I saw a news flash on Drudge yesterday afternoon saying banking regulators and the Federal Reserve had issued some loan guidelines. There was no meat in the story. It was a breaking story at the time. This morning I found that various regulatory bodies as well as the Federal Reserve are asking lenders and loan servicers [...]

I just finished reading “Truth-in-Lending Disclosure Failure Leads to Mortgage becoming “UnSecured”” at The Big Picture. This article sent chills down my spine. The main reason being that if borrowers are successful in detaching the collateral from their mortgages then we are indeed headed for some really bad economic times. The premise of the post [...]

Between First Magnus (Great Southwest Mortgage) closing shop and Countrywide going through some serious turbulencethings are very unpredictable right now. To calm markets the Federal Reserve just lowered the discount rate by 0.5% to 5.75%. The discount rate is what the Fed charges banks for short term loans. What is a consumer to do? If you have [...]