Politics, Government & Business in California's Inland Empire
By Jim Puzzanghera
January 10, 2015
The Federal Reserve said Friday it made a record $98.7 billion in profits last year, mostly from interest on the more than $4 trillion in bonds it has purchased since 2008 to stimulate the economy.
By Alejandro Lazo
August 8, 2013, 7:41 p.m.
The nation’s top housing finance regulator threatened to choke off mortgage lending in cities that use eminent domain to seize underwater loans from lenders.
Published: 22 August 2012 – 01:01 PM
Real estate professionals are accusing the Federal Housing Finance Administration and Fannie Mae of moving in a “secretive” way to test a bulk-buying house program in the Inland Empire that will squeeze out consumers, shutter viable businesses and harm an already-fragile housing market recovery.
To read story by Debra Gruszecki in the Press-Enterprise, click here.
Andrew Edwards, Staff Writer
Posted: 08/08/2012 12:52:54 PM PDT
The federal agency tasked with regulating the nation’s government-backed mortgage firms said it may oppose local agencies’ efforts to use eminent domain to take over underwater mortgages.
The controversial plan is being considered for use in San Bernardino County, where an estimated 150,000 homeowners owe more on their mortgages than their homes are worth.
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