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Attorneys General May Be Rushing Proposal for Loan Servicers
Keywords:
The state attorneys general in the U.S. and the subprime lending and foreclosure crises and mortgage settlements.
12/08/2009
Federal regulators and the Bush and Obama administrations failed miserably to help homeowners achieve loan modifications. This with the false belief that putting homeowners out of their homes would actually speed up a recovery, considering the huge scale of foreclosures in the USA , the high unemployment and other problems hitting the economy. Feldstein's consistent arguments for homeowner relief throughout 2008 and 2009- considering the large number of homeowners under water- as the mortgage crisis unfolded, were ignored by the Bush and Obama administrations. See the comparisons to Japan's lost decade, as the lack of recovery in housing adds to problems with job losses. The lawsuits, legal action and mortgage settlements facing banks as they make their way through the mortgage mess.
Grouped Articles
A Toxic Subprime Mortgage Bond's Legacy Lives On
Wall Street Journal 09/13/2013
Wall Street Journal 12/31/2013
Fannieâs and Freddieâs Foreclosure Oversight Questioned
New York Times 10/19/2010
Banks Keep their Mortgage Litigation Reserves a Secret
New York Times 01/16/2014
The Case Against the Bernanke-Obama Financial Rescue
New York Times 05/16/2014
BP’s Cuts May Wound Portfolio Recovery
Wall Street Journal 02/04/2015
Homeowners facing foreclosure and lack of any meaningful help.
09/29/2008
Lack of any meaningful help to homeowners facing foreclosure upto the Lehman Fannie crisis, and the failure to provide any significant help to homeowners in the $700 billion Sept 2008 bailout plan targeted mostly at freeing up the credit markets.
Grouped Articles
Wall Street Journal 12/31/2013
Fannieâs and Freddieâs Foreclosure Oversight Questioned
New York Times 10/19/2010
New York Times 10/02/2008
Rescue Includes Steps to Help Borrowers Keep Homes
Wall Street Journal 09/29/2008
Card Firms' Loss Tally: Billions of Dollars in Fees
Wall Street Journal 05/22/2009
Consumers Need a Credit Watchdog
BusinessWeek 07/15/2009
State foreclosure mediation programs in the U.S. for mortgage workouts in 2010-2011
06/16/2010
Loan modification is being achieved in states that mandate foreclosure mediation with a 3rd party mediator. States doing this successfully include New York and Connecticut. Spain has mitigated the impact of its housing crisis through extensive system of mortgage workouts that are benefiting both the banks, the homeowners, and the economy. In the US the banking industry has failed to take the lead in this area and the US government has failed to take effective action. Roubini predicts large housing losses in the US in 2011.
Grouped Articles
Spain's Banks Boost Books by Refinancing Loans to Homeowners
Wall Street Journal 11/07/2013
High Default Rate Seen for Modified Mortgages
Wall Street Journal 06/16/2010
States Try to Force Mortgage Workouts
Wall Street Journal 12/31/2010
Only 1 in 4 Got Mortgage Relief
Wall Street Journal 02/28/2011
Mortgage Modification Overhaul Sought by State Attorneys General
New York Times 03/04/2011
Attorneys General May Be Rushing Proposal for Loan Servicers
New York Times 03/12/2011
U.S. Banks handling of foreclosures and mortgage securities.
10/16/2010
Grouped Articles
A Toxic Subprime Mortgage Bond's Legacy Lives On
Wall Street Journal 09/13/2013
Wall Street Journal 12/31/2013
For foreclosure processors hired by mortgage lenders, speed equaled money
Washington Post 10/16/2010
Wall Street Journal 10/16/2010
Fannieâs and Freddieâs Foreclosure Oversight Questioned
New York Times 10/19/2010
The Case Against the Bernanke-Obama Financial Rescue
New York Times 05/16/2014
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