Tag: SubprimeMortgages

  • Subprime Loans Make a Comeback

    Subprime Loans Make a Comeback

    Since the housing market crash, loans have been hard to come by for many folks, even those with decent credit. But for borrowers with less-than-stellar credit, getting a mortgage has been well-nigh impossible. The Wall Street Journal is out today with news that a handful of private investment firms are stepping... Continue Reading

  • The Rise and Fall of Fannie Mae: A Timeline

    The Rise and Fall of Fannie Mae: A Timeline

    Fannie Mae and Freddie Mac were in the news a lot this year. For starters, there was the presidential summit in August, to solicit ideas for what to do with the ailing government-sponsored enterprises (GSEs for short). That was followed by midterm-election wrangling over whether to replace the struggling... Continue Reading

  • Consumer Protection? Read the Fine Print

    Consumer Protection? Read the Fine Print

    After months of delay, on Friday the House of Representatives passed its "Wall Street Reform and Consumer Protection Act," 223-202. That fairly tight vote should tell you something: this reform is a 1279-page tissue of compromise. Let's leave the first part to others to dissect, for now, and focus on what... Continue Reading

  • Who's Financing Bad Mortgages Now: Uncle Sam

    Who's Financing Bad Mortgages Now: Uncle Sam

    When Fannie Mae, Freddie Mac and the Wall Street mortgage-backed securities machine all went the way of King Kong and Godzilla last year, that left just one home finance giant standing: the Government National Mortgage Association, or Ginnie Mae. Ginnie Mae bundles together mortgages into securities, and backs... Continue Reading