The US Treasury is set to announce a plan designed to stabilise the US sub-prime mortgage market. The plan is likely to include measures such as the freezing of interest rates, with banks likely to be asked to fix interest rates on some loans so as to prevent a further escalation of the problem.
Henry Paulson, US Treasury Secretary, is eager to enforce the plan – dubbed an exercise in damage limitation – sooner rather than later. Such urgency has arisen from expectations that large volumes of loans will reset over the next couple of years, with the Deutsche Bank predicting that one third of outstanding sub-prime loans face being reset in the coming years.
With the long-term effects of the sub-prime crisis becoming clear, Paulson has already attempted to agree a more systematic basis of dealing with the outstanding sub-prime mortgages with federal banking regulators and major mortgage servicers.
US Treasury to Announce Sub-Prime Mortgage Loans Plan
US Treasury to Announce Sub-Prime Mortgage Loans Plan
Thu, 06 Dec 2007
Recommended links
The Essential Personal Loans GuideNeed a Credit Report?
Debt Solutions
Online Loan Lenders
Cheap Loan Providers
Average Personal Loan Rate Now Nearly Ten Per Cent
Loan Rates Rising
| Personal loans news |
|---|
| BBA Reveals Home Loan Dip - Mon, 26 Jul 2010 |
| Government to Conduct Personal Loan Review - Thu, 22 Jul 2010 |
| Positive Home Loan Trend Continues in May - Fri, 16 Jul 2010 |
| More News |
Simplyhealth Dental Plan
Affordable cover from only £7.50 per month. Join now and get first month FREE
Amex Cash Back
Credit Card
Credit Card
Get 5% cash back on purchases with Amex
Income Protection Insurance
Get an instant quote with the award winning company
Paying Too Much?
7 out of 10 people are paying too much for their mortgage. To find out if you're one of them click here or fill out a FREE no obligation enquiry form