Fannie-Freddie Announce New Streamline Modification Program - Why would you care?
Before I address this topic, I want to make sure you are aware that this is NOT HARP 3.0! This is for servicers only, and is another available tool in the suite of tools that are available to borrowers who are in danger of losing their homes to foreclosure, and acts as another option for delinquent borrowers to save their home.
Banks Revive Risky Mortgage Securities
The alchemists of Wall Street are at it again.
The banks that created risky amalgams of mortgages and loans during the boom — the kind that went so wrong during the bust — are busily reviving the same types of investments that many thought were gone for good. Once more, arcane-sounding financial products like collateralized debt obligations are being minted on Wall Street.
Obstacles Remain for the Housing Recovery
Considering how quickly the housing market has paced a recovery over the past three quarters, it would be tempting to assume that the rebound is so strong as to not face likely economic opposition. Property values have risen in tandem with new home sales, and America’s property sector has become so appealing that it is even attracting aggressive foreign investment. Homebuilder earnings have also jumped drastically, suggesting that positive gains in the housing market are having ripples across other sectors, especially corporate profits. In fact, much of the gains in the housing market seem to have emerged in the wake of dissipating anxieties, as consumer confidence has largely sustained positive housing sector behavior through the first months of 2013.