Report: Treasury Outsourced Foreclosure Bailout

by | Oct 14, 2010 | Towing

The government’s efforts to stem the foreclosure crisis may have been hampered by its reliance on Fannie Mae and Freddie Mac, according to a new report.

The two mortgage giants have “a history of profound corporate mismanagement,” and were overly reliant on subcontractors, the report by the Congressional Oversight Panel said.

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Report: Treasury Outsourced Foreclosure Bailout originally appeared on DailyFinance on Thu, 14 Oct 2010 07:33:00.

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Mortgage Rates Fall to New Record Low: 4.27%

by | Oct 7, 2010 | Towing

The average 30-year fixed-rate mortgage fell to a bargain-basement 4.27% for the week ending Oct. 7, a new record low, Freddie Mac announced Thursday. That’s down from the 4.32% rate last week, and way below the 4.87% rate that…

TARP Draws to a Close Next Week, With Lower Costs Than Thought

by | Oct 1, 2010 | Towing

After countless angry political speeches and the threat of economic collapse, the government’s $700 billion bailout of banks, insurance companies and auto companies draws to a close Sunday – and it will likely cost only a fraction of what was expected….