Posted on March 30, 2011 by Bob Berwyn
New mortgage rules are up for public comment.
“The intent of this rulemaking is not to kill private mortgage securitization — the financial crisis has already done that.”
~FDIC Chair Sheila Bair
SUMMIT COUNTY — In a move that will ultimately have long-term implications for the real estate market in Colorado and across the country, federal regulators this week announced one of their proposals to restructure home lending rules.
Click here to read the federal notice and to comment.
The Federal Deposit Insurance Corporation and the Federal Reserve now want public comment on the plan, which would require lenders to offer mortgages with at least a 20 percent down payment if they want to repackage the loan to sell to other investors without keeping some of the risk on their books. (more…)
Filed under: business, Colorado, economy, real estate | Tagged: business, Dodd–Frank Wall Street Reform and Consumer Protection Act, economy, Fannie Mae, FDIC mortgage rulemaking, Federal Deposit Insurance Corporation, Federal Reserve System, Freddie Mac, home mortgage financing, real estate, Securitization, Sheila Bair, Summit County News | Leave a Comment »
Posted on October 26, 2010 by Bob Berwyn
Breckenridge resident Rick Eisenberg reports from the Colorado Association of Realtors conference.
Editor’s note: Breckenridge real estate broker Rick Eisenberg reports on a presentation from last week’s annual Colorado Association of Realtors conference. Please welcome Rick as a Summit Voice contributor and visit his blog at elevationrealestate.com.
By Rick Eisenberg
When Philippe Petit laid down on the tightrope during his successful attempt at crossing the span between the World Trade Center towers in 1974, he appeared calm and confident. He was also engaging the authorities in a cat and mouse game, daring them to try to ‘save’ him, as they stood helplessly at either end of the wire.
Such is the state of our economy, said Mark Snead, V.P. Federal Reserve Bank, Denver area, speaking at the Colorado Association of Realtors annual conference in Colorado Springs last week. Like Petit, our economy is walking that tightrope without a safety net, with recovery at the end of the wire, and gloom falling off precipitously to either side. While the fundamentals for correction appear to be in place, the risks that we fall into another, and possibly deeper, recession are constantly tugging at the wire. (more…)
Filed under: business, real estate, Summit County Colorado | Tagged: Colorado, Federal Reserve System, Gross domestic product, Philippe Petit | 2 Comments »