All Posts Tagged Home Loans

From the “We’ll Keep This Mortgage Mess Unrealistically Propped Up Until It Kills Us” Files

February 18th, 2009 | 2 comments

President Barack Obama on fixing the home mortgage crisis (emphasis mine): Right now, Fannie Mae and Freddie Mac — the institutions that guarantee home loans for millions of middle-class families — are generally not permitted to guarantee refinancing for mortgages valued at more than 80 percent of the home’s worth. So families who are underwater [...]

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Banks already “paying it forward”

January 22nd, 2008 | No comments

It looks good on paper. The Fed lowered rates 75 bips, and as you might guess the banking stocks rallied soon thereafter. It makes perfect sense – they’re getting cheaper money, which is supposed to help margins. Hours later there’s another move afoot – “emergency” prime rate reductions. Both M & T and National City [...]

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Fannie Mae debacle has no oomph

May 27th, 2006 | No comments

So lets give it some before the situation spirals even further out of control. The Washington Post reports: Study Finds ‘Extensive’ Fraud at Fannie Mae. I’ve hinted that where there’s fraud, there are usually bigger problems, and in the case of Fannie Mae I think there is a lot more to the story than just [...]

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