$25B Foreclosure Settlement Lays Groundwork to “Fix a Broken System”
U.S. Attorney General Eric Holder has unveiled the long-awaited $25 billion agreement with the nation’s five largest mortgage servicers—the result of a 14-month investigation by all 50 state attorneys general […]
AGs Inch Closer to Foreclosure Deal
A $26 billion robosigning settlement between states and the nation's largest banks could be announced as early as Thursday, according to several news sources, potentially providing relief to homeowners affected […]
Sh*t NY Slumlords Say
The folks at the SurRealEstate blog (the organizing and policy department of the Urban Homesteading Assistance Board) poked some fun at slumlords using the Sh*t My ____ Says” meme:
New York AG Sues Banks Over MERS
New York Attorney General Eric Schneiderman has sued Bank of America, Wells Fargo, and JPMorgan Chase over the banks' use of the mortgage database MERS, resulting in widespread “deceptive and […]
White House Announces Refi Aid
President Obama announced today a move that could allow millions of homeowners—including underwater homeowners— a chance to refinance their mortgages into lower-interest federally insured loans, saving an average borrower in […]
HAMP Modification to Include Principal Writedowns
The Home Affordable Modification Program will make further attempts to extend relief to struggling homeowners, the administration announced last week, by tripling the incentive for banks to conduct principal writedowns […]
Gallup: U.S. Wants Government to Help Fix the Housing Market
Even though some in the House chamber winced at the president's mention of a mortgage investigative unit during the State of the Union, a new poll released today shows that […]
Mortgage Task Force Moves Quickly as AG Settlement Resurfaces
Eleven financial institutions have been subpoenaed by a new mortgage investigative unit assembled to examine fraud related to mortgage originations and securitizations. The unit was mentioned as part of President […]
Schneiderman’s Role in Financial Crimes Unit Is Welcome News
A settlement between attorneys general, federal officials, and the nation's five largest mortgage lenders is reportedly anything but final following push back from advocacy groups and some of those attorneys […]
Too Many Bargains With Pending Foreclosure Settlement, Advocates Worry
Housing advocates and many legislators are voicing their concern with an anticipated $25 billion settlement stemming from an investigation by state attorneys general looking into deceptive lending practices. The scope […]
Interview with Shelley Poticha, Director of Office of Sustainable Housing and Communities
Shelterforce speaks with Shelley Poticha, director of HUD’s Office of Sustainable Housing and Communities, about implementing sustainable policy at the federal level while encouraging local innovation, keeping down the cost of green housing, and effecting change while dealing with federal government bureaucracy.
A First Look at Real CFPB Authority
Now that the Consumer Financial Protection Bureau is properly equipped with Richard Cordray as its director, news that it will monitor nonbank entities (independent lenders, brokers, servicers) in the same […]