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Government housing policies guaranteed home mortgages and/or promoting low or no down payment have been criticized by economist Henry Hazlitt as "inevitably" meaning "more bad loans than otherwise", wasting taxpayer money, " leading to "an oversupply of houses" bidding up[ the cost of housing. In "the long run, they do not increase national ...
The government assumed control of the bank's £50 billion mortgage and loan portfolio, while its deposit and branch network were sold to Spain's Banco Santander. [ 17 ] In October 2008, the Australian government made A$4 billion available to nonbank lenders unable to issue new loans.
The United States Housing and Economic Recovery Act of 2008 (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis.It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 percent of current appraisal value.
Also called the Blue Dog Democrats or simply the Blue Dogs. A caucus in the United States House of Representatives comprising members of the Democratic Party who identify as centrists or conservatives and profess an independence from the leadership of both major parties. The caucus is the modern development of a more informal grouping of relatively conservative Democrats in U.S. Congress ...
Ginnie Mae is a government corporation within the U.S. Department of Housing and Urban Development that buys government-insured or -guaranteed mortgages typically designed to serve low- and ...
Among the important catalysts of the subprime crisis were the influx of money from the private sector, the banks entering into the mortgage bond market, government policies aimed at expanding homeownership, speculation by many home buyers, and the predatory lending practices of the mortgage lenders, specifically the adjustable-rate mortgage, 2 ...
The funds for guaranteed mortgages come from private-sector lenders, but the loan is backed by a guarantor, typically a government agency, that will pay out money to the lender if the borrower ...
Federal government policies define banking and mortgage lending practices, tax and regulatory measures affecting building materials, professional practices (ex. real estate transactions). [98] The purchasing power of individual households can be enhanced through tax and fiscal policies that result in reducing the cost of mortgages and the cost ...