Word: mortgagees
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Dates: during 2000-2009
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Under the Treasury Department's program, up to $75 billion will be spent in an effort to prevent as many as 9 million people from losing their homes. "Much of this money is going directly to the same financial institutions that helped create the subprime-mortgage mess in the first...
Others expected to cash in through the program are JPMorgan Chase, which could collect up to $3.4 billion when its EMC Mortgage subsidiary is included, and Wells Fargo, which could get up to $3.1 billion when its Wachovia subsidiaries are included, the report said. Even a former subsidiary of Lehman...
An alternative to HAMP would be the proposed "cramdown" legislation, whereby a bankruptcy judge would be given carte blanche power to modify a loan by lowering the interest rate, reducing the principal amount or extending the term of the loan to make the monthly mortgage payments more affordable to the...
Even if house prices and sales are on the mend, that doesn't equate to a clean bill of health for housing overall, since woes in the mortgage sector continue to surface. Another number out this week was the delinquency rate among loans backed by the federal housing agency Freddie...
One culprit, of course, is the economy. A person who has lost a job is going to have a tougher time making the mortgage payment. On top of that, a lot of the moratoriums on foreclosures that lenders put into place while the Obama Administration figured out its loan-rewrite...