HomesIn an op-ed written for the Washington Post, former treasury secretary Hank Paulson says government policies promoting homeownership fueled the housing crisis and, once the market has stabilized, should be dramatically reformed. Specifically, he recommends scaling back both Fannie Mae and Freddie Mac and reducing subsidies for homeownership. Limiting the availability of subsidies to smaller mortgages or lower-income buyers would reduce the scope of the government's role and lead to less risk to taxpayers and the economy. Former Federal Reserve Chairman Paul Volcker also weighed in on the debate in an article from SmartMoney magazine. Volcker says Fannie Mae and Freddie Mac are unnecessary and should be eliminated because of the inherent conflict between their responsibilities to the government and their stockholders. He believes the entire mortgage market has to be reconstructed in the coming years. More here and here.

Michael Pond

Branch Manager/Loan Officer, NMLS 108672

Envoy Mortgage, NMLS 6666

704-517-2250 cell

 

 

Obama Discouraging Homeownership and Encouraging Affordable Rentals -…
07/31/2010
share
What a great summary of where our country is headed. This is a dangerous time for our industry and our country. Via Gina Chirico, Specializing in Essex County and the Communities of West Essex (Lattimer Realty) : According to an article I read on… more
Housing Recovery to Start in 2011
07/30/2010
share
We are gaining ground slowly. The upcoming financial reform legislation will play a BIG role in how quickly or slowly we do recover. The implementation will be tricky. Dan Greenhaus, chief economic strategist at Miller Tabak & Co., says the… more
Foreclosures Rise in 75 Percent of Major Metro Areas
07/29/2010
share
Foreclosure activity rose in 75 percent of the nation's top metro areas during the first half of the year compared to 2009. RealtyTrac's Midyear 2010 Metropolitan Foreclosure Market Report shows 154 of the 206 metropolitan areas with a population… more
Purchase demand UP for 2nd week in a row!
07/28/2010
share
According to The Mortgage Bankers Association's Weekly Applications Survey demand for purchase loans was up 2. 0 percent last week. But despite the highest Purchase Index in a month, the Refinance Index fell 5. 9 percent, bringing the measure of… more
New Home Sales Jump!
07/27/2010
share
Following a record low in May, new home sales surged 23. 6 percent in June, according to estimates from the U. S. Census Bureau and the Department of Housing and Urban Development The better than expected recovery is misleading, however. Year-over… more
Mixed News On Home Prices
07/27/2010
share
According to Standard & Poor's Case-Shiller Home Price Indices prices rose 1. 3 percent in May from April and 4. 6 percent from 2009. But despite the improvement, David M. Blitzer, Chairman of the Index Committee at Standard & Poor's,… more
Mortgage Rates and Home Prices and Stablization
07/23/2010
share
Drew Kessler, managing director of Rand Mortgage, believes interest rates won't fall much further than they have already and feels prices will stabilize through the end of the year. CLICK BELOW FOR THE VIDEO LINK OF HIS INTERVIEW: http:/… more
Existing Home Sales Fall Less than Expected
07/22/2010
share
Sales of existing homes fell less than economists expected in June, according to a report from The National Association of Realtors Sales were down 5. 1 percent but, despite the downturn, up 9. 8 percent from the year before. Lawrence Yun, NAR's… more
Interest Rates Hit New Low, Spur Demand
07/21/2010
share
According to The Mortgage Bankers Association's Weekly Applications Survey the average contract interest rate for 30-year fixed-rate mortgages fell to 4. 59 percent last week from 4. 69 percent the week before. The 0. 10 percent drop brought rates to… more
 
Img_9723_mpwithsky

Michael Pond

The Michael Pond Team

Charlotte, NC

More about me…

Envoy Mortgage

Address: 16147 Lancaster Highway, Suite 100, Charlotte, NC, 28277

Office Phone: (704) 517-2250

Email Me

News, tips and program highlights


Links

Archives

RSS 2.0 Feed for this blog