bernake: Who is Helping People with New Mortgages? - 12/19/08 06:14 AM
People taking out new mortgages must be very cautious but soon they may have new protections if the Fed has any say.
The Fed is proposing rules to protect borrowers (even marginal borrowers) against shady lending practices and this would apply to loans made by all types of lenders including banks and brokers.
Remember that the Fed has regulatory powers over the nation's financial system (though they never seemed to care until this recent sub-prime crisis).  The plan will hopefully be finalized in the first part of 2008, with no "effective date" known at this time.
Here are some things the … (0 comments)

bernake: Bernanke…Pinpoints Housing as Road to Recovery - 11/04/08 09:59 AM
Well, it seems like Bernanke understands it.  He has hinted that the economy will ride its road to recovery when the housing market recovers.  And he recently outlined a number of possible ways to structure housing finance but did not state his own preferences, as reported by Jeff Collins at the O.C. Register.
Bernanke thinks that in this aftermath of the housing finance system, the reconstruction of finance will need better safeguards to allow it to function during times of stress.  He also wants the new lending systemizations not to pose a systemic risk to our financial markets and the economy.
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Michael A. Caruso (Surterre Properties)

Michael A. Caruso

Laguna Niguel, CA

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