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The Root: Homewreckers (Washington Post)
"More than half of all black borrowers who got refinance mortgages in 2006 were sold subprime products. According to a recent study, black and Latino borrowers will collectively lose an estimated $164 billion to $213 billion in the wave of foreclosures that have followed that lending; we'll have absorbed about half the nation's overall foreclosure loss.
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Color of Money Live (Washington Post)
Need advice about how to handle your personal finances? Whether the struggle is saving for retirement, organizing your bank files, or talking about money responsibility with your spouse or loved one, Post personal finance columnist Michelle Singletary offers her advice and answers your tough questions.
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Fannie, Freddie: Housing bedrock (The Philadelphia Inquirer)
What's up with Fannie and Freddie? Investor concerns about the financial health of Fannie Mae and Freddie Mac, the two big government-chartered mortgage corporations, have pushed the federal government into action.
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UPDATED: Watch List (July 13-19): Let 'em Fall (CoStar Group)
In this week’s issue: The decline in overvalued properties is necessary; IndyMac collapse leaves CDO holders holding the bag; CDO delinquencies rise; Government hits Edward Okun with new indictment; American Land Lease puts itself up for sale; UBS...
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The Price of Stability: A Narrowed GSE Mission? (Financial Planning.com)
Moves to backstop the government-sponsored enterprises appeared to achieve the near-term goal of stabilizing them somewhat Monday, but observers predicted Fannie Mae and Freddie Mac will pay a high price for this intervention.
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Buying a house with a VA loan (The Charlotte Observer)
Q: If I were to get a VA loan to buy my girlfriend's home, could she sell it to me for less than the appraised value of the home? And if so, would her income be considered part of my total income on the VA loan? According to the Veteran's Administration, which backs VA loans, there is nothing in the rules that prohibits a seller from selling a home for less than the VA determined value of the ...
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Pearlstein: Fannie and Freddie (Washington Post)
Washington Post columnist Steven Pearlstein discusses the financial crisis and government-backed mortgage giants Fannie Mae and Freddie Mac.
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City a rare bright spot on the home foreclosure front (The Fayetteville Observer)
Military towns across the U.S. have been hit hard during the foreclosure crisis. In Norfolk, Va., home of the nation’s largest naval station, foreclosures in the first three months of 2008 more than doubled from a year ago.
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Fed plan reins in dicey mortgage loans (USA Today)
The Federal Reserve, criticized for standing aside as risky subprime mortgage lending soared then crashed, did an about-face Tuesday by proposing sweeping new consumer protections.
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BUSINESS BRIEFS (Richmond Times-Dispatch)
Rolls-Royce North America officially opened its 125-person corporate headquarters in Reston yesterday. The company moved from Chantilly to an office building in the Reston Town Center. It is in the process of consolidating its regional purchasing organization into the Chantilly space. The company announced plans last year to build an aerospace manufacturing plant in the Crosspointe Centre in ...
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