 5%: Freddie Mac

Market Watch (Free subscription) | 11/05/2009

Rates on 30-year fixed-rate mortgages average 4.98% for the week ending Nov. 5, down from 5.03% the previous week, says Freddie Mac’s weekly survey.

Rates on 30-year fixed-rate mortgages below 5%

Market Watch (Free subscription) | 11/05/2009

CHICAGO (MarketWatch) -- Rates on 30-year fixed-rate mortgages averaged 4.98% for the week ending Nov. 5, down from a 5.03% average last week and 6.20% a year ago, according to Freddie Mac's [S:FRE] weekly survey of conforming mortgage rates, released on Thursday. The 15-year fixed-rate mortgage averaged 4.40%, down from 4.46% last week. Rates on 5-year Treasury-indexed hybrid adjustable-rate mortgages...

Homeowners Faced With Foreclosure Can Rent Their Own Homes

24/7 Wall St. (Free subscription) | 11/05/2009

The government’s many programs to keep the number of mortgage defaults from growing has grown by one. The new Dead for Lease program will allow some homeowners who face foreclosure to turn their homes over to Fannie Mae (NYSE:FNM) then rent them for a year with month-to-month extensions. It is not predictable what the level of fraud [...]

Plan Orange: The Mortgage Crisis Killed Quickly

paisano1 | 02/04/2009

By Guest Author Michael White We cannot start our recovery until we have completed our bankruptcy. Go ahead now and do the denial, anger, bargaining, and depression. Open the window and scream. Then put the fate of the world ahead of the obvious reasons we shouldn’t do this. Yes, we will reward a carnival of bad behavior and make people believe they can get away with it. Should we chose massive global

Colorado Foreclosure Law Summary

mitigationonline | 01/30/2009

The prospect of a can be daunting and painful, it is crucial to be made aware of your state’s laws and guidelines to best serve your interests, regardless of whether or not you wish to remain in your home. Following is a list of information for those who live in Colorado; other states can be researched on our website as well, http://www.mitigationonlineconsultants.com . Quick Reference guide for Colorado:...

Stop Foreclosure And Save Your Home

pmorrisson | 01/28/2009

How refinancing can help stop a foreclosure Refinancing could help improve a bad credit rating if you handle the money wisely. Refinancing is attractive because it usually has a lower annual percentage rate (APR) than other forms of credit. Refinanci...