Avatar Posted by Mortgages 43 days ago (http://www.mortgagedaily.com)
Category: Mortgages
Under H.R.1424, the Emergency Economic Stabilization Act of 2008, the Troubled Asset Relief Program enables the Treasury to purchase $700 billion in illiquid mortgage assets. Throwing nearly three-quarters of a trillion dollars at this problem is very likely to yield some pretty positive results. In addition to freeing up capital for the current holders of the investments, it will also establish prices where no bidding had been occurring. Furthermore, with so much money flowing through the secondary mortgage market, new players will enter to capitalize on increasing values -- with some staying in the game permanently.
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