- Inflation and Activity – Two Explorations and Their Monetary Policy Implications, Olivier J. Blanchard, Eugenio Cerutti & Lawrence H. Summers, HKS Working Paper No. 070.
- Real Estate Value Impacts from Fracking: Industry Response and Proper Analytical Techniques, Richard Roddewig & Rebel A. Cole, Real Estate Issues 39(3), 2014, 6–20.
- How Auctions Amplify House-Price Fluctuations, Alina Arefeva.
- Marketing and Product Description: Value Added in the Real Estate Market, Sebastien Gay & Allen T. Zhang.
- Strategic Information Disclosure and Bank Lending, Sumit Agarwal, Souphala Chomsisengphet & Qi (Susie) Wang.
- S. Bank Market Structure: Evolving Nature and Implications, David G. McMillan & Fiona Jayne McMillan.
- Before a Fall: Impacts of Earthquake Regulation and Building Codes on the Commercial Building Market, Levente Timar, Arthur Grimes & Richard Fabling.
- Demand and Supply of Mortgage Credit, Alex van de Minne & Federica Teppa, De Nederlandsche Bank Working Paper No. 486.
Author Archives: Shea Cunningham
Monday’s Adjudication Roundup
- BNY Mellon files a brief on writ for cert with the Supreme Court warning the potential for “warping” the residential mortgage-backed securities market if it overturns the Second Circuit’s decision finding that provisions of the Trust Indenture Act did not apply to the securities at issue.
- Investors of Citibank file a class action in NY state court claiming that Citibank ignored toxic residential mortgage-backed securities causing $2.3 billion in losses.
- Investors sue RAIT Financial Trust and its trustees alleging that the trust knew about subsidiary pocketing fees leading to a $21.5 million SEC settlement.
Wednesday’s Academic Roundup
- Demand and Supply of Mortgage Credit, Alex van de Minne & Federica Teppa, De Nederlandsche Bank Working Paper No. 486.
- How Auctions Amplify House-Price Fluctuations, Alina Arefeva.
- Low-Income Housing Policy, Robert A. Collinson, Ingrid Gould Ellen & Jens Ludwig, Kreisman Working Papers Series in Housing Law and Policy No. 29.
- Do Increases in Subsidized Housing Reduce the Incidence of Homelessness?: Evidence from the Low-Income Housing Tax Credit, Osborne Jackson & Laura Kawano, FRB of Boston Working Paper No. 15-11.
- Housing, Poverty, and the Law, Matthew Desmond & Monica Clarice Bell, Annual Review of Law and Social Science, Vol. 11, pp. 15–35, 2015.
- Local Government Finance as Integrated System: The Uneasy Case for Using Special Districts in Real Estate Finance (A Response to Odinet’s Super-Liens to the Rescue? A Case Against Special Districts in Real Estate Finance), Darien Shanske, Washington and Lee Law Review Online, Vol. 72, No. 191, 2015.
- Household Formation Over Time: Evidence from Two Cohorts of Young Adults, Daniel Cooper & María José Luengo‐Prado, Federal Reserve Bank of Boston Research Paper Series Current Policy Perspectives Paper No. 15-4.
- Inequality, Financial Frictions, and Leveraged Bubbles, Julien Bengui & Toan Phan.
Monday’s Adjudication Roundup
- The Second Circuit did not revive $1.2 billion suit against Quicken Loans for due to a statute of limitations issue. Deutsche Bank alleged that Quicken loans breached its contract in transfer of a “shoddy” mortgage portfolio.
- JPMorgan settled mortgage delay class action with two class representatives for failure to give notice of a mortgage payoff of thousands of NYS homeowners.
- Judge does not disqualify a Federal Trade Commission attorney in suit for scheme to defraud distressed homeowners for his role in the investigation.
- The Federal Circuit found that HUD is not party to a contract “under which the company’s low-income housing subsidies were revoked.”
- The Securities and Exchange Commission claims that at least $10 million in funds from EB-5 were diverted to Chinese investors. The SEC is bringing a fraud suit against a doctor, an office manager and businesses for this alleged diversion.
Friday’s Government Reports Roundup
- According to an October 2015 Department of Labor report, 271,000 jobs were added to the US economy in the month of October and the unemployment rate decreased to 5% from 5.1% in September.
- The Consumer Financial Protection Bureau (CFPB) released its ninth edition of its “Supervisory Highlights”, reporting illegal practices that the CFPB discovered between May and August 2015, including mortgage origination and servicing and student loan servicing, among others.
- The Center on Budget and Policy Priorities (CBPP) released report “Realizing the Housing Voucher Program’s Potential to Enable Families to Move to Better Neighborhoods”.
Wednesday’s Academic Roundup
- Introduction to Special Issue: Government Involvement in Residential Mortgage Markets, W. Scott Frame, Real Estate Economics, Vol. 43, Issue 4, pp. 807–819, 2015 (Paid Access).
- How Does the Federal Reserve’s Large‐Scale Asset Purchases (LSAPs) Influence Mortgage‐Backed Securities (MBS) Yields and U.S. Mortgage Rates?, Diana Hancock & S. Wayne Passmore, Real Estate Economics, Vol. 43, Issue 4, pp. 855–890, 2015 (Paid Access).
- Property Rebels: Reclaiming Abandoned Bank-Owned Homes for Community Uses, Valerie Schneider, American University Law Review, Vol. 65, Issue 2, Forthcoming.
- Is an Apartment a Nuisance?, Michael Lewyn, 43 Real Est. L.J. 509 (2015).
- Helping the Middle-Class: How Interest Rates Affect the Distribution of Housing Wealth, Isaac Hacamo.
- Urbanization and Property Rights, Yongyang Cai, Harris Selod & Jevgenijs Steinbuks, World Bank Policy Research Working Paper No. 7486.
- Crowdfunding the City: The End of ‘Cataclysmic Money’?, David S. Bieri.
- The Role of Property Rights in the Debate on Large-Scale Land Acquisitions, Olivier De Schutter.
- Using Urban Agriculture to Grow Southern New England, Laurie J. Beyranevand, Sara C. Bronin, Marie Mercurio & Sorell E. Negro, Connecticut Planning, SNEAPA 2015.
Monday’s Adjudication Roundup
- Following SCOTUS’s March Omnicare decision, a pension fund is claiming that the Second Circuit failed to take into account said decision in failing to revive Bank of America mortgage suit. The plaintiff requests SCOTUS’s review.
- U.S. District Court judge dismisses whistleblower suit against CitiMortgage where ex-VP claimed the bank engaged in reckless lending practice and made false claims.
- NY appellate court will not revive suit against Morgan Stanley and UBS for misrepresentation of $665 million in residential mortgage-backed securities.
