Posted on March 10th, 2010 by Mortgage Refinancing Reviews
Your First Home Mortgage: Things You Should Be Aware Of So You Don’t Get Screwed!
Owning a home is really one of the ultimate dreams for most people and in order to attain this dream most people need to take out a mortgage. But there is a problem, mortgages are written in language most of us don’t understand! Most lenders realize this and try to take advantage of “You” the consumer. This book will help you better understand Your First Home Mortgage So You Don’t Get SCREWED!
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Posted on March 10th, 2010 by Mortgage Refinancing Reviews
Subprime Nation: American Power, Global Capital, and the Housing Bubble (Cornell Studies in Money)
In his exceedingly timely and innovative look at the ramifications of the collapse of the U.S. housing market, Herman M. Schwartz makes the case that worldwide, U.S. growth and power over the last twenty years has depended in large part on domestic housing markets. Mortgage-based securities attracted a cascade of overseas capital into the U.S. economy. High levels of private home ownership, particularly in the United States and the United Kingdom, have helped pull in a disproportionately large share of world capital flows.
As events since mid-2008 have made clear, mortgage lenders became ever more eager to extend housing loans, for the more mortgage packages they securitized, the higher their profits. As a result, they were dangerously inventive in creating new mortgage products, notably adjustable-rate and subprime mortgages, to attract new, mainly first-time, buyers into the housing market. However, mortgage-based instruments work only when confidence in the mortgage system is maintained. Regulatory failures in the U.S. S&L sector, the accounting crisis that led to the extinction of Arthur Andersen, and the subprime crisis that destroyed Lehman Brothers and Merrill Lynch and damaged many other big financial institutions have jeopardized a significant engine of economic growth.
Schwartz concentrates on the impact of U.S. regulatory failure on the international economy. He argues that the “local” problem of the housing crisis carries substantial and ongoing risks for U.S. economic health, the continuing primacy of the U.S. dollar in international financial circles, and U.S. hegemony in the world system.
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Posted on March 9th, 2010 by Mortgage Refinancing Reviews
The Rise and Fall of the US Mortgage and Credit Markets: A Comprehensive Analysis of the Market Meltdown
The mortgage meltdown: what went wrong and how do we fix it?
Owning a home can bestow a sense of security and independence. But today, in a cruel twist, many Americans now regard their homes as a source of worry and dashed expectations. How did everything go haywire? And what can we do about it now?
In The Rise and Fall of the U.S. Mortgage and Credit Markets, renowned finance expert James Barth offers a comprehensive examination of the mortgage meltdown. Together with a team of economists at the Milken Institute, he explores the shock waves that have rippled through the entire financial sector and the real economy. Deploying an incredibly detailed and extensive set of data, the book offers in-depth analysis of the mortgage meltdown and the resulting worldwide financial crisis. This authoritative volume explores what went wrong in every critical area, including securitization, loan origination practices, regulation and supervision, Fannie Mae and Freddie Mac, leverage and accounting practices, and of course, the rating agencies. The authors explain the steps the government has taken to address the crisis thus far, arguing that we have yet to address the larger issues.
- Offers a comprehensive examination of the mortgage market meltdown and its reverberations throughout the financial sector and the real economy
- Explores several important issues that policymakers must address in any future reshaping of financial market regulations
- Addresses how we can begin to move forward and prevent similar crises from shaking the foundations of our financial system
The Rise and Fall of the U.S. Mortgage and Credit Markets analyzes the factors that should drive reform and explores the issues that policymakers must confront in any future reshaping of financial market regulations.
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Posted on March 9th, 2010 by Mortgage Refinancing Reviews
Posted on March 8th, 2010 by Mortgage Refinancing Reviews
