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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.
E-Trade logo from February 3, 2008 to December 31, 2021. In 1982, physicist William A. Porter and Bernard A. Newcomb founded TradePlus in Palo Alto, California, with $15,000 in capital. In 1983, it launched its first trade via a Compuserve network. In 1992, Porter and Newcomb founded E-Trade and made electronic trading available to individual ...
Mortgages Federal [definition needed] Mortgage Forgiveness Debt Relief Act of 2007: 2007: Mortgages Federal [definition needed] Housing and Economic Recovery Act of 2008: 2008 [definition needed] Federal: Commonly referred to as HERA, and designed primarily to address the subprime mortgage crisis of 2007 American Recovery and Reinvestment Act ...
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 ...
Adjustable rate mortgage or ARM - A mortgage where the interest rate adjusts relative to a specified index + margin. E.g. COFI, LIBOR etc.; Hybrid ARM - An adjustable rate mortgage where the initial 'start' rate is fixed for some portion of time (3,5,7, or 10 years) thereafter the interest rate adjusts (yearly or bi-annually) based on the sum of a specified index + margin.
What is the Truth in Lending Act? The Truth in Lending Act (TILA) is a federal law that aims to promote transparency and protect consumers in credit transactions.
For most retail investors, E*TRADE Financial Corp is a household name. We've all seen the commercials, and if you've ever considered managing your investments online, you've probably checked out E ...
Ginnie Mae, formerly the Government National Mortgage Association, which originally only provided insurance for bonds issued by FHA and VA mortgages in special affordable housing programs. [3] In 1970, Ginnie Mae became the first organization to create and guarantee MBS products and has continued to provide mortgage funds for homebuyers ever since.