Q&A: How and why did Fannie and Freddie get into trouble? Sep 11, 2008
A: They provide liquidity for home financing in two ways: They buy mortgages from banks and other loan originators for their own corporate portfolios. They also package originators' mortgages for re-sale to investors. (USA Today -- Money)
Wall Street Soars on Fannie, Freddie Bailout Sep 9, 2008
Any recovery in home prices will be largely dependent on the health of Fannie and Freddie, which own or guarantee about half of all outstanding mortgages and are the biggest providers of home financing in the country. The health of the housing market is considered key to restoring luster to the U.S. economy. (ABC News -- Wire)
Strong Data, Financials Drive Stocks Higher Aug 28, 2008
Fannie Mae, the biggest provider of U.S. home financing, rose 15. 3 percent to $6. (ABC News -- Wire)
GMAC Financial Services and Operation HOPE Offer Financial Literacy Program in Harlem Aug 20, 2008
SmartEdge provides consumers with the tools and information they need to make educated financial decisions about credit, budgeting, vehicle and home financing, banking, and insurance. In 2007, SmartEdge took part in more than 2,300 events, reaching more than 1 million consumers. (PR Newswire)
A long year of lessons for the Federal Reserve Aug 18, 2008
The theme last year was housing, home financing and monetary policy. Much of the discussion and debate centered on hypothetical concerns about how hard the housing downturn might hit the economy. (International Herald Tribune)
Associations Team Up for Foreclosure Workshop Aug 13, 2008
REALTOR Magazine Online: The real estate professional's business support tool. YOUR INTERACTIVE MAGAZINE REALTOR.ORG/realtormag. (Realtor Magazine Online)
Inflation fears recede in Thailand Aug 11, 2008
Reuters Published: August 11, 2008. Fears of double-digit inflation in Thailand are easing because of falling oil prices, according to the Bank of Thailand's governor, Tarisa Watanagase. (International Herald Tribune -- Business)
Outside U.S., loose credit ensnares consumers Aug 10, 2008
America's top home financing company Fannie Mae fueled little optimism in the housing market when it posted a ... America's top home financing company Fannie Mae fueled little optimism in the housing market when it posted a. (International Herald Tribune)
Port growers struggle to stay afloat Aug 9, 2008
Vineyards in the Douro Valley of Portugal, where production is relatively costly, have been hit by a drop in the average price of port. (Vanda de Mello/Bloomberg News). (International Herald Tribune -- Business)
RBS posts first-ever first-half loss Aug 9, 2008
Reuters, Bloomberg News Published: August 8, 2008. A write-down on risky assets sent Royal Bank of Scotland to a first-half loss of 691 million - better than many investors had feared but still one of the biggest losses in British history. (International Herald Tribune)
Stocks in Asia drop as pessimism deepens Aug 7, 2008
Reuters Published: August 7, 2008. Asian stocks fell and government bonds rose Thursday, as a sustained decline in oil prices could not shake a sense of gloom among investors about financial sector instability and the global growth outlook. (International Herald Tribune -- Business)
Breaking down ships, and paying a high price Aug 7, 2008
Reuters Published: August 7, 2008. The workday is long, dangerous and poorly paid, but the Bangladeshi workers dismantling ships and recycling the parts say they have no choice. (International Herald Tribune -- Business)
Fannie Mae fee likely to raise loan costs Aug 6, 2008
The changes have made it harder or more expensive for borrowers to get home financing, contributing to deeper price drops, said consultant David Lykken of Mortgage Banking Solutions in Austin, Texas. Fannie Mae and Freddie Mac now finance about 70 percent of new US home loans, according to analysts at. (Boston Globe)
Dollar drifts by US financial jitters Jul 29, 2008
The US Treasury and the nation's four biggest banks on Monday unveiled a plan to kick-start a market for an investment product to support home financing in the latest effort to spur a slumping housing market. Bookmark / Share. (India Times)
Treasury and Banks Kick-Start Home Financing Tool Jul 29, 2008
WASHINGTON (Reuters) - The Treasury and the nation's four biggest banks on Monday said they will kick-start a market for an investment product to support home financing in the latest effort to spur a slumping housing market. Bank of America , Citigroup , JPMorgan Chase and Wells Fargo said they planned to begin issuing covered bonds, which are secured by pools of assets like home loans. (ABC News -- Wire)
Kill the competition: Tesco bank buy ... Merrill write-down ... Jul 29, 2008
Reuters: The US s four biggest banks will begin backed by pools of home loans under the latest plan with the Treasury to support home financing. Comment. (Times Online)
McCain stays on attack; Obama wants to talk economy Jul 28, 2008
