Bank News | Home Foreclosure Prevention

Archive for the 'Bank News' Category

Will the Fed Buying Bad Credit Home Loans Help Housing and Credit Markets Recover?

Wednesday, November 26th, 2008

The Federal Reserve said Tuesday it will buy up to $600 billion in mortgage-backed assets in another attempt to deal with the financial crisis.  The Fed agreed to purchase $100 billion in direct obligations from mortgage giants Fannie Mae and Freddie Mac as well as the Federal Home Loan Banks. It also will purchase another $500 billion [...]

Home Loan Modifications May Still Pose Risk For Banks

Thursday, November 20th, 2008

Banks who provide mortgage loan modifications for homeowners could potentially undermine the publically traded banking sector by masking possible losses.  Historical evidence suggests that even when mortgage lenders modify mortgage terms for at-risk borrowers – cutting interest rates, principal or extending the loan’s life – a hefty portion of those borrowers default within a year [...]

HSBC Expands Home Loan Modification Options

Tuesday, November 18th, 2008

HSBC was one of the first mortgage banks that were affected by the subprime-mortgage meltdown. Changing the terms with some loan modifications for a portfolio of questionable home loans has failed to keep borrowers from defaulting.  The British banking giant, which bought an Illinois subprime mortgage lender called Household International Inc. in 2003, has modified [...]