Posts tagged as:

FHA Secure

The Year of Foreclosure Prevention Flops

by Moe Bedard

Looking back over the last year, I can’t help but notice the ridiculous amount of clever names used by our government and other consumer advocates in relation to homeowner foreclosure assistance and relief.
The latest Hope for Homeowners program has met little fan fare on this blog because quite frankly, I feel it is just the [...]

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Remarks by Secretary Henry M. Paulson, Jr. on the U.S. Economy, Housing and Capital Markets

by Moe Bedard

May 16, 2008
HP-981Before the Washington Post 200 Lunch
Washington – Thank you, Len. Over the last forty years, Washington has transformed into a diverse corporate center. Congratulations to the Post for recognizing this through their annual list of 200. And I am pleased to join you and represent the “old” Washington, the less than ten [...]

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House Passes Comprehensive Housing Package

by Moe Bedard

Washington, DC – The U.S. House of Representatives today passed the most comprehensive response yet to the American mortgage crisis.  The American Housing Rescue and Foreclosure Prevention Act (H.R. 3221) responds directly to the current crisis facing middle class Americans while providing the tools to prevent a repeat of these problems.  The legislation combines a [...]

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FHA Commissioner Brian D. Montgomery – We must not federalize the housing market

by Moe Bedard

Testifying before the Senate Finance Committee on April 9 Montgomery said, “We must not federalize the housing market. And we must not harm our economy through solutions that, however well-intentioned, further erode the foundation of the nation’s housing market, hurt homeowners who are meeting their mortgage obligations, or prolong the correction.”
There are two elements that [...]

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Mortgage brokers are still committing fraud & submitting bad loans = Business as usual

by Moe Bedard

By Poppy (30 year mortgage industry veteran/senior underwriter) 
It has been a long, difficult and contentious day….between the Brokers, AE’s and Processors, none of whom appear to know that there are two “g’s” let alone a “t” in mortgage.  It leaves one not sure whether to be so angry as to find them all and pound some [...]

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The FHA Secure Flop and The No Hope Now Plan = 2 Strikes for the Bush Administration

by Moe Bedard

In only the first 4 months of FHASecure, more than 40,000 households have refinanced under the new housing insurance program to protect their families’ investment in the American Dream.  Announced by President Bush on August 31, 2007, along with HUD Secretary Jackson and Treasury Secretary Paulson, FHASecure is already helping thousands of American families, faced [...]

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FHA Secure Flop. Only 266 Borrowers Have Been Assisted!

by Moe Bedard

By Moe Bedard and Aaron Krowne

It has been 4 months since President Bush announced a new refinancing program called the FHA Secure. This new refinancing product was touted as a foreclosure prevention device and viable alternative to homeowners stuck in adjustable rate mortgages as a way “out” of their toxic loan and into a 30 [...]

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FHA Secure Facts

by Moe Bedard

Website are starting to pop up left and right as the next internet gold rush is on the way. With the announcement of the FHA Secure, struggling loan officers, lenders and webmaster rushed to register domain names and jump on the new lending band wagon. Hell, they have been starving for loans and many loan [...]

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FHA Secure

by Moe Bedard

It’s been all over the news and I’m sure everyone has been talking about President Bush’s speech today. He laid out plans for aid and laid the foundation for the FHA Secure Loan that will be rolled out to approximately 80,000 homeowners shortly. I yawned as I turned the channel to watch something a little more interesting and [...]

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