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WASHINGTON — The federal agency that oversees Fannie Mae and Freddie Mac filed lawsuits Friday against 17 financial institutions, including some of the largest American banks, alleging that they made misrepresentations when they sold private-label mortgage-backed securities to Fannie and … Continue reading
One of the biggest reasons homeowners refinance their mortgage is to obtain a lower interest rate and lower monthly payments. By refinancing, the borrower pays off their existing mortgage and replaces it with a new one. This can often be … Continue reading
“Volatility” is Wall Street’s favorite term for losing your shirt. Volatility means down and up and down and up, a transient emotional upset. That’s not what this is. The Dow set one of its highs since the Great Recession began, … Continue reading