Legislative
Congress Encourages Increase In Fannie and Freddie Portfolio Loans
October 20th, 2007 categories: Legislative
With a tidal wave of expected foreclosures looming in the horizon, there is a move by Congress to expand the government-sponsored finance corporations.Increasing the portfolio size over the current $700 billion limit for each Fannie Mae and Freddie Mac is opposed by the current administration. The additional risk could end up being the taxpayers burden. That risk is now being encouraged by Congress with the proviso that Freddie and Fannie have a strong independent regulator overlooking these ostensibly hybrid public/private corporations even though having government backing. Read the rest of this entry »
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Federal Predetory Lending Legislation Moving To Front Burner
September 11th, 2007 categories: Buying San Diego Real Estate, Legislative, San Diego Mortgage Banks and Loans Info, San Diego Real Estate, San Diego Real Estate News
Congress is right smack in the middle of a huge quagmire. There are factions of congress that are proposing legislation that goes beyond the lenders practices they want to clean up.
In particular there is legislation being discussed that wants to reach down to the investor level that buy the mortgage securities. One such proposal has the mortgage securities and the investors that buy them to be held liable for any loan fraud involved in the securities that the packaged loans for investment contain.
The fear in any such bill is that if mortgage securities and the investors have to review each of the loans, it could spell disaster and be a sword whose edge cuts negatively on both edges.
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Fixing Our Overcrowded Transportation System In San Diego County? Taxes or Tolling ?
September 5th, 2007 categories: Legislative, Local San Diego News You Can Use, San Diego Real Estate, San Diego Real Estate Legal, San Diego Real Estate News
Have you noticed how willing our state legislators are to spending the tax revenues? Rhetorical question of course. How could one help but notice? The better question to ask is on what? It isnt like our roads and infrastructure are forefront on their 1st page of discretionary spending.
If the funding was for maintaining streets and bridges, thats one thing but since it isnt sexy, those funds are appropriated for things in districts that hallmark the legislators image. And what would that look like you might wonder. Well we are all wondering, but we can be sure the funds are going there because they certainly are not going to streets and bridges and other aging and updated infrastructure.
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