Federally regulated banks started the week with new rules governing how they write subprime loans.
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It’s not just the subprime stew that helped slide the housing market into a slough. Housing is also mired in a muskeg of failing “Alt-A” mortgages.
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It used to be that a one-million dollar home was considered a very high-end luxury home. Well, in some markets that s not the case.
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Real estate commission rebates are back in the news.
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With mortgage delinquencies soaring-and projected to go higher this year-a unit of the Treasury Dept. last week urged banks to redouble their efforts to intervene earlier and more imaginatively with financially troubled homeowners.
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