Sherman’s News and Editorials

According to an April 17 article by Marcy Gordon of the Associated Press, which was also reported on the blog at The Real Estate Portal Federal bank regulators have called upon lenders generally to work with the many troubled borrowers who are having a difficult time with their mortgage payments. As everyone know knows all too well, delinquencies & foreclosures have been sharply increasing recently, particularly for those many individuals who took out the risky subprime loans. This distress has roiled financial markets and increased worries that it could spill over into the larger national economy. The various proposals for subprime loans of government-sponsored Fannie Mae & Freddie Mac, the largest single buyers of mortgages in the nation, were disclosed by their top executives at a hearing by the House Financial Services Committee.