{"id":64956,"date":"2009-12-05T11:13:12","date_gmt":"2009-12-05T16:13:12","guid":{"rendered":"http:\/\/mortgagenewsclips.com\/2009\/12\/05\/mortgage-housing-related-street-shame-stiglitz-fannie-freddie-fha-on-reserves-and-tougher-underwriting-alt-a-downgrades\/"},"modified":"2009-12-05T11:13:12","modified_gmt":"2009-12-05T16:13:12","slug":"mortgage-housing-related-street-shame-stiglitz-%e2%80%93-fannie-%e2%80%93-freddie-fha-on-reserves-and-tougher-underwriting-alt-a-downgrades","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/64956","title":{"rendered":"Mortgage & Housing Related: Street Shame, Stiglitz \u2013 Fannie \u2013 Freddie, FHA on Reserves and Tougher Underwriting, Alt-A Downgrades"},"content":{"rendered":"

\"Bill-Coppedge\"<\/a> \"original<\/a> <\/p>\n

 <\/p>\n

\"robert-reich-blog\"<\/a> <\/p>\n

The Housing Crisis and Wall Street Shame<\/strong> –  One out of four homeowners is now under water<\/strong>, owing more on their homes than the homes are worth. Why? The biggest single factor behind the housing crisis is rising unemployment.<\/strong> According to the latest ABC-Washington Post poll, one out of every three Americans has either lost their job or lives in a household with someone who has lost a job. Today it takes two and sometimes three incomes to buy the groceries and pay the mortgage or the rent. So if one of those incomes is gone, a homeowner can’t make the payment<\/strong>.  – Robert Reich’s Blog<\/a><\/p>\n

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\"clusterstock\"<\/a> <\/p>\n

How Joseph Stiglitz Blew It On Fannie And Freddie<\/strong> – John Carney – How could three prominent economists have been so dumb-foundingly wrong about the systemic risk of Fannie Mae and Freddie Mac?  Today\u2019s Wall Street Journal discusses a 2002 paper declaring that “on the basis of historical experience, the risk to the government from a potential default on GSE debt is effectively zero.”<\/strong> It\u2019s authors were  Jonathan Orzag, Peter Orszag and Joseph Stiglitz, who had won the Nobel prize in economics the year before. We’ve embedded it below so you can read the whole thing. … – Business Insider at Clusterstock<\/a>
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\"wsj\"<\/a> <\/p>\n

FHA Considers Ways to Boost Its Reserves<\/strong> – By NICK TIMIRAOS – … Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, plans to ask Congress on Wednesday to raise the cap on the annual insurance premium that the FHA can charge borrowers. … The FHA will also limit the amount of money that sellers can provide for closing costs on home sales to 3% of the home price, from the current level of 6%.<\/strong> … – Wall Street Journal<\/a> <\/p>\n

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\"washington-post\"<\/a> <\/p>\n

FHA to toughen rules for borrowers<\/strong> – By Dina ElBoghdady – The Federal Housing Administration is proposing to increase the up-front cash paid by borrowers<\/strong> as part of an effort to shore up the agency’s finances, which have been staggered by rising defaults in its flagship mortgage insurance program, according to FHA officials.  The changes also include raising minimum credit scores<\/strong> for borrowers who receive FHA-backed mortgages and limiting the amount of money sellers can kick in, including paying closing costs or giving free upgrades. – Washington Post<\/a>  <\/p>\n

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 \"sandp1\"<\/a>   \"resrecap\"<\/a> <\/p>\n

S&P downgrades 226 classes of 2002-2004 Alt-A Residential Mortgage-backed Securities<\/strong> – Research Recap<\/a><\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

  The Housing Crisis and Wall Street Shame –  One out of four homeowners is now under water, owing more on their homes than the homes are worth. Why? The biggest single factor behind the housing crisis is rising unemployment. According to the latest ABC-Washington Post poll, one out of every three Americans has either […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-64956","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/64956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=64956"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/64956\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=64956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=64956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=64956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}