Category Archives: Helping Families Save Homes

Is Foreclosure Settlement Déjà Vu All Over Again?

Posted on February 9, 2012 by igradman

Today, the Attorneys General of 49 states (with Oklahoma being the lone holdout) announced a record $26 billion settlement with the nation’s five largest servicers over false and fraudulent foreclosure practices like robosigning.  That big number looks great on paper, … Continue reading →

Posted in allocation of loss, Attorneys General, bailout, banks, BofA, consitutionality, contract rights, costs of the crisis, Countrywide, education, foreclosure crisis, global settlement, Government bailout, Greenwich Financial Services, Helping Families Save Homes, homeowner relief, improper documentation, incentives, investigations, investors, irresponsible lending, junior liens, lenders, liabilities, loan modifications, lobbying, MBS, media coverage, moral hazard, mortgage market, predatory lending, press, private label MBS, probes, public perceptions, Regulators, RMBS, robo-signers, securitization, Servicer Safe Harbor, servicers, settlements, sophistication, subprime, Takings Clause, The Subprime Shakeout, Way Too Big to Fail, William Frey, workouts | 13 Comments

Wikipedia Loan Modification Page Offers Concise Look at History and Current Programs, Ignores Government Failures

Posted on December 3, 2009 by Isaac Gradman

I get frequent questions about loan modifications and resources for learning more about available programs. Those interested in learning more about this subject at the heart of the current financial crisis should start with the Wikipedia page entitled “Loan Modification … Continue reading →

Posted in banks, Helping Families Save Homes, HOLC, Hope For Homeowners, incentives, loan modifications, Michael Barr, reflexive tactics, securitization, Takings Clause, TARP, Wikipedia | Leave a comment

Countrywide Files Motion to Dismiss in Greenwich Financial Case

Posted on October 10, 2009 by Isaac Gradman

With Greenwich Financial v. Countrywide having been remanded to New York state Supreme Court, Countrywide has now filed a Motion to Dismiss, arguing that Greenwich Financial’s Complaint is barred by the operative securitization agreements. As discussed in several prior posts, … Continue reading →

Posted in consitutionality, Countrywide, Greenwich Financial Services, Helping Families Save Homes, HERA, loan modifications, motions to dismiss, remand, Servicer Safe Harbor, subprime, Takings Clause | Leave a comment

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

Posted on August 13, 2009 by Isaac Gradman

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

Article on William Frey, Countrywide and the Servicer Safe Harbor Published in Lombard Street E-Journal

Posted on August 3, 2009 by Isaac Gradman

I am excited to report that FinReg21, a leading website on financial services regulation, has published a feature-length article by me, entitled Why Should Servicers Get a Safe Harbor? How One Investor’s Lawsuit Forced Bank of America to Seek Shelter … Continue reading →

Posted in consitutionality, Countrywide, FinReg 21, Greenwich Financial Services, Helping Families Save Homes, legislation, litigation, loan modifications, Servicer Safe Harbor, William Frey | Leave a comment