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loans: Sure...The Banks Aren't Being Bailed Out. - 03/11/08 03:16 PM
It may not be official, but the banks are being bailed out. Let me prove it.
The federal funds rate is the rate that banks can charge each other for overnight or short term loans. They can also borrow money from the government at this rate, which is currently at 3%. The feds raise this money by selling government backed bonds, which at this moment are being sold every two weeks at a whopping $20 billion bi-weekly. The feds have just increased that this month to $60 billion bi-weekly because of the extraordinary demand for them.
Here is where the problems come … (1 comments)

loans: Red Alert: H.R. 3915 Passed The House! - 11/19/07 10:22 PM
For those of you who don't know what HR 3915 is here is a breakdown. It will:
Create a National Licensing System for Mortgage LendersHold loan securitizers responsible for consumers' "reasonable ability" to repay a loanEliminate the Y.S.P. (Yield Spread Premiums or Rebates) for Mortgage BrokersIt passed by a vote of 291-127. It still has to go through the Senate, and even if it passes there, I am not sure President Bush would sign off on it. However, it has already cleared one major hurdle and only two to go.
The Chairman of the Mortgage Bankers Association, Kieran Quinn stated "Have no doubt, this … (1 comments)

 

Charles Tharp ~ Inland Empire Real Estate & Short Sale Specialist

Fontana, CA

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Prudential California Realty

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