September 11, 2017
Monday’s Adjudication Roundup
- Local Michigan real estate developers are unhappy about the stall in their plan to develop Detroit’s basketball arena. Not only are the duo developer organizations asking the court to dismiss the suit against them by local residents, they also requests sanctions against the residents. The developers allege the lawsuit is frivolous and has no legal or factual merit.
- The town of Newton, New Jersey is not out of the clear yet. Recently a state judge revived a suit against the town. An owner of an apartment building in the town challenged the town’s property assessment policies and rules. Upon the next hearing, the Court will render a decision regarding the timelines of the property owners challenge and the town’s compliance with New Jersey tax law.
September 11, 2017 | Permalink | No Comments
September 8, 2017
Friday’s Government Reports Roundup
- The Consumer Financial Protection Bureau (CFPB) studied an array of scenarios and determined that “reverse mortgage loan costs” are greater than any increase in Social Security benefits homeowners receive throughout their life due to a delay in the release of the aid. The report also notes that homeowner equity diminishes as the seniors grow older. In the end, these homeowners have limited options in purchasing a new home later in life and handing financial shifts.
- The Center on Budget and Policy Priorities released fact sheets to assist U.S. residents with affordable housing. To date, approximately five million Americans participate in affordable housing programs. These released fact sheets support these Americans by detailing the users and people in need of aid in each state. Further the sheets provide low income housing locations and the sources of federal funding.
September 8, 2017 | Permalink | No Comments
September 7, 2017
Thursday’s Advocacy & Think Tank Roundup
- A researcher from Harvard’s Joint Center for Housing Studies names two lessons regarding Housing after Hurricane Harvey. Lesson one is rebuilding “residential properties” is time consuming. Lesson two is owned homes will be built faster than rental properties. Jonathan Spader gleans these lessons from the aftermath of both Hurricane Katrina and Rita. One reason for the slower erection of rental homes is due to landlord choice and access. For instance, if a landlord owns a home and a rental property, he or she may rebuild their home before rebuilding another’s home.
- Wells Fargo, America’s third largest bank, is in the news yet again. A whistle blower is accusing the bank of making consumers pay higher mortgage rates. Specifically in Beverly Hills, Ca, homeowners were encouraged to pay higher rates in order to avoid a prolonged process when refinancing their homes. Allegedly, loan officers in the branch are responsible for these unfair practices.
September 7, 2017 | Permalink | No Comments
September 6, 2017
Wednesday’s Academic Roundup
- Historical Antisemitism, Ethnic Specialization, and Financial Development, D’Acunto, Prokopczuk, and Weber
- A New Framework for Achieving Free Expression and Speech in the Evolving and Reconceptualized Shopping Mall of the Twenty-First Century, Korngold
- The Effect of Green Retrofitting on US Office Properties: An Investment Perspective, Geltner, Moser, and van de Minne
- Stabilizing the System of Mortgage Finance in the United States, Koss
- The Federal Home Loan Bank System: A Bibliography, Reiss
September 6, 2017 | Permalink | No Comments
September 5, 2017
Tuesday’s Regulatory & Legislative Roundup
- The Consumer Financial Protection Bureau wants to ensure the victims of Hurricane Harvey are well supported. As the financial industry’s top enforcer, the agency recently released a statement mentioning the strain such catastrophes cause to consumers and a need to promptly assist in recovery. Seemingly, the agency’s goal is to ensure consumer’s credit and liquidity is not severely affected by the current devastations in the Texas and Louisiana communities.
- A Texas Congressman, Jeb Hensarling, chair of the House Financial Services Committee, wants to support Houston by proposing to extend the National Flood Insurance Program (NFIP) for three additional months. Other Congressmen in the committee hope approval of an extension will lead to additional reforms connected to NFIP. Jeff Emerson hopes the program will soon have the capability to borrow funds.
September 5, 2017 | Permalink | No Comments
September 4, 2017
Monday’s Adjudication Roundup
- PricwewaterhouseCoppers LLP asked an Alabama federal court to stay their 2 billion dollar preceding regarding mortgage fraud. Allegedly the financial institution intentionally “overlooked a mortgage fraud scheme.” The bank’s lack of oversight ultimately caused the bank’s demise; however, an Alabama judge believes the show must go on!
- What protections are afforded during the whistleblowing process? According to a group of businessmen, a whistleblower must alert the United States Securities and Exchange Commission before he or she can be protected from retaliation under the Dodd-Frank Act. In the group’s “friend-of-the-court” briefs to the U.S. Supreme Court, they urge the Court to consider their perspective regarding the subject matter and ask the Court to construe the intent of Congress in a narrow manner.
September 4, 2017 | Permalink | No Comments
September 1, 2017
Friday’s Government Reports Roundup
- The Consumer Financial Protection and Bureau (CFPB) gave several warnings to a California based company that purported to help individuals repair their credit. However, the CFPB alleges the company illegally charged customers while “helping” to repair their credit. Initially, various executives received a fine for their alleged acts, but presently the regulatory agency insists that Prime Marketing Holdings be permanently banned from “assisting” in repairing credit.
- The United States Housing and Urban Development halted the “implementation Small Area Fair Market Rents (SAFMR) rule.” The SAFMR rule attempts to transfer families in lower-income neighborhoods to higher-income neighborhoods so that the families can have access to better employment and better schools. As Obama departed from office, he approved the creation of SAFMR to, “help empower families by ensuring that they have the tools they need to succeed.”
September 1, 2017 | Permalink | No Comments
