News

2008

March

22

• Help from HUD to simplify statement. Almost anyone who has bought a house or taken out a mortgage in recent years knows the problems: Lenders' "good-faith estimates" of loan and settlement fees provided at application are too often off the mark.

20

• Democrats, Bush square off over housing relief. Now that the Federal Reserve has pledged billions of dollars to rescue Wall Street bankers from possible default, lawmakers and regulators are turning their attention to helping average citizens -- from homeowners in danger of

• Amplían rescate inmobiliario. El gobierno federal autorizó ayer a Freddie Mac y Fannie Mae, las más grandes operadoras hipotecarias del país, a reducir sus reservas estratégicas, con el fin de usar el capital cautivo para

• Temor a más fraudes hipotecarios. Expertos en el mercado de bienes raíces temen que la ayuda económica aprobada por el gobierno federal para aliviar el sector inmobiliario, aunado a las diversas rebajas en tasas de interés adoptadas

19

• Democrats draft plans for distressed homeowners. After the collapse over the weekend of one of Wall Street's biggest investment banks, Democrats in Congress said they plan to move quickly on legislation aimed at stabilizing financial markets by helping as many as 2

• Fannie, Freddie free to pump billions into mortgage market. The government has freed up billions of dollars at Fannie Mae (FNM) and Freddie Mac (FRE), money that can be used to help homeowners refinance mortgages on the brink of default. The Office of Federal

• A good name dragged down. One man went into a Glen Burnie, Md., Toyota dealership to buy a car, only to be told that a name check revealed he was on a U.S. Treasury Department watchlist of suspected terrorists

• Behind cheaper credit, inflation fears loom. The Federal Reserve Board's rate cut yesterday increased the chances that months of Fed moves could start to trickle down to homeowners in time to ease the pain when adjustable-rate mortgages reset this year. And

• Ordenan cierre de seis firmas hipotecarias. La Oficina del Procurador General del estado de California clausuró ayer seis oficinas hipotecarias de la zona metropolitana de Los Ángeles, alegando que los dueños emplearon métodos ilícitos para ofrecer "préstamos

18

• Why mortgage rates are still heading higher. The Federal Reserve is likely to cut interest rates again Tuesday, but don't expect mortgage rates to go down too. In fact, home loans could be heading higher. Consider recent history: The Fed issued an

• End of cheap credit hits homes, businesses. Mounting turmoil in credit markets could realign the finances of households and businesses, as banks scramble to bolster their balance sheets and jettison risky customers. For consumers, it could mean fewer credit card offers. For

• Más acciones correctivas del Fed. El Banco de Reserva Federal (Fed), que volvió a intervenir enérgicamente para evitar el pánico en los mercados, aprobará hoy otra bajada de las tasas de interés de entre tres cuartos y

• Acceso a la vivienda, problema mundial. La crisis de las hipotecas de alto riesgo (subprime) en Estados Unidos es apenas la punta del iceberg del problema de la vivienda en el mundo y una consecuencia del modelo económico que privilegia

17

• Fed cuts key interest rate, extends new credit. The Federal Reserve took dramatic action on multiple fronts last night to avert a crisis of the global financial system, backing the acquisition of wounded investment firm Bear Stearns and increasing the flow of money

• Easy loans are tougher to find. From the vantage point of his small Mumbai jewelry and pawnbroking shop, Raju Soni has gained a special insight into the state of India's credit market over the last six months. Low earners, who only

• Sub-prime mortgage watchdogs kept on leash. They could see the meltdown coming. Freelance financial watchdogs who examined the paperwork on sub-prime home loans being sold to Wall Street had an inside view of the boom in easy-money lending this decade. The

16

• How to avoid an audit—or prepare for one. As you file your tax return, do you wonder whether you're likely to get audited? You can take some comfort in the fact that audits are remarkably rare, hitting about 1% of taxpayers each year. However,

15

• Fighting back against corrupt appraisals. Property appraisers have been warning about it for a decade, and the real estate market is reaping the whirlwind: The home price declines around the country are partly the result of systemic, intentional overvaluations on

• HUD wants costs made clear to borrowers. Mortgage lenders would be required to give better estimates of closing costs and improve disclosure of payments to mortgage brokers under rules proposed Friday by the President Bush and the Department of Housing and Urban

12

• Bancos exigen más para dar préstamos. El crédito que podía obtener el lunes quizás ya no esté a su alcance el martes, pues los banqueros y prestamistas en general están endureciendo los requisitos mientras las ventas y