Word: mortgagee
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The National Association of Realtors (NAR) is lobbying for the U.S. government to artificially lower mortgage rates by purchasing loan points for home buyers. They say the program would cost $100 billion, and could raise home prices as much as 4% nationwide. Anyone buying a house for primary residence would...
Home buyers have long been able to purchase so-called loan points, which can lower the interest rate they have to pay on their mortgage. Generally, it costs 1% of the total amount of the loan to lower a mortgage rate by a quarter of a percent. That means on...
In times such as these, the rational thing to do is to ignore the front-page buzz and listen to what history and the numbers are saying: the odds are that stocks have further to fall, possibly much further. Short-term relief rallies, based on rays of hope that the...
• In between his stints in Washington, Emanuel got rich working as an investment banker. He once sat on the board of Freddie Mac and recuses himself from any Congressional votes on the mortgage giant.
When firms did steer clear of what was, in retrospect, excessive risk, the tone typically came from the top. Goldman Sachs, which has a long history of CEO interest in risk management and rotates its traders and risk managers through one another's jobs, pulled back from mortgage-related securities...