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Tag: Mortgages

Could a New Equity Empire Spark the Next Housing Crisis?

Laura Gottesdiener talks with “Democracy Now!” about her TomDispatch article on the team-up of big banks and private equity firms to bundle rental property mortgages into a new financial product called “rental-backed securities.”

Posted on Apr 10, 2014 READ MORE



The Public-Private Profiteers

In the cases of healthcare and underwater mortgages, the administration shied away from direct government aid. Instead, it subsidized private companies to serve the people. To get your government-subsidized mortgage modification, you applied at your bank; to get your government-mandated health coverage, you buy private insurance.

Posted on Feb 6, 2014 READ MORE



Damian Gadal (CC BY 2.0)

JPMorgan Chase on Verge of $13 Billion Deal on Bad Mortgages

The U.S. Justice Department and the mega-bank have struck a tentative $13 billion deal to settle investigations into bad mortgage loans JPMorgan sold to investors in the lead-up to the financial crisis, a person close to the talks said Saturday.

Posted on Oct 20, 2013 READ MORE



brianna.george (CC BY-SA 2.0)

A Repo Implosion

Obama is determined to prevail in his battle with GOP leaders over the debt ceiling, but not for the reasons stated in the media.

Posted on Oct 13, 2013 READ MORE



George W. Bush Hospitalized, Government Sues Bank of America, and More

A look at the day’s political happenings, including the first charges filed in the deadly Benghazi terrorist attacks and a look at the donations of The Washington Post’s new owner.

Posted on Aug 6, 2013 READ MORE


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Posted on Jun 3, 2013 READ MORE



Flickr/respres (CC-BY)

Why Freddie Mac Resisted Refis

Freddie Mac, the taxpayer-owned mortgage giant, made it harder for millions of Americans to refinance their high-interest-rate mortgages for fear it would cut into company profits, present and former Freddie Mac officials disclosed in recent interviews.

Posted on Oct 26, 2012 READ MORE



woodleywonderworks (CC-BY)

Halfway Through the Lost Decade

Does anyone care that the economy is floundering and that we are not getting out of this crisis anytime soon?

Posted on Apr 25, 2012 READ MORE



AP / Saul Loeb

Obama’s Faux Populism Sounds Like Bill Clinton

I get angry because betrayal by the “good guys” for whom I have ended up voting has become the norm.

Posted on Jan 26, 2012 READ MORE


‘60 Minutes’ Shames Justice Dept. Over Wall Street

“60 Minutes” got tired of waiting for the Justice Department to prosecute the big banks that caused the financial crisis, so Steve Kroft and his producers went out and built their own cases.

Posted on Dec 4, 2011 READ MORE



Flickr / Protest Photos1

N.Y. Attorney General Wants Answers From Big Banks

Homing in on mortgage-backed securities, New York Attorney General Eric Schneiderman has requested records from Bank of America, Morgan Stanley and Goldman Sachs as part of a broad investigation into the causes of the financial meltdown of 2008. (more)

Posted on May 17, 2011 READ MORE



How the Democrats Killed Roosevelt’s Dream of the Affordable Home

The following excerpt from Robert Scheer’s book “The Great American Stickup” details the perversion of Fannie Mae and Freddie Mac.

Posted on Feb 18, 2011 READ MORE


Bad Guys of the Foreclosure Crisis

The crisis over faulty or fraudulent paperwork in mortgage foreclosures—which is either a big deal or a humongous deal, depending on which experts you believe—is the fault of arrogant, greedy lenders who played fast and loose with the basic property rights of homeowners.

Posted on Oct 22, 2010 READ MORE


When Banks Are the Robbers

The big banks that caused the collapse of the global finance market, and received tens of billions of dollars in taxpayer-funded bailouts, have likely been engaging in wholesale fraud against homeowners and the courts.

Posted on Oct 19, 2010 READ MORE


Left, Right & Center

‘Left, Right & Center’: More Mortgage and Midterm Messes

Mortgages take center stage yet again on “Left, Right & Center” as the gang discusses Ben Bernanke and the possibility of Fed intervention. Also the final arguments around the midterm elections: Have Democrats made the case, and are Republicans being forced into positions even they don’t want to hold?

Posted on Oct 15, 2010 READ MORE


Daring to Utter the T Word

The most significant moment of Obama’s news conference concerned taxes: his defense of proposed limits on the benefits that the well-off get for their charitable contributions and mortgage payments.

Posted on Mar 26, 2009 READ MORE


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Posted on Feb 15, 2009 READ MORE


Foreclosure
Flickr / respres

Fed Takes a Swing at Foreclosures

After pumping hundreds of billions into the banking system with not much to show for it, Fed chief Ben Bernanke says he will try to reduce the number of foreclosures. As he put it to Rep. Barney Frank: “The goal of the policy is to avoid preventable foreclosures on residential mortgage assets that are held, owned or controlled by a Federal Reserve Bank.”

Posted on Jan 27, 2009 READ MORE



Flickr / zoliblog

10 Troubled Banks

While depositors at IndyMac banks in California do battle for a chance to get their cash out, financial analysts have been crunching the numbers to identify other troubled lenders. ABC News snuck a peek to come up with this handy guide to banks with an unfortunate “Texas ratio.”

Posted on Jul 16, 2008 READ MORE


Home Foreclosures on the Rise

As interest rates continue to spiral out of control for many high-risk borrowers, the number of home foreclosures around the country is steadily going up. There isn’t much good news for the opportunistic lenders either—more than 20 mortgage companies have already gone bankrupt.

Posted on Mar 5, 2007 READ MORE


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