The Washington Independent

Posts Tagged housing crisis

GOP economic plan: ‘Foreclose, baby, foreclose,’ then ‘drill, baby, drill’

By | 10.24.11 | 3:43 pm | More from The Colorado Independent

One of the themes that emerged from last week’s Republican presidential debate in Nevada – the foreclosure capital of the United States – is that GOP candidates largely don’t think the federal government should do much to fix the ongoing housing crisis.

Obama wants FDIC Board leadership position to go to Federal Reserve heavyweight

By | 10.21.11 | 11:29 am | More from The Iowa Independent

The White House announced Friday that it will nominate Thomas M. Hoenig, a native of Fort Madison, to the position of vice-chairman of the board of directors for the Federal Deposit Insurance Corporation.


Tom Hoenig

Hoenig, the son of a local plumber and a graduate of St. Benedict’s More…

Federal Housing Finance Agency sues 17 banks over toxic mortgage securities scandal

By | 09.06.11 | 10:47 am | More from The Michigan Messenger

The Federal Housing Finance Agency filed suit Friday against 17 national and international banking giants for their roles in the toxic mortgage securities scandal that led to the current housing crisis.

Low Immigration and the Housing Crisis

By | 10.13.10 | 1:09 pm

Another note on immigration and the economy: Fortune reported yesterday that low immigration levels are partly to blame for the high number of homes sitting vacant. As fewer immigrants move to the United States, fewer are buying and renting homes here, according to an More…

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Ohio, Hit Hard by Foreclosure, Now at Epicenter of Fraud Crisis

By | 10.11.10 | 6:00 am

James Jones has spent the past five years trying to prevent foreclosures in Cleveland. Recently, his work as director of foreclosure prevention at the East Side Organizing Project, a community organizing group dedicated to improving neighborhood life in the city, has focused on targeting predatory lenders and trying to prevent More…

Conyers, Kaptur Bash Fannie for Penalizing Strategic Defaulters

By | 08.13.10 | 5:12 pm

This week, Reps. John Conyers (D-Mich.) and Marcy Kaptur (D-Ohio) sent a letter to Treasury Secretary Timothy Geithner and Edward DeMarco, the head of the Federal Housing Finance Agency, asking them to justify Fannie Mae’s policy of penalizing or suing strategic defaulters — those who can pay their More…

Another Month, Another Lackluster HAMP Scorecard

By | 07.20.10 | 1:25 pm

Today, the Department of Housing and Urban Development released a new monthly scorecard on the Home Affordable Modification Program, or HAMP — the Obama administration’s signature effort to keep underwater and distressed homeowners in their homes.

The report is, well, not great. And the accompanying press release is More…

Existing Home Sales Drop Unexpectedly

By | 06.22.10 | 11:45 am

Another sign of weakness in the housing market: This morning, the National Association of Realtors said that sales of existing homes declined 2.2 percent from April to May. NAR revised its estimate of April sales — bolstered by the end of the Obama administration’s homebuyer tax credits — up More…

House Republicans Target Strategic Defaulters

By | 06.10.10 | 5:45 pm

HuffPo’s Ryan Grim reports that House Republicans have introduced a motion to penalize strategic defaulters — underwater homeowners who simply stop paying their mortgages — by barring them from obtaining Federal Housing Administration-backed loans in the future. Grim explains the Republican maneuver:

The GOP offered its provision as


Home Prices Declined in February

By | 04.27.10 | 10:09 am

This morning, Standard & Poor’s released its S&P/Case Shiller housing index data for February. It is not pretty. The composite index declined for the fifth straight month. Of the 20 cities Case Shiller follows, only Los Angeles, San Diego, San Francisco, Washington, Las Vegas and New York registered gains More…