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Hope Now Alliance
The Hope Now Alliance is a cooperative effort between the US government, counselors, investors, and lenders to help homeowners who may not be able to pay their mortgages. Created in 2007 in response to the subprime mortgage crisis, the alliance claims to have helped over 1 million homeowners avoid foreclosure through January 2008. Critics of the alliance contend that the assistance provided does not go far enough, and that not enough homeowners are being helped. Creation On August 31, 2007 President George W. Bush asked Housing and Urban Development Secretary Alphonso Jackson and Treasury Secretary Henry Paulson to work with mortgage lenders, foreclosure counsellors, the Federal Housing Administration, Fannie Mae and Freddie Mac to launch a new "foreclosure avoidance initiative". These discussions led to the creation of the Hope Now alliance, which was announced by Secretary Paulson on October 10, 2007. At its inception the Alliance was composed of lenders representing 60% ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Red Cross
The American National Red Cross is a Nonprofit organization, nonprofit Humanitarianism, humanitarian organization that provides emergency assistance, disaster relief, and disaster preparedness education in the United States. Clara Barton founded the organization in 1881 after initially learning of the Red Cross, founded 1863 in Geneva, Switzerland. It is the designated American affiliate of the International Federation of Red Cross and Red Crescent Societies and the International Red Cross and Red Crescent Movement. The organization has provided services after many notable disasters, including the sinking of the Titanic, RMS ''Titanic'' in 1912, World War I, the Spanish flu, Spanish flu pandemic of 1918, World War II, Hurricane Katrina disaster relief, Hurricane Katrina, and the 2023 Hawaii wildfires, Maui wildfires of 2023. It also provides blood banking services. History and organization Founders Clara Barton established the American Red Cross in Dansville, Livingst ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freddie Mac
The Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Freddie Mac, is an American publicly traded, government-sponsored enterprise (GSE), headquartered in Tysons, Virginia.Tysons Corner CDP, Virginia ". United States Census Bureau. Retrieved on May 7, 2009. The FHLMC was created in 1970 to expand the secondary market for Mortgage loan, mortgages in the US. Along with its sister organization, the Federal National Mortgage Association (Fannie Mae), Freddie Mac buys mortgages, pools them, and sells them as a mortgage-backed security (MBS) to private investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purcha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Advocacy Groups In The United States
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. Howeve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Neighborhood Associations
A neighbourhood (Commonwealth English) or neighborhood (American English) is a geographically localized community within a larger town, city, suburb or rural area, sometimes consisting of a single street and the buildings lining it. Neighbourhoods are often social communities with considerable face-to-face interaction among members. Researchers have not agreed on an exact definition, but the following may serve as a starting point: "Neighbourhood is generally defined spatially as a specific geographic area and functionally as a set of social networks. Neighbourhoods, then, are the spatial units in which face-to-face social interactions occur—the personal settings and situations where residents seek to realise common values, socialise youth, and maintain effective social control." Preindustrial cities In the words of the urban scholar Lewis Mumford, "Neighborhoods, in some annoying, inchoate fashion exist wherever human beings congregate, in permanent family dwellings; and ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subprime Mortgage Crisis
The American subprime mortgage crisis was a multinational financial crisis that occurred between 2007 and 2010, contributing to the 2008 financial crisis. It led to a severe economic recession, with millions becoming unemployed and many businesses going bankrupt. The U.S. government intervened with a series of measures to stabilize the financial system, including the Troubled Asset Relief Program (TARP) and the American Recovery and Reinvestment Act (ARRA). The collapse of the United States housing bubble and high interest rates led to unprecedented numbers of borrowers missing mortgage repayments and becoming delinquent. This ultimately led to mass foreclosures and the devaluation of housing-related securities. The housing bubble preceding the crisis was financed with mortgage-backed securities (MBSes) and collateralized debt obligations (CDOs), which initially offered higher interest rates (i.e. better returns) than government securities, along with attractive risk ratin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of The Comptroller Of The Currency
The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to corporate charter, charter, bank regulation in the United States, regulate, and supervise all National bank (United States), national banks and Federal savings association, federal thrift institutions and the federally licensed branches and agencies of foreign banks in the United States. The acting comptroller of the currency is Rodney E. Hood, who took office on February 10, 2025. Duties and functions Headquartered in Washington, D.C., it has four district offices located in New York City, Chicago, Dallas and Denver. It has an additional 92 operating locations throughout the United States. It is an independent Government agency, bureau of the United States Department of the Treasury and is headed by the comptroller of the currency, appointed to a five-year term by the president w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inman News
