7 Articles match "Credit","New York","Points"

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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
  
  Clinton also wants the government to impose new disclosure requirements on mortgage brokers and curb their ability to dictate lending terms. “We need to act now with smart, practical solutions to strengthen our housing and mortgage markets,” Clinton told The Associated Press. “We That does not require statutory language or new laws.” Dodd also pointed out that many brokers give clients the false impression they’re working on their behalf. “Brokers 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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• Rate Cut, Real GDP Are Some Positive News
  
  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. 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 percent the Fed started with when it cut the first 50 basis points off in Sept.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Fed, World's Banks Pull Off Global Rate Reduction
  
  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 At the same time the FOMC decided to take the opportunity to move its discount rate down 50 basis points as well to 1.75 Moreover, the intensification of financial market turmoil is likely to exert additional restraint on spending, partly by further reducing the ability of households 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.
  www.foreclosurepulse.com - Thursday, December 18, 2008
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• High-End Foreclosures Rising Among Top Tier Homes
  
  High-End Foreclosures Rising Among Top Tier Homes By Octavio Nuiry, RealtyTrac Staff Writer    Until now, the foreclosure crisis was confined to a narrow niche of middle-class urban communities and outer-rim new housing developments where first-time homeowners and real estate speculators benefited briefly from favorable financing. But increasingly there are signs that the foreclosure problem is spilling over into wealthier areas, where prime borrowers — and even high-end real estate developers — are rapidly falling behind on their construction
  www.realtytrac.com - Tuesday, February 3, 2009
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• No Mortgage Meltdown For These Banks
  
  Unlike virtually every other mortgage lender, Hudson doesn’t make option ARMs, doesn’t sell loans in the secondary market and doesn’t offer credit cards. told me, Hudson is really a “spread lender” that’s interested in two things: efficiency and credit quality. 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 No Mortgage Meltdown For These Banks By Peter G. Miller     The news from Wall Street in
  www.realtytrac.com - Tuesday, February 3, 2009
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• Long-Term Solution for Fannie and Freddie Dilemma
  
  billion direct line of credit with the U.S. The huge problems at Fannie Mae and Freddie Mac were supposed to be resolved with new management and revamped accounting, but no resolution could revolve a basic issue: Private mortgage buyers are always at a disadvantage when competing against Fannie Mae and Freddie Mac. If you believe in free markets and fair competition, the GSEs are a poke in the eye. "As long as Fannie and Freddies debt is backed by the full faith and credit of the U.S. Long-Term Solution for Fannie and Freddie Dilemma By Peter G. Miller 
  www.realtytrac.com - Tuesday, February 3, 2009
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