Search

Refinancing Not a Zero Sum Game

by devteam January 13th, 2012 | Share

New York Fed President William Dudleyrnrecently called for broad-based refinancing of performing home mortgages.  It wasn’t a statement that elicited a lot ofrnattention, but now, building on these remarks, Dudley’s senior advisor and FedrnExecutive Vice President Joseph Tracy and Joshua Wright, a senior traderrnanalyst in the bank’s Markets Group have posted a blog post explaining how suchrnan action might stabilize the housing market and support economic growth.  </p

The two point out that we need to stoprnlooking at whether broad-based refinancing is “fair” or who gains the most andrnlook instead at what might be accomplished if one segment of society, i.e.rnhomeowners who are paying as agreed on mortgages that are costing them morernthan should be the case, are granted relief. rnIt need not, they maintain, unduly penalize others, in this case thernparties who have invested in the mortgages or the economy as a whole.  </p

The two make some solid arguments and the topic could benefit from some wide-spread disucssion.  We recommend you read Why Mortgage Refinancing is Not a Zero-Sum Game.</p

All Content Copyright © 2003 – 2009 Brown House Media, Inc. All Rights Reserved.nReproduction in any form without permission of MortgageNewsDaily.com is prohibited.

About the Author

devteam

Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

See all blogs
Share

Comments

Leave a Comment

Leave a Reply

Latest Articles

Real Estate Investors Skip Paying Loans While Raising Billions

By John Gittelsohn August 24, 2020, 4:00 AM PDT Some of the largest real estate investors are walking away from Read More...

Late-Stage Delinquencies are Surging

Aug 21 2020, 11:59AM Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Read More...

Published by the Federal Reserve Bank of San Francisco

It was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...