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Sat Nov 21, 2009
Rep. Barney Frank is once again pushing a mortgage relief program to assist the growing number of homeowners who find themselves without a job – now the primary driver behind mortgage defaults.
Under his proposal, some of the $12 billion that the Treasury has gotten back from banks for TARP bailouts would be used to issue low-interest emergency loans to unemployed homeowners who are struggling to make their mortgage payments.
While most lawmakers are calling for TARP to expire at year-end, Frank says he would support an extension if it included provisions for jobless homeowners.
The U.S. Department of the Treasury is putting stock warrants it received for investments made in several large banks on the auction block. Treasury obtained warrants through the capital injections it provided to financial institutions nearly a year ago under the $700 billion Troubled Asset Relief Program (TARP).
While the Department has worked directly with other banks to negotiate buy-back prices for their warrants, it was unable to reach an agreement over the value of the warrants from J.P. Morgan, Capital One, and TCF Financial. The Treasury’s warrant positions in these three institutions will be sold at public auctions over the next month.
First American CoreLogic forecasts a rebound in housing prices in March of next year. Read More
The Mortgage Bankers Association (MBA) reported this week that a record number of loans is delinquent, and 1 in 22 families in the United States is in the process of losing their home. Based on these figures, the Center ... read more
TenantAccess, a provider of property preservation, management, and leasing services, has expanded its presence with 348 property managers located throughout the United States. According to the company's president, Paul H ... read more
Vacancy rates are up. Rent prices are down. Credit availability remains unknown. This combination has provided an uncertain forecast for when the commercial real estate market will recover, according to the National ... read more
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