By Renae Merle
Washington Post Staff Writer
Friday, February 26, 2010
The Federal Deposit Insurance Corp. is developing a program to test whether cutting the mortgage balances of distressed borrowers who owe significantly more than their homes are worth is an effective method for saving homeowners from foreclosure.
The program would be aimed at a growing population of homeowners who are underwater on their loans, estimated at more than 20 percent of borrowers, or 11 million homeowners. Economists consider these borrowers among the most vulnerable to foreclosure, and some industry officials worry that more of them will simply walk away from their mortgages, or "strategically default," rather than spend a decade or more trying to regain positive equity.
Friday, February 26, 2010
Monday, February 22, 2010
Top Updates: Week of feb 22nd, 2010
Obama's $1.5 billion financing plan would help struggling homeowners in 5 states
By Michael D. Shear and Renae Merle
Washington Post Staff Writer
Saturday, February 20, 2010
LAS VEGAS -- President Obama unveiled a $1.5 billion program to aid the states hardest hit by the foreclosure crisis, a small but targeted effort to address a housing problem that continues to resist government solutions.
Va. House, Senate pass competing budgets to close deficit
By Rosalind S. Helderman and Fredrick Kunkle
Washington Post Staff Writer
Monday, February 22, 2010
RICHMOND -- Budget writers in the Virginia Senate and House of Delegates adopted competing plans Sunday to shrink government services in the face of a $4 billion budget shortfall.
White House crafts jobs bill, a year into stimulus effort
By Neil Irwin, Lori Montgomery and Alec MacGillis
Washington Post Staff Writer
Thursday, February 18, 2010
The giant economic stimulus package enacted a year ago has helped stabilize the economy but has not made much of a dent in the nation's vast unemployment.
Manufacturing, housing growth up in January, Federal Reserve says
By Zachary A. Goldfarb
Washington Post Staff Writer
Thursday, February 18, 2010
Economic growth continued in January as manufacturing and housing activity ramped up, according to data released Wednesday, but top Federal Reserve officials projected at their meeting last month that high unemployment will persist.
Administration pushed to expand foreclosure-prevention program
By Renae Merle
Washington Post Staff Writer
Thursday, February 18, 2010
The Obama administration is facing increasing pressure from lawmakers and housing advocates to retool its troubled mortgage relief program a year after its debut as the housing crisis continues to deepen and spreads to more creditworthy borrowers.
Metro area counties, cities receive high health ranking despite poor air quality
By Lena H. Sun
Washington Post Staff Writer
Wednesday, February 17, 2010
Fairfax, Arlington and Loudoun are the healthiest counties in Virginia, and Howard, Montgomery and Frederick top the list in Maryland, according to a set of reports to be released Wednesday. The reports rank U.S. counties and cities based on how long people live and how healthy they are.
By Michael D. Shear and Renae Merle
Washington Post Staff Writer
Saturday, February 20, 2010
LAS VEGAS -- President Obama unveiled a $1.5 billion program to aid the states hardest hit by the foreclosure crisis, a small but targeted effort to address a housing problem that continues to resist government solutions.
Va. House, Senate pass competing budgets to close deficit
By Rosalind S. Helderman and Fredrick Kunkle
Washington Post Staff Writer
Monday, February 22, 2010
RICHMOND -- Budget writers in the Virginia Senate and House of Delegates adopted competing plans Sunday to shrink government services in the face of a $4 billion budget shortfall.
White House crafts jobs bill, a year into stimulus effort
By Neil Irwin, Lori Montgomery and Alec MacGillis
Washington Post Staff Writer
Thursday, February 18, 2010
The giant economic stimulus package enacted a year ago has helped stabilize the economy but has not made much of a dent in the nation's vast unemployment.
Manufacturing, housing growth up in January, Federal Reserve says
By Zachary A. Goldfarb
Washington Post Staff Writer
Thursday, February 18, 2010
Economic growth continued in January as manufacturing and housing activity ramped up, according to data released Wednesday, but top Federal Reserve officials projected at their meeting last month that high unemployment will persist.
Administration pushed to expand foreclosure-prevention program
By Renae Merle
Washington Post Staff Writer
Thursday, February 18, 2010
The Obama administration is facing increasing pressure from lawmakers and housing advocates to retool its troubled mortgage relief program a year after its debut as the housing crisis continues to deepen and spreads to more creditworthy borrowers.
