Refinance .net

In the midst of all of the economic bad news, and the mad dash to intervene throughout the capital markets, there is at least some hint of good news. The beauty and flexiblity of a market economy rather than a command economy, is that markets tend to adjust themselves. When things get [...]

The Federal government expanded its bailout deeper into the consumer and mortgage credit markets. In the past few weeks efforts have focused on capital infusion and solvency. The government has made direct investments into banks- essentially handing them money - so that they would have some operating capital. Now the financial [...]

Happy Holidays. Mortgage giants Fannie Mae and Freddie Mac have decided not to be the grinches who steal Xmas this year.
Nov. 20 (Bloomberg) — Fannie Mae and Freddie Mac, the mortgage-finance companies seized by the U.S. government, will suspend foreclosures and evictions over the holidays.
The six-week halt will begin Nov. [...]

Refinance.net did a story last year about the mortgage meltdown and created an image entitled Perfect Storm that was selected by the Massachusetts Institute of Technology’s Center for Advanced Visual Studies exhibition, Red Lines, Death Vows, Foreclosures, Risk Structures: Architectures of Finance from the Great Depression to the Sub-Prime Meltdown:
MIT Museum and
MIT’s Center for Advanced [...]

If you grew up in Los Angeles, and probably anywhere in California, you probably opened your first savings account at either Bank of America or Security Pacific National Bank. My family was a Security Pacific family. (In Los Angeles everything always seems to fall into a rivalry SC vs. UCLA, Dodger vs Angels [...]

It’s helpful to remember that ours is a market economy. That means that economic decisions aren’t forced from the top by a government bureaucrat, but rather the reasoned (or sometimes emotional) decisions of millions of individual consumers, business executives, bankers, marketers etc. Reports from a number of sources today hint that even [...]