BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[White House, lenders, lawyers and borrowers: Nobody can agree on mortgage relief]]>http://www.bloggingstocks.com/2009/11/29/white-house-lenders-lawyers-and-borrowers-nobody-can-agree-on/http://www.bloggingstocks.com/2009/11/29/white-house-lenders-lawyers-and-borrowers-nobody-can-agree-on/http://www.bloggingstocks.com/2009/11/29/white-house-lenders-lawyers-and-borrowers-nobody-can-agree-on/#commentsFiled under: , , , , ,

If mortgage companies start to feel like they're losing elbow room, it's probably because they're starting to get nudged by the Obama administration. The folks in the White House are planning to kick off a campaign to squeeze mortgage companies to lower payments for even more borrowers who are in trouble. The $75 billion program, financed by taxpayers, to keep homeowners from falling into default appears to be in trouble.

Mortgage lenders have increased their efforts to modify borrowers' mortgages, but most of them are still in a trial stage, which will last up to five months. Only a handful have been made permanent, which isn't good enough for Washington. The Treasury Department's assistant secretary for financial institutions, Michael S. Barr, told the New York Times, "The banks are not doing a good enough job," continuing, "Some of the firms ought to be embarrassed, and they will be."

Continue reading White House, lenders, lawyers and borrowers: Nobody can agree on mortgage relief

White House, lenders, lawyers and borrowers: Nobody can agree on mortgage relief originally appeared on BloggingStocks on Sun, 29 Nov 2009 15:10:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>congressDepartment of the Treasuryfannie maeinthenewsJPMJPM Morgan Chasemortgage crisismortgage industrymortgage lendersmortgage lendingmortgagesObama AdministrationSenatetaxpayerstreasury departmentwhite houseSun, 29 Nov 2009 15:10:00 EST<![CDATA[Will Fed's bold move to finance investment bank debts calm markets?]]>http://www.bloggingstocks.com/2008/03/17/will-feds-bold-move-to-finance-investment-bank-debts-calm-marke/http://www.bloggingstocks.com/2008/03/17/will-feds-bold-move-to-finance-investment-bank-debts-calm-marke/http://www.bloggingstocks.com/2008/03/17/will-feds-bold-move-to-finance-investment-bank-debts-calm-marke/#commentsFiled under: , , ,

Fed Chairman Ben Bernanke made his boldest move to date overturning a 94-year Fed history of only funding commercial banks. Over the weekend the Fed announced it would become the lender of last resort for the biggest dealers in U.S. government bonds. That's huge!

As part of the deal to get rid of the "Bear Stearns problem," the Fed also agreed to help J.P. Morgan Chase (NYSE: JPM) buy Bear Stearns (NYSE: BSC) by offering $30 billion to help finance the purchase. Vincent Reinhart, former director of the Division of Monetary Affairs at the Fed, told Bloomberg, "It is a serious extension of putting the Federal Reserve's balance sheet in harm's way. That's got to tell you the economy is in a pretty precarious state."

Continue reading Will Fed's bold move to finance investment bank debts calm markets?

Will Fed's bold move to finance investment bank debts calm markets? originally appeared on BloggingStocks on Mon, 17 Mar 2008 08:55:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bear stearnsBearStearnsbscfeaturedFederal ReserveFederalReservejpmJPM Morgan ChaseJpmMorganChaseMon, 17 Mar 2008 08:55:00 EST