GATINEAU, Quebec, May 05, 2008 — The Government of Canada is making home ownership a reality for more First Nations people living on reserve. Today, Monte Solberg, Minister of Human Resources and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC) and Chuck Strahl, Minister of Indian and Northern Affairs Canada and Federal Interlocutor for …
Fed Chairman Ben Bernanke said accelerating rates of
foreclosures and delinquencies can have a significant impact on
the economy and called for more to be done in order to prevent them.
Lending standards at U.S. banks are increasingly
stringent, according to the Federal Reserve’s April 2008 Senior Loan
Officer Opinion Survey on Bank Lending Practices.
With Washington increasingly relying on Fannie and
Freddie to pick up the slack in buying mortgages and mortgage-
backed securities - the two between them bought 80 percent of all
mortgages purchased by investors in the first quarter of 2008 - The New
York Times in an article on Tuesday asked whether the two companies were
up to the task.
Deteriorating conditions in the U.S. housing market contributed to a
larger-than-expected first quarterly loss from U.S. mortgage giant FNMA
(Fannie Mae) on Tuesday morning, which reported a loss
per share of $2.57 or net losses of $2.2 billion.