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Mortgage in sentence

506 examples of Mortgage in a sentence

Third, the large government-sponsored mortgage enterprises, Fannie Mae and Freddie Mac, should be used as macroeconomic-policy tools to restore housing construction to its long-term trend level.
The impetus for a big subprime market came from within the private sector: “innovation” by giant mortgage lenders like Countrywide, Ameriquest, and many others, backed by the big investment banks.
To be sure, the US has long provided subsidies to owner-occupied housing – mostly through the tax deduction for mortgage interest.
But nothing about this subsidy explains the timing of the boom in housing and outlandish mortgage lending.
First, housing can be made more affordable for poor and middle-income Americans by converting the mortgage deduction into a cashable tax credit.
The government effectively pays 50% of the mortgage interest and real estate taxes for upper-income Americans, yet does nothing for the poor.
Third, government could assume part of a mortgage, taking advantage of its lower borrowing costs.
An increase on that scale is associated in their model with a 0.3-percentage-point reduction in annual growth, and twice that in a housing-market crisis, given the high proportion of mortgage lending on EU banks’ balance sheets.
Justice for SomeNEW YORK – The mortgage debacle in the United States has raised deep questions about “the rule of law,” the universally accepted hallmark of an advanced, civilized society.
In America in the wake of the sub-prime mortgage crisis, it has done neither.
It was widely known that banks and mortgage companies were engaged in predatory lending practices, taking advantage of the least educated and most financially uninformed to make loans that maximized fees and imposed enormous risks on the borrowers.
In the end, a mortgage holder would owe far more than the bank ever received, even though the debtor had worked, in effect, one-quarter time for the bank.
They are as good as the decisions of mortgage companies and new homebuyers to spend more on new houses during the housing bubble of the mid-2000’s, or of the princes of Silicon Valley to spend more building new companies during the dot-com bubble of the late 1990’s.
US President Dwight Eisenhower expressed this thought succinctly in his State of the Union message in 1960: generating a surplus to pay back debt was a necessary “reduction on our children’s inherited mortgage.”
Graduates going into mortgage banking are faced with a different, but equally vital, challenge: to design new, more flexible loans that will better help homeowners to weather the kind of economic turbulence that has buried millions of people today in debt.
Had our policy recommendation been adopted, stockholders and debt holders (who have a higher propensity to save) would have experienced greater losses than they did, whereas lower- and middle-income households (which have a higher propensity to consume) would have experienced relief from their mortgage debt.
We did recognize a problem with our proposal: providing relief to over-indebted mortgage holders would have encountered resistance from the many homeowners who had not taken out a mortgage.
Similarly, during the Great Depression of the 1930s, the US took ownership and recapitalized banks via the Reconstruction Finance Corporation (RFC) and managed mortgage restructuring through the Home Owners’ Loan Corporation (HOLC).
The administration’s policies failed to deal with the underlying problems, and by protecting the banks rather than mortgage holders, they exacerbated the gap between America’s haves and have-nots.
Did inequality cause, for example, the subprime mortgage crisis of 2007 and hence the global financial crisis of 2008?
Mortgage subsidies contributed to the subprime loan crisis, without even primarily helping lower-income families.
“Yes” to the EITC and pre-school education; “no” to subsidies for oil, agriculture, and mortgage debt.
Of this amount, around $2 billion was received by the five best-paid individuals, who were also central to creating the highly risky asset structures that brought the financial system to the edge of the abyss: Sandy Weil (built Citigroup, which blew up shortly after he left);Hank Paulson (greatly expanded Goldman Sachs, lobbied for allowing more leverage in investment banks, then moved to the US Treasury and helped save them);Angelo Mozilo (built Countrywide, a central player in irresponsible mortgage lending);Dick Fuld (ran Lehman Brothers into the ground); and Jimmy Cayne (ran Bear Stearns into the ground).
But the US should be far more worried about promoting faster adjustment of its still-gaping trade deficit, which in many ways lies at the root of the recent sub-prime mortgage crisis.
At the same time, the cap on payroll taxes for upper-income workers could be raised, and distorting tax deductions, like that for mortgage interest, could be tightened for upper-income households.
To be sure, Deutsche Bank and other European icons such as Volkswagen and British Petroleum should answer for, respectively, misdeed in selling mortgage securities, systematically manipulating CO2-emissions tests, and polluting the Gulf of Mexico.
In 2014 for example, Citigroup convinced the US government to halve a fine almost the size of Deutsche Bank’s for the same mortgage abuse.
But this time, despite historically low mortgage interest rates, house prices have continued to fall and are now more than 10% lower in real terms than they were two years ago.
As a result, they are finding it hard to “pay for” the tax cuts with any reduction in tax expenditures (incentives for various activities such as corporate borrowing, mortgage financing, or retirement saving).
Americans don’t seem to realize that their “sub-prime” mortgage meltdown has all too much in common with many previous post-1945 banking crises throughout the world.
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