September 3, 2013
Fannie and Freddie’s Unreported Billions of Losses
The Federal Housing Finance Agency’s Inspector General has warned FHFA Acting Director DeMarco that the FHFA has allowed Fannie and Freddie to defer acknowledgment of billions of dollars of losses relating to seriously delinquent singe-family residential mortgage loans for far … Continue reading
September 3, 2013 in Regulation | Permalink | No Comments
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
