{"id":2550,"date":"2008-01-29T19:31:06","date_gmt":"2008-01-30T02:31:06","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=2550"},"modified":"2008-01-30T09:47:57","modified_gmt":"2008-01-30T16:47:57","slug":"helocs-frozen-preserving-american-homeownership","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2550\/helocs-frozen-preserving-american-homeownership\/","title":{"rendered":"HELOCs Frozen: Preserving American Homeownership"},"content":{"rendered":"

Preserving the American Dream is a position paper authored by John Dugan<\/a>, Comptroller of the Currency. “Preserving American Home Ownership” is the “initiative” rumored to be pondered by Countrywide Home Loans, IndyMac Bank, and Washington Mutual.<\/p>\n

N.B.: The following is rumor; something that was “heard on the street”<\/strong>.<\/p>\n

Jeffrey Smith reported, two weeks ago, that Countrywide is freezing some home equity lines of credit<\/a>. The wholesale lending reps and escrow officers, in my own little network, were buzzing about the possibility of such an action from Countrywide, WaMu, and IndyMac.<\/p>\n

More on this rumor as it develops. Today, it’s just a rumor. I think it’s comical the Countrywide won’t do anything without a PR\/Marketing twist to it (as a marketer, I love it). It is rumored that the CFC initiative will be “Preserving American Home Ownership”<\/p>\n

UPDATE:\u00a0<\/strong> While I haven’t confirmed the rumor with Countrywide, there is one disenfranchised Countrywide borrower, getting pummeled by the bubbleheads on a Yahoo message board<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Preserving the American Dream is a position paper authored by John Dugan, Comptroller of the Currency. “Preserving American Home Ownership” is the “initiative” rumored to be pondered by Countrywide Home Loans, IndyMac Bank, and Washington Mutual. N.B.: The following is rumor; something that was “heard on the street”. Jeffrey Smith reported, two weeks ago, that […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,5],"tags":[],"class_list":{"0":"post-2550","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-lending","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1250,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1250\/a-farewell-to-arms-one-less-option\/","url_meta":{"origin":2550,"position":0},"title":"A Farewell to ARMs: One Less Option","author":"Brian Brady","date":"April 1, 2007","format":false,"excerpt":"Are Option ARMs the next casualty in the non prime mortgage meltdown war? Wall Street fired the shot heard 'round the world in the mortgage default war by demanding repurchases from subprime lenders. Lenders either closed their doors or waved the white flag and allowed the conquering army to annex\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4374,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4374\/mortgage-market-week-in-review-9\/","url_meta":{"origin":2550,"position":1},"title":"Mortgage Market Week in Review","author":"Tom Vanderwell","date":"September 12, 2008","format":false,"excerpt":"Well, it\u2019s Friday again, so it\u2019s time for another Mortgage Market Week in Review.\u00a0\u00a0 I\u2019m going to talk just a little about Fannie and Freddie and then deal with some of the other issues that are currently affecting the financial markets. First Fannie and Freddie: As EVERYONE knows by now,\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3330,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3330\/indymac-bank-to-close\/","url_meta":{"origin":2550,"position":2},"title":"IndyMac Bank To Close?","author":"Brian Brady","date":"July 7, 2008","format":false,"excerpt":"Depositors are fleeing because legislators are pressing. But depositors may have been spooked by a letter late last week from Sen. Charles E. Schumer (D-N.Y.) to the Federal Deposit Insurance Corp., the Office of Thrift Supervision and the Federal Home Loan Bank of San Francisco, saying he was \"concerned that\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2002,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2002\/the-mortgage-liquidity-crisis-is-over\/","url_meta":{"origin":2550,"position":3},"title":"The Mortgage Liquidity Crisis Is Over","author":"Brian Brady","date":"October 3, 2007","format":false,"excerpt":"The liquidity crisis in the mortgage industry is over. I don't mean that we are going back to the lending guidelines of the go-go years of 2003-2006 but the non-conforming loan guidelines are coming back to a sense of normalcy. Dan Green talked about the non-conforming home loan market being\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3352,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3352\/mortgage-market-week-in-review-fannie-and-freddie\/","url_meta":{"origin":2550,"position":4},"title":"Mortgage Market Week in Review – Fannie and Freddie","author":"Tom Vanderwell","date":"July 11, 2008","format":false,"excerpt":"Okay, here it is Friday afternoon and time to write the \"Mortgage Market Week in Review.\" You know how some newscasts warn you to tell the kids to go in the other room because what comes on next isn't going to be pretty? Well, there aren't any pictures but what's\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1855,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1855\/the-new-york-times-goes-on-a-countrywide-manhunt\/","url_meta":{"origin":2550,"position":5},"title":"The New York Times goes on a Countrywide manhunt","author":"Greg Swann","date":"August 25, 2007","format":false,"excerpt":"The New York Times on the Countrywide mess and how the company got there:ON its way to becoming the nation\u2019s largest mortgage lender, the Countrywide Financial Corporation encouraged its sales force to court customers over the telephone with a seductive pitch that seldom varied. \u201cI want to be sure you\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=2550"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2550\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=2550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=2550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=2550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}