Posts Tagged ‘mortgages’

Surprise! Mortgage Standards Being Lowered

As you no doubt know, various government agencies have moved the ball pretty far down the field with respect to loosening down-payment requirements for loans from Fannie and Freddie. The return of the 3% down mortgage seems to be pretty much assured. Arnold Kling offered this with respect to a Calculated Risk post on the [...]

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Another Cure Offered Up For Housing

I suspect that even when the economy reaches a point of real recovery that there will be someone, somewhere stumping for another mortgage relief plan. Today’s edition is brought to you by Glenn Hubbard and Chris Mayer. It’s essentially a rehash of a plan Morgan Stanley touted a couple of months ago. In a NYT [...]

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Moving On From Fixed Rate Mortgages

Arnold Kling has some interesting thoughts on 30-year fixed-rate mortgages today. 1. The U.S. is the only country with the 30-year fixed-rate mortgage. Other countries get along fine without it. 2. The core of my argument against the thirty-year fixed-rate mortgage is that without government intervention I believe that more borrowers would prefer mortgages where [...]

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Interest Rates Torpedo Refinancings

All of this was supposed to be a thing of the past. You know, no mortgage brokers stringing their customers along while they waited for rates to get better and pad their bottom line, everyone getting exactly what they were promised a new, kinder and gentler mortgage market. Guess what. It didn’t happen. When rates [...]

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Let’s See If These Guys Can Figure Out Derivatives

I don’t know about you but this isn’t exactly what I had in mind for a new financial services regulatory regime. MarketWatch reports that there is a push in both the House and Senate to set up a Financial Products Safety Commission. Here’s what it would do. The panel would provide independent advice to consumers [...]

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First Thoughts On The Foreclosure Relief Initiative

Well I might as well join the crowd and post this. In true Orwellian fashion it’s called the Homeowners Affordability and Stability Plan (HASP?). Here is an outline that’s somewhat intelligible. It’s from Washington Wire. 1. Refinancing for Up to 4 to 5 Million Responsible Homeowners to Make Their Mortgages More Affortdable 2. A $75 [...]

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Solving The Housing Crisis Via The Bankruptcy Courts

So how are you going to feel when your neighbor who paid about the same as you for your house and borrowed about the same amount as you did gets his mortgage chopped down by a bankruptcy court? That’s likely to be reality within a month or two. The WSJ has an article that argues [...]

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