Blog entries tagged Policy

Geithner: Careful Who You Listen To

Nick Will — Mon, 22 Mar 2010 20:10:37 +0100

Disregard my grammar, I know it should be "to whom you listen." Sounds weird. More importantly, in comments released by Treasury moments ago about Sec. Geithner's statement today on financial reform to the American Enterprise Institute. Let's hope his words are heeded by Chris Dodd and congress more broadly. Words meet action, please...

Listen less to those who told us all they were the masters of noble financial innovation and sophisticated risk management. Listen less to those who complaRead More...

Sen to Punch Financial Industry in Speech Today

Nick Will — Thu, 11 Mar 2010 15:49:41 +0100

This is welcome news, courtesy of MIT Professor Simon Johnson, a notice that Sen. Ted Kaufman (Delaware) is set to lay down a few tenets that underscore the nation's financial situation. And he's spot on.

According to Kaufman's website, he will say: 1. Excessive deregulation allowed big finance to get out of control from the 1980s -- but particularly during and after the 1990s. This led directly to the economic catastrophe in 2007-08. 2. We need to modernize Read More...

White House May Ban Some Foreclosures

Nick Will — Sun, 28 Feb 2010 16:20:54 +0100

The inestimable Dawn Kopecki of Bloomberg posts this headline yesterday about some possible White House moves to ban some foreclosures -- at least for people under review for permanent loan modification. Right now, foreclosures are still allowed even while homeowners are under review for a loan modification program. Apparently the action under consideration at The White House would now allow foreclosure during that period. This would help. It would help homeowners acting in goodRead More...

FHA Needs Funds: You Read It Here 6 Weeks Ago

Nick Will — Fri, 13 Nov 2009 00:30:26 +0100

Okay so reading this blog is like getting the news 6 weeks early. Granted, I thought it would make the news at the end of September, and here it is in today's Times:

The Federal Housing Administration said Thursday that its cash reserves had dwindled significantly in the last year as housing prices slumped and many of its borrowers defaulted on their mortgages.

Still, government housing officials stressed that the agency, which insures loans made by private lenders, Read More...

First Time Home Buyer Tax Credit to 04-2010 This Week?

Nick Will — Wed, 04 Nov 2009 12:27:23 +0100

The Seattle Post PI.com is reporting that after clearing a Senate hurdle this week that the New Home Buyer Tax Credit of $8,000 is widely expected to pass congress this week to extend the credit into the spring season of 2010, which would be most welcome across the country. The program essentially creates a refundable $8,000 tax credit for qualified first-time home buyer tax credits (some limitations apply and "first" doesn't always mean "first"). This is very welcome news.

Rules on Choice of Title Company - Buyer Be(A)ware

Nick Will — Tue, 03 Nov 2009 01:24:14 +0100

The Real Estate Settlement Procedures Act was passed by the U.S. Congress in 2008 to govern certain aspects of closing most residential transactions in the United States. RESPA had a giant impact on how business is conducted in certain segments of the real estate industry, especially in title/escrow companies and mortgage lending companies.

The Housing and Urban Development Agency is the regulator of the Act, as it is the closing statements used in most residential transactRead More...

What is a Title Commitment

Anna Gonzales — Wed, 07 Oct 2009 13:03:46 +0100

The first time you receive a copy of a title company commitment, you might find it difficult to understand. Actually, the commitment is an easy document to read. Once familiar with the commitment, it becomes a road map to follow to ensure that the property being transferred is in insurable condition.

Explanation:

Schedule "A" - Information regarding policy or policies issued. Who is receiving the insurance and who has the right to deed our their interest.

Date - This is thRead More...