Word: mortgagees
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The likes of Citi owned AAA-rated mortgage securities they thought were as safe as Treasury securities. That's what AAA means - or what they thought it meant. But since the rating agencies screwed up royally by not analyzing the securities properly - a whole other story - Citi et al. got...
I'm also angry because it's hugely difficult for even the most qualified people to get mortgage loans. Not to mention how hard it is for small and medium businesses. Having lent too much too easily, banks now don't want to lend at all - except to Uncle Sam...
The buying binge comes as commercial real estate rents and occupancy rates continue to plunge, leaving industry experts wondering if the rally was premature at best - and overdone at worst. "I'm a little bit more cautious in the near-term, given the rally that we've had and where...
There will be casualties. But REITs with access to capital could potentially pick up properties and mortgage assets at fire-sale prices. "[Well-capitalized REITs] are going to be the most competitive out there with their access to [low-cost] capital," says Tom Bohjalian, senior vice president and portfolio manager...
I am a homeowner and found it staggering that just the mortgage-interest and property-tax deductions amount to $96 billion per year. The elimination of those two deductions alone would virtually pay for health-care reform. I recall the fear expressed when the removal of interest deductions for auto...