Mortgage and Lending Related: Reps and Warrants, Fed Buying, Home …

Homebuyer Tax Credits Threaten the FHA – By ROBERT C.

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Mortgage and Lending Related: Reps and Warrants, Fed Buying, Home …

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    1. In order to own a mortgage, you have to buy mortgage insurance for it (which, by the way, is for the bank if you default NOT you), in addition to the fire and hazard, flood, and disaster insurance for your house. ..... Not to start another debate, but government pressured banks to issue home loans to those who could not afford it (to pad numbers), and after a decade the racket collapsed, and government was there to point at, bail out, and ?reform? their scapegoat: the ...

    1. The Fed will purchase an additional $750 billion of agency mortgage-backed securities, for a total of $1.25 trillion in 2009. It also will increase its purchases of agency debt by $100 billion, for a total of up to $200 billion this year. ..... The House of Representatives has passed H.R. 1106, the Helping Families Save Their Homes Act of 2009, also known as the ?cramdown? bill, would allow bankruptcy judges to modify the loan terms for families with existing mortgages on ...

    1. If only $10 billion is successfully passed back to the banks for false representations and warranties, and half of this is written off, each of the four big banks will be facing $1 billion at least in losses. ...