If ever there was a case of the proverbial pot calling the kettle black, it is the cluster of new financial "reform" regulations Washington politicians are trying to foist on the back of Wall Street.
Every time I write a column updating readers on the mortgage market, I find myself having to write another column updating the update. Today it's time for an update on the recently introduced "agency jumbo" mortgage rates available in various high-cost areas of the country, including the Washington area.
WASHINGTON (AP) Democratic officials say Barack Obama has begun a top-secret search for a running mate.
ASSOCIATED PRESS
Profits from government-sponsored mortgage giants Fannie Mae and Freddie Mac - not taxpayers - would back up a home loan rescues for struggling borrowers under a plan approved by a key Senate committee yesterday.
Sheila Bair logged onto her e-mail account recently and got a pop-up ad offering a $175,000 home loan with monthly payments of only $400.
House Democrats bring to the floor today a plan to stanch the home foreclosure crisis with measures that include government-backed mortgage refinancing and money for states to buy derelict homes, but Republicans say the $2.7 billion bill is nothing more than a "bailout scheme."
Regional
Once thought of as a safe haven from the collapse of the subprime mortgage market, Freddie Mac's stock has lost half its value in the past month as mortgage defaults and foreclosures increase.
