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Refi initiative dials back PMI requirement

By Matt Carter, Friday, February 20, 2009.

Private mortgage insurers are welcoming a ruling by the regulator of Fannie Mae and Freddie Mac that it expects the companies to keep existing private mortgage insurance policies in place when refinancing loans under the Obama administration's new foreclosure prevention initiative.

But the ruling also said borrowers who didn't need private mortgage insurance when taking out their original loan will not be required to obtain insurance when refinancing -- even if their loan-to-value ratio has climbed above 80 percent.  more...

Credit flow hinges on big-bank 'stress-test' Premium Content

By Lou Barnes, Friday, February 20, 2009.
Flickr photo by <a href="http://flickr.com/photos/chewie/3034903278/" target=blank>Vibragiel</a>.

Weakness overseas has overtaken the U.S. economy as the chief worry in financial markets -- knocking the knees from under the stock market -- but in perverse benefit has made it easier for the Treasury to borrow and held mortgages below 5 percent.

That shift in fear center this week has created the misimpression that markets actively dislike Obama's financial rescue plans.  more...

Shower doors offer choices galore

By Paul Bianchina, Friday, February 20, 2009.

Tired of your ragged old shower curtain? Sick of hassling with that old shower door with the worn track and the missing rollers? If it's time to start thinking about a new door for your shower, you'll find a wide and beautiful assortment of options awaiting you.

Whether you have a tub/shower combination or a dedicated stall shower, there are essentially three different types of doors available:  more...

Mortgage rates nearing record lows

By Inman News, Friday, February 20, 2009.

The average rate on 30-year fixed rate mortgages this rate continued to fall to near the 5 percent mark, close to the record low seen a month ago, Freddie Mac said.

In a separate report, the Mortgage Bankers Association said mortgage applications jumped 45.7 percent for the week ending Feb. 13 compared to the week before. The increase was largely driven by a 64.3 percent in applications for refinancings, but applications for purchase loans were also up a seasonally adjusted 9.1 percent.  more...

What to do with Fannie and Freddie? Premium Content

By Matt Carter, Friday, February 20, 2009.

Lawmakers have three options for getting Fannie Mae and Freddie Mac out of conservatorship: nationalize the companies, retain their public-private status with increased oversight, or sell them off to private investors.

That's according to James Lockhart, who was appointed by former President George Bush in 2006 to head the regulatory agency that oversees Fannie and Freddie.  more...