- House Price Impacts of Racial, Income, Education and Age Neighborhood Segregation, David M. Brasington, Diane Hite & Andres Jauregui, Journal of Regional Science, Vol. 55, Issue 3, pp. 442-467, 2015.
- Housing Price Collapse Worsens the Opportunities for Educational Attainment for the Young in Cities Nationwide, I-Ling Shen & James R. Barth, June 8, 2015.
- Pixelating Administrative Common Law in Mortgage Bankers, Kathryn E. Kovacs, 125 Yale L.J. F. 31 (2015).
Tag Archives: mortgages
Wednesday’s Academic Roundup
- Rights at Risk in Privatized Public Housing, by Jaime Lee, Tulsa Law Review, Vol. 50, 2015, pp. 759-801.
- Making Firms Liable for Consumers’ Mistaken Beliefs: Theoretical Model and Empirical Applications to the U.S. Mortgage and Credit Card Markets, by Alexei Alexandrov, Consumer Financial Protection Bureau, Apr. 27, 2015.
- Discrimination at the Margins: The Intersectionality of Homelessness & Other Marginalized Groups, by Kaya Lurie, Breanne Schuster, & Sara Rankin, Seattle University School of Law, May 6, 2015.
- Supply Restrictions, Subprime Lending and Regional US House Prices, by André K. Anundsen & Christian Heebøll, Norges Bank Working Paper 18, 2014.
- Global Liquidity, House Prices and the Macroeconomy: Evidence from Advanced and Emerging Economies, by Ambrogio Cesa-Bianchi, Luis Felipe Céspedes, & Alessandro Rebucci, IDB Working Paper No. IDB-WP-576.
Monday’s Adjudication Roundup
- The United States Supreme Court holds that debtors do not have an absolute right to appeal a denial of a proposed bankruptcy plan (mentioned in April 6 post).
- Maryland federal judge approves settlement between CFPB and Genuine Title and participants for illegal mortgage-kickback scheme (mentioned in May 4 post).
- CFPB settles with Florida law firm for nearly $12 million for collecting over $5 million in illegal fees. The firm enlisted homeowners to bring “mass-joinder” suits against mortgage lenders.
- Lead plaintiff in class action against Bank of America asks the Third Circuit to rehear case alleging violations of Fair Debt Collection Practices Act decided last month. The Third Circuit held that the FDCPA covers foreclosure complaints (mentioned in April 13 post).
- The Clearing House Association LLC, the American Bankers Association, the Financial Services Roundtable and the U.S. Chamber of Commerce support Bank of America in its Second Circuit appeal of $1.3 billion fine for allegedly defrauding Fannie Mae and Freddie Mac through its mortgage program, “Hustle.”
- In stipulation, Massachusetts Federal District Court voluntarily dismisses claims against JPMorgan Chase & Co. and other institutions in $5.9 billion MBS suit brought by Bank of Boston.
Wednesday’s Academic Roundup
- Beyond Disparate Impact: How the Fair Housing Movement Can Move On, by Rigel Christine Oliveri, Washburn Law Journal, Forthcoming,
- Crowding Out Effects of Refinancing on New Purchase Mortgages, by Steven A. Sharpe & Shane M. Sherlund, FEDS Working Paper No. 2015-017.
- Have Distressed Neighborhoods Recovered? Evidence from the Neighborhood Stabilization Program, by Jenny Schuetz, Jonathan S. Spader & Alvaro Cortes, FEDS Working Paper No. 2015-016.
- A Standing Question: Mortgages, Assignment, and Foreclosure, by Eric A. Zacks & Dustin A. Zacks, Journal of Corporation Law, Vol. 40, 2015, Forthcoming.
- Socioeconomic and Racial Disparities in the Financing Returns to Homeownership, by Tom Mayock & Rachel Spritzer.
- REIT Spinoffs: Passive REITs, Active Businesses, by Richard Nugent, Tax Notes, pg. 1513 & 1635, March 23 & 30, 2015.
- Asset-Level Risk and Return in Real Estate Investments, by Jacob S. Sagi, April 19, 2015.
Monday’s Adjudication Roundup
- Quicken Loans Inc. filed a complaint against the Justice Department and the U.S. Department of Housing and Urban Development claiming that they tried to get Quicken to make false admissions during a settlement. The Government in turn sued Quicken under the False Claims Act for improper underwriting of mortgages and benefitting under the Federal Housing Administration insurance payouts.
- The United States Supreme Court denied cert to the U.S. Department of Housing and Urban Development, which argued that using contracts rather than grants to fund Section 8 public housing projects would impair the program.
- The Second Circuit Court of Appeals revived suit against Citigroup. The claims, which alleged that Citigroup tricked a Korean bank into taking $25 million in toxic collateralized debt obligations, were dismissed in the New York District Court in March 2013.
- Federal court requires RBS Securities to hand over which specific loans it is going to re-underwrite to National Credit Union Administration after allegedly causing the failure of at least two credit unions by misleading investors over hundreds of millions of dollars in mortgage-backed securities.
- Bank of America asks Second Circuit to vacate a $1.3 billion fine after jury found BofA had defrauded Fannie Mae and Freddie Mac using its “High-Speed Swim Lane” program.
Wednesday’s Academic Roundup
- Amidst the Walking Dead: Judicial and Nonjudicial Approaches for Eradicating Zombie Mortgages, by Andrea Clark, Emory Law Journal, Vol. 65, No. 3, Forthcoming.
- The Paradox of Judicial Foreclosure: Collateral Value Uncertainty and Mortgage Rates, by David Harrison & Michael Seiler, Journal of Real Estate Finance and Economics, Vol. 50, No. 3, 2015.
- Debt, Default and Crises: A Historical Perspective, by Antonie Kotze, Financial Chaos Theory; Department of Finance and Investment Management.
- Demographic and Financial Determinants of Housing Choice in Retirement and the Rise of Senior Living, by Calvin Schnure & Shruthi Venkatesh, March 31, 2015.
- The Impact of State Foreclosure and Bankruptcy Laws on Higher-Risk Lending: Evidence from FHA and Subprime Mortgage Originations, by Qianqian Cao & Shimeng Liu, February 19, 2015.
- Zoning and Land Use Planning: How Real is Gentrification, by Michael Lewyn, 43 Real Est. L.J. 344 (Winter 2014).
- Maximizing Inclusionary Zoning’s Contributions to Both Affordable Housing and Residential Integration, by Tim Iglesias, Washburn Law Journal, Vol. 54, No. 4, 2015.
Monday’s Adjudication Roundup
- Bankrupt Washington Mutual settles in class action suit for $10 million after duping plaintiffs into taking out mortgages with low “teaser rates.”
- Goldman Sachs asks NY Federal Judge not to certify class action suit over its Abacus collateralized debt obligation, which caused $1 billion in investor losses.
- The Third Circuit Court of Appeals has ruled that the Fair Debt Collection Practices Act (FDCPA) covers foreclosure complaints in suit brought by Bank of America and a NJ law firm.
- First Horizon National Corp.’s subsidiary First Tennessee Bank settles with FDIC over violation of due-diligence regulations for Federal Housing Administration-insured home loans for $212.5 million.
- HSBC and Assurant settle for $1.8 billion over allegations that the bank got kickbacks for getting consumers to purchase inflated flood insurance.
