Items Tagged with 'Washington Post'

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  • Washington Post: Fannie and Freddie will soon offer modern mortgages for the gig economy

    GSEs want lending partners to offer home loans to new professionals
    As much as 43% of the U.S. workforce could be part of the gig economy by 2020. Those who work in the gig economy typically can't qualify for home loans, which is going to be a problem for the housing market if 43% of the workforce can't qualify for a home loan. Fannie and Freddie are working to find solutions to the issue.
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  • Curious Speculation on Reverse Mortgage Exits

    Reporting in The Washington Post, contributor Tom Kelly suggests that recent exits from the reverse mortgage market by Financial Freedom, Bank of America and Seattle Mortgage are the result of the new compensation rules.  He states that it is "curious how companies promote the launch of a new product or program but do little to inform consumers when it is no longer available."   His comment is somewhat "curious" as it suggests a lack of understanding of business operations.  Companies generally do not initiate large scale public relations campaigns on reductions in their operations unless necessary to respond to
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  • Treasury Updates GSE Support, and the Mainstream Misleads

    ‘Twas late in the day before Christmas and few - apparently - were expecting a big announcement from Treasury concerning Fannie and Freddie. And it was big. To make sure they got our attention, the Treasury un-characteristically issued the press release header in capital letters (cyber etiquette dictates that all caps is YELLING).
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  • Levitt: Proposed Accounting Changes Will 'Obscure' Impairments

    Former Securities and Exchange Commission chairman Arthur Levitt fired a strong volley Thursday morning against the so-called mark-to-market lobby in a Washington Post op-ed, saying that proposed changes to key accounting rules governing the valuation of distressed assets would "obscure" and potentially "bury" the full extent of impairments on bad loans and ill-advised investments made by banks and other financial institutions.
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  • Bernanke: Fed to Modify Mortgages

    The Federal Reserve may soon begin modifying mortgages it owns within the mortgage-backed assets it has purchased from government-sponsored entities, according to a letter written Tuesday by Fed chairman Ben Bernanke and addressed to Committee on Financial Services chairman Barney Frank, D-Mass.
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  • The Kitchen Sink for Jan. 20 & 21

    Welcome to another edition of the Kitchen Sink! Each weekend, while business news takes a breather, Housing Wire highlights interesting and newsworthy stories appearing in media outlets throughout the country as well as interesting blog discussions. Sunday's housing coverage is now included, so dive on in.
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