Monthly Archives: May 2013
Two (or Three) Cheers for DeMarco’s Swan Song
May 21, 2013
by David Reiss
FHFA acting Director Edward Demarco gave a thoughtful speech, Housing Finance, Systemic Risk, and Returning Private Capital to the Mortgage Market, on the future of federal housing finance policy. Given that the Administration has nominated Mel Watt as his permanent replacement, … Continue reading
Read MoreFinancial Education on a Wing and Prayer?
May 20, 2013
by David Reiss
The CFPB released its report, Feedback from the Financial Education Field, which summarizes responses to an Request for Information on Effective Financial Education. The CFPB is required by Dodd-Frank to establish an Office of Financial Education “to educate American consumers … Continue reading
Read MoreReiss on the State of the Empire REIT
May 17, 2013
by David Reiss
I was quoted by Bloomberg News in Empire State Building IPO Has Almost All Votes Needed. The story opens, A plan to form a real estate investment trust holding New York’s Empire State Building has almost all of the votes … Continue reading
Read MoreReiss on Threats to Housing
May 16, 2013
by David Reiss
CBS News interviewed me (and gave a shout out to REFinblog.com) about The 5 Biggest Threats to the Housing Recovery. It reads in part: 3. The government’s role in the mortgage market will change The U.S. government currently backs about … Continue reading
Read MoreLender Agrees to Permanent Injunction of Non-Judicial Foreclosure in Colorado
May 15, 2013
by David Reiss
A pro se plaintiff has won at least a procedural victory against her lender in Brumfiel v. U.S. Bank et al. (May 14, 2013) (12-cv-02716-WJM-MEH). US Bank filed a Notice of Withdrawal of the foreclosure action and then a Motion … Continue reading
Read MoreReform for Whom?
May 14, 2013
by David Reiss
David Stevens, the head of the Mortgage Bankers Association, gave an important and revealing speech about the direction of housing finance reform. It contains some good ideas, but also raises an alarm. Because the Administration and Congress are at an … Continue reading
Read MoreUnderwater Domain
May 13, 2013
by David Reiss
The securitization industry is still fighting tooth and nail against the proposal to use the power of eminent domain to acquire underwater mortgages from private-label mortgage-backed security trusts. Four California towns are considering working with Mortgage Resolution Partners LLP to … Continue reading
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