At a time when all the major polls show U.S. voters consumed primarily with economic issues growing joblessness, high fuel costs, rising food prices and a crisis in home financing Obama's overseas trip last week reignited the campaign debate over pulling troops out of Iraq and strengthening the fighting force in Afghanistan. In one of the most striking lines of the campaign, McCain said during a town hall meeting Tuesday in New Hampshire that "Sen. Obama would rather lose a war in order to win a... (International Herald Tribune)
Tips for repaying a home loan Jul 28, 2008
Banks and home financing companies such as SBI, HDFC, HSBC, LIC Housing Finance and others may have one or many options that they may recommend as the right scheme for you. The criteria taken into account by the loan-giving agency include age, income, saving history, educational qualifications, job profile, number of dependants, type of property (including the builder) and so on, says Renu Sud Karnad, joint managing director, HDFC.. (India Infoline.com)
FULL STORY-> Jul 23, 2008
Last year, HUD and its state and local fair housing partner agencies received more than 10,000 complaints alleging some form of housing discrimination, including complaints that alleged discrimination related to home financing transactions. "This is a tremendous opportunity to alert the public that housing discrimination can occur when a family seeks a home loan," said Kim Kendrick, HUD Assistant Secretary for Fair Housing and Equal Opportunity. (RealtyTimes)
Brochure cites ways to avoid foreclosure Jul 23, 2008
Protecting Your Investment: Understanding Home Financing and Avoiding Foreclosure offers guidance to consumers who are considering purchasing or refinancing a home and offers tips to homebuyers who are having trouble paying their mortgage. The brochure also outlines remedies to avoid foreclosure. (Bolton Common, MA)
Stretching Your Advertising Budget with Remnant Ads Jul 22, 2008
Mortgage Myths: 77 Secrets That Will Save You Thousands on Home Financing (John Wiley. Foreclosure Self-Defense For Dummies (John Wiley. (RealtyTimes)
Banks sound but economy to take time: Paulson Jul 21, 2008
The lines of frustrated depositors outside its doors provided a stark illustration of the U.S. home financing crisis. "Our banking system is a safe and a sound one," Paulson insisted on CNN's "Late Edition.". (Reuters)
Google's profit falls short of expectations Jul 21, 2008
Varian said some ad areas were down in the quarter including real estate and home financing. "But we've seen positive growth in every other sector.". (USA Today -- Tech)
No magic wand in sight as US grapples with sinking economy Jul 21, 2008
U.S. stocks fell sharply on Friday after Treasury Secretary Henry Paulson gave no signs of planning a bailout for home financing providers Freddie Mac and Fannie Mae, and oil prices hit an all-time high, clouding the outlook for the economy. (Xinhua/Reuters Photo). (Xinhua)
Global stocks surge for a second day Jul 18, 2008
The $3 billion note sale helped calm fears about the strength of the two pillars of U.S. home financing, after initial skepticism over a U.S. rescue plan. Freddie rose almost 22 percent, and Fannie rose more than 18 percent. (International Herald Tribune -- Money Report)
Northern California home prices plunge in June Jul 18, 2008
The market also was affected by a drop in home financing in the jumbo category, which until recently was defined as loans above $417,000, DataQuick said. Before the credit crunch hit in August 2007, nearly 65 percent of homes in the region were financed with jumbo loans. (San Diego Union-Tribune -- Business)
SoCal home prices drop 29.3 percent in June Jul 17, 2008
The median price has fallen because of depreciation, especially in inland markets, and because of the steep drop in home financing in the jumbo category, which until recently was defined as loans above $417,000, DataQuick said. Before the credit crunch hit in August 2007, nearly 40 percent of Southern California sales were financed with jumbo loans. (Forbes)
Top Ten Tips for Financing a Home Jul 16, 2008
Destra offers 10 tips to help make the home financing process easier. 10. (Pekin Times, IL)
US growth, inflation risks growing Jul 16, 2008
Welcome to The Sydney Morning Herald. Skip directly to: Search Box, , , Text Version. (Sydney Morning Herald -- Business)
Loan woes eroding confidence Jul 15, 2008
"This will bring us back to a simpler time in home financing where many people believed we should have been all along," Peter Milewski, director of the mortgage insurance fund for MassHousing, the state's affordable housing bank. "We'll be giving a lot more thought to who we put in homes and how we put them in homes.". (Boston Globe)
New Advanced Online Real Estate and Mortgage Calculation Tools For Investors and Homeowners Jul 15, 2008
These tools are useful in determining home financing needs and understanding the financial implications of home ownership. With the current mortgage crisis, the general public could benefit greatly from improved tools and education on the subject of property ownership and mortgage financing. (Yahoo News -- Press Releases)
