The robo-signing settlement is the latest -- and potentially the largest -- piece in the U.S. housing policy puzzle. Even though it's partly punishment for banks' wrongdoing, it is also another answer by the government to the question of how it can help the housing market.
It's like saying rather than drowning in a lake 50 feet deep, you get to drown in a lake that is only 30 feet deep. And, people are taking victory laps? You don't believe any of that and still think what the politicians said about punishing the banks was true?
We need a solution at the scale of the problem, so that families can get back on their feet, the economy can get working, and people can reach for their American dreams again instead of watching them drown.
While the settlement is unprecedented, it's not enough to help those who have already lost their homes, but it's a step in the right direction for homeowners who have become a victim of the housing crisis and the wrongdoings of these lenders that contributed to it.
What kind of America do those who advocate debt forgiveness envision? Unless you believe that Gingrich's moon colonies will vastly increase supply in the coming years, you must believe that our collective future is rather bleak.
The banks engaged in a years' long pattern of what can only be described as fraudulent if not criminal conduct that would put anyone else in prison for years if not decades, yet banks get to buy off the cops with some money to help just a few of the victims they created.
We'll win some but we'll lose some, and some of the time we will do both at the same time. That is the story of the robo-signing settlement that has finally become a done deal after many long months of struggle over it.
Once again we're hearing that a foreclosure fraud deal is about to be announced between major banks, the U.S. government and most or all of the states. How will we know if it's a good deal for the American people?
The terms for the settlement of the robo-mortgage scandal and the states participating in the settlement are expected to be resolved soon. Unfortunat...
If the mortgage settlement turns out to be the final installment of relief for homeowners, it will be a colossal failure, both as economics and as justice.
Over the intervening three years, what did Obama do? Well, we got a stimulus package, and then a year later an absurdly complicated new law that addressed everything except the most important issues. And that's about it.
Tomorrow is the deadline for state attorneys general to sign on to a joint federal and multi-state $25 billion settlement of the robo-mortgage scandal...
It is time to deliver the first installment of relief for homeowners that have not a moment to lose.
Nevada's unfortunate status as ground zero for foreclosures may last a while.
Given the administration's feeble record on prosecutions to date, the critics are right to flag the likelihood that people like Attorney General Eric Holder and SEC enforcement chief Robert Khazumi will try to sandbag Eric Schneiderman. But they shouldn't underestimate him.