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The Trouble With Robo-Lending
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Amar Bhide says its time the government demanded that bankers take time to know their borrowers rather than punch in a few numbers into some models on the computer. Especially because the government is now virtually the guarantor of all the obligations of the banking system, including housing loans, and this much is owed to taxpayers. He says the 2300 page Dodd-Frank bill for financial reform sets forth a whole range of new rules, requiring a lot from regulators to write and implement the details, but does nothing to put back the old-fashioned borrower-by-borrower banking prudence that is essential for US economy.
Robo-Lending and the crisis in housing in the USA
11/13/2010
Grouped Articles
Wall Street Journal 11/13/2010
States, mortgage lenders in talks over fund for borrowers in foreclosure mess
Washington Post 11/17/2010
Court Voids Foreclosures by U.S. Bancorp and Wells Fargo
New York Times 01/07/2011
Banks Court More Woe on Foreclosures
Wall Street Journal 01/08/2011
Schneiderman Is Said to Face Pressure to Back Bank Deal
New York Times 08/21/2011
California Pulls Out of Foreclosure Talks
Wall Street Journal 09/30/2011
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