Five Tips to Help You Gear Up for the Homebuying Season Jul 15, 2008
Report any errors to the credit reporting agencies right away, so that your credit report is accurate when you're ready to apply for home financing ... An experienced loan officer will take the time to review the home financing process, define terms, and listen to your concerns to get you a loan that fits your needs. (Harrisburg Daily Register, IL)
Indices fall; Ranbaxy, Infosys biggest drags Jul 14, 2008
83 per cent. Asian equities partially recovered lost ground led by advances in banking stocks after the US government unveiled measures to help the troubled home financing providers. The Nikkei 225 was up 0. (India Times)
IndyMac Seized as Financial Troubles Spread Jul 14, 2008
The federal takeover of IndyMac capped a tumultuous day for U.S. markets that saw stocks slide on a surging oil price and renewed fears about the stability of the top two home financing providers, Fannie Mae and Freddie Mac. IndyMac will reopen fully on Monday as IndyMac Federal Bank under Federal Deposit Insurance Corp supervision, but tensions ran high as customers at a branch at its Los Angeles-area headquarters read a notice in the window saying it was closed. (ABC News -- Wire)
Bernanke Says Fed May Continue Lending Into Next Year Jul 14, 2008
The S&P 500 Banks Index, a measure of 22 firms including Fannie Mae and Freddie Mac, the largest sources of U.S. home financing, fell to 155. 48 yesterday, its lowest level since 1996. (Yahoo News -- U.S. Economy)
Problems at Fannie Mae, Freddie Mac ripple outward Jul 13, 2008
Together, Fannie and Freddie account for about half of outstanding home financing in the nation. Now, with the housing market in deep downturn, shareholders have been bailing out as they look at the financial risks these firms face. (Christian Science Monitor -- USA)
Fannie and Freddie Fears, Oil Over $147 Hit Wall St Jul 13, 2008
NEW YORK (Reuters) - U.S. stocks tumbled on Friday as fears about the stability of the top two home financing providers, Fannie Mae and Freddie Mac, combined with oil at a record above $147 to cloud the economic outlook. Friday's slide capped a tumultuous week in which the Sjoined the Nasdaq and the Dow in a bear market. (ABC News -- Wire)
Regulators close U.S. bank Jul 13, 2008
The takeover of IndyMac capped a tumultuous day for U.S. financial markets that saw stocks slide on a surging oil price and renewed fears about the stability of the top two home financing providers, Fannie Mae and Freddie Mac. IndyMac's primary regulator, the Office of Thrift Supervision, blamed comments by New York Democratic Senator Charles Schumer for causing a run on the deposits at the largest independent publicly traded U.S. mortgage lender. (Globe and Mail)
How to Get a Mortgage in Today's Market Jul 13, 2008
Check Your Credit - One of the first steps in the home financing process is to check your credit report. An individual's credit score will have a significant impact on their mortgage loan approval and interest rate. (Canton Daily Ledger, IL)
Unbelievable, But True Jun 28, 2008
Home financing and overall monthly expenses go hand in hand. Many people are afraid that their monthly costs will go through the roof because they believe that mortgage rates are heading up. (Townhall.com)
Castle Bank honored as million dollar lender Jun 27, 2008
It is because of the performance of lenders like Castle Bank that Rural Development in Illinois led the nation the last three years in guaranteed home loans that helped more than 2,700 home buyers each year secure the best home financing available, Vetos added. The Rural Development guaranteed home loan program also offers flexible credit guidelines and generous income limits. (DeKalb Daily Chronicle, IL)
Rowlands move into new home Jun 17, 2008
In a news release, they noted that the Rowlands and their two children were able to purchase a new home in Pontiac using low cost home financing set aside by the federal agency to help flood victims. Rural Development offers home loan programs for homebuyers in communities which typically have fewer than 20,000 residents and are in non-metro areas. (Pontiac Daily Leader, IL)
It's all about the issues for McCain, Obama Jun 13, 2008
"McCain has said he was comfortable keeping U.S. forces in Iraq for 100 years, but more recently he said he could envision troops withdrawing around 2013. He has refused to name a date.Shortly after McCain spoke, Johnson, Obama's presidential search team member, resigned."Jim did not want to distract in any way from the very important task of gathering information about my vice presidential nominee, so he has made a decision to step aside that I accept," Obama said in a statement.Click for... (MSNBC -- Politics)
Mesquite’s Sick of Signs’ campaign hailed a success Jun 6, 2008
