Category Archives: regulation

U.S. Regulators Chastise Banks on Loan Modifications; Political Tide May Be Turning on Home Loan Servicers

Servicers of home loans have thus far enjoyed preferential treatment by regulators in the shakeout from the recent financial crisis, but that may all be changing. On August 13, U.S regulators issued a joint statement to residential mortgage servicers warning … Continue reading

Posted in banks, Barney Frank (D-MA), Christopher Dodd (D-CT), conflicts of interest, Federal Reserve, Helping Families Save Homes, junior liens, loan modifications, regulation, Treasury | 5 Comments

Obama Proposes Sweeping Reforms For Financial Regulation

Just last weekend, in discussing the current financial crisis with friends, I expressed concerns that in the panic to unfreeze the credit markets and stabilize the economy, our government would continue to simply throw money at the problem, while ignoring … Continue reading

Posted in Barack Obama, Center for Responsible Lending, Federal Reserve, Government bailout, incentives, legislation, lenders, oversight, recession, regulation, TARP, Timothy Geithner, underwriting practices | Leave a comment

Focus of New Regulation Should Be On Securitization

The election of Barack Obama as the presumptive 44th President of the United States promises to usher in an era of increased regulation of the financial markets pursuant to Obama’s platform of economic reform. So far, many commentaries on the … Continue reading

Posted in accounting, Alt-A, banks, Barack Obama, broader credit crisis, causes of the crisis, lenders, mortgage market, regulation, securities, securitization, subprime | Leave a comment

Wikipedia Subprime Timeline a Comprehensive (and Opinionated) Resource

I just discovered the Wikipedia Subprime Crisis Impact Timeline that provides a great resource to those trying to understand what this crisis is and how we got here. The timeline spans 40 years from 1968 to the present, including the … Continue reading

Posted in bailout, banks, Ben Bernanke, causes of the crisis, Fannie Mae, Federal Reserve, Freddie Mac, Hank Paulson, legislation, regulation, securitization, subprime, takeover, timeline, Treasury, Wikipedia | Leave a comment

Borrowers Will Be Borrowers

Despite the increased attention directed at mortgage fraud since the collapse of the subprime market, fraud continues to be a major issue in newly-originated loans, reports the Mortgage Asset Research Institute (MARI). The study showed a 42% increase in in … Continue reading

Posted in borrower fraud, incentives, MARI, mortgage fraud, overstated income, regulation, subprime | Leave a comment