Mortgage News Archive - January 2009
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Mortgage Loan Modifications Hit Record High, While New Home Sales Hit Record Low
January 30, 2009Mortgage companies continue to move at an accelerating rate to modify trouble loans--modifying 122,000 loans...
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$819 Billion Stimulus Passes House. Recovery or Pork?
January 29, 2009The new Obama administration gets a first legislative victory with the easy passage of his $819 billion...
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"Bad Bank" For Toxic Mortgages Gaining Support from Obama Administration
January 28, 2009Lawmakers and Wall Street are buzzing about the prospect of a "bad bank." This plan would create an...
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Fannie Mae and Freddie Mac Need Billions to Prop Continued Mortgage Losses
January 27, 2009Just days after Freddie Mac announced a need for $35 billion, Fannie Mae says it needs $16 billion in federal...
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Federal Reserve May Get Power to Regulate Entire US Financial System
January 26, 2009The financial sector may be getting new oversight that makes Sarbanes-Oxley look like a light administrative...
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Rates Fall Below 5%, But Mortgage Refinance Challenging
January 23, 2009Mortgage rates are hitting record breaking lows, flooding down-sized lenders with new mortgage applications....
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Congress Introduces National Mortgage Fraud Task Force Act
January 22, 2009Low mortgage rates have brought more than a refinance boom, it has brought a surge in mortgage fraud. FBI...
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President Obama Walks into New Bank Crisis
January 21, 2009While President Barack Obama was being sworn in, Wall Street was free falling. Bank stocks continue to inject...
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Obama Campaigned for President, But Becomes Top Mortgage Banker
January 20, 2009Warren Buffett called it an "economic Pearl Harbor." Even the best economists concede they were hit with...
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Plunging Mortgage Rates Have Lenders Hopping, But Not Celebrating
January 16, 2009As mortgage rates plunge below 5 percent mortgage lenders are being flooded with consumer inquiries about...
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Bernanke Encourages Return to Original TARP Mandate, Remove Toxic Mortgages
January 15, 2009Two of the Federal Reserves top officials advocated a refocusing on ridding bank balance sheets of toxic...
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FHLB Running Short on Capital, Bad Mortgage Debt Cited
January 14, 2009Another government supported mortgage mortgage agency is in trouble. The Federal Home Loan Bank (FHLB) of...
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2005 Bankruptcy Law Linked to Mortgage Crisis
January 13, 2009Debate continues on efforts to give Federal bankruptcy judges the power to modify mortgage loans. Heralded as...
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US Housing Market Full of Opportunity for Home Buyers
January 12, 2009While the TV talking heads continue to despair about a failing economy, home buyers can grab a great deal on...
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Federal Reserve Support for Expanded FHA Mortgage Lending
January 09, 2009In remarks made to the Boston Mortgage Banker Association, Boston Federal Reserve Bank President Eric...
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Paulson Officially Turns Over the Mortgage Crisis to Obama
January 08, 2009In a Wednesday statement, outgoing US Treasury Secretary Henry Paulson pointed to President-elect Barack...
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Mortgage Bankruptcy Bill Re-Introduced
January 07, 2009A controversial mortgage aid bill returns for lawmakers consideration. First introduced in 2007, Senator...
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Fed Begins Buying MBS, Pushing Down Mortgage Rates
January 06, 2009Yesterday the Fed bought their first round of mortgage securities guaranteed by Fannie Mae, Freddie Mac, and...
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Low Mortgage Rates and Sale of IndyMac Bank Ring in New Year
January 05, 2009In a mortgage market clamoring for good news, homeowners and investors get a couple of silver linings to kick...
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Obama to Cut Wasteful Spending
January 02, 2009Faced with a rising deficit and a sour economy, President-elect Obama vows to make tough budget choices down...
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Could 2009 Give Us an Economic Recovery?
January 01, 2009In the closing days of 2008, a year fraught with economic turmoil, there are enormous efforts to make 2009 a...
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