Hold the foreclosures, Congress says
The House Financial Services Committee has sent a letter to key lenders and trade groups strongly urging the mortgage industry to hold off on foreclosures for potentially qualified homeowners for the next several months while a new FHA rescue program gets underway. Mon, 11 Aug 2008 00:00:00 EST
Market crisis pinned on ABS, RMBS
A new study says that the “subprime crisis” had less to do with subprime loans, and more to do with a shift of the GSEs in the credit market in 2003 and the growth of asset-backed securities and residential mortgage-backed securities. Say what? Read on to learn what happened in 2003 that researchers now say triggered the collapse of the mortgage industry. Mon, 04 Aug 2008 00:00:00 EST
