Exact(1)
Additional revenue was approved in the form of increased mortgage taxes and auto-use taxes.
Similar(59)
In both cases, Moody's said the move reflects concerns over the firm's new business prospects and the possibility of increased mortgage-related losses.
"It is now clear that we will not be able to avert a more serious and prolonged economic slowdown if we don't address the problem of increasing mortgage foreclosures," Representative Barney Frank, chairman of the House Financial Services Committtee, said on Tuesday.
The Australian Prudential Regulatory Authority is leading the process of increasing mortgage risk weights for the big banks and ensuring they have stronger capital ratios – a process that has been cited by Westpac as a justification for its decision to increase mortgage interest rates.
Not surprisingly, banks have catered to these desires with a bevy of products, including vastly increased mortgage lending (in fact, increasing to the point of catastrophe as we recently witnessed) along with home-equity loans, investment and retirement advisors, and a customer service relationship centered on local branches.
Until now, Americans have kept up their standard of living by increasing mortgage and credit-card debt at the same time.
As Congress decides who will be winners and losers in paying for the cost of government, homeowners will likely be "on the menu" as they were in 2011 when Congress passed a two month payroll tax and unemployment extension on the backs of homeowners by increasing mortgage fees.
The pace of home-building has slowed since May, and the report is the latest sign that the combination of rising home values and increasing mortgage rates may be weighing on the market.
But she did say that the growing mortgage problem among households with high FICO scores might be linked to two areas of increasing trouble in the mortgage industry -- namely, defaults on vacation homes, and so-called strategic defaults, in which owners abandon homes that are worth less than the mortgage.
The rate of increase excluding mortgage interest is down from 2.8% in June 2017 to 2.4%.
I have been notoriously hard on HUD, the FHA, even Commissioner Galante about the consumer gouging nature of ever increasing FHA mortgage insurance premiums and the interestingly managed runaway deficit MMI Fund.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com