Lending Related News, Articles and Tutorials

Let me get this right. We are going to give money to the institutions that are responsible for mismanaging their loans, so that they can give money to the people who mismanaged their mortgages, and administer these funds through Fannie Mae and Freddie Mac who guaranteed the bad loans in the first place. Stop for one second and say that out loud.

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Direct Banc - The U.S. Senate is currently considering a bill which could possibly save consumers that use credit cards on a regular basis. The Bill, Credit Card Fair Fee Act, sponsored by U.S. Senator Dick Durbin (D-IL), contends that credit card issuers have an unfair advantage in the marketplace based on the fact that they control 40% of retail transactions across the country. The legislation is specifically aimed at the bank’s interchange fees that they charge on every credit card transaction.

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With gas prices skyrocketing, millions of people are flocking to gas cards to help with the rising fuel cost. Gas cards are brand specific credit cards that offer consumers rebates and rewards for using their credit card. Like most credit cards that offer a reward programs, there are specific guidelines that consumers’ need to be aware of. In many cases, a traditional credit card is better suited for the task. Read the rest of this entry »

In late 2006 the economy was showing indicators that pointed to a looming mortgage crisis that would ultimately disrupt the flow of business in the secondary market. Investors, who are essential to the flow of money, basically ignored the warning signs but began trading more cautiously. What they ignored was the “perfect storm” as it relates to our secondary mortgage market. The housing bubble burst, sub-prime loans began adjusting, investors stopped trading, and mortgage companies were left holding mortgages that were not worth what they paid for them. Read the rest of this entry »