Category Archives: Economy

FHFA warns Basel III may increase mortgage rates

Posted on October 3, 2011 by BrianCoester

–Housingwire Basel III will increase capital requirements for big banks, resulting in higher mortgage rates, the Federal Housing Finance Agency said. The FHFA made that assertion in a paper released this week on proposed mortgage servicing compensation rules. Basel III … Continue reading →

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Wall Street’s New Watcher

Posted on October 3, 2011 by BrianCoester

–The Wall Street Journal Two weeks after moving into a skyscraper near Wall Street to start assembling a muscular new agency overseeing banks and insurers in New York, Benjamin M. Lawsky got a surprise during an introductory meeting with a … Continue reading →

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House Is Gone but Debt Lives On

Posted on October 3, 2011 by BrianCoester

–The Wall Street Journal LEHIGH ACRES, Fla.—Joseph Reilly lost his vacation home here last year when he was out of work and stopped paying his mortgage. The bank took the house and sold it. Mr. Reilly thought that was the … Continue reading →

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Senate leaders announce bipartisan agreement to avert government shutdown

Posted on September 27, 2011 by BrianCoester

–The Washington Post Senate leaders agreed to a deal Monday evening that is almost certain to avert a federal government shutdown, a prospect that had unexpectedly arisen when congressional leaders deadlocked over disaster relief funding. After days of brinkmanship reminiscent … Continue reading →

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What New Jumbo Mortgage Rules Mean for Expensive Zip Codes

Posted on September 26, 2011 by BrianCoester

–Yahoo! Finance On Oct. 1, the size of mortgages eligible for purchase by Fannie Mae and Freddie Mac will shrink. That isn’t necessarily a big deal in most parts of the country; the new lower limit of $625,500 — down … Continue reading →

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FHFA lacks staff to effectively monitor GSEs, report says

Posted on September 26, 2011 by BrianCoester

–Housingwire The Federal Housing Finance Agency lacks the staff to properly monitor the mortgage giants it has in conservatorship, according to a report by the Office of the Inspector General. The report said the agency also failed to provide adequate … Continue reading →

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US Economy Is Basically ‘Still In Recession’: Fed’s Evans

Posted on September 7, 2011 by BrianCoester

–CNBC The U.S. economic outlook has “clearly” deteriorated this year, and the continued softness of economic indicators shows that the headwinds facing the country are even stronger than thought, Chicago Federal Reserve President Charles Evans said on Wednesday. “Conditions still … Continue reading →

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Why only small business can save America

Posted on August 9, 2011 by BrianCoester

–USA Today The bad news is all around us and never seems to end. If it’s not Tea Party Republicans who somehow, shockingly seemed willing to allow the country to go into default before they would accept even the most … Continue reading →

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20 Percent Down For Home Purchase The New Standard, Again?

Posted on August 4, 2011 by BrianCoester

–The Real Estate Bloggers The housing market may be getting a little tighter in a couple of months. The bureaucrats working on enacting some of the provisions of the Dodd-Frank reforms have interpreted the loosely written laws to require homes … Continue reading →

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Bulldoze: The New Way To Foreclose

Posted on August 1, 2011 by BrianCoester

–Yahoo! Banks have a new remedy to America’s ailing housing market: Bulldozers. There are nearly 1.7 million homes in the U.S. in some state of foreclosure. Banks already own some of these homes and will soon have repossessed many more. … Continue reading →

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