March 13, 2014
Dog Bites Man: Housing Vouchers Are Good
The Center for Budget and Policy Priorites has issued a short report, Research Shows Housing Vouchers Reduce Hardship and Provide Platform for Long-Term Gains Among Children. Many housing policy researchers favor housing voucher programs over project-specific housing subsidies, although policymakers … Continue reading
March 13, 2014 in Regulation | Permalink | No Comments
March 12, 2014
Duties to Serve in Housing Finance
Adam Levitin and Janneke Ratcliffe have posted Rethinking Duties to Serve in Housing Finance to SSRN (also on the Harvard Center for Housing Studies site here). The paper states that an important question going forward concerns the role of duties … Continue reading
March 12, 2014 in Regulation | Permalink | No Comments
March 9, 2014
Michigan District Court Dismisses Fraud and Contract Breach Claims Against Mortgage Lender
In October 2013, the United States District Court of Michigan, Eastern District in Davis v. Green Tree Servicing, LLC 2013 WL 5551055 (E.D.Mich 2013) dismissed the Plaintiff homeowner’s claims for fraud and breach of contract against the Defendant mortgage lender. In … Continue reading
March 9, 2014 in Regulation | Permalink | No Comments
March 3, 2014
Fannie and Freddie Boards: Caveat Fairholme
Fairholme Capital Management has sent stern letters to the the boards of Fannie Mae and Freddie Mac (the letters are essentially the same). Fairholme’s funds have millions of common and preferred shares in the two companies and Fairholme has taken … Continue reading
March 3, 2014 in Regulation | Permalink | No Comments
February 28, 2014
Appraisals in the Coal Mine
The Federal Housing Finance Agency Office of Inspector General released an Audit Report, FHFA’s Oversight of the Enterprises’ Use of Appraisal Data Before They Buy Single-Family Mortgages. As the IG notes, Assessing the value of collateral securing mortgage loans is … Continue reading
February 28, 2014 in Regulation | Permalink | No Comments
February 27, 2014
Reiss on Marketplace: Cash Cows to Slaughter
I was interviewed on Marketplace for its story, Fannie and Freddie: Cash Cows Avoid The Slaughter? (sound file) The text of the story reads We are making money – the tax payer, that is – on Fannie and Freddie Mac. … Continue reading
February 27, 2014 in Regulation | Permalink | No Comments
February 26, 2014
Subprime Mortgage Conundrums
Joseph Singer has posted Foreclosure and the Failures of Formality, or Subprime Mortgage Conundrums and How to Fix Them (also on SSRN). Singer writes, One of the striking features of the subprime era is that banks acted without adequate regard … Continue reading
February 26, 2014 in Regulation | Permalink | No Comments