Metro area counties, cities receive high health ranking despite poor air quality
By Lena H. Sun
Washington Post Staff Writer
Wednesday, February 17, 2010
Fairfax, Arlington and Loudoun are the healthiest counties in Virginia, and Howard, Montgomery and Frederick top the list in Maryland, according to a set of reports to be released Wednesday. The reports rank U.S. counties and cities based on how long people live and how healthy they are.
Tuesday, February 16, 2010
Top Updates: Week of February 15th, 2010
U.S. looks to reluctant foreign investors to help fund the housing market
By Howard Schneider
By Howard Schneider
Washington Post Staff Writer Tuesday, February 16, 2010
As the U.S. housing market boomed in the past decade and fueled a bull market in mortgage investments, Norway's government-owned fund went along for the ride -- and the fall.
As the U.S. housing market boomed in the past decade and fueled a bull market in mortgage investments, Norway's government-owned fund went along for the ride -- and the fall.
Tougher financial regulations not coming fast or easy for SEC's Mary Schapiro
By Zachary A. Goldfarb
Tuesday, February 16, 2010
As Mary Schapiro took the reins of the Securities and Exchange Commission last year, she faced a torrent of complaints from lawmakers and bankers that Wall Street short sellers had driven down bank stocks during the financial crisis, contributing to the fear that gripped the nation.
By Zachary A. Goldfarb
Tuesday, February 16, 2010
As Mary Schapiro took the reins of the Securities and Exchange Commission last year, she faced a torrent of complaints from lawmakers and bankers that Wall Street short sellers had driven down bank stocks during the financial crisis, contributing to the fear that gripped the nation.
Fed Wants Banks' Loan-Level Data to Prevent Meltdown Repeat
02/15/2010 By: Carrie Bay
Moody's Expects HAMP Missteps to Prolong Home Price Declines
By: Carrie Bay
Moody’s Investors Service is forecasting another 8 percent decline in home prices over the course of 2010 before a bottom in residential property values is reached, 
largely because of the “underwhelming” success of the administration’s Home Affordable Modification Program (HAMP).
largely because of the “underwhelming” success of the administration’s Home Affordable Modification Program (HAMP).
Mutual of Omaha Bank Approved for Fannie Mae's AD&C Program
By: Brittany Dunn Mutual of Omaha Bank, based in Omaha, Nebraska, was recently approved as a lead bank partner for Fannie Mae’s acquisition, development, and construction (AD&C) financing program, a secondary market program in which Fannie Mae buys participation interests in construction loans originated by its lending partners.
By: Brittany Dunn Mutual of Omaha Bank, based in Omaha, Nebraska, was recently approved as a lead bank partner for Fannie Mae’s acquisition, development, and construction (AD&C) financing program, a secondary market program in which Fannie Mae buys participation interests in construction loans originated by its lending partners.
Monday, February 15, 2010
Refinancing unavailable for many borrowers
By Dina ElBoghdady and Renae Merle
Washington Post Staff Writer
Sunday, February 14, 2010
The refinancing wave that swept the nation when mortgage rates hit historic lows last year is petering out, leaving behind millions of homeowners who could not qualify for the best rates.
Half of the nation's borrowers have mortgages with rates above 6 percent even though the average rate on 30-year, fixed-rate mortgages has been about 5 percent for most of the past year, according to research firm First American CoreLogic.
Washington Post Staff Writer
Sunday, February 14, 2010
The refinancing wave that swept the nation when mortgage rates hit historic lows last year is petering out, leaving behind millions of homeowners who could not qualify for the best rates.
Half of the nation's borrowers have mortgages with rates above 6 percent even though the average rate on 30-year, fixed-rate mortgages has been about 5 percent for most of the past year, according to research firm First American CoreLogic.
Mortgage officials try exits softer than foreclosures
By Renae Merle
Washington Post Staff Writer
Thursday, February 11, 2010
Seeking alternatives to the nation's struggling foreclosure prevention efforts, federal and mortgage industry officials increasingly are looking for ways to get distressed borrowers to leave their homes voluntarily, without going through the expensive foreclosure process or a messy eviction.
Washington Post Staff Writer
Thursday, February 11, 2010
Seeking alternatives to the nation's struggling foreclosure prevention efforts, federal and mortgage industry officials increasingly are looking for ways to get distressed borrowers to leave their homes voluntarily, without going through the expensive foreclosure process or a messy eviction.
