August 30, 2013
If QRM = QM, then FICO+CLTV > DTI ?@#?!?
The long awaited Proposed Rule that addresses the definition of Qualified Residential Mortgages has finally been released, with comments due by October 30th. The Proposed Rule’s preferred definition of a QRM is the same as a Qualified Mortgage. There is … Continue reading
August 30, 2013 in Regulation | Permalink | No Comments
August 28, 2013
Rebuilding After Sandy
My Property Law Colloquium this semester will address topics relating to climate change, resiliency and sustainability with a particular focus on how those issues affect post-Sandy New York City. I co-teach this class (which is also open to graduate students … Continue reading
August 28, 2013 in Regulation | Permalink | No Comments
August 26, 2013
Don’t Abandon Hope
According to Dante, Hell’s entrance has a sign that reads, “Abandon all hope, ye who enter here.” As communities face the foreclosure crisis and see their population shrink, they need to come up with a plan to deal with this … Continue reading
August 26, 2013 in Regulation | Permalink | No Comments
August 23, 2013
Reiss on Mortgage Scams
I was quoted in a story on HSH.com, 4 Ways to Prevent Mortgage-Relief Scams, that reads Millions of American homeowners are still underwater, attempting either a refinance or a loan modification to help make their mortgages more affordable and their … Continue reading
August 23, 2013 in Regulation | Permalink | No Comments
August 22, 2013
Sloppy Servicers
I have blogged about the Alice In Wonderland-like and Dickensian situations faced by defaulting homeowners, but now the CFPB has offered a broader look at the problems that borrowers confront when facing foreclosure. The CFPB’s Supervisory Highlights Summer 2013 profiles … Continue reading
August 22, 2013 in Regulation | Permalink | No Comments
August 21, 2013
The Future of Affordable Housing in NYC
Yesterday, NYU’s Furman Center started a great series, #NYChousing: 10 Issues for NYC’s Next Mayor: Over each of the next 10 days, #NYChousing will release an issue brief that presents a housing policy question that will confront the next mayor … Continue reading
August 21, 2013 in Regulation | Permalink | No Comments
August 16, 2013
New Mortgage Rule Said to be Proposed at End of August
U.S. regulators will propose a new version of a rule requiring lenders to keep a stake in risky mortgages that they securitize in the last week of August. Currently, the draft regulation numbers 500 pages and will be written by … Continue reading
August 16, 2013 in Regulation | Permalink | No Comments
