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Finance, Economy & Government Issues Archive


Pending Home Sales Show Effects of Weather, Possible Subprime Impact

RISMEDIA, April 4, 2007-A forward-looking index based on pending home sales indicates that bad weather, and possibly the loss of some subprime lending, will dampen sales closed in March and April, according to the National Association of Realtors®. ...


Mortgage Brokers Back Passage of Secondary Market Reform Measure

RISMEDIA, April 4, 2007-The National Association of Mortgage Brokers has applauded passage of legislation by the House Committee on Financial Services that improves access to key assistance programs for home buyers in high-cost areas. The bill would also reform the oversight procedures for government-sponsored entities (GSEs) Fannie Mae and Freddie ...


New Down-payment Funding Idea Draws Regulators’ Attention

By Gail Liberman and Alan Lavine ...


MortgageDaily.com: Mortgage Blame, Warnings

RISMEDIA, April 3, 2007-Realtors blame the subprime crisis on greed, while mortgage brokers are warning against trigger leads, according to the latest week's coverage from http://www.MortgageDaily.com - a dominant source of online news for the mortgage industry. ...


Tough New Rules Limit Refinancing Options

By Peter G. Miller ...


Bankrate: Mortgage Rates Give Fed Mixed Reaction

RISMEDIA, March 30, 2007-Fixed mortgage rates moved higher following the Fed's stated concerns about inflation. The average 30- year fixed mortgage rate rose to 6.22%. According to Bankrate.com's weekly national survey of large lenders, the 30-year fixed rate mortgages had an average of 0.28 discount and origination points. ...


Realtors Call for Congress to Develop Comprehensive National Natural Disaster Policy

RISMEDIA, March 29, 2007-The National Association of Realtors(R) called upon Congress to act now to establish a forward-looking and comprehensive natural disaster policy that includes disaster preparedness and encourages personal responsibility. ...


Wharton School Real Estate Expert, Genworth Financial Launch ‘U.S. Mortgage Payment Index’

RISMEDIA, March 28, 2007-Mortgage professionals and consumers "should take a look at more traditional financing tools" in today's turbulent housing market, according to Dr. Susan M. Wachter, Professor of Real Estate and Finance at the University of Pennsylvania's Wharton School. Dr. Wachter made her comments in the U.S. Mortgage Index, ...


Subprime Woes Not Impacting Credit Market, says NY Fed Chief

RISMEDIA, March 27, 2007-(MarketWatch)-There is no evidence that problems being experienced in the subprime mortgage sector are spilling over into other credit markets, said Timothy Geithner, the president of the New York Federal Reserve on Friday. ...


34% of Homeowners Don’t Know the Type of Mortgage They Have

RISMEDIA, March 27, 2007-Bankrate, Inc. released a new Bankrate.com poll which found that more than three in 10 homeowners (34%) do not know what type of mortgage they own. Furthermore, 28% of those surveyed worry about how they will afford their payments. The national poll reveals the confusion and anxiety ...


Chase Hires Jim Racine as Regional Manager for Home Lending in Michigan

RISMEDIA, March 26, 2007-Chase announced that experienced mortgage banker Jim Racine has joined the company as regional manager for Home Lending in Michigan. He will be based in Chase's Bloomfield Hills mortgage office on 100 Bloomfield Hills Pkwy. ...


Americans Cite Affordable Housing as High Priority, NAR Joins Coalition to Kick Off National Campaign

RISMEDIA, March 23, 2007-Nine out of 10 Americans agree that providing affordable housing in their communities is important. Fewer than half of all Americans, however, believe that the nation's current housing policy is on the right track to meet the nation's housing needs, according to a new poll released today ...


Realtors Raise Concerns Over Toronto ?Home-buying Tax’

RISMEDIA, March 23, 2007-In an open letter to Toronto Mayor David Miller, the Toronto Real Estate Board (TREB) has raised concerns about a possible home-buying tax in Toronto. ...


Fed Opens the Door to Future Rate Cuts

RISMEDIA, March 23, 2007-(WSJ.com)-The Federal Reserve formally dropped its stated bias to raise interest rates, giving itself flexibility to cut interest rates in coming months if economic growth decelerates further. ...


A Closer Look: Study Investigates Impact of Mortgage Payment Reset

RISMEDIA, March 20, 2007-First American CoreLogic released a new study that investigates the impact of mortgage payment reset and provides insight into which loans will be most affected when adjustable-rate mortgages convert from low introductory interest rates to higher prevailing market rates. The study, titled "Mortgage Payment Reset: The Issue ...