Clik here to view.
California homeowners file class action suit against Bank of America for...
California homeowners have filed a class action lawsuit against Bank of America claiming the lending giant is intentionally withholding government funds intended to save homeowners from foreclosure,...
View ArticleClik here to view.
Value Nation: Is there a better way to select appraisers?
Yes, we as taxpayers did lose hundreds of billions of dollars recently due to the mortgage crisis. This is the second time that this has happened during my career as a mortgage professional.Click to...
View ArticleClik here to view.
NYS comptroller takes action against Bank of America and Merrill Lynch for...
New York State Comptroller Thomas P. DiNapoli, as trustee of the $132.6 billion New York State Common Retirement Fund, has filed separate lawsuits against Merrill Lynch & Company and Bank of...
View ArticleClik here to view.
Bachus: Dems drag their feet on reform of Fannie Mae and Freddie Mac
House Financial Services Committee Ranking Member Rep. Spencer Bachus has made the following statement regarding the announcement by the Obama Administration that it will convene a conference on the...
View ArticleClik here to view.
FDIC Chair Bair Comments on Dodd-Frank Act's Notice of Proposed Rulemaking
"With the enactment of the Dodd-Frank Act on July 21 of this year, the Federal Deposit Insurance Corporation (FDIC) was given the tools to resolve a failing financial company that poses a significant...
View ArticleClik here to view.
GSE Bailout Tab on the Rise
The Federal Housing Finance Agency (FHFA) has released projections of the financial performance of Fannie Mae and Freddie Mac, including potential draws under the Preferred Stock Purchase Agreements...
View ArticleClik here to view.
Bachus to Serve as Chair of the House Financial Services Committee
The House Republican Conference has confirmed the Steering Committee’s choice of Rep. Spencer Bachus (R-AL) as Chairman of the House Financial Services Committee. Rep. Bachus has been a member of the...
View ArticleClik here to view.
Don’t Let America’s Lost Decade be Your Lost Decade
I recently was able to attend the Symposium on Mortgages and the Future of Housing Finance hosted in Washington, D.C. by the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve. The...
View ArticleClik here to view.
Bank of America-GSE Settlement Concerns Rep. Maxine Waters
Rep. Maxine Waters, a senior Democrat on the House Financial Services Committee, has issued the following statement after Bank of America settled with Fannie Mae and Freddie Mac (the...
View ArticleClik here to view.
Rep. Garrett Announces Subcommittee Hearing on GSE Reform
Capital Markets Subcommittee Chairman Rep. Scott Garrett has announced that the Subcommittee will convene a hearing on reforming of the nation's government-sponsored enterprises (GSEs), Fannie Mae and...
View ArticleClik here to view.
House Introduces HR 861 to Terminate the Neighborhood Stabilization Program
The House of Representatives has approved legislation to end a bailout program for lenders and real estate speculators. The legislation, HR 861, the the NSP Termination Act, introduced by Rep. Gary...
View ArticleClik here to view.
Senate Bill Introduced to End GSE Bailout
House Financial Services Committee Chairman Rep. Spencer Bachus (R-AL) and Committee Vice Chairman Jeb Hensarling (R-TX) have joined Sens.Click to continue
View ArticleClik here to view.
FHA Next in Line for Bailout?
Some lawmakers are stating that the Federal Housing Administration (FHA) may have been lying about the size of its losses after declaring that it might need public assistance in its almost-80 year...
View ArticleClik here to view.
GSEs Inch Closer to Repaying Bailout
After sharp third-quarter profits, both Fannie Mae and Freddie Mac are close to repaying the United States taxpayers’ money for the 2008 bailout.Click to continue
View ArticleClik here to view.
The Big QuEasy: WSJ Focuses on QE
In an Andrew Huszar op-ed piece for the Wall Street Journal, the former quantitative easing (QE) manager with the Fed essentially refers to the program as a way for Wall Street to obtain a “backdoor...
View Article