11 Articles match "Credit","Federal","New York"

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• New York Versus Freddie Mac: Round One
  
  New York Versus Freddie Mac: Round One By Peter G. Miller     It’s fight time in New York. On one side is newly-passed state legislation which sets tough standards for subprime and “high cost” loans and on the other is Freddie Mac, which says it won’t buy such loans in the state after September 1st, the day the new law goes into effect. This is a big deal because if New York lenders can’t sell mortgages to buyers such as Freddie Mac, they simply won’t make such loans. You can guess what happens next:
  www.realtytrac.com - Tuesday, February 3, 2009
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• As Foreclosures Mount, Candidates React to the Credit Crisis
  
  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. Here’s what the major presidential candidates have to say about the growing foreclosure epidemic: Democrats The three main Democratic presidential candidates — Clinton, Obama and Edwards —have made various proposals for modest reform, including setting up a federal fund to help homeowners fend off foreclosure and providing borrowers with counseling, along with laws to ban predatory lending policies. 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.
  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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• 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, World's Banks Pull Off Global Rate Reduction
  
  In an unprecedented move aimed at quelling the mounting tidal wave of unrest affecting the world’s economies and investors, the Federal Reserve, in partnership with other central banks around the world, pulled off a coordinated reduction of short-term interest rates Wednesday. Ben Bernanke and his team at the Federal Open Market Committee took the federal funds rate down another 50 basis points (one-half a percent) to 1.5 Citing the recent intensification of the global financial crisis even while inflationary pressures are starting to moderate somewhat, the Fed, along with the Bank of Canada, the Bank of England, the European Central Bank, Sveriges Riksbank, and the Swiss National Bank, all announced rate reductions.
  www.foreclosurepulse.com - Thursday, December 18, 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. Lawyers in California — for a fee, of course — will show you how to damage your credit history for a decade or more and “walk away” from your debt. Foreclosures are rising. Home prices are falling.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• 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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• 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
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