New home sales still at a slow recovery

By Rick Taylor | October 27, 2010 |

New homes sales moves up higher is September according to government figures reported Wednesday, but the recovery from the all-time lows reached earlier this year are still at slow pace. Sales of new built single-family homes rose to an annual rate of 307,000 units in September from 288,000 units the month before, the Commerce Department…

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Mortgage-Finance Quick Fix Unlikely

By Rick Taylor | October 25, 2010 |

Weakness in the U.S. housing market will make it impossible for the federal government to withdraw its support for the mortgage-finance system in the coming year, Freddie Mac Chief Executive Officer Charles E. Haldeman said. Freddie Mac and Fannie Mae, the government-sponsored firms that own or control half of the U.S. mortgage market, have been…

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Feds Wants Banks to Handle Bad Credit Mortgage

By Virginia Morgan | August 17, 2010 |

– The Federal Reserve Bank of New York as well as several giant investment companies including Pinco and Blackrock are demanding that the Bank of America to buy back some of the bad credit mortgage. The total for such amounts to an estimate of $2 trillion or mortgage secruities from the year 2004-2008. This so-called…

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