Wednesday, March 10, 2010
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3/10/2010 3:39 PM
There is a close-to-truth joke currently circulating around the HousingWire newsroom. Spoiler Alert: It’s not funny. OK, stop me if you’ve heard this: A spaceship lands in the last quarter of 2007 and the alien demands, “take me to your leader.” Everyone responds by pointing the finger to some else: “He’s the leader, she’s the leader,” etc. Time [...]


3/10/2010 3:20 PM
It is one of the big unanswered questions of the housing crisis: Why hasn’t the government pushed harder to include second mortgages in its anti-foreclosure efforts? Take a stressed borrower with a $200,000 first mortgage and a $50,000 second-lien loan, such as a home-equity line of credit. The government’s foreclosure-prevention approach focuses primarily on modifying the [...]


3/10/2010 3:12 PM
Best known for years as the pitchman of Rock Financial before a falling-out with his boss, Dan Gilbert, David Hall has launched a mortgage company in Birmingham called Hall Financial. During his 12 years at Rock Financial, Quicken’s mortgage lending arm in Michigan, Hall, 39, appeared in numerous TV and radio commercials for the company. The [...]


3/10/2010 2:58 PM
American International Group Inc. bondholders reaped at least $3.2bn after the bailed-out company announced deals to sell its two largest non-US life insurance divisions for $51bn. AIG’s $78bn of bonds have surged to 18-month highs since Feb. 26, the last trading day before the insurer disclosed the first of the two divestitures. The New York-based firm’s [...]


3/10/2010 2:53 PM
A watchdog group is fighting a legal battle with the Federal Housing Finance Agency (FHFA) over attempts to secure records of political contributions made by Fannie Mae (FNM: 1.10 +2.80%) and Freddie Mac (FRE: 1.32 +3.13%) since 2005. Judicial Watch filed its suit after the FHFA denied a May 29, 2009 Freedom of Information Act (FOIA) [...]

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