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GOP Introduces Bill Targeting GSE Overhaul
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WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO TAKE IT TO THE NEXT LEVEL?
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GOP Introduces Bill Targeting GSE Overhaul
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
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GOP Introduces Bill Targeting GSE Overhaul

March 24, 2011 (Jeff Alan)
mortgage-overhaul-image
House Republican Jeb Hensarling of Texas has introduced the first bill to scale back Fannie Mae and Freddie Mac and privatize the government-sponsored enterprises within the next five years. The bill calls for eliminating the government’s role in the two mortgage giants and the mortgage market. It also calls for the maximum size of loans across the country backed by Fannie and Freddie to drop to $417,000, which now currently range from $417,000 and up to $729,750 in higher priced markets.

“What we’re trying to do is have a market-based system that doesn’t put people into homes that ultimately they can’t keep,” or require taxpayers to do pricey bailouts, Hensarling says.

The legislation comes on the heels of the Obama Administration’s “white paper” report last month outlining the administrations plan to phase out the GSE’s. The Obama plan did not have a definitive route to take, but instead proposed three possible options.

The first option, which is similar to Hensarling’s bill, would provide no loan guarantees to protect mortgage investors beyond those made by existing agencies such as the Federal Housing Administration.

The second option would create some type of government backstop that would kick in only during market emergencies.

The third option would create new federal loan guarantees to replace some of the roles played by Fannie and Freddie. Many Democrats, and some Republicans, have indicated their preference for such a model.

The bill coincides with the Republican beliefs that a piecemeal approach of proposing individual bills could offer more opportunities for cooperation with the White House.

Some government officials have commented that it may take up to two years before the decision on Freddie Mac and Fannie Mae are resolved, however, GOP lawmakers have expressed concern that the urgency for overhaul will dim as the housing market settles out.

If Fannie and Freddie become profitable by 2013, any changes to the companies are “going to morph more and more in the direction of saving the current system,” said Laurie Goodman, senior managing director at Amherst Securities Group LP.

As with the GOP’s other legislation pertaining to phasing the federal government’s anti-foreclosure programs, the Hensarling bill isn’t expected to go far according to industry experts. Even if it does pass the GOP-led House, analysts say it’s unlikely the Democratic-led Senate will take up the bill.

Tags: GOP, Fannie Mae, Freddie Mac, privatization, Hensarling, maximum loan size, white paper report, pricey bailouts, no loan guarantees, overhaul

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
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March 24, 2011 (Jeff Alan)
mortgage-overhaul-image
House Republican Jeb Hensarling of Texas has introduced the first bill to scale back Fannie Mae and Freddie Mac and privatize the government-sponsored enterprises within the next five years. The bill calls for eliminating the government’s role in the two mortgage giants and the mortgage market. It also calls for the maximum size of loans across the country backed by Fannie and Freddie to drop to $417,000, which now currently range from $417,000 and up to $729,750 in higher priced markets.

“What we’re trying to do is have a market-based system that doesn’t put people into homes that ultimately they can’t keep,” or require taxpayers to do pricey bailouts, Hensarling says.

The legislation comes on the heels of the Obama Administration’s “white paper” report last month outlining the administrations plan to phase out the GSE’s. The Obama plan did not have a definitive route to take, but instead proposed three possible options.

The first option, which is similar to Hensarling’s bill, would provide no loan guarantees to protect mortgage investors beyond those made by existing agencies such as the Federal Housing Administration.

The second option would create some type of government backstop that would kick in only during market emergencies.

The third option would create new federal loan guarantees to replace some of the roles played by Fannie and Freddie. Many Democrats, and some Republicans, have indicated their preference for such a model.

The bill coincides with the Republican beliefs that a piecemeal approach of proposing individual bills could offer more opportunities for cooperation with the White House.

Some government officials have commented that it may take up to two years before the decision on Freddie Mac and Fannie Mae are resolved, however, GOP lawmakers have expressed concern that the urgency for overhaul will dim as the housing market settles out.

If Fannie and Freddie become profitable by 2013, any changes to the companies are “going to morph more and more in the direction of saving the current system,” said Laurie Goodman, senior managing director at Amherst Securities Group LP.

As with the GOP’s other legislation pertaining to phasing the federal government’s anti-foreclosure programs, the Hensarling bill isn’t expected to go far according to industry experts. Even if it does pass the GOP-led House, analysts say it’s unlikely the Democratic-led Senate will take up the bill.

Tags: GOP, Fannie Mae, Freddie Mac, privatization, Hensarling, maximum loan size, white paper report, pricey bailouts, no loan guarantees, overhaul

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

March 24, 2011 (Jeff Alan)
mortgage-overhaul-image
House Republican Jeb Hensarling of Texas has introduced the first bill to scale back Fannie Mae and Freddie Mac and privatize the government-sponsored enterprises within the next five years. The bill calls for eliminating the government’s role in the two mortgage giants and the mortgage market. It also calls for the maximum size of loans across the country backed by Fannie and Freddie to drop to $417,000, which now currently range from $417,000 and up to $729,750 in higher priced markets.

“What we’re trying to do is have a market-based system that doesn’t put people into homes that ultimately they can’t keep,” or require taxpayers to do pricey bailouts, Hensarling says.

The legislation comes on the heels of the Obama Administration’s “white paper” report last month outlining the administrations plan to phase out the GSE’s. The Obama plan did not have a definitive route to take, but instead proposed three possible options.

The first option, which is similar to Hensarling’s bill, would provide no loan guarantees to protect mortgage investors beyond those made by existing agencies such as the Federal Housing Administration.

The second option would create some type of government backstop that would kick in only during market emergencies.

The third option would create new federal loan guarantees to replace some of the roles played by Fannie and Freddie. Many Democrats, and some Republicans, have indicated their preference for such a model.

The bill coincides with the Republican beliefs that a piecemeal approach of proposing individual bills could offer more opportunities for cooperation with the White House.

Some government officials have commented that it may take up to two years before the decision on Freddie Mac and Fannie Mae are resolved, however, GOP lawmakers have expressed concern that the urgency for overhaul will dim as the housing market settles out.

If Fannie and Freddie become profitable by 2013, any changes to the companies are “going to morph more and more in the direction of saving the current system,” said Laurie Goodman, senior managing director at Amherst Securities Group LP.

As with the GOP’s other legislation pertaining to phasing the federal government’s anti-foreclosure programs, the Hensarling bill isn’t expected to go far according to industry experts. Even if it does pass the GOP-led House, analysts say it’s unlikely the Democratic-led Senate will take up the bill.

Tags: GOP, Fannie Mae, Freddie Mac, privatization, Hensarling, maximum loan size, white paper report, pricey bailouts, no loan guarantees, overhaul

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS