August 10, 2013 by apicomely
House finance regulator mulls action on “eminent domain” mortgage seizures
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Alfred Pollard, FHFA’s general counsel, said in a memorandum posted on the agency’s website on Thursday that the uncertainty surrounding the use of eminent domain raises several issues, including its possible impact on the mortgage market and potential losses that Fannie Mae and Freddie Ma could incur. “There is a rational basis to conclude that the use of eminent domain by localities to restructure loans for borrowers that are “underwater” on their mortgages presents a clear threat to the safe and sound operations of Fannie Mae, Freddie Mac and the Federal Home Loan Banks as provided in federal law,” Pollard wrote. The FHFA is weighing its legal options in any municipalities that approve loan restructuring programs. The agency is also considering preventing Fannie and Freddie from purchasing loans in those communities using eminent domain as a strategy for restructuring distressed mortgages. Both Fannie and Freddie, operating under federal conservatorship since they were taken over by the government in 2008 during the financial crisis, are some of the biggest buyers of private home-loan bonds.
Car finance experts Car Loan 4U comments on the Jaguar XFR-S
Macclesfield, Cheshire (PRWEB UK) 9 August 2013 Jagaur has launched its new XFR-S model, which is on sale now and priced at 79,995. The XFR-S is powered by a 543bhp 5.0-litre V8 supercharged engine and comes with an eight-speed automatic gearbox and rear-wheel drive. When it comes to hitting the road, the XFR-S can go from 0 to 62mph in 4.4 seconds and has a top speed of 186mph. Car Loan 4U Director Ryan Dignan, comments: Theres tough competition out there when you look at the likes of the BMW M5 and the Mercedes-Benz E63 AMG, and the XFR-S would appear to be Jaguars answer.