Tag Archives: mortgage practices

Settling Foreclosure Lawsuits Against The Big Banks

Banks are expected to pay out $20 billion to settle a variety of lawsuits for their sloppy paperwork processing of foreclosures. Banks have been overwhelmed by the number of foreclosures and they lose about $40,000 at least with each foreclosure. … Continue reading

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Banks Close To Settlement With Administration, State AGs Over Foreclosure Practices

The major banks are close to finishing a deal whereby they give up $20 billion and agree to change their ways in exchange for legal immunity from various lawsuits against them over foreclosure practices. Banks have always sought to settle … Continue reading

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What To Do About Fannie Mae, Freddie Mac

Republicans and Democrats are squabbling about what to do with Fannie and Freddie. Republicans want to wind them down quicker. Democrats want a big government role in the mortgage market. Fannie and Freddie don’t want to write down loan principal … Continue reading

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Are Bankers Against Full, Clear Disclosure On Mortgage Forms?

I’m a free market guy. I’m a capitalist. I am against many forms of government regulation. I’m against the minimum wage. I do, however, have sympathy for the proposed new mortgage forms. They will spell out clearly and briefly the … Continue reading

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California Likely To Join Investigation Of Wall Street’s Mortgage Practices

California is entirely governed by Democrats. I am not surprised that a Democrat state Attorney General is interested in joining New York and Delaware’s probes of the mortgage-bundling practices of Wall Street. Who can even understand tranches and the like? … Continue reading

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New York’s Attorney General Leading The Way In Bank Investigation

I am hardly surprised that a New York Democrat is leading the way in investigating banks and their role in the 2008 financial crisis. It must be irresistible to such politicians to place the blame on bankers rather than on … Continue reading

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Politicians Eager To Find Wall Street Responsible For The Housing Crash

Politicians are not as eager to investigate their own interventions into the free market, destroying what had been the most reliable investment around — mortgages. The New York Post reports: Several high-profile investigations, including one by New York State Attorney … Continue reading

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Major Mortgage Lenders May Be Forced To Reduce Mortgage Principal

What this will do to lenders desire to lend in the future is apparently of little concern to the Obama administration. I would not want to lend out money with Obama’s gang ready to step in and arbitrarily rewrite contracts. … Continue reading

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Republicans Don’t Trust The Mortgage Probe

The conventional wisdom is that the Obama administration is going to become more business-friendly as it seeks to reduce unemployment and to get the economy moving again. Well, I’m not seeing much business-friendly policy or regulation-relief coming out of 1600 … Continue reading

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Big Banks Preparing To Pay Out Billions For Their Abusive Mortgage Practices

Three big banks have warned investors they may have to pay out billions of dollars to settle inquiries by state and federal investigators into their foreclosure operations. Until now, the big banks acted as if these investigations were just a … Continue reading

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