Tag: subprime

There are people who believe that the foreclosure crisis occurred because too many unqualified borrowers became homeowners. What actually happened was ...

We speak with Ocwen CEO Ron Faris about why principal reduction makes business sense and some of the myths that get perpetuated about it.

Housing discrimination continues to plague the market, as does the myth that the housing crisis resulted from extending homeownership and home mortgage credit to historically underserved groups: minority families. Even with the Obama administration's Homeowner Affordability and Stability Plan and, within that, the Making Home Affordable program, minority groups continue to suffer ongoing discrimination and fair housing violations.

The current "bathtub recession" poses a drowning hazard for community development and housing groups, as philanthropic giving shrinks and foundations look beyond nonprofits for solutions to social problems.

While immediate steps are necessary to stem foreclosures, a comprehensive solution requires a broader brush.