Page 29 - Credit Availability News Today

>> explain. >> so, so fha uses different servicing and conveyance procedures than the gses do, and the result of this is the cost of servicing, mortgage servicing at fha, for a nonperforming mortgage is three times the cost of doing the equivalent servicing at the gses for a nonperforming loan. that tripling of cost in servicing, which then has the effect of reducing the credit availability to the american people, because when you drive up servicing costs, then servicers overlay with cost overla...

Prices have appreciated off remarkably low levels in 2009 and 10 and in areas as "the wall street journal" pointed out that never really got that hot, prices of peaking now. so theres a little decline in affordability as interest rates and prices both go up together. but if you look at 4.5% mortgage, at any other time in history, wed be cheering that. the biggest problem with housing still is credit availability. not the cost of money. lending standards are too tight and with the price going up,...

Good economic news pushing stocks a lot higher today in helping those of us fortunate to have a 401(k). the commerce department reports january home sales were up more than 8%. the fastest since the peek of the housing boom. slipped but not enough to scare investors. same time demands for so-called durable goods jumped to 6% in february. stuff sufficient -- such as cars and refrigerators and the like best in five months. indices all three up. the fox business networks peter barbs -- barnes is wi...

Commerce department reports new home sales jumped 7.5% from april to may. americans are buying new homes at a pace we havent seen in two years. to what do we credit this? >> well, i dont know. low interest rates? everybody has been struggling for an answer because the market has been so bad. i welcome any good news. unfortunately, the richmond fed president jeff lacker told our peter barnes is he not too optimistic. here is what he said. >> i think its just going to take time. we have built more...

explosive allegation allegations are sexually abusing two former ball boys. boeheim issued a statement, the allegations are disturbing and deeply shocking. i am personally shocked because the activities alleged -- he went on to say, i deeply regret any statements i made that might have inhibited that from occurring or been insensitive to victims of the abuse. espn first released the story, it secretly released a conversation between fines wife and lori fine and one of the coachs accuse...

Which are much more important than supply and demand. this is the thesis of the book. its been, in fact, a price structure set up through wall street, designed to bring investors into a market that really was never designed to take investor interest. and now its been growing by leaps and bounds, particularly over the last four or five years. and its caused what has been an enormous spike and a bust in oil in 2008/2009. i believe its causing another spike and obvious bust that will happen that we...

I dont know if that was the main reason oil was at $140. i dont think it was. i think they played a role, but i dont know. i do know this: as the price of crude oil went up, our financials went down. that is indisputable and i think that is pretty compelling. we talked about it before, but never tied it in to speculators gaining the system or foreign entity doing it to push us over the edge. phase two -- thats phase one. phase two was bare raids on the market. we talked about this as well. untra...

Lend more to small businesses. >> making credit availability to sound businesses should be front and center among the current policy challenges. >> the banks say the problem is not tight money. they say there is less demand for loans and the business leaders say there is less demand for what they are selling. and they believe thats because people still arent sure that things are headed back to normal. bret? >> bret: wendell goler, live on the north lawn. thank you. you heard the chairman ben ber...

This recession has been a terrible one, an unusual one having been caused by a financial crisis, created a lot of fear. we still have some trouble with debt and credit availability. all of that makes it harder for us to grow. so most of the forecasts are that well grow about 3% real gdp in 2010. thats not enough to get a lot of job growth. well get positive job growth. lit be enough to bring the unemployment rate down a little bit. you need faster than that to really make a dent. >> members of t...

Administration hitting the sunday show circuit today making their case for the latest jobs report and christina romer says it may be sometime before american workers see a decline in unemployment, malini wilkes is live with more. >> reporter: this morning key members of the presidents economic team noted strong numbers on job creation but they are cautious about what lies ahead and 162 percent jobs were added in march, the most in three years, and unemployment is unchanged at a stubbornly high 9...