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Despite already receiving $145 billion in taxpayer monies from the Treasury, Freddie Mac and Fannie Mae are asking for more money in order to provide funding for the U.S. mortgage market and to keep the market stable. MarketWatch reports that another bailout would ensure there is adequate capital available to banks and other lenders. Of the … Continue reading Freddie and Fannie Say They Need More Money The Federal Housing Finance Agency has announced that Freddie Mac and Fannie Mae will launch a standardized method for lenders to submit information on mortgages as well as appraisals, according to today’s Reuters article. The protocol is expected to go into effect by 2011. Known as the Uniform Mortgage Data Program, it is geared to reduce … Continue reading New Mortgage Loan Data Protocol Set to Launch Next Year April was one of the cruelest months for homeowners seeking aid from the federal government to pay their mortgages. The Washington Post reported yesterday that 280,000 borrowers — or 20% of homeowners — were dropped from the Making Home Affordable program, raising questions about the effectiveness of stemming the tide of foreclosures. Treasury data showed that … Continue reading 1 in 5 Homeowners Dropped from Federal Mortgage Aid Program in April With foreclosures at an all-time high and 25% of homeowners finding themselves underwater on their mortgages, many homeowners find themselves seeking help. CNNMoney.com reported that the Obama administration recently announced that loan servicers will be required to lower balances in the loan modification process. Freddie Mac and Fannie Mae — two government-controlled mortgage owners — say … Continue reading Where Can You Get Help With Your Mortgage Payments? Bloomberg News reported today that 23% of mortgage holders owe more than what their home are worth in the first quarter of 2010. According to Zillow, a property data provider based in Seattle, more than one in 1,000 homes were repossessed by lenders in March — the highest rate since Zillow recorded such data in … Continue reading More Than 20% of Homeowners Say They’re Underwater Reuters is reporting that foreign investors — discouraged and anxious about the debt incurred by Greece and the ensuing problems of other Euro zone economies as the result — are turning to U.S. mortgage-backed securities as a viable investment option. From January 2009 to March 2010 — as a way to spur the housing market — … Continue reading A Foreign Accent on U.S. Mortgage-Backed Securities |
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