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Wednesday, December 05, 2007

The Bush / Paulson Mortgage Freeze Plan

by Calculated Risk on 12/05/2007 05:08:00 PM

I believe Tanta is working on an analysis for tomorrow or later this week. Meanwhile here are some details via Bloomberg: Subprime Rate Five-Year Fix Agreed by U.S. Regulators

The freeze may apply to mortgages issued between January 2005 and July 2007 that are currently scheduled to reset between January 2008 and July 2010, said a person who has seen a draft proposal. Borrowers whose credit scores are below 660 out of a possible 850 and haven't risen by 10 percent since the loan was issued will be given priority.