3 Articles match "New York","Secondary Market","Subprime"

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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. 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 No Mortgage Meltdown For These Banks By Peter G. Miller     The news from Wall Street in recent weeks has not been good,
www.realtytrac.com - Tuesday, February 3, 2009
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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
www.realtytrac.com - Tuesday, February 3, 2009
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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. Then, appearing on CNBC Tuesday, the secretary revealed that the Bush Administration is economy the boost it needs to sustain itself. In the process the secretary justified the need for the industry coalition, while calling on Congress to expedite legislation to
www.foreclosurepulse.com - Tuesday, December 16, 2008
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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
    www.realtytrac.com - Tuesday, February 3, 2009
    READ MORE
  • 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. Then, appearing on CNBC Tuesday, the secretary revealed that the Bush Administration is economy the boost it needs to sustain itself. In the process the secretary justified the need for the industry coalition, while calling on Congress to expedite legislation to
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE
  • 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. 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 No Mortgage Meltdown For These Banks By Peter G. Miller     The news from Wall Street in recent weeks has not been good,
    www.realtytrac.com - Tuesday, February 3, 2009
    READ MORE