201701.11
0

Lack of Regulation of ‘Shadow Banking System’ Caused Housing Crisis

The continued narrative that the housing crisis was due to government programs that helped poor people is doubtful explains  researcher at the Sloan School of Management at MIT Antoinette Scholar. She says it isn’t what happened: “A lot of the narrative of the financial crisis has been that this [loan] origination process was broken, and therefore a lot…

201601.24
0

Debt Collectors Beware: Judge’s Ruling Could Change the Game

Debt Collectors Beware: Judge’s Ruling Could Change the Game By DAVID PORTER, ASSOCIATED PRESS HAWTHORNE, N.J. — Jan 24, 2016, 11:11 AM ET Ever had a debt collector on your back for money you knew you didn’t owe? Listen to the story of Steven Psaros and take heart. The Great Recession forced Psaros into foreclosure…

201511.14
0

$5M Jury Award for One Foreclosure Fraud Makes U.S. Punishment Look Trivial

$5M Jury Award for One Foreclosure Fraud Makes U.S. Punishment Look Trivial Article by David Dayen in theintercept.com 11/13/15 tells of  a couple’s foreclosure fight and award of $5 million in damages. Article suggests that the Department of Justice let big banks escape from paying $32 trillion and settle for less that a tenth of a…

201511.06
0

Making a Federal Case of It: NJ Couple Fight Foreclosure in Federal Court

Making a Federal Case of It: NJ Couple Fight Foreclosure in Federal Court Click here for a free download from Denbeaux and Denbeaux to learn more on how federal laws help homeowners. Jerome and Sandra Barnes’ house in Paterson Fed up with the slow pace – and what many people see as unjust actions — of foreclosures,…

201509.21
0

Why Subprime Borrowers Didn’t Cause the Foreclosure Crisis

Wharton study details why the foreclosure crisis caused by the US housing market bust may have been “more of a prime, rather than a subprime, borrower issue.” Published on 6/5/15 by Fernando Ferreira and Joseph Gyourk of the The Wharton School, University of Pennsylvania and NBER A New Look At The U.S. Foreclosure Crisis: Panel Data Evidence Of Prime…

201506.05
0

Congressional efforts to thwart Consumer Finance Protection Bureau and must be stopped

Congressional efforts to thwart CFPB and must be stopped by Adam Deutsch As published in the The Hill. http://thehill.com/blogs/congress-blog/civil-rights/243915-congressional-efforts-to-thwart-cfpb-and-must-be-stopped Need a sign that the Consumer Financial Protection Bureau (“CFPB”) is quickly becoming the most effective regulatory arm of the Federal Government?  Look no further than the absolute panic being shown by the home loan industry…

201504.24
0

Quicken Loans Sues the Department of Justice and HUD, but Make No Mistake, it is Not a Victim

by Adam Deutsch Esq. Privately owned Detroit Michigan based mortgage origination company Quicken Loans used to love doing business with the Federal Government.  Now it seems, the love affair has cooled off.  On Friday April 17, 2015, Quicken filed a pre-emptive lawsuit against the U.S. Department of Housing and Urban Development and the Justice Department. …