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Tag Archives: Federal Reserve
“Skin in the Game” rules:
Firms who want to package loans and other assets into securities will now how have to retain 5% of the credit risk if today’s SEC draft proposal holds. According to today’s Wall Street Journal, the SEC added its draft proposal today to those of the Federal Reserve and Federal Deposit Insurance Corporation issued earlier this week. In a move that they hope will lead… Continue reading
If you join FNC’s free webinar this Tuesday at 1 p.m. (CDT), you will learn how to use our new free online Residential Price Index—and how to pinpoint zip codes that are recovering economically and ripe for investment as well as those buffeted and battered. (Those of you in Florida and Texas will find this particularly interesting).
You can register by clicking here.
In the meantime, here are the… Continue reading
The Congressman who cosponsored the sweeping financial reform act told Fox News that he believes Fannie Mae and Freddie Mac should be scrapped. Barney Frank, chairman of the House Financial Services Committee, was asked by Fox Business Network’s Neil Cavuto what role Fannie and Freddie should play in housing markets.
“I think they should be abolished,” Frank replied. “The only question is what do you put in their place. This… Continue reading
Fannie Mae and the National Council of State Housing Agencies have a fabulous offer for anyone with an income and good credit–buy a house for just $1,000 down. (Normally, Federal Housing Authority mortgages require a 3.5% down payment.)
It is a pilot program called Affordable Advantage. The Washington Independent reports that the program has been adopted in Massachusetts, Wisconsin, Idaho and Pennsylvania, California and Colorado have programs almost identical to… Continue reading