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Tag Archives: Saving the Borrower

Raise Your Financial Literacy for the New Transparency

Transparency is the new buzz word flying around Capitol Hill and joint conferences dealing with new financial oversight legislation.  With this push for transparency the dry and academic topic of financial literacy becomes all the more important. Financial literacy is the individual’s commitment to be aware of and responsible for all aspects of a contemplated financial transaction. … Continue Reading

The Safeguards Rule of the GLB Act

The Safeguards Rule The FTC drafted Standards for Safeguarding Customer Information, which it published on May 23, 2002.  The Rule was drafted in response to the Congressional directive issued to establish “… appropriate standards… to insure the security of customer records and information; to protect against any unanticipated threats or hazards to the security or… Continue Reading

Taxpayer Money Not Buying Troubled Assets

•  Treasury Secretary Paulson today pulled the plug on the “troubled asset” purchase program or TARP.  Instead we taxpayers will be propping up ailing companies and reviving the asset-backed securities market.  Few banks have the common equity capital to take the hits from selling the assets below book.  Most likely outcome of this change, however,… Continue Reading

Even If You Don’t Have an ARM – Listen Up!

After denying the existence of a problem in the mortgage and housing industry earlier this year, the current administration through the Treasury Department has come up with a plan. “We believe that any efforts by Treasury, originators, servicers and investors to help families in distress weather the current downturn are welcome and positive developments,” Freddie… Continue Reading

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