Five of the 12 regional Federal Home Loan Banks reported losses for the third quarter, reflecting further write-downs on mortgage-backed securities. The 12 regional home loan banks, created by Congress in 1932 to support the housing market, are cooperatives owned by more than 8,000 banks, thrifts, credit unions and insurers. The Federal Home Loan Bank of New York today released unaudited financial results for the quarter ended September 30, 2009. At September 30, 2009, the Bank's total assets were $117.6 billion, a decrease of $19.9 billion from December 31, 2008. Advances declined by 12.1% to $95.9 billion at September 30, 2009, compared with $109.2 billion at December 31, 2008. Advances represented $81.6% of total assets at September 30, 2009.
Great Wolf to offer $225 million of mortgage notes Indoor waterpark resort company Great Wolf Resorts Inc. said Friday it plans to offer $225 million of first mortgage notes due 2017. The company plans to use the proceeds to repay mortgage debt ...
Summary Box: Homeowners see credit scores sink after signing up for mortgage relief AN UNWELCOME SURPRISE: Homeowners who enroll in the Obama administration's loan modification program can see their credit score dip by as much as 100 points. That makes it harder ...
US President Barack Obama's historic health care legislation, set to face a make-or-break vote on Sunday, would also reshape the way Americans pay for famously pricey college educations. Along with buying a home and setting aside cash for retirement, paying for higher ...
Homeowners see credit scores sink after signing up for mortgage relief Some homeowners who sign up for the government's mortgage assistance program are getting a nasty surprise: Lower credit scores. For borrowers who are making their payments on time but are on ...
Compliance with a new law aimed at regulating mortgage modification and foreclosure prevention, a runaway industry rife with scammers, is off to a slow start, causing concern for those on the front lines. Only 50 companies statewide have applied for the states ...
Congressional Democrats on Thursday trimmed their original student loan plans, reduced spending for community colleges, and eliminated early childhood money from a broad rewrite of a college aid bill piggybacked on to fast-track health care legislation. The student loan measure would be ...
Banks reduce their borrowing by average of $2.24 billion from Fed's emergency loan program Banks borrowed less from the Federal Reserve's emergency lending program over the past week in a further sign that the strains from the financial crisis are fading. The ...
Rates on 30-year mortgages edge up, but remain below 5 percent as Fed prepares exit Mortgage rates held below the 5 percent threshold for the third straight week as the Federal Reserve prepares to end a program that has kept rates at ...
Californians losing their homes face big tax bills unless Schwarzenegger, lawmakers compromise What should have been a legislative afterthought is threatening to become a financial purgatory for thousands of California taxpayers hit by the housing crisis. With less than a month until ...
MMI offers tips for understanding the CARD Act While only 10 percent of respondents in a recent Money Management International (MMI) survey believe students should use credit cards to finance college costs, many students get their first credit card while they are ...
