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Finance, Economy & Government Issues Archive


Chase Extends Modification Efforts to Include the $1.1 Trillion of Investor-owned Mortgages It Services

RISMEDIA, January 20, 2009-Chase announced that it has extended its mortgage modification efforts to the investor-owned loans that it services-about $1.1 trillion of loans-significantly expanding the reach and effectiveness of its previously announced mortgage modification efforts. This effort includes investor-owned mortgages held in securitizations. ...


Congress Introduces H.R. 600, Reinstating DPA

RISMEDIA, January 20, 2009-On Friday, U.S. Representative Al Green introduced a bill, H.R. 600, that would reinstate downpayment assistance (DPA). ...


Democrats Unveil Stimulus Plan Totaling Over $825 Billion

By Kevin G. Hall and David Lightman ...


Low Rates Likely to Stay Awhile, But Cash-outs Refis Elusive

By Alan J. Heavens ...


Mortgage Rates Tie a Record Low

Mortgage Rates Tie a Record Low ...


Foreclosure Activity Increases 81% in 2008

RISMEDIA, January 15, 2009-RealtyTrac®, a leading online marketplace for foreclosure properties, today released its 2008 U.S. Foreclosure Market ReportTM, which shows a total of 3,157,806 foreclosure filings - default notices, auction sale notices and bank repossessions - were reported on 2,330,483 U.S. properties during the year, an 81% increase in ...


Obama on Track to Win $350 Billion from Congress for Bailout

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Secretive Fed Unveils New Plans for Credit Crisis

By Kevin G. Hall ...


Record Low Mortgage Rates Boost Refinance Activity in Latest MBA Weekly Survey

RISMEDIA, January 15, 2009-The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending January 9, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 1324.8, an increase of 15.8% on a seasonally adjusted basis from 1143.8 one week earlier. On an ...


Is There Still Hope for Housing?

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Thirty-Year Fixed Rates Back Below 5.00%

RISMEDIA, January 14, 2009- Thirty-year mortgage rates fell last week to 4.92% and the low rates that have persisted for the last month attracted thousands of homeowners hoping to refinance to Zillow Mortgage Marketplace in December and early January. ...


House Bill Aims to Stabilize Housing, Addresses Foreclosures and Stimulus

RISMEDIA, January 13, 2009-A bill that embraces the need for righting the housing market-the first big step toward economic recovery-was introduced Friday in the U.S. House of Representatives. ...


Environmentalists Hope Stimulus Package Will Push ‘Green’ Goals

By Renee Schoof ...


Refinance Applications Through the Roof as Rates Slide

By Steve Brown ...


Mortgage Rates Hover Around 5.00%

RISMEDIA, January 8, 2009-Thirty-year mortgage rates increased slightly last week for the second consecutive week. The weekly average rates for 30-year fixed mortgages increased to 5.10%, up from 5.07% the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate website Zillow.com(R). Meanwhile, rates for 15-year ...


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