Articles by Subject

$819 Billion Stimulus Passes House. Recovery or Pork?

By:
Bill Rice - MortgageLoan.com | 01/29/2009 - 1:25am

The new Obama administration gets a first legislative victory with the easy passage of his $819 billion economic stimulus package. However, several questions and controversies plague the bills entry into the Senate. Is it spending the right areas? Will the effects be fast enough? Is that pork I see? Where did Obama's scalpel go?

"Bad Bank" For Toxic Mortgages Gaining Support from Obama Administration

By:
Bill Rice - MortgageLoan.com | 01/28/2009 - 1:14am

Lawmakers and Wall Street are buzzing about the prospect of a "bad bank." This plan would create an aggregator bank to acquire, rewrite, and liquidate these troubled mortgages. Sources indicate that the Obama administration is behind the proposal and the FDIC is lobbying to manage the operation.

Fannie Mae and Freddie Mac Need Billions to Prop Continued Mortgage Losses

By:
Bill Rice - MortgageLoan.com | 01/27/2009 - 1:07am

Just days after Freddie Mac announced a need for $35 billion, Fannie Mae says it needs $16 billion in federal aid. Continued deterioration in mortgage assets have now driven these enterprises net worth below zero in the last quarter, according to recent securities filings.

Federal Reserve May Get Power to Regulate Entire US Financial System

By:
Bill Rice - MortgageLoan.com | 01/26/2009 - 1:52am

The financial sector may be getting new oversight that makes Sarbanes-Oxley look like a light administrative task. Congress is moving aggressively to bring a new regulatory structure over the entire US financial system, most probably concentrated within the Federal Reserve.

President Obama Walks into New Bank Crisis

By:
Bill Rice - MortgageLoan.com | 01/21/2009 - 1:17am

While President Barack Obama was being sworn in, Wall Street was free falling. Bank stocks continue to inject fear into the market as toxic mortgage assets continue to force large write downs and stockpiling capital into reserve provisions.

Obama Campaigned for President, But Becomes Top Mortgage Banker

By:
Bill Rice - MortgageLoan.com | 01/20/2009 - 1:20am

Warren Buffett called it an "economic Pearl Harbor." Even the best economists concede they were hit with little warning of the economic sneak attack, ensuing from the mortgage meltdown. All early indications are that Barack Obama, only hours away from being the 44th president, approaches this crisis with the same weight.

Bernanke Encourages Return to Original TARP Mandate, Remove Toxic Mortgages

By:
Bill Rice - MortgageLoan.com | 01/15/2009 - 1:54am

Two of the Federal Reserves top officials advocated a refocusing on ridding bank balance sheets of toxic mortgage assets. In recent statements, both Federal Reserve Chairman Ben Bernanke and Vice Chairman Donald Kohn highlighted the adverse effects these illiquid mortgage assets are having on the proper functioning of financial institutions and credit markets.

FHLB Running Short on Capital, Bad Mortgage Debt Cited

By:
Bill Rice - MortgageLoan.com | 01/14/2009 - 1:30am

Another government supported mortgage mortgage agency is in trouble. The Federal Home Loan Bank (FHLB) of Seattle joins the San Francisco FHLB in announcing steps to shore up their capital reserves against toxic residential mortgage assets.

US Housing Market Full of Opportunity for Home Buyers

By:
Bill Rice - MortgageLoan.com | 01/12/2009 - 1:05am

While the TV talking heads continue to despair about a failing economy, home buyers can grab a great deal on a new home.

Paulson Officially Turns Over the Mortgage Crisis to Obama

By:
Bill Rice - MortgageLoan.com | 01/08/2009 - 1:08am

In a Wednesday statement, outgoing US Treasury Secretary Henry Paulson pointed to President-elect Barack Obama as the "decision maker" for the allocation of the balance of $700 billion in TARP bailout funds.

Low Mortgage Rates and Sale of IndyMac Bank Ring in New Year

By:
Bill Rice - MortgageLoan.com | 01/05/2009 - 1:38am

In a mortgage market clamoring for good news, homeowners and investors get a couple of silver linings to kick off 2009.

Could 2009 Give Us an Economic Recovery?

By:
Bill Rice - MortgageLoan.com | 01/01/2009 - 1:39am

In the closing days of 2008, a year fraught with economic turmoil, there are enormous efforts to make 2009 a year of recovery. Is there reason for hope?