Tag Archives: u s treasury department

U.S. Treasury Will Grade Lenders Over Mortgage Modifications

This reminds when the banks got public grades under the Clinton administration over their willingness to abide by CRA (Community Reinvestment Act). It’s a way to bend the banks to the political will. The sanctity of contracts and moral hazard … Continue reading

Posted in Banks, mortgage, Politics | Tagged , , , , , | Comments Off on U.S. Treasury Will Grade Lenders Over Mortgage Modifications

Chase Blamed For Not Modifying More Mortgages

Why are banks getting blamed for not modifying more mortgages? Why should they modify mortgages unless they believe it is in their self-interest? What about the sanctity of contracts? People signed up for certain terms. If they can’t live up … Continue reading

Posted in Banks, Foreclosure, mortgage | Tagged , , , , , | Comments Off on Chase Blamed For Not Modifying More Mortgages

Reducing Foreclosures Through Government Programs

I still have not heard any good answer to my question about how subsidizing irresponsible behavior (buying more house than you can afford) won’t lead to more irresponsible behavior? What about those who’ve played by the rules and have paid … Continue reading

Posted in Foreclosure | Tagged , , , , , | Comments Off on Reducing Foreclosures Through Government Programs