Treasury Secretary Timothy Geithner said Sunday the government should retain “some type” of federal guarantee to ensure that Americans can easily finance home loans, in what could be the latest salvo between the Obama administration and Republicans over the future role of the public sector in the housing market.
The statement cuts to the heart of [...]
Archive for the ‘hard money’ Category
Geithner: U.S. Should Retain a Mortgage Backstop
July 26th, 2010 by Mortgage Writer
Tags: borrowing, fannie mae, financial crisis, Freddie Mac, home loans, homeowners, housing market, investors, mortgage, tax credit
more...Mortgage defaults in California at 3-year low
July 23rd, 2010 by Mortgage Writer
The number of default notices in the second quarter falls 43.8% compared with the same period in 2009. Meanwhile, banks step up repossession of foreclosed homes.
The number of Californians entering foreclosure slid dramatically in the second quarter to a three-year low as the fallout from the worst of the housing crisis continued to abate.
Default notices, [...]
Tags: economic recovery, foreclosure, home foreclosures, home loans, home prices, homeowners, housing market, mortgage lenders, mortgage loans, mortgages, short sales, subprime mortgages, US Economy
Program to Help Prevent Foreclosures Falls Short
July 22nd, 2010 by Mortgage Writer
The Obama administration’s program to help homeowners avoid foreclosure has fallen far short of its goals, in part because the Treasury Department has failed to spell out what its objectives should be, according to an assessment offered to Congress on Wednesday.
Only 390,000 homeowners have seen their mortgage terms permanently modified since the $50 billion program [...]
Tags: financial system, foreclosures, homeowners, interest rates, mortgage market, mortgage modification, mortgages, US Economy, wall street
Fannie Mae Subpoenas May Find $30 Billion of Bad Mortgages, Analyst Says
July 21st, 2010 by Mortgage Writer
Fannie Mae and Freddie Mac’s regulator may identify as much as $30 billion of debt included in mortgage bonds that the companies can force sellers to repurchase, according to Joshua Rosner, an analyst who in 2007 predicted the collapse in the market for the securities.
The Federal Housing Finance Agency this month said it issued 64 [...]
Tags: bank of america, economists, fannie mae, Federal Housing, financial market, Freddie Mac, housing market, investors, loan, money, mortgage bonds, mortgage securities, subprime mortgages, tax credit, treasurys, wall street
Mortgage Rescue Scheme to be cut
July 20th, 2010 by Mortgage Writer
The government is cutting the amount home owners can sell to the council under the Mortgage Rescue Scheme.
Grant Shapps says the amount that home owners can sell to the council or housing association will be reduced from 65% to 55% which will allow more people to benefit.
He adds that the Scheme needs to be “refocused” [...]
Tags: home loans, homeowners, housing market, interest rates, loan, money, mortgage loans, mortgage market, mortgage payments, mortgage rescue, mortgages, real estate
Daily Mortgage Rates
July 19th, 2010 by Mortgage Writer
Today the thirty-year fixed rate mortgage (FRM) is averaging an interest rate of about 4.50%, this is down from most of last week when the thirty-year FRM averaged at 4.625%. The current mortgage rates being offered by America’s leading mortgage servicers continue to remain around fifty-year lows.
The fifteen-year FRM is currently being advertised at about [...]
Tags: economic recovery, FHA, fixed rates, homebuyers, housing market, interest rate, lenders, loan, loans, mortgage lenders, mortgage lending, mortgage rates, mortgages, real estate
Real Estate Matters: Windfall lets 15-year mortgage work
July 18th, 2010 by Mortgage Writer
We are looking at refinancing this week. We have about $250,000 equity in our home on a 30-year mortgage at 6.2 percent. We are three years into the mortgage. We are in our mid-50s. We know we will stay in this home for at least seven more years. We have just come into a very [...]
Tags: financial, foreclosures, homebuyers, housing market, interest rates, loans, mortgage, mortgage market, mortgage payments, mortgages, real estate, subprime mortgages, tax credit, US Economy
Mortgage Refinance Loan – Are They Easy To Find?
July 16th, 2010 by Mortgage Writer
With bad economical condition many people move to bad credit status. There are many lenders who are offering bad credit loans. If a borrower is searching for refinance loan with bad credit than it’s difficult. But yet, there are some companies who are willing to help. These loans are stress free and are the process [...]
Tags: bad credit, borrower, brokers, economic recovery, financial, foreclosure, home loans, homebuyers, loan, money, mortgage finance, mortgage loans, real estate, real estate loans
Mortgage Rates Mostly Flat; 30Yr Fixed Stays At 4.57% -Freddie
July 15th, 2010 by Mortgage Writer
Mortgage rates were largely flat the past week, with the average rate on 30-year fixed-rate mortgages remaining at a record low, according to Freddie Mac’s (FMCC) weekly survey of mortgage rates.
Rates remain at or near record lows as the Treasury market has rallied amid stock-market skepticism, pushing yields down. Mortgage rates generally track Treasury yields.
The [...]
Tags: fixed rates, Freddie Mac, home loans, housing market, interest rates, loan, money, mortgage, mortgage lenders, mortgage payment, mortgage rates, mortgages, real estate, treasury, treasurys
Mortgage-Bond Yield Spreads Approach Lowest Level on Record
July 14th, 2010 by Mortgage Writer
Fannie Mae’s current-coupon 30-year fixed-rate mortgage bonds narrowed 0.03 percentage point to about 0.65 percentage point more than 10-year Treasuries as of 4:45 p.m. in New York, according to data compiled by Bloomberg. The gap reached 0.59 percentage point on March 29, two days before the Federal Reserve ended its buying of $1.25 trillion of [...]
Tags: borrowers, central bank's, fannie mae, federal reserve, home loans, jpmorgan, Mortgage Bankers Association, mortgage bonds, mortgage market, mortgage securities, tax credit
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