FHA to Tighten Lending Standards as Defaults Rise

On the heels of our report detailing short-sale flipping and other kinds of mortgage fraud that are on the rise, the Federal Housing Administration plans to announce it will tighten lending standards to try to stem rising defaults.

The Washington Post reports Housing and Urban Development Secretary Shaun More…

The Criminal Roots of the Financial Crisis

One of the many unanswered questions about the current financial crisis is why there haven’t been more criminal investigations into what happened, including the highly suspect actions of the rating agencies, the banks, and mortgage brokers. At Salon, economist Simon Johnson and author and former investment banker More…