Frank Bill Seeks to Limit Mortgage Securitization
U.S. House Financial Services Committee Chairman Barney Frank wants to limit how much banks can securitize when repackaging mortgages on the secondary market, according to a Bloomberg report.
During a briefing in Washington yesterday, he told reporters it should be illegal to “securitize 100 percent of anything,” adding that those who securitize loans should be required to take into account a borrower’s ability Read more
High Cost Loan Limit Drop Could Hinder Borrowers in 2009
As the New Year gets underway, a number of new laws are in effect, including things like bans on texting while driving.
With regard to mortgage, loan limits have also changed, which could mean big, bad surprises for those looking to refinance or purchase a new home in more expensive areas of the country.
As of January 1, the so-called high-cost conforming loan limit fell roughly 14 percent from $729,750 Read more