page-loading-spinner
by Chris Martenson

Fannie, Freddie and You: What It Means to the Public (Sept 7 NYT)

So what does the federal takeover of two mortgage finance giants mean to consumers?

Mortgage rates may fall a bit initially but probably not enough to halt the decline in home prices anytime soon. Some delinquent borrowers may have a better shot at modifying their loans and ending up with lower fixed payments. And the rules on new mortgages could slightly change.

Oh, and the federal government will help pay for it all, using your tax money.

Fannie and Freddie Bailout News
by Chris Martenson

Fannie, Freddie and You: What It Means to the Public (Sept 7 NYT)

So what does the federal takeover of two mortgage finance giants mean to consumers?

Mortgage rates may fall a bit initially but probably not enough to halt the decline in home prices anytime soon. Some delinquent borrowers may have a better shot at modifying their loans and ending up with lower fixed payments. And the rules on new mortgages could slightly change.

Oh, and the federal government will help pay for it all, using your tax money.

by Chris Martenson

FDIC shutters Silver State Bank of Nevada (Sept 5 – CNNMoney)

WASHINGTON (AP) — Regulators on Friday shut
down Silver State Bank, saying the Nevada bank failed because of losses
on soured loans, mainly in commercial real estate and land development.

It was the 11th failure this year of a federally insured bank.

Nevada regulators closed Silver State and the Federal Deposit Insurance
Corp. was appointed receiver of the bank, based in Henderson, Nev. It
had $2 billion in assets and $1.7 billion in deposits as of June 30.

The FDIC estimated its resolution will cost the deposit insurance fund between $450 million and $550 million.

 

FDIC shutters Silver State Bank of Nevada
by Chris Martenson

FDIC shutters Silver State Bank of Nevada (Sept 5 – CNNMoney)

WASHINGTON (AP) — Regulators on Friday shut
down Silver State Bank, saying the Nevada bank failed because of losses
on soured loans, mainly in commercial real estate and land development.

It was the 11th failure this year of a federally insured bank.

Nevada regulators closed Silver State and the Federal Deposit Insurance
Corp. was appointed receiver of the bank, based in Henderson, Nev. It
had $2 billion in assets and $1.7 billion in deposits as of June 30.

The FDIC estimated its resolution will cost the deposit insurance fund between $450 million and $550 million.

 

Total 4732 items