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With the House and Senate working to hammer out differences in their respective approaches to solving the housing/credit crisis, problems are already emerging with other solutions proposed or enacted tackle pieces of the problem. The New York Times reported on Wednesday that there are real problems with...
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Fannie Mae's Managing Director, Brian Faith, released a statement on Wednesday that gave notice that at least one of the two government sponsored enterprises (GSEs) that play a major role in the nation�s mortgage industry has decided it would be wise to protect its own interests. Government lawmakers...
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The Federal Reserve has released the October 2007 Senior Loan Officer Opinion Survey on Bank Lending Practices which addresses changes in the supply of and demand for bank loans both to businesses and consumers over the previous three months which, we presume, corresponds to the third quarter of 2007...
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Several Executive Branch surrogates indicated late last week that the Administration was sort of willing to compromise about the role of Freddie Mac and Fannie Mae in solving the current credit crunch. But the announcements made and the methods proposed seem to this reporter to be little, late, and misdirected...
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Probably no one who has read a paper or a website in the last 60 days expected anything different, but the monthly report from the National Association of Realtors (NAR) on Tuesday confirmed that once again the sales of existing homes fell in August. Total existing home sales which include single family...
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The National Association of Realtors (NAR) issued its monthly forecast for the housing industry on September 11, offering hope that the current problems in the market will merely postpone an expected recovery in existing home sales until some point in 2008. Lawrence Yun, senior economist for NAR said...
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IndyMac Bank announced today that it will resume originating prime, single-family residential, full doc jumbo loans after they temporarily reduced the origination of these products due to the recent credit cruch in the secondary markets. "Given our strong financial position, we are fully committed to...
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The Office of Federal Housing Enterprise Oversight (OFHEO), the agency charged with keeping an eye on Freddie Mac and Fannie Mae has alerted lenders that conforming loan limits for the next year may be subject to falling rather than rising for the first time in years. These limits determine the maximum...
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The House of Representatives voted 331 to 90 on Wednesday to revamp the oversight of Freddie Mac, Fannie Mae, and the Federal Home Loan Bank. The legislation enables the creation of a new independent regulator with the authority to set capital standards, dismantle a company in financial trouble, and...
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Updated Conforming Loan Limits Tuesday, as it does every year, Fannie Mae raised the limit on single family conforming loans to $359,650 for 2005. This is an increase of almost eight percent from the 2004 limit of 333,700. Conforming loans are those that Fannie Mae will purchase from originators and...