In December 2006, HarperCollins fired editor/publisher Judith Regan. News Corporation, the parent company that owns HarperCollins, said at the time that the firing came as a result of anti-Semitic comments Regan had made. Regan said otherwise and sued News Corp., ultimately getting an official retraction and a reported $10.75 million More…
Barry Ritholtz posts a clear summary of the foreclosure process, to help understand the massive unfolding foreclosure fraud scandal. Here is, document by document, the typical paper-trail for when a homeowner defaults and a bank repossesses her house (the process varies a bit state by state).
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Barry Ritholtz points to this chart of the Mortgage Bankers’ Association purchase index. It shows mortgage applications crashing after the expiry of the Obama administration’s homebuyers’ tax credit, falling to the same level as in May 1997, when there were approximately 40 million fewer people living in the United More…
Here’s a huge pat on the back and a show of support for Barry Ritholtz, who truly has had it with those who keep clinging to the widely discredited belief that the Community Reinvestment Act caused the housing crisis. Ritholtz writes at The Big Picture that he’s offering a More…
At The Big Picture, Barry Ritholtz spares few words regarding his view of voluntary foreclosure freezes. Ritholtz says he never thought much of the idea in the first place, and he dismisses other “gimmicks” by banks to temporarily avoid foreclosures. Now that foreclosures are on the increase, he says, More…
Mortgage lenders aren’t selling subprime loans much anymore, but apparently the credit rating agencies that certified them as safe and profitable investments are back at it, this time killing a book critical of, well, a ratings agency.
The tale comes from Barry Ritholtz at The Big Picture, who had More…
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