Such signs display messages such as, "will pay for houses," "100% home financing," and " 1000 a week home business," among other signs which frequently advertise questionable multi-level marketing or work-at-home schemes, dubious weight loss plans, credit repair and predatory lenders. Environmental code officers pick up thousands of such signs every year, but use the month of May to create community awareness about the problem. (McKinney Courier-Gazette, TX)
Market so bad, one house got 36 offers in a day Jun 2, 2008
Routine home financing, as in many other markets, was in the form of risky adjustable-rate mortgages. When low interest rates reset, many of those mortgages became too expensive to maintain, triggering a wave of defaults and foreclosures. (MSNBC -- Business)
Home loan counsellors are here May 21, 2008
This has necessitated the demand for home loan advisors having the knowledge about the legal and regulatory aspects of home financing. These counsellors can effectively protect consumers from exploited by the builders and real estate developer. (India Times)
Paulson says U.S. economy is stabilizing May 17, 2008
WASHINGTON (Reuters) Fannie Mae, the nation's largest source of home financing, said on Friday that it was lowering the amount of down payments required on mortgages it purchases in areas where home prices are falling. Starting on June 1, the new requirements of 3 percent or 5 percent, which replace rules set in December, will apply nationally to loans on single-family primary residences, it said. (International Herald Tribune)
Fannie Mae cuts mortgage down payments May 17, 2008
NEW YORK (Reuters) Fannie Mae , the nation's largest source of home financing, said Friday it is lowering the amount of down payments required on mortgages it purchases, even in areas where home prices are falling. Starting June 1, the new requirements of 3% or 5% will apply nationally to loans on single-family primary residences, it said. (USA Today -- Money)
Banks set to push home loans May 16, 2008
Instead of burdening customers to visit banks, he said the bank's mobile sales officers would visit customers in their homes or offices to offer home financing ... This involves selling home financing to the bank's existing five million customers with savings and current accounts ... CIMB Bank also had a complementary range of Islamic home financing packages available via its mobile sales force and at its 362 CIMB Islamic branches nationwide. (The Star Online, Malaysia)
Alliance Bank upbeat on Islamic banking assets growth May 16, 2008
The newly incorporated Alliance Islamic Bank has its portfolio, Malaysias first Islamic deposit-linked home financing facility, the Alliance i-WISH Home Flexi; and the Alliance CashVantage Personal Financing-i, a two-tiered personal financing that offers 35% lower repayment for the first year. Lai said Alliance Bank would continue to focus on the local market, as there was still an opportunity to increase market share in the next two to three years. (The Star Online, Malaysia -- Business)
Dollars flow online as marketers panic May 15, 2008
The director of Foreseechange, Charlie Nelson, said that despite eroding business confidence and deteriorating home financing levels, retail sales would hold up for the rest of the year unless there were further rises in interest rates and fuel prices or a slump in house prices. Mr Nelson said household goods and furniture retailers would struggle but most other retail categories, including motor vehicles, would escape a demand crunch. (Sydney Morning Herald -- Technology)
NAR's chief economist predicts housing rebound in 2008 May 9, 2008
That displaced what is the more traditional financing options through the Federal Housing Administration, which fell from nearly a quarter of overall home financing to just around 2 to 3 percent. Now that subprime has dried up, lenders are rediscovering the FHA. However, it could take time for them to complete the application process to become eligible for FHA assistance, and the market may have to wait for that red tape to be cleared, he said. (Tampa Bay Business Journal, FL)
Optimism from U.S. mortgage giant lifts stocks May 8, 2008
The dollar extended declines against the euro and other major currencies for a second session as weaker-than-expected results at Fannie Mae, the largest provider of U.S. home financing, soured the mood among investors. U.S. government debt prices rose as Fannie Mae's $2. (International Herald Tribune -- Money Report)
DR Horton posts $1.3 bln loss; cuts dividend May 7, 2008
But shares of D.R. Horton and other home builders finished significantly higher following cautiously optimistic statements from D.R. Horton and U.S. home financing provider Fannie Mae. D.R. Horton stock ended the day up 5. (Reuters)
Fannie Mae posts loss, to cut payout May 7, 2008
Still, executives of the largest U.S. provider of home financing were cautiously optimistic that the worst of the credit turmoil that erupted from the housing crisis may have passed. Their comments triggered a big rally in Fannie Mae shares and supported a wider advance in U.S. stocks. (ABC News -- Wire)