Brad Inman is a journalist, author and entrepreneur. He is known for founding the Livelong Media, Inman Group and organizing the Inman Connect conferences in real estates. Career His career began in journalism, writing a sports column in high school and later covering urban housing issues in San Francisco, which led to a 16-year column for the San Francisco Examiner. Inman later collected a number of these articles into a book, California Real Estate: the 1980s & 1990s. Inman founded Inman News in 1996 as an online news source for the real estate industry. Inman News was sold in 2021 to Beringer Capital. He was on the Microsoft team that launched HomeAdvisor in 1998. He founded online real estate firm HomeGain.com in 1999, which was acquired by Classified Ventures in 2005. In 2005, Inman started TurnHere.com, an Internet video production and distribution platform that produced editorial and advertising content for companies such as ''Conde Nast'', NBC, Williams Sonoma, Yelp an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loss Mitigation
Loss mitigation is used to describe a third party helping a homeowner, a division within a bank that mitigates the loss of the bank, or a firm that handles the process of negotiation between a homeowner and the homeowner's lender. Loss mitigation works to negotiate mortgage terms for the homeowner that will prevent foreclosure. These new terms are typically obtained through loan modification, short sale negotiation, short refinance negotiation, deed in lieu of foreclosure, cash-for-keys negotiation, a partial claim loan, repayment plan, forbearance, or other loan work-out. All of these options aim to reduce financial risks for the lender (or investor). Kinds of loss mitigation * Loan modification: This is a process whereby a homeowner's mortgage is modified and both lender and homeowner are bound by the new terms. The most common modifications are lowering the interest rate and extending the term to up to 40 years. Reduction in the principal balance, however, is so rare that t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Toll-free Telephone Number
A toll-free telephone number or freephone number is a telephone number that is billed for all arriving calls. For the calling party, a call to a toll-free number is free of charge, unless air-charges apply for mobile telephone service. A toll-free number is identified by a dialing prefix similar to an area code. The specific service access varies by country. History The features of toll-free services have evolved as telephone networks have evolved from electro-mechanical call switching to computerized stored program controlled networks. Originally, before the automatic system was developed, a call billed to the called party had to be placed through a telephone company operator as a collect call, often long-distance. The operator had to secure acceptance of the charges at the destination number, or even transfer that decision to a long-distance operator, before manually completing the call. Some large businesses and government offices received large numbers of collect calls, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage-backed Security
A mortgage-backed security (MBS) is a type of asset-backed security (an "Financial instrument, instrument") which is secured by a mortgage loan, mortgage or collection of mortgages. The mortgages are aggregated and sold to a group of individuals (a government agency or investment bank) that securitization, securitizes, or packages, the loans together into a security that investors can buy. Bonds securitizing mortgages are usually treated as a separate class, termed Residential mortgage-backed security, residential; another class is Commercial mortgage-backed security, commercial, depending on whether the underlying asset is mortgages owned by borrowers or assets for commercial purposes ranging from office space to multi-dwelling buildings. The structure of the MBS may be known as pass-through security, "pass-through", where the interest and principal payments from the borrower or homebuyer pass through it to the MBS holder, or it may be more complex, made up of a pool of other MBSs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
White House Press Secretary
The White House press secretary is a senior White House official whose primary responsibility is to act as spokesperson for the executive branch of the United States federal government, especially with regard to the president, senior aides and executives, as well as government policies. The press secretary is responsible for collecting information about actions and events within the president's administration and issues the administration's reactions to developments around the world. The press secretary interacts with the media and the White House press corps on a daily basis, generally in a daily press briefing. The press secretary serves by the appointment and at the pleasure of the president of the United States; the office does not require the advice and consent of the United States Senate; however, because of the frequent briefings given to the global media, who in turn inform the public, the position is a prominent non-Cabinet post. On January 20, 2025, Karoline Leavitt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fannie Mae
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the New Deal, the corporation's purpose is to expand the secondary mortgage market by securitization, securitizing mortgage loans in the form of mortgage-backed security, mortgage-backed securities (MBS), allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (or "thrifts"). Its brother organization is the Federal Home Loan Mortgage Corporation (FHLMC), better known as Freddie Mac. In 2024, with over $4.3 trillion in assets, Fannie Mae is the largest company in the United States and the fifth largest company in the world, by assets. Fannie Mae was ranked number 27 on the Fortune 500, ''Fortune'' 50 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