Monday, February 8, 2010
7-Day Forecast for Vienna, VA
7-Day Forecast for Vienna, VA brought to you by your National Weather Service forecast
Hazardous weather condition(s):
Winter Storm WatchHazardous Weather Outlook
The greatest three day snowfalls on record:
(*NOTE* Data are unofficial. Please contact the National Climatic Data Center for official data):
Hazardous weather condition(s):
Winter Storm WatchHazardous Weather Outlook
The greatest three day snowfalls on record:
(*NOTE* Data are unofficial. Please contact the National Climatic Data Center for official data):
| DC | Baltimore | Dulles |
| 28" Jan 1922 | 26.8" Feb 2003 | 24.6" Jan 1996 |
| 20" Feb 13 1899 | 26.6" Jan 1996 | 22.8" Feb 1983 |
| 18.7" Feb 1979 | 26.5" Jan 1922 | 21.7" Feb 2003 |
| 17.3" Jan 1996 | 22.8" Feb 1983 | 19.3" Dec 2009 |
Top Updates: Week of February 8th, 2010
WTOP Snow Emergency Guide
WASHINGTON - With heavy snow expected, you may want to keep this information handy.
WTOP recommends you print it out ahead of the snow and any possible power outages. Read more...
The bronze flag-raisers of the Marine Corps War Memorial are draped with snow, in Arlington, Va., Wednesday, Feb. 3, 2010, that blanketed the metropolitan Washington area. (AP Photo/J. Scott Applewhite)>
Utility Phone Numbers
Pepco: 1- 877-737-2662
Dominion Virginia Power: 1- 888-667-3000
Allegheny Power: 1-800-255-3443
NOVEC - Northern Virginia Electric Cooperative: 1-888-335-0500
Baltimore Gas & Electric: 1-877-778-2222
SMECO - Southern Maryland Electric Cooperative: 1-877-74-SMECO
Rappahannock Electric Cooperative - 1-800-552-3904
Government Snow Hotlines:
D.C. - Residents can call 311
Maryland:
Montgomery County - 240-777-6000
Prince George's County - 301.350.0500
Frederick County - 301-600-3000
Anne Arundel County - 410- 222-0600
Howard County - 410-313-2900
Virginia:
Arlington County - 703-228-6485
Fairfax County - 703-817-7771
Stafford County - 540- 658-5751
INSIDER TRANSACTIONS
Monday, February 8, 2010
Thomson Financial.
The week ahead: Feb. 8-12 in business
Monday, February 8, 2010
This week will bring a fresh reading on retail sales, the first congressional testimony of the year by Federal Reserve Chairman Ben S. Bernanke, and the first release of a new and potentially useful economic indicator.
Washington region digs out, but more snow ahead Tuesday
By Ashley Halsey III and Matt Zapotosky
Washington Post Staff Writer
Monday, February 8, 2010
In the aftermath of the weekend's massive snowstorm, the region came to grips with the fact that digging out will take days, even as more potentially paralyzing winter weather appeared headed this way by Tuesday.
Come summer, D.C. area students may pay the price for snow days
By Michael Birnbaum
Washington Post Staff Writer
Monday, February 8, 2010
All Washington area school systems are expected to stay closed Monday, and with another snow wallop threatening to arrive Tuesday, it's not clear when they'll reopen.
Historic snowstorm in D.C. leaves a mess to be reckoned with
By Carol Morello and Ashley Halsey III
Washington Post Staff Writer
Sunday, February 7, 2010
The Washington region was paralyzed by a blizzard that dumped more than two feet of heavy snow on the area by late Saturday, knocking out power for hundreds of thousands of people, toppling trees and reducing many streets to pedestrian pathways.
D.C. posts new regulations to clarify bag tax
By Tim Craig
Washington Post Staff Writer
Saturday, February 6, 2010
The D.C. Department of the Environment published new regulations Friday clarifying which retail stores have to charge the 5-cent tax on plastic bags and how the city will enforce the law.
WASHINGTON - With heavy snow expected, you may want to keep this information handy.
WTOP recommends you print it out ahead of the snow and any possible power outages. Read more...
The bronze flag-raisers of the Marine Corps War Memorial are draped with snow, in Arlington, Va., Wednesday, Feb. 3, 2010, that blanketed the metropolitan Washington area. (AP Photo/J. Scott Applewhite)>
Utility Phone Numbers
Pepco: 1- 877-737-2662
Dominion Virginia Power: 1- 888-667-3000
Allegheny Power: 1-800-255-3443
NOVEC - Northern Virginia Electric Cooperative: 1-888-335-0500
Baltimore Gas & Electric: 1-877-778-2222
SMECO - Southern Maryland Electric Cooperative: 1-877-74-SMECO
Rappahannock Electric Cooperative - 1-800-552-3904
Government Snow Hotlines:
D.C. - Residents can call 311
Maryland:
Montgomery County - 240-777-6000
Prince George's County - 301.350.0500
Frederick County - 301-600-3000
Anne Arundel County - 410- 222-0600
Howard County - 410-313-2900
Virginia:
Arlington County - 703-228-6485
Fairfax County - 703-817-7771
Stafford County - 540- 658-5751
INSIDER TRANSACTIONS
Monday, February 8, 2010
Thomson Financial.
