Bernard Kerik spent his life enforcing the laws, and now the law is blasting him with both barrels.
Read More »Like 9/11 and Iraq Committees, Financial Crisis Panel Promises Tough Lessons
As the government'S Financial Crisis Inquiry Commission began its controversial, hazardous work Thursday, its chairman vowed to shed light on the recession'S causes and warned select companies not to get rid of any paperwork from the early days of the downturn.
Read More »Fed Moves to Keep Watch over Subprime Lenders
Effective immediately, the Federal Reserve will start scrutinizing a class of bank subsidiaries that includes subprime lenders, determining whether they comply with all the government agency's consumer-protection rules and investigating customer complaints.
Read More »House Passes Two FHA Reform Measures in Voice Votes
The House of Representatives passed two housing measures this week designed to assist certain borrowers of Federal Housing Administration loans, earning kudos from some of the nation's largest trade groups in the mortgage and housing industries.
Read More »Obama Outlines Sweeping Financial Reforms in Wall Street Speech
President Barack Obama said Monday that the need for intense government involvement in the financial sector was waning, but he still laid a blueprint for wide-reaching regulatory reforms.
Read More »Fannie CEO Says GSE Will Speed Up Lending
Saying the U.S. housing recovery has a long road ahead, the president of Fannie Mae indicated Wednesday that the government-sponsored mortgage giant will accelerate its funding in sales of loan-backed assets in an attempt to give lending a shot in the arm.
Read More »As Modification Numbers Lag, Frank Again Threatens Cramdowns
In yet another contentious Congressional hearing on the federal government's foreclosure-prevention programs, House Financial Services Committee Chairman Barney Frank on Wednesday reissued his threat to introduce mortgage cramdown legislation if the lending industry didn't do a better job of policing itself.
Read More »Fitch: Residential Subprimes Stabilize, While Commercial Woes Worsen
Analysts at Fitch Group offered up a mixed bag of economic indicators this week, saying that a once-risky class of residential mortgage assets was stabilizing, but rising commercial real estate defaults were threatening the economy's modest recovery.
Read More »Senator Dodd May Push Bill to Create a “Banking Czar”
Sources in Washington say Senate Banking Committee Chairman Christopher Dodd (D.-Connecticut) is mulling a bill that would radically pare down the Federal Deposit Insurance Corporation, the Federal Reserve, and other government agencies, installing a single government regulator in their place to oversee all financial institutions.
Read More »In Chicago, Booming Renters’ Market Threatens Multi-Family Mortgages
More and more, the windy city is offering would-be renters a big selection of friendly confines.
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