Green Options » fannie mae

When a House Is Not a Home:The Homeownership Myth

Fred Etcheverry — Wed, 06 May 2009 22:39:41 +0000

According to a recent US Census report, fewer Americans are moving since such records began in 1948 (NYT). Many homeowners are stuck in a falling real estate market, unemployed, facing foreclosure, and unable to move to new jobs. They are unable to lower mortgages on their houses since the Senate, in response to the mortgage banker lobby, voted against cram-downs. Banks are bulldozing foreclosed houses.

Hopefully, the future will record that we had a crisis, but sized the opportunities afforded by the mounting promises of renewable energy and rode them to success. Hopefully, the future will not record that we were bogged down by the narrow interest of lobbyist and missed this golden opportunity.

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Good News For Homeowners: Obama Mortgage Plan

Reenita Malhotra — Thu, 19 Feb 2009 16:58:23 +0000

Good news for homeowners? Those with loans guaranteed by Fannie Mae or Freddie Mac could be eligible to refinance — even if they owe more than their home is worth.

The newly announced Obama mortgage plan aims to aid as many as 9 million households in fending off foreclosures. Here are its key elements:

Allows 4 million–5 million homeowners to refinance via government-sponsored mortgage giants Fannie Mae and Freddie Mac.
Establishes $75 billion fund to reduce homeowners’ monthly payments.
Develops uniform rules for loan modifications across the mortgage industry.
Bolsters Fannie and Freddie by buying more of their shares.
Allows Fannie and Freddie to hold $900 billion in mortgage-backed securities — a $50 billion increase.

(Source: Marketwatch)

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Fannie and Freddie, The Rich Grew Richer: A Case for a National Mortgage Bank

Fred Etcheverry — Mon, 29 Dec 2008 08:24:09 +0000

Fannie and Freddie were both conceived as Government Structured Enterprises – part private and part public. Without strict regulations against lobbing, such an arrangement assured that the private side would promote profits for the private side. One solution would be to replace Fannie and Freddie with a national mortgage bank.

The goals of such a bank would be to ensure affordable housing, recognize the real value of property, promote communities, and provide a zero risk mortgage market for investors such as pension funds.

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2008….Cause For Inspiration? The Economic Year In Review

Reenita Malhotra — Tue, 23 Dec 2008 00:28:25 +0000

Hope-Despair, a painting by Feroza Unvala

2008 - what a year! As we get ready to draw the curtains on one of the most unsettling economic years in history, we the writers of the Inspired Economist are still wondering… was this year one that has left our battered economy begging for inspiration? Or have the sustainable events of 2008 spearheaded the initiation of what we believe is truly an Inspired Economy?

2008 was about the $700 billion bailout. Foreclosures. The plummeting stock market. As the year came to a close, the nation’s economic turmoil battled with the presidential election. But it was also a time when new businesses were born into what appears to be an unprecedented sustainability boom. When energy, economy and environment have taken on a new and inter-dependent definition.

As we position our economy to take off on this inspiring eve of the Obama generation, let’s reflect on the change that has come into play this year……

The First Quarter

The first quarter of the year saw the idea of social entrepreneuring take flight beyond the borders of America.

Cover of Jeffery Sach’s book Common Wealth

It was also the time when the Center for Resource Solutions launched the Environmental Tracking Network of North America – North America’s first network organization for renewable energy and greenhouse gas emissions tracking systems and registries.

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Bush Plays the Joker in The Dark Knight Bailout (VIDEO)

Jerry James Stone — Thu, 25 Sep 2008 22:48:39 +0000

This post contains additional media. Click here to view the full post.

Thank you getthebigpicture.net. Video source: MBelinkie on YouTube

To Bailout or Not to Bailout: Is Free Market Economics Sustainable?

Reenita Malhotra — Mon, 22 Sep 2008 05:10:49 +0000

In view of the current Wall Street crisis, America’s credibility as a bastion of free markets has come under the radar. The Fed’s recent bailout of AIG, Fannie and Freddie are perceived by many as a free market detour.

The government’s latest bailout news involves a plan to make the biggest intervention in the financial markets since the 1930s. Central to this plan would be a mechanism to bad assets off the balance sheets of financial companies or instead perhaps to create a federal insurance for investors in the money market funds. Additionally, the Securities and Exchange Commission is getting ready to propose a temporary ban on short selling financial stocks.

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America’s Market Bailout : Some Figures For The Weekend

Chris Milton — Fri, 19 Sep 2008 21:55:52 +0000

A few details are starting to emerge about the proposed “bail out plan” of the US Government. While legislators wrestle with the finer details, here are a few figures to juggle with over the weekend.

So far, $200bn has been spent saving Fannie Mae and Freddie Mac with another $300bn to prop up the Federal Housing Administration.

On top of that, there’s with an additional $69bn to buy up the companies’ discount notes, $29bn to keep Bear Sterns alive and $85bn to keep AIG going. That’s another $183bn, taking the running total to $683bn.

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