Blowing the Lid Off the Mortgage Industry
From the category archives:
If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!Nouriel Roubini thinks that the new Obama banking reform plan gets it 75% right. This in a video interview on Yahoo! Finance. His one caveat is that the previous Fed under Greenspan had all the power, but didn’t care [...]
{ Comments }
The state of California is imposing a 90-day moratorium on all foreclosures as part of the new California Foreclosure Prevention Act that goes into effect tomorrow. The law requires that lenders prove they tried to modify a borrower’s loan before initiating foreclosure proceedings.
From the San Jose Mercury News:
The law is expected to make lenders try [...]
{ Comments }
I remember going through a phase where I wanted to learn how to do card tricks to impress my friends and members of the fairer sex. I read several books on the subject and the number one thing to learn is to get the observer’s eyes off the deck of cards. Create a distraction. In [...]
{ Comments }
California has 50 days until the government melts down under the pressure of the $24.3 billion budget gap. That according to the state’s controller, John Chiang. And the problem isn’t getting any better. State revenues were off nearly 18% in May the state was off an additional billion dollars from the current budget. [...]
{ Comments }
The majority of Texans surveyed voluntarily blame the federal government for causing the current economic crisis.
Results from a survey of 800 Texas registered voters released by the Texas Credit Union League (TCUL), Texans point the finger at some aspect of the federal government more than they do at private business or individuals. The largest percentage, [...]
{ Comments }
California foreclosure consultants and loan modification companies must post a $100,000 bond and register with the state to legally operate, effective July 1, 2009. This according to a news release by California Attorney General Jerry Brown.
The move is aimed at bringing some transparency and accountability to a cottage industry filled with scam artists and [...]
{ Comments }
“What is good for General Motors is good for America” Charlie Wilson, CEO of GM, 1955.
Maybe the country will follow GM in to bankruptcy as well…
The storied American car maker, which by some estimates employs one out of every ten Americans will head to bankruptcy tomorrow morning. It will be restructured by an Obama [...]
{ Comments }
The housing crisis has caused a re-evaluation of the current system on a number of fronts, from how mortgages are serviced to lending to the government’s role in financial markets. One area in particular that’s come under intense scrutiny of late is financial regulation, and Uncle Sam has launched a number of efforts to overhaul [...]
{ Comments }
While there’s plenty of finger pointing to go around as to who’s to blame for the current recession and widening crisis, most would agree that predatory lending practices played a role in the damaging of financial markets. As a result, we’ve quietly awaited steps that will lead to tighter restrictions on lenders and how they’ll [...]
{ Comments }
“Fair housing advocates have been warning the federal government for a decade, to no avail, about the damage that abusive lending would bring,” said Shanna L. Smith, President and CEO of the National Fair Housing Alliance (NFHA). “For too long, HUD and the Justice Department have stood by while people and neighborhoods of color have [...]
{ Comments }
