Taking the lead in mortgage reform, Jamie Dimon, CEO of JPMorgan Chase, the second largest bank in the country, says the current mortgage situation is a “mess.” JPMorgan Chase owns billions in troubled mortgages, a result of its acquisition of Washington Mutual. Nevertheless, Dimon is calling for a major top-to-bottom overhaul of the U.S. mortgage [...]

Millions of people around the world have felt the pinch of the economic downturn. As unemployment rises, more and more people find themselves without a job. Many of those people find also their financial health quickly deteriorating. This economic cycle has played out many times throughout our history. Unfortunately, the economy often improves faster than [...]

Business week has an interesting article about FHA loans, which they refer to as “the new subprime.” These Federal Housing Authority-backed loans are designed to encourage homeownership by helping people with modest means qualify for a loan. Washington, in the midst of the mortgage meltdown, has loosened requirements for such loans and it’s Businessweek’s contention [...]