April 2, 2008
On Monday, Treasury Secretary Henry Paulson presented his blueprint to overhaul the way the U.S. regulates its financial system. If implemented, the plan would significantly alter the way banks, brokerages and insurance companies conduct their business. Some of the suggested changes would establish consistent licensing standards for mortgage lenders. Another proposal, strongly opposed by the banking industry, may eliminate thrifts that once funded a major share of mortgage loans for new home buyers.
January 23, 2008
After global financial markets took a dive Monday on fears that the world’s largest economy was headed toward recession, the Federal Reserve took swift and immediate action. In an emergency meeting, the Fed cut its overnight lending rate by 75 basis …
January 14, 2008
It’s in the news daily…banks closing their mortgage divisions, lenders writing off billions of dollars in subprime mortgage debt, the Federal Reserve holding auctions to inject more money into the financial system. With all the doom and gloom, you might think that the prospect of …
January 7, 2008
It happens in the insurance industry all the time. You have a car accident, then boom…your insurance company raises your auto insurance premiums. The greater the risk…the more you pay for your insurance. In the wake of the subprime mortgage …
December 17, 2007
Last week, after the Federal Reserve announced it would cut the fed funds target rate and discount rates by 25 basis points each, equity prices plunged, with the Standard & Poors dropping 2.5% on the day. Investors and many analysts, …
December 10, 2007
No one likes to hear about people losing their homes in foreclosure, but industry analysts predict that real estate markets across the country will see a rash of home foreclosures through 2008 and into 2009. Many homeowners with sub-prime adjustable-rate mortgages …
December 4, 2007
On Friday, the Wall Street Journal reported that the Bush administration is working with some of the big mortgage lenders on a plan to reduce foreclosures and loan defaults by freezing interest rates on subprime adjustable-rate mortgages (ARMs). Treasury Secretary Henry Paulson and …
March 16, 2007
Typically, homeowners start thinking about refinancing when there’s a sudden decline in interest rates or if there’s a change in their financial situation. Even though a sharp decline in interest rates could make refinancing appear like a no brainer, you should …
March 14, 2007
What Points Are All about
A point is one percent of the total mortgage loan amount - a fee or cost incurred by the borrower in a loan transaction. By paying points (loan discount points), borrowers can get a lower interest rate …
February 15, 2007
Should You Refinance In 2007?With many experts predicting a rise in interest rates in 2007, expect a flurry of refinancing activity as new home owners seek to bail out of adjustable loans. …
