| Search by tag or site | Login to my blog ? Start my own blog |
 |
Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
Bernanke Says Lenders Need More Options
Posted on 08/31/2007 13:57:20 | Link | Post Comment
Bernanke says lenders need more options
from MSNBC.com , reports that Federal Reserve Chairman Ben Bernanke, in a letter sent to Sen. Charles Schumer, suggested that policymakers look for ways to encourage a wider range of mortgages geared for low income borrowers who have been hard hit by the housing slump and credit crunch. Bernanke's letter also said the Fed is keeping close tabs on financial markets and is "prepared to act as needed" to make sure spreading credit problems don't hurt the economy. Bernanke said the development of "a broader range of mortgage products which are appropriate for low- and - moderate income borrowers, including those seeking to refinance" might help the situation. "Such products could be designed to avoid or mitigate the risk of prepayment shock and be more transparent with respect to their terms, " Bernanke said in his letter. He added "the Congress might wish to consider FHA reforms that allow the agency more flexibility to design new products and to collaborate with the private sector in facilitating the refinancing of creditworthy subprime borrowers facing large resets."
Douglas Ranch lead mighty developments
from the Arizona Republic , asks what's larger than Tempe and will take at least four decades to build out? The answer is Douglas Ranch, the largest of all current projects planned west of the White Tank Mountains in Buckeye. The master-planned community proposed by El Dorado Holdings on more than 35,000 acres is projected to break ground in 2010. Douglas Ranch is one of many new planned communities in Buckeye, including 20-master planned communities mapped out along the Sun Valley Parkway. Other projects include Pulte/Del Webb's Anthem and Sun City Festival, about 7,000-acres total; Belmont (by LKY Development), about 25,000-acres; Festival Ranch (by Lyle Anderson Co.), about 10,000-acres; Sun Valley (by Vanderbilt Farms), about 16,000-acres; and Tartesso (by Stardust Development), about 13,000-acres.
What, me worry?
If subprime lending represents only about 13 percent of the $10.4 trillion U.S. mortgage market, and only 5 percent of subprime loans totaling $67 billion in loans are in foreclosure, what's the big deal? At least half those losses will be recovered when foreclosed properties are sold, so we're looking at losses of maybe $34 billion -- or less then 1 percent of the total market. The problems in subprime lending are playing havoc with the stock market in a way that's out of proportion to their real impact on the economy.
That's the argument economist Ben Stein made in an Aug. 12 New York Times column (watch him delivering the same message the following week on CBS Sunday Morning). - Inman News
from MSNBC.com , reports that Federal Reserve Chairman Ben Bernanke, in a letter sent to Sen. Charles Schumer, suggested that policymakers look for ways to encourage a wider range of mortgages geared for low income borrowers who have been hard hit by the housing slump and credit crunch. Bernanke's letter also said the Fed is keeping close tabs on financial markets and is "prepared to act as needed" to make sure spreading credit problems don't hurt the economy. Bernanke said the development of "a broader range of mortgage products which are appropriate for low- and - moderate income borrowers, including those seeking to refinance" might help the situation. "Such products could be designed to avoid or mitigate the risk of prepayment shock and be more transparent with respect to their terms, " Bernanke said in his letter. He added "the Congress might wish to consider FHA reforms that allow the agency more flexibility to design new products and to collaborate with the private sector in facilitating the refinancing of creditworthy subprime borrowers facing large resets."
Douglas Ranch lead mighty developments
from the Arizona Republic , asks what's larger than Tempe and will take at least four decades to build out? The answer is Douglas Ranch, the largest of all current projects planned west of the White Tank Mountains in Buckeye. The master-planned community proposed by El Dorado Holdings on more than 35,000 acres is projected to break ground in 2010. Douglas Ranch is one of many new planned communities in Buckeye, including 20-master planned communities mapped out along the Sun Valley Parkway. Other projects include Pulte/Del Webb's Anthem and Sun City Festival, about 7,000-acres total; Belmont (by LKY Development), about 25,000-acres; Festival Ranch (by Lyle Anderson Co.), about 10,000-acres; Sun Valley (by Vanderbilt Farms), about 16,000-acres; and Tartesso (by Stardust Development), about 13,000-acres.
What, me worry?
If subprime lending represents only about 13 percent of the $10.4 trillion U.S. mortgage market, and only 5 percent of subprime loans totaling $67 billion in loans are in foreclosure, what's the big deal? At least half those losses will be recovered when foreclosed properties are sold, so we're looking at losses of maybe $34 billion -- or less then 1 percent of the total market. The problems in subprime lending are playing havoc with the stock market in a way that's out of proportion to their real impact on the economy.
That's the argument economist Ben Stein made in an Aug. 12 New York Times column (watch him delivering the same message the following week on CBS Sunday Morning). - Inman News
- How Housing Rescue Bill Can Help You
- Are The Financials Suddenly Cheap? Part III
- Canslim.net Morning Comment And Links (for Traders)
- Are Financials Suddenly Cheap? Part II
- Are Financials Suddenly Cheap?
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
- January 2008
- December 2007
- November 2007
- October 2007
- September 2007
- August 2007
- July 2007
- June 2007
- May 2007
- April 2007
- March 2007
- February 2007
- January 2007
- December 2006
- November 2006
- October 2006
- September 2006
- August 2006
- July 2006
- Millionaire Now!
- The 7 Steps to Millionaire Now!
- Build Your Financial Plan
- RETIRE RICH: Survival Guide
- ASSET ALLOCATION MODEL
- THE BIG ROLLOVER IS HERE
- THE END OF THE GRAND SUPERCYCLE?
Examples
Morpheus Trading - Mon Jul 21, 2008 08:33AM
NOTE: Please click on the charts below to enlarge them if [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
Morpheus Trading - Mon Jul 21, 2008 08:31AM
NOTE: Please click on the charts below to enlarge them i [read more]
NOTE: Please click on the charts below to enlarge them i [read more]
Millionaire Now! by Larry Nusbaum - Tue Jul 22, 2008 09:23AM
Hedge funds have made billions this year shorting the banks, [read more]
Hedge funds have made billions this year shorting the banks, [read more]
<< My Home | TheMoneyBlogs Home