New Orleans If there is anyone over the age of 10 years old that has any doubt that the pure and simple, unchecked greed of banks caused the mortgage meltdown triggering the Great Recession, please read, and listen carefully. Information now coming out on the dealings between Morgan Stanley, the Wall Street behemoth that acted as …
Tag: mortgage loans
New and Better Mortgage Lending Standards Maybe
New Orleans The press is making a big deal of Mel Watt’s comments as the chief housing regulator at the Federal Housing Finance Agency to the Mortgage Bankers Association’s convention in Vegas. He claims he has a new plan to loosen up the rules so that banks finally lend some money to first-time buyers and …
Little Change on Foreclosure Modifications but Subprime Loans are Back
New Orleans In the US we are seven years out from the Great Recession, depending on how you count the pain and mark the scars. Homeowners have lost their homes through 7 million foreclosures in that period. More than 9 million homeowners are still underwater, owing more than the value of their homes now, with the banks, like …