Stacie Hartman

The Mortgage Blog of Stacie Hartman

Debate Continues Over The Future Role Of Government In Housing

In an op-ed written for the Washington Post, former treasury secretary Hank Paulson says government policies promoting homeownership fueled the housing crisis and, once the market has stabilized, should be dramatically reformed. Specifically, he recommends scaling back both Fannie Mae and Freddie Mac and reducing subsidies for homeownership. Limiting the availability of subsidies to smaller mortgages or lower-income buyers would reduce the scope of the government’s role and lead to less risk to taxpayers and the economy. Former Federal Reserve Chairman Paul Volcker also weighed in on the debate in an article from SmartMoney magazine. Volcker says Fannie Mae and Freddie Mac are unnecessary and should be eliminated because of the inherent conflict between their responsibilities to the government and their stockholders. He believes the entire mortgage market has to be reconstructed in the coming years. More here and here.

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Fannie, Freddie, and The Housing Forecast

With 25 percent of mortgages underwater and high levels of delinquencies, James Lockhart, former director of The Office of Federal Housing Enterprise Oversight, says the housing market will need another year or more before it shows signs of recovery.

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Fed Extends Refinance Program

The Federal Housing Finance Agency has extended the deadline on the Home Affordable Refinance Program. The program, administered by Fannie Mae and Freddie Mac, was set to expire on June 10 of this year and has now been extended through June 30, 2011. The effort is aimed to help homeowners who owe up to 25 percent more than their home’s value refinance to lower interest rates. About 190,180 mortgages have been refinanced since it was launched, far fewer than the 4 to 5 million originally projected. More here and here.

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About Me:

Stacie Hartman is a wholesale mortgage Account Executive working with loan officers in Oregon and SW Washington. She has 18 years in the mortgage industry, an extensive knowledge of financing options, and a commitment to open communication and client service that make her stand out in her field. Her goals begin with uncompromising service and end with excellent results and repeat business.

Contact:

Stacie Hartman
360 Mortgage Group
Account Executive
Oregon and SW Washington
Phone: 503.757.9565
Email: shartman@360mortgagegroup.com
website: www.360mortgagegroup.com

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