President-elect Barack Obama’s economic team is expressing interest in a U.S. Treasury plan to spur homebuying through new securities aimed at driving down mortgage rates. Incoming White House economic chief Lawrence Summers is seeking details of the proposal from Columbia Business School Dean Glenn Hubbard, who put together the plan’s foundation with Columbia’s Christopher Mayer. [...]
Entries Tagged as 'Government Bailout'
Obama’s Team Encourages Treasury Mortgage
December 12th, 2008 · No Comments
Tags: Government Bailout
The Fed Launches Another Mortgage Bailout Plan
November 25th, 2008 · No Comments
The Federal Reserve threw a massive life-line to consumers on Tuesday with two new programs aimed at making it easier for them to obtain loans for homes, cars and on credit cards. Under the new mortgage program, the Fed will buy up to $100 billion of debt issued by government-sponsored mortgage enterprises Fannie Mae, Freddie [...]
Tags: Government Bailout
FDIC Seizes Downey Savings and Loan, PFF Bank and Trust, Community Bank of Loganville, Ga
November 21st, 2008 · No Comments
Breaking news from WashPost: Federal regulators seized three banks tonight, including Downey Savings and Loan Association, a large California mortgage lender, expanding what is by far the most expensive crop of bank failures in modern American history and indicating that the pace of failures is increasing. The Federal Deposit Insurance Corp., which took control of [...]
Tags: "mortgage modification" · Foreclosure Information · Government Bailout