Search results
Results from the WOW.Com Content Network
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.
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 ...
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 ...
Portions of this article were drafted using an in-house natural language generation platform.The article was reviewed, fact-checked and edited by our editorial staff.. Key takeaways. The Home ...
Provides loans for the refinancing of mortgages to owner-occupants at risk of foreclosure. The original lender or investor reduces the amount of the original mortgage (typically taking a significant loss) and the homeowner shares any future appreciation with the Federal Housing Administration. The new loans must be 30-year fixed loans.
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 ...
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 ...
An FNMA loan, aka a conforming loan or Fannie Mae-backed mortgage, is a loan or mortgage that has been sold to the Federal National Mortgage Association (FNMA, or Fannie Mae) — or one that meets ...