Mortgage servicers go to extreme lengths to skirt new regulations
They are selling or have sold nearly nonexistent insurance agencies — in some cases with no offices, no websites and only a single registered agent — in multi-million dollar deals, as new rules prohibit them from collecting commissions on insurance…
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Bond market braces for U.S. debt ceiling deadline
Known as the 'safest asset,' bond market braces for U.S. debt ceiling deadline…
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Calif. City Contemplates Eminent Domain to Save Foreclosures
Calif. City Contemplates Using Eminent Domain to Solve Their Foreclosure Crisis…
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New Mortgage Regulations Require Proof of Ability to Repay
New Mortgage Lending Regulations Require Proof of Borrower's Ability to Repay…
President Obama delivered a speech on Wall Street reform at Cooper Union in New York City Thursday. Following is the text of his remarks, as prepared for delivery and distributed by the White House.
Question: Can you explain how the U.S. government’s take over of Fannie Mae and Freddie Mac affect interest on the debt now and in coming years? Paul Solman: No. Actually, I CAN explain, but…
Fewer Americans filed claims for unemployment benefits last week and retail sales grew in May for the first time in three months, raising expectations that the recession could be abating.
Question: How did the dollar volume of U.S. mortgages get to be such a huge dollar problem? Did derivatives do that? Why are investment banks allowed to bet 34 dollars for only one they have? Paul Solman: First, a word…
Question: Banks like Wells Fargo and JP Morgan recently announced better-than-expected profits. The given reason is that they are making money on the refinancing of mortgages. Doesn’t mortgage refinancing imply lower rates of interest and repayment? How can they be…
