4 Articles match "Foreclose","Help","Secondary Market"

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• What's Causing the Credit Crunch?
  
  Many mortgage companies raise cash to keep making new loans by re-selling mortgage debt on the secondary market. But the secondary market for mortgage-backed securities is essentially frozen, meaning that investors are unwilling to buy up mortgage debt at all. The growing turmoil in the credit markets could hurt the earnings and financial conditions of mortgage lenders like Countrywide. A lively debate is ensuing as to why the mortgage industry is unraveling and who’s to blame for the growing credit crunch that is sabotaging the housing industry. Wall Street analysts,
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Jackson Takes a Final Bow at HUD
  
  For President Bush this is a pretty significant blow, since Jackson was helping to spearhead the Administration’s efforts to increase homeownership nationwide, as well as dealing with the mortgage crisis which has befallen this country. This project allows for a greater number of mortgages at higher loan limits to be sold on the secondary market, providing FHA insured loans to potential home buyers in more costly areas of the country. He gave himself a couple of weeks to clean out his desk, clear out of his office and say his final goodbyes to his staff. After that, Alphonso
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Big Ben Is Finally Talking Foreclosures
  
  Or to utilize principal writedowns or short payoffs to help out homeowners with little or no equity left. At the national level he believes real relief that will stabilize the nation’s housing sector and help it recover will come with the support of such programs as the FHA Secure program and the HOPE NOW alliance coalition, as well as hastening the modernization of the Federal Housing Administration (FHA). Bringing the lending limits of FHA originated loans to Big Ben Bernanke, that guy at the top of the nation’s financial food chain, finally admitted Tuesday in an address to a group of the nation’s community bankers that foreclosures are not going to go away anytime soon. The Fed Chief gave two reasons for the bleak forecast (both of which have been espoused in previous posts in this blog): 1) further declines in housing prices are expected; and 2) significant resets of adjustable interest rates to unaffordable levels for many borrowers who were convinced to take out the more risky loan products of the past few years.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• The Government Goes After Loan Officers
  
  In its 1980 McLean decision , the Supreme Court said “mortgage obligations physically and constructively were traded as financial instruments in the interstate secondary mortgage market.” For example, the SEC could limit its investigation to mortgages that were foreclosed within the first 12 to 18 months after origination. In August 2006, Steven Krystofiak, President of the The Government Goes After Loan Officers By Peter G. Miller    One of the most galling aspects of the mortgage meltdown is the sense that folks who made
  www.realtytrac.com - Tuesday, February 3, 2009
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