REFinBlog

February 2, 2015

The Secret to Financial Well-Being?

The Consumer Financial Protection Bureau has issued a report, Financial Well-Being:  The Goal of Financial Education. I have been somewhat critical of the CFPB’s approach to financial literacy education, but I think that this report sets forth a pretty reasonable … Continue reading →

Monday’s Adjudication Roundup

S&P agrees to settlement of $58 million for fraudulent ratings on commercial mortgage-backed securities. SEC order regarding violations of Section 17(a)(1) of the Securities Act, Section 15E(c)(3) of the Exchange Act, and Exchange Act Rules 17g-2(a)(2)(iii) and 17g-2(a)(6). $6.2 million … Continue reading →

January 29, 2015

Krimminger and Calabria on Conservatorships

By Michael Krimminger and Mark Calabria have shared The Conservatorships of Fannie Mae and Freddie Mac: Actions Violate HERA and Established Insolvency Principles. The paper opens, When the Federal Housing Finance Agency (“FHFA”) was appointed conservator for Fannie Mae and … Continue reading →

January 28, 2015

Who Benefits from the Low Income Housing Tax Credit?

HUD’s Office of Policy Development and Research has released a report, Understanding  Whom  the  LIHTC  Program  Serves: Tenants  in  LIHTC  Units  as  of  December  31,  2012. By way of background, The Low-Income Housing Tax Credit (LIHTC) Program provides tax credits … Continue reading →

January 23, 2015

Fannie/Freddie 2015 Scorecard

The Federal Housing Finance Agency (FHFA) released its 2015 Scorecard for Fannie Mae, Freddie Mac and Common Securitization Solutions. The scorecard identifies priorities for the two companies and their joint venture, Common Securitization Solutions (CSC). The scorecard builds on the … Continue reading →

January 22, 2015

Kroll on Mortgage Performance

The Kroll Bond Rating Agency has issued an update of its residential mortgage-backed securities model methodology, Residential Mortgage Default and Loss Model. Before the financial crisis, ratings models seemed to be very reliable, data-driven models of probity and caution. We … Continue reading →

January 16, 2015

Location, Location, Location of NYC Affordable Housing

NYU’s Furman Center has released a white paper, Housing, Neighborhoods, and Opportunity: The Location of New York City’s Subsidized Affordable Housing. The report opens, Rent burdens for low- and moderate-income renters continue to grow in New York City, inviting calls … Continue reading →