Services data hit pound May 7, 2008
Meanwhile, the dollar pulled back from a five-week high against the euro and a two-month peak against the yen after quarterly earnings from Fannie Mae, the largest provider of US home financing, came in below forecasts and oil prices surged to record levels. The dollar rallied sharply last week, boosted by a signal from the Federal Reserve that it was set to pause its interest rate cutting cycle and an above-forecast US employment report. (FT.com -- Markets)
Fannie Mae posts $2.51 billion loss May 6, 2008
Fannie Mae , the largest provider of U.S. home financing, on Tuesday reported its third straight quarterly loss as the U.S. housing crisis took another turn for the worse during the first quarter of 2008. The federally chartered company also said it would reduce its common stock dividend beginning with its third-quarter payout as it sees significant credit losses stretching into 2009. (International Herald Tribune -- Business)
Housing bubble 'mutating into global phenomenon'... Apr 14, 2008
As home financing and credit tighten in response to the crisis that began in the U.S. subprime market, analysts worry that other countries could suffer the mortgage defaults and foreclosures that have afflicted California, Florida and other states. Citing the far-flung reverberations from the American housing bust and credit squeeze, the International Monetary Fund cut its forecast Wednesday for global economic growth this year and warned that the malaise could extend into 2009. (The Drudge Report)
State Bank of Graymont in Downpayment Plus Apr 10, 2008
Qualified families needing downpayment and closing cost assistance must apply for home financing at State Bank of Graymont and meet the institution's loan underwriting criteria. A qualified household will be eligible to receive up to 4,000 in subsidized assistance for the acquisition of a owner-occupied one or two family dwelling. (Pontiac Daily Leader, IL)
A home located in Emerald Cove off of U.S. Highway 90 will be open today from 1 to 3 p.m. as part of the Showcase of Homes, Buy Now event. An insert published in Fridays edition of the Lake City Reporter listed all the homes that are open for a walk-through. JOHNNA PINHOLSTER/Lake City Reporter Mar 30, 2008
Showcase Central, an informational booth, was set up in the newly constructed commercial site at 1140 SW Bascom Norris Drive which provided information on home financing and loans. Sponsored by the Lake City Board of Realtors, Columbia County Builders Association and the Lake City Reporter, the event also showcased homes throughout Columbia County that are open today for perusal. (Lake City Reporter, FL)
CEO sees little change in market; KB Home loses $268.2 million Mar 29, 2008
Mezger noted that the company's joint home financing venture with mortgage lender Countrywide Financial Corp. was performing "very well."Mezger said Countrywide KB Home Loans started accepting loan applications this month for home loan amounts at the recently boosted limits set by the Federal Housing Administration. The new limits increased the size of mortgage loans that can be guaranteed by the federal agency to as much as $729,750 in some metro areas. (Fresno Bee -- Business)
Midland States Bank adds mortgage lender Mar 26, 2008
Midland States Bank is committed to providing the best home financing programs available. Many home-loan packages can be complicated and sometimes surprising to customers. (Mattoon Journal-Gazette, IL)
Banks allowed to lift MBS holdings Mar 25, 2008
The move announced on Monday by the Federal Housing Finance Board enables the banks in the Federal Home Loan Bank system to expand their holdings of securities issued by Fannie Mae and Freddie Mac, the congressionally chartered companies that are the two biggest U.S. home financing providers. Regulators have made a series of moves to ease strains in U.S. mortgage markets where a rising tide of foreclosures has made lenders so wary that it has threatened to dry up funding. (ABC News -- Wire)
McCain leaves housing crisis options on table but places limits on government assistance Mar 25, 2008
John McCain wants to leave the door open to a wide array of proposals to address the turmoil in home financing. "I will not play election-year politics with the housing crisis," the certain Republican presidential nominee said in remarks prepared for delivery Tuesday to local business leaders south of Los Angeles. (International Herald Tribune)
Early in campaign, Sununu, Shaheen both focus on mortgage crisis Mar 24, 2008
Sununu, who defeated the former governor to win his first term in 2002, says he's known for years what direction the country was headed in on home financing and has been ahead of the curve in proposing solutions. As far back as 2003, he co-sponsored a bill to strengthen regulation of the huge government sponsored mortgage companies Fannie Mae and Freddie Mac, which hold or guarantee more than 45 percent of all mortgage loans in the country. (Concord Monitor)
