Monthly Archives: March 2015
The Rescue of Fannie and Freddie
March 31, 2015
by David Reiss
Federal Reserve researchers, W. Scott Frame, Andreas Fuster, Joseph Tracy and James Vickery, have posted a staff report, The Rescue of Fannie Mae and Freddie Mac. The abstract reads, We describe and evaluate the measures taken by the U.S. government to … Continue reading
Read MoreTuesday’s Regulatory and Legislative Round-Up
by Serenna McCloud
On March 26th the The House Financial Services Committee approved 11 bipartisan bills designed to help strengthen the economy and consumer choice by “relieving community banks and credit unions from some of the harmful regulatory burden imposed by Washington,” these include: … Continue reading
Read MoreAffordable Housing for which Low-Income Households?
March 30, 2015
by David Reiss
The National Low Income Housing Coalition’s latest issue of Housing Spotlight provides its annual examination of “the availability of rental housing affordable to” extremely low income “and low income renter households . . ..” (1) It finds that the gap … Continue reading
Read MoreMonday’s Adjudication Roundup
by Shea Cunningham
New Jersey Condominium Association files a complaint alleging that the U.S. Federal Emergency Management Agency (FEMA) breached its contracts by failing to pay flood insurance benefits for damage from Hurricane Sandy. The US Supreme Court justices are reviewing an Eleventh … Continue reading
Read MoreHousing out of Thin Air
March 27, 2015
by David Reiss
NYU’s Furman Center has posted a policy brief, Creating Affordable Housing out of Thin Air: The Economics of Mandatory Inclusionary Zoning in New York City. It opens, In May 2014, New York City’s new mayor released an ambitious housing agenda … Continue reading
Read MoreFriday’s Government Reports Roundup
by Shea Cunningham
CFPB releases report of KPMG audit of its operations and budget. In the report, CFPB agrees with KPMG’s findings about control deficiencies and is aiming to fix such deficiencies. FHFA releases report on progress of Fannie/Freddie Conservatorships in advancing access … Continue reading
Read MoreFIRREA Wall
March 26, 2015
by David Reiss
Courts have read the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) very broadly, giving the federal government a powerful weapon in its lawsuits against financial institutions regarding events relating to the financial crisis. Judge Swain (SDNY) has … Continue reading
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