lending industry
The Lack of Consequences for Banks That Fail to Modify Loans
Because servicers in the lending industry can make more money collecting delinquency fees on mortgages than by modifying loans, guess which road they are taking? The New York Times says today that the longer borrowers remain behind on their payments, the more money servicers collect, even after the home goes into foreclosure. That obviously gives [...]
It’s Time to Put Up or Shut Up for People Who Blame the CRA for the Housing Crisis
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 debate challenge, with a prize of [...]
Mortgage Workouts Not Solution
Part 1: Programs like Bush-initiated Hope Now allow government and lending industry to show they are doing something while not doing much
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