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Finance, Economy & Government Issues Archive


Late Mortgage Payments Continue to Climb

By Ruth Simon, The Wall Street Journal ...


Bernanke Predicts Further Mortgage Turmoil

By Robert Schroeder ...


NAMB Calls for Increases in Loan Limits and Portfolio Caps for GSEs

RISMEDIA, Sept. 21, 2007-The National Association of Mortgage Brokers (NAMB) urged Congress to take steps to enable Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA) to provide much-needed assistance to homeowners facing eminent default or foreclosure."Temporarily lifting Fannie Mae and Freddie Mac's portfolio caps will inject necessary liquidity ...


Investors Use Their IRAs to Make Home Loans

By Kelly Greene ...


Lender’s Troubles Threaten Homeowners

By Peg BrickleyRISMEDIA, Sept. 17, 2007-(The Wall Street Journal)-Thousands of homeowners face an "imminent risk" of losing their homes because of clashes between American Home Mortgage Investment Corp. and its former financial backers, according to Freddie Mac , a government-chartered housing financier. ...


MBA: Mortgage Applications Rose 5.5% Last Week

By Amy Hoak ...


Real Estate Center Economist: Despite Mortgage Woes, Subprimes Serve Purpose

RISMEDIA, Sept. 14, 2007-High-risk home mortgages are facing national scrutiny thanks to the recent rise in subprime foreclosures, but a noted research economist with the Real Estate Center at Texas A&M University is coming to their defense. ...


Paulson Calls for Expansion of Mortgage Products

By Robert Schroeder ...


Center for Responsible Lending Comments on New Federal Mortgage Data

RISMEDIA, Sept. 14, 2007-The following is a statement from Michael D. Calhoun, President, Center for Responsible Lending: ...


FTC Warns Some Mortgage Ads May Violate Law

By Amy HoakRISMEDIA, Sept. 13, 2007-(MarketWatch)-Some of the mortgage advertisements currently appearing in Web sites, newspapers, magazines, direct mail and unsolicited e-mail and faxes may be violating federal law, and on Tuesday the Federal Trade Commission said it was sending warning letters to more than 200 advertisers and media outlets ...


HUD: What They’re Saying about President Bush’s Plan to Help Struggling Homeowners

RISMEDIA, Sept. 13, 2007-After the President announced his plan to help struggling homeowners, several news organizations took to print:The Washington Post: "The president's proposal appropriately focuses government resources where they are likely to do the most good: on subprime borrowers who are behind on their payments but have the means ...


Countrywide Announces Plan to Address Changing Market Conditions Including Workforce Reductions

RISMEDIA, September 11, 2007-Countrywide Financial Corporation has announced a plan of action to address changing market conditions that positions the company for continued growth and success. Central elements of this plan include: ...


Mortgage Jitters Bring Higher Returns for Depositors, Investors

By Jennifer Openshaw ...


California Foreclosures up 200% from Last Year

RISMEDIA, September 10, 2007--The 2nd Quarter National Delinquency Survey, released recently by the Mortgage Bankers Association (MBA), shows that California mortgage loans entering foreclosure have reached 25-year highs, with subprime borrowers bearing the brunt of the storm.The MBA linked market factors such as declining home prices and an increase in ...


New Foreclosures up in 47 States

RISMEDIA, September 10, 2007--The 2nd Quarter National Delinquency Survey, released recently by the Mortgage Bankers Association (MBA), shows that mortgage loans entering foreclosure have increased in 47 states since this time last year. On average, the increases were 50% higher. Only four states -- North Dakota, South Dakota, Utah and ...