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Shares of agency REITs show weakness following the NY Times report that the Obama administration...

Shares of agency REITs show weakness following the NY Times report that the Obama administration is contemplating a plan that would allow homeowners to refinance their government-backed mortgages. TWO -3.4%, NLY -3.4%, AGNC -3.1%, CYS -3.1%, ARR -2.6%.
Comments (6)
  • Tony Petroski
    , contributor
    Comments (6373) | Send Message
     
    Can't they already do this?
    25 Aug 2011, 01:15 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3529) | Send Message
     
    I need to check some details as to what Obama is giving away but the service charges on a refinancing are often a deal breaker.
    25 Aug 2011, 02:25 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    We were here 10 years ago with CRA..Community reinvestment act.....here will be ther rules again...no downpayment...or the government will give one to you...no need to have an income or a SS number..you donĀ“t need to speak English....and you can get a 110% loan because the government knows your appraisal is to low....and of course a minority is worth 10% more...Reparations or something...
    25 Aug 2011, 01:20 PM Reply Like
  • light2010
    , contributor
    Comments (79) | Send Message
     
    The recurring concern in past SA postings were understandably about how long the Fed would maintain low short term interest rates .
    This novice has now learned that government programs such as the facilitation of refinancing mortgages are also a headwind . What other probable events ,likely government regulations and political considerations might NLY's value and high dividend have to face ?
    5 Sep 2011, 01:00 AM Reply Like
  • TomF75
    , contributor
    Comments (476) | Send Message
     
    Light,

     

    Glad to see you've become a quick learner. It surely did not take a Rocket Scientist to see that propping up the housing markets with the tax credit gimmicks like they did in 2009 was going to kill future demand.

     

    Myself, and countless other posters here debated the very same issue. Yet, it is amazing our "intelligent" leaders can't seem to see the forest with all the trees in the way.

     

    Not too mention these programs only breed further resentment from those of us that are responsible (i.e. buy a house for 2.8x our annual income; don't take the pick-a-payment plan; and save up a down payment not have the government hand it to me).

     

    We'll, see how this "plan" goes. All I know is when you start F'ing with MY money (I am an NLY shareholder) I really start to take it personal.
    8 Sep 2011, 04:00 PM Reply Like
  • VABEACHNIKI
    , contributor
    Comments (2) | Send Message
     
    AMEN TOMF75.
    15 Sep 2011, 10:59 AM Reply Like
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