Theresa Springer’s Blog

Supreme Court Gives S&P A Pass on Mortgage Ratings

As you may recall, there was much uproar at the time of the mortgage crisis, blaming Standard & Poor’s ratings firm for making false statements about risky mortgage derivative products. A federal appeals court had originally ruled in favor of S&P in a lawsuit filed by the Boca Raton Firefighters & Police Pension Fund. This ... MORE

Why The Feds Hold 1/2 of All Residential Mortgages

OK. So the economy is better. The housing market is in full recovery, if not possibly even in a bubble again. So, what gives with over 50% of all residential mortgages being held by Fannie and Freddie? (As a reference point, that’s up from 7% in 1981). As expected (and always), it comes down to risk. ... MORE

Thirty Year Fixed Rate Mortgage – An American Anomoly

There are things we think about every day, and some of them are pretty weird. But then there’s a whole other class of things that, weird or not, we almost never think about. Like, how do people in other countries buy houses? It turns out, one way they don’t buy them is with a phenomenally ... MORE

Mortgage Closing Times Longer, At Least at The Big Banks

Well, we’re four days into the new regulations, and — lo and behold — the sky has not fallen. It turns out there was a rush on mortgages last week, in preparation for the new regulations, but in most cases that may not have really been necessary. It appears that things are going smoothly at ... MORE

The One Lawsuit from The Mortgage Meltdown

Memories can be short lived. Sure, we all remember the mortgage meltdown of 2008. But do we really remember it? Would it surprise you to learn (or remember, or fail to remember), that one — and only one — executive from a major mortgage lender was found liable in a court of law? Rebecca Mairone, ... MORE

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