Archive for the ‘Lenders’ tag
Why Short-Term Trends In Housing Are Super-Important To Home Buyers
Consumer confidence is registering all-time lows and it’s no surprise why. Americans are bombarded by bad economic news day after day. Oil prices reach new highs Stock prices reach new lows Lenders are getting sued The weight of the gloom drags down the economy and the press is quick to report on…
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Fed is Moving into Consumer Protection Role on Mortgages
Speaking at the Federal Reserve open meeting on mortgage
rules, Federal Reserve Chairman Ben Bernanke said the new rules
will be aimed at protecting consumers from deceptive practices.
Bernanke said that the new rules would apply to all mortgage lenders,
as delinquencies and foreclosures continue to grow rapidly. Bernanke
pointed to deceptive practices as the key reason for the inappropriately
high cost of loans.
The new rules ban prepayment penalties on mortgage
loans whose…
Fed Minutes Says Bear Stearns Actions, Primary Lending Facility Necessary
In the minutes released from a meeting of Fed
Governors to approve Bear Stearns’ acquisition by JPMorgan and the
establishment of a lending facility to primary lenders on March 14 and
16, the Fed reaffirmed that the moves were “based on recent, rapidly
changing developments.”