Mortgage financing giant Fannie Mae
announces policy changes designed to encourage borrowers to "work with their servicers and pursue alternatives to foreclosure"...and threatens borrowers with new penalties for strategic default.
[more inside]
posted by 2bucksplus
on Jul 1, 2010 -
44 comments
Betting Against the American Dream. In 2005, just as Wall Street started to get cold feet about the housing market, the
Magnetar hedge fund helped create a new wave of billion-dollar mortgage-backed securities, pushed bankers to include riskier sub-prime mortgages, and then shorted the securities, making millions when the bubble finally burst. Traders on both sides of the deals pocketed enormous fees even if their banks went under when the securities failed.
Pulitzer Prize-winning ProPublica,
This American Life, and NPR's
Planet Money track down some of the big winners in the housing/financial crisis. No time to read or listen? It seemed so much like a scheme from
The Producers, they even recorded
a show tune to explain it all. (
Previously,
2,
3)
posted by straight
on Apr 15, 2010 -
30 comments
Will States Respond to the Foreclosure Crisis? Their headline is that 1 in 33 homeowners are projected to face foreclosure in the next two years. But I found the stat that neighboring homes will lose $356 billion in value a rather staggering number to swallow for those not facing the threat of foreclosure.
posted by jacobw
on Apr 17, 2008 -
65 comments
