Mortgage Security Bondholders Facing a Cutoff of Interest Payments
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The cutoff of interest payments, which is expected to accelerate, would be the latest blow to the markets as investors try to anticipate the next problem that might shake confidence.
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Investor's Business Daily - Bill Gross, chief investment officer at Pacific Investment Management Co., or PIMCO, said the subprime mortgage crisis will hurt the economy and force the Fed to cut interest rates by year-end. &quot;The subprime crisis is not an isolated event and it won&#39;t be contained by a few days of headlines in the New York Times,&quot; said Gross, who manages the world&#39;s biggest bond fund. He said subprime woes will reduce consumption and new-home building over the next 12 to 18 months.
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If Fannie Mae (FNM) is hampered by new limits on its operations, shareholders of the USA&#39;s biggest mortgage-investment company are likely to feel the pinch more than the nation&#39;s mortgage borrowers.
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With the housing market in decline, financial predators are finding yet another way to take advantage of people who fall behind on their payments.
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Beware of interest-only mortgages and other extreme loans.
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Global credit squeeze undermining private sector sale of mortgage lender
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The crisis in the subprime mortgage market has heightened tension between mortgage lenders and brokers who both hope to shape any laws aimed at stamping out dangerous loans.
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US home buyers may see a slight rise in mortgage rates if housing finance company Fannie Mae , which is mired in an accounting scandal, slows purchases of bonds backed by home loans in response to new rules imposed by regulators.
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Fannie Mae, the largest US mortgage buyer, may slow purchases of home loans to meet its regulator&#39;s demand to boost capital, hurting earnings prospects.
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U.S. lenders would have to determine that a borrower can afford a mortgage before making the loan under a Federal Reserve staff proposal on new regulations released on Tuesday.
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The truism that higher interest rates function as a tax on people who hold variable debt has been particularly apparent to homeowners holding adjustable-rate mortgages.
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WASHINGTON - Americans may be disappointed the Federal Reserve's interest rate cut won't translate into lower monthly mortgage payments and a revival of the housing market.
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Lenders will have to confirm that a borrower can afford a mortgage before making a loan under protections proposed by the Federal Reserve on Tuesday, following defaults and losses on U.S. subprime mortgages this year.
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The market has been shaken by uncertainty surrounding bond insurers and whether they will be able to handle large losses in the value of mortgage-backed bonds.
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Even borrowers with strong credit are feeling the pinch as home values fall and monthly payments rise.
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Fear of bond insurers losing their  investment-grade credit ratings is rattling investors as  estimates mount for the cost of paying for the latest chapter  in the widening U.S. credit crisis.
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The measures promise to protect borrowers from prepayment penalties and misleading loans.