The week ahead: Feb. 8-12 in business
Monday, February 8, 2010
This week will bring a fresh reading on retail sales, the first congressional testimony of the year by Federal Reserve Chairman Ben S. Bernanke, and the first release of a new and potentially useful economic indicator.
Washington region digs out, but more snow ahead Tuesday
By Ashley Halsey III and Matt Zapotosky
Washington Post Staff Writer
Monday, February 8, 2010
In the aftermath of the weekend's massive snowstorm, the region came to grips with the fact that digging out will take days, even as more potentially paralyzing winter weather appeared headed this way by Tuesday.
Come summer, D.C. area students may pay the price for snow days
By Michael Birnbaum
Washington Post Staff Writer
Monday, February 8, 2010
All Washington area school systems are expected to stay closed Monday, and with another snow wallop threatening to arrive Tuesday, it's not clear when they'll reopen.
Historic snowstorm in D.C. leaves a mess to be reckoned with
By Carol Morello and Ashley Halsey III
Washington Post Staff Writer
Sunday, February 7, 2010
The Washington region was paralyzed by a blizzard that dumped more than two feet of heavy snow on the area by late Saturday, knocking out power for hundreds of thousands of people, toppling trees and reducing many streets to pedestrian pathways.
D.C. posts new regulations to clarify bag tax
By Tim Craig
Washington Post Staff Writer
Saturday, February 6, 2010
The D.C. Department of the Environment published new regulations Friday clarifying which retail stores have to charge the 5-cent tax on plastic bags and how the city will enforce the law.
Thursday, February 4, 2010
Top Updates: Week of Feb 1st, 2010
D.C. unemployment rate increases overall number for Washington metro area
By V. Dion Haynes
Wednesday, February 3, 2010
Unemployment in the Washington region rose slightly in December, to 6.2 percent, according to government data released Tuesday, pushed up largely by an increase in the District's jobless rate.
Struggling banks need government help, trade group says
By Binyamin Appelbaum and David Cho
Washington Post Staff Writer
Wednesday, February 3, 2010
The head of a major trade group for community banks said Tuesday that the Obama administration's $30 billion program to spur small-business lending would not work unless the government offered money to struggling banks alongside stronger ones.
Dour forecast underpins Obama's budget plan
By Neil Irwin
Washington Post Staff Writer
Wednesday, February 3, 2010
President Obama's proposed budget rests on a series of gloomy economic projections, which suggest that the administration does not foresee a quick leap out of the deepest downturn in generations.
Rising FHA default rate foreshadows a crush of foreclosures
By Dina ElBoghdady and Dan Keating
Washington Post Staff Writer
Tuesday, February 2, 2010
The share of borrowers who are falling seriously behind on loans backed by the Federal Housing Administration jumped by more than a third in the past year, foreshadowing a crush of foreclosures that could further buffet an agency vital to the housing market's recovery.
By V. Dion Haynes
Wednesday, February 3, 2010
Unemployment in the Washington region rose slightly in December, to 6.2 percent, according to government data released Tuesday, pushed up largely by an increase in the District's jobless rate.
Struggling banks need government help, trade group says
By Binyamin Appelbaum and David Cho
Washington Post Staff Writer
Wednesday, February 3, 2010
The head of a major trade group for community banks said Tuesday that the Obama administration's $30 billion program to spur small-business lending would not work unless the government offered money to struggling banks alongside stronger ones.
Dour forecast underpins Obama's budget plan
By Neil Irwin
Washington Post Staff Writer
Wednesday, February 3, 2010
President Obama's proposed budget rests on a series of gloomy economic projections, which suggest that the administration does not foresee a quick leap out of the deepest downturn in generations.
Rising FHA default rate foreshadows a crush of foreclosures
By Dina ElBoghdady and Dan Keating
Washington Post Staff Writer
Tuesday, February 2, 2010
The share of borrowers who are falling seriously behind on loans backed by the Federal Housing Administration jumped by more than a third in the past year, foreshadowing a crush of foreclosures that could further buffet an agency vital to the housing market's recovery.
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