The Government National Mortgage Association, also known as Ginnie Mae, has said it’s planning to give its internal computer systems a big makeover, with the modernization set to be completed by 2020.
Bernanke Says Not To Worry, He’ll Just Buy The Fiscal Cliff And Turn It Into A Public Park
December 15, 2012 by
It’s getting pretty obvious to anyone who is paying attention, that Fed Chairman Ben Bernanke believes he must do something about the fiscal cliff. He’s just announced plans to create and spend $85 BILLION PER MONTH on mortgage and treasury securities – that amounts to more than 1 TRILLION dollars over 12 months!
The Ugly Truth About The So-Called Housing Recovery
November 27, 2012 by
Since 2008’s market melt-down and the advent of record numbers of foreclosures along with the loss of 35% of market value of the underlying assets, the secondary mortgage market has been reeling to and fro like a drunk down at the local bar.
Housing Recovery – Trick Or Treat?
October 24, 2012 by
With Halloween 2012 fast approaching, the news of a housing recovery is beginning to permeate the media. But the real question is whether this is a yummy treat we will enjoy in the days ahead, or just a trick designed to fool us into giving candy to those in disguise.
QE3 – Is The FED Using Unemployment As A Cover For Another Bank Bailout?
September 18, 2012 by
Happy days are here again on Wall Street, which saw stocks, commodities and gold going higher immediately after the big news that the Federal Reserve will begin an open-ended program of new Quantitative Easing, known affectionately as “QE3”. But this time the Fed is going all-in with it’s biggest QE yet
Why Using Eminent Domain To “Fix” Underwater Mortgages Must Be Stopped
July 11, 2012 by
Lately a number of local municipal governments in California have been considering a seizure of thousands of properties with underwater mortgages, by utilizing their “police power” known as “Eminent Domain”. But eminent domain was never intended for this purpose.
Mortgage Finance Act of 2011 Aims To Recreate Secondary Market
January 4, 2012 by
Senator Johnny Isakson, himself a former real estate broker from Atlanta, Georgia, has introduced The Mortgage Finance Act of 2011 with the goal of recreating the secondary mortgage market in a way that will integrate with the new Qualified Residential Mortgage provisions created under the Dodd-Frank legislation.
Federal Housing Finance Agency To Sue Big Banks Over Toxic Mortgages
September 3, 2011 by
The New York Times is reporting that the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, is planning to sue more than a dozen big banks for misrepresenting the quality of mortgages that were sold at the height of the housing boom. The suit alleges that the banks who packaged and sold […]
Atlanta Development Authority Announces $50,000 Down Payment Assistance
September 2, 2011 by
The Atlanta Development Authority has announced that they have new mortgage funding available beginning September 1st of 2011, until April 15th of 2012. Read the press release here. This new program is funded through the Federal New Issue Bond Program. It aims to make mortgage funding available to home buyers who meet specific qualifications. One […]
AIG To Sue Bank of America Over High Losses on Mortgage Backed Securities
August 9, 2011 by
The New York Times is reporting that AIG is planning to sue Bank of America over losses related to mortgage backed securities. Click Here to read the entire NYT article. But the real essence of this story reaches back to the companies that were originating the mortgages in the first place. Bank of America […]
