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14 Articles match "2008","Federal","New York"
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The Latest from RealtyTrac
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Don't Dump Investors
Blinder, a professor of economics and public affairs at Princeton University and a former vice chairman of the Federal Reserve, could not be more clear: He suggests that the government should develop a federal program to buy out mortgages from lenders, just as it did during the Depression — to “refinance only owner-occupied residences. See: From the New Deal, a Way Out of a Mess, The New York Times, Feb. Don’t Dump Investors By Peter G. Miller When it comes to bailing out giant banks, huge companies and massive
www.realtytrac.com
- Tuesday, February 3, 2009
No Mortgage Meltdown For These Banks
Hudson has deposits of $49 billion, a network of 125 branches in New Jersey, New York and Connecticut and just 1,350 employees — a fraction of the workforce one would find with banks of similar size. As one example, Hermance says that of 50,000 New Jersey mortgages his bank bought back just two properties during a recent 12-month period. As Hermance No Mortgage Meltdown For These Banks By Peter G. Miller The news from Wall Street in recent weeks has not been good, especially in the world of mortgages.
www.realtytrac.com
- Tuesday, February 3, 2009
Long-Term Solution for Fannie and Freddie Dilemma
Share values have dropped more 90 percent, investors have lost more than $100 billion, and both companies were rescued by the federal government earlier this month, placed in a government conservatorship run by the newly created Federal Housing Finance Agency. They are profit-seeking "companies" in the sense of shareholders and being in business but they are also GSEs -- government-sponsored enterprises, companies started by the federal government and companies endowed with huge competitive advantages: They do not pay state income taxes, they each have a $2.25 Long-Term Solution for Fannie and Freddie Dilemma By Peter G.
www.realtytrac.com
- Tuesday, February 3, 2009
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Freddie and Fannie Spurn New York Subprime Loans
Battle lines are being drawn in New York’s real estate market, pitting Freddie Mac and Fannie Mae against subprime lenders in New York. Last week, New York Governor David A. Under the new law, investors, including loan buyers like Freddie Mac and Fannie Mae, are held liable for mortgage fraud. Patterson signed into law a subprime lending reform bill (S.8143-A/A.10817-A), creating stringent lending guidelines for subprime lenders. It also lays out requirements for brokers to act in borrowers’ best interests, and mandates all local mortgage
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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RealtyTrac VP Speaking at USFN Seminar
If you’re attending the annual 2008 USFN National Default Servicing Seminar in Texas this week, you can catch RealtyTrac Vice President of Marketing Rick Sharga speaking on the latest foreclosure legislation at a 9 a.m. rdquo; Foreclosure activity increased 112 percent in the first quarter of 2008, according to the RealtyTrac U.S. Foreclosure panel discussion titled “In the News: Current Issues Affecting the Default Servicing Industry.” rdquo; “The housing slump — accompanied by a surge in foreclosures — in the midst of a presidential election
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Appreciation Rates Foreshadow Foreclosures
Third-quarter house price appreciation figures released last week by the Office of Federal Housing Enterprise Oversight provide more evidence of a cooling real estate market and further foreshadowing of a continued rise in foreclosures — all pointing to more opportunities for real estate investors to buy low. New York and New Hampshire home prices also declined on a quarterly basis. Posted 12-08-2006 7:38 AM by darenb Filed under: Foreclosure Trends , Real Estate Trend The OFHEO report shows national house prices rose 7.73
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Rate Cut, Real GDP Are Some Positive News
In the first, and the more closely watched of the two, the Federal Reserve took a much anticipated move to lessen the pressure on the nation’s economy by lowering the federal funds rate another 25 basis points to 2 percent (that’s a long way down from the 5.25 General weakness in the economy was citied by the Federal Market Open Committee as the primary reason for this latest cut. One day after President Bush pointed the finger at Congress and told the American public to blame lawmakers for all of their recent financial woes, an inkling of actual positive news came out of Washington Wednesday with two announcements from government agencies.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Fed's Latest Moves No Real Surprise
Financial analysts who were hoping for some downward movement on interest rates yesterday by the Federal Reserve were disappointed as Ben Bernanke and his merry band unanimously voted to do nothing. Following what is now a familiar and conservative wait-and-see strategy towards the nation’s economy, and reactionary as usual, Bernanke and the Federal Open Market Committee left their short-term federal funds rate at 2 percent. Later in the day the Fed made what had to be a highly anticipated move by the nation’s financial gurus, deciding to bailout AIG at the 11th hour before the world’s largest insurance company went bankrupt.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Subprime Market Sinking Further Into the Abyss
The latest victim of its own success is New Century Financial Inc. based lender announced that it was the subject of a federal investigation into charges of accounting errors and stock trading, according to a Reuters report published Monday. As a result, the lender’s stock on the New York Stock Exchange (Symbol = NEW) plummeted almost 70 percent. The latest developments in the subprime lending market should have the entire real estate industry up in arms (figuratively and literally). The problem has gone far beyond the $1 trillion worth of so-called “exotic”
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Back to Wait and See for the Fed
The Federal Open Market Committee took the advice Wednesday of all the financial analysts and market watchers and did absolutely nothing with the short term Federal Funds Rate (FFR). After whittling away at the rate over time from a high of 5.25 Fisher, president and CEO of the Federal Reserve Bank of Dallas, who preferred that the Committee not wait and raise the FFR at this meeting. percent back in August 2007 down to 2 percent last month, the Fed has decided to go back to the wait-and-see stance Chairman Ben Bernanke established when he first took over the reins of the agency back in August 2006.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Bush Mortgage Freeze Could Expand to Prime Loans
It seems like Treasury Secretary Henry Paulson has been spending the new year defending his boss’ “Hope Now” plan to ease the pain of foreclosure and to give the U.S. So far this week Paulson made a speech in New York on Monday defending the president’s Hope Now alliance which has been together a mere three months. In the process the secretary justified the need for the industry coalition, while calling economy the boost it needs to sustain itself. Then, appearing on CNBC Tuesday, the secretary revealed that the Bush Administration is exploring the possibility of expanding
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Foreclosure "Megatrends"
In a presidential year, Uncle Sam and politicians nationwide are rushing to unveil new and bolder schemes to unravel the foreclosure crisis. As federal, state and local government weighs in of the rising foreclosure mess, look for new plans to halt the foreclosure train wreck. Increasingly, homeowners who put little or no money down are walking away from their homes, mailing their keys — jingle mail — to lenders who gave them toxic Foreclosures are rising. Home prices are falling.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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As Foreclosures Mount, Candidates React to the Credit Crisis
With mortgage foreclosures at historic highs, Democrats and Republicans are fighting over a political issue that could have major implications in the 2008 presidential campaign. Yearning to retake the GOP-controlled White House next year, the Democrats are clamoring for the federal government to do something, anything, to contain the crisis. Meanwhile, the rising flood of foreclosures promises to Sensing an opportunity to win votes, the major presidential candidates have come out swinging; proposing a variety of prescriptions to ease the worsening housing slump.Both the White House and Democrat leaders in Congress agree that something must be done to stop the foreclosures.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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