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Bank Of America To Pay Huge Settlement

AP | By The Associated Press | Posted 03.27.2014 | Business

Bank of America will spend $9.33 billion to resolve a dispute over mortgage securities with the Federal Housing Finance Agency, the regulator that ove...

Ben Hallman

Housing Watchdog Slams Massive Property Inspection Industry

HuffingtonPost.com | Ben Hallman | Posted 03.25.2014 | Business

The inspectors who decide whether homes have been abandoned and are ready for foreclosure are doing such a terrible job that the whole system requires...

So Fannie and Freddie Weren't the Problem...

Harlan Green | Posted 03.21.2014 | Business
Harlan Green

We are learning just how much mortgage fraud was committed by 18 national and international banks and other financial entities that the Federal Housin...

Dems Use New Rules To Clear Way For Obama Nominee

AP | Posted 12.10.2013 | Politics

WASHINGTON (AP) — Democrats have used the Senate's newly eased filibuster procedures to clear the way for confirmation of the man President Barack O...

Shutdown Redux

George Goehl | Posted 01.23.2014 | Politics
George Goehl

As Republicans continue to block highly qualified nominees like Rep. Watt from receiving an up-or-down vote, Senator Reid must make good on his threat to change the Senate rules.

We Lost Our House, the Economy Crashed, and You Made a Fortune. How Much Do We Owe You?

Francisco Enriquez | Posted 01.23.2014 | Politics
Francisco Enriquez

The upcoming JPMorgan Chase settlement is expected to be the largest corporate settlement in Justice Department history. Unless the Justice Department prevents it, JPMorgan could heap billions of dollars right back onto the shoulders of taxpayers.

Time for Wall Street to Stop Blocking Mel Watt

Mike Lux | Posted 12.30.2013 | Politics
Mike Lux

Wall Street doesn't want a new director of FHFA. They like things the way they are, and don't want a new sheriff in town. That is why Republicans are so willing to buck history and tradition, are so willing to stop the first African-American appointee to run FHFA to be confirmed.

JPMorgan's $5 Billion Mortgage Deal Is Just The Beginning

AP | KEN SWEET and MARCY GORDON | Posted 10.26.2013 | Business

WASHINGTON -- WASHINGTON (AP) — The $5.1 billion that JPMorgan Chase has agreed to pay hardly ends its legal troubles over mortgage securities it so...

JPMorgan Reaches $5.1 Billion Mortgage Deal With FHFA

Posted 10.25.2013 | Business

JPMorgan Chase, the country's biggest bank by assets, has reached a $5.1 billion settlement with the Federal Housing Finance Agency over alleged viola...

Bank Of America Faces Huge Fine

Reuters | Posted 10.22.2013 | Business

(Reuters) - U.S. housing regulators are looking to fine Bank of America more than $6 billion for its role in misleading mortgage agencies during the h...

Struggling Chicago-area Homeowners Still Need Help, Despite Some Positive Signs

Dory Rand | Posted 10.16.2013 | Chicago
Dory Rand

It's too soon to break out the champagne. It seems unlikely that the foreclosure crisis over when more than a third of Chicago region homes are underwater and unemployment remains persistently high.

FHFA's Ed DeMarco: Kissing the Ass of the Banking Class

Peter Dreier | Posted 10.08.2013 | Politics
Peter Dreier

President Obama has already fired Ed DeMarco, acting director of the Federal Housing Finance Agency (FHFA), but before he leaves DeMarco is handing an early Christmas present to his friends in the banking industry.

My Meeting With the FHFA

Brian Penny | Posted 10.05.2013 | Business
Brian Penny

Three years ago, I would've given anything for someone in the media or government to listen to me. I figured out how the banks were fixing the system ...

Hey Congress: No Vacation Until You Stand Up for Homeowners and Confirm Rep. Mel Watt

Tracy Van Slyke | Posted 09.29.2013 | Politics
Tracy Van Slyke

While Congress takes a vacation in August, tens of millions of homeowners will spend day and night worrying about how to keep their home, pay their mortgage and continue to struggle to make ends meet.

Will Senator Kirk Stand With Illinois Consumers?

Dory Rand | Posted 09.14.2013 | Chicago
Dory Rand

Senator Kirk voted against allowing a floor vote on Cordray and signed a letter with 42 Republicans vowing to block any nominee, no matter how qualified, unless the CFPB is substantially weakened. That isn't right.

Citi Settles Massive Mortgage Lawsuit

Reuters | Posted 07.28.2013 | Business

* Federal Housing Finance Agency agrees to dismiss lawsuit * Agency will not say how much Citi will pay * Agency still i...

FHFA Offers New Simplified Loan Modification

Anna Cuevas | Posted 07.06.2013 | Business
Anna Cuevas

Making it easier for homeowners to reduce their monthly mortgage payment and keep their homes is always favorable; however, providing homeowners with an incentive to fall behind on their payments could be an unfavorable strategy for both taxpayers and homeowners.

America's Half-Forgotten Housing Crisis

David Coates | Posted 07.06.2013 | Politics
David Coates

On the housing front, the good news is that the president wants Mel Watt to head the FHFA. The really bad news is that the problems in the U.S. housing system are currently so entrenched that, even if he is confirmed, Mel Watt will be hard-pressed to resolve them.

Housing Activists Convince Obama to Dump DeMarco

Peter Dreier | Posted 07.02.2013 | Politics
Peter Dreier

The anti-DeMarco campaign is part of a broader movement to hold Wall Street banks accountable for crashing the economy, destroying the housing wealth of millions of homeowners, and refusing to help families facing foreclosure through no fault of their own.

Shahien Nasiripour

Obama Pick Gets Some Republican Support

HuffingtonPost.com | Shahien Nasiripour | Posted 05.02.2013 | Business

BOSTON -- The White House, long bedeviled by shortcomings in its housing programs, received two boosts Wednesday when its pick to lead a key housing a...

Shahien Nasiripour

Obama To Nominate Longtime Congressman For Key Job

HuffingtonPost.com | Shahien Nasiripour | Posted 05.02.2013 | Business

BOSTON -- President Barack Obama will nominate Mel Watt, a longtime Democratic congressman from North Carolina, to oversee government-controlled mortg...

Report: Famed Economist Is The Front-Runner To Replace Controversial Watchdog

Reuters | Posted 06.13.2013 | Business

By Douwe Miedema WASHINGTON, April 13 (Reuters) - Mark Zandi, a well-known economist, is a front-runner to lead the U.S. housing regul...

Ben Hallman

Shocking New Failure Allows Mortgage Abuses To Keep Happening

HuffingtonPost.com | Ben Hallman | Posted 03.21.2013 | Business

NEW YORK -- For more than five years, many homeowners who complained about mortgage industry foreclosure abuses have wondered whether anyone with a fi...

'Dump DeMarco' Housing Protestors Interrupt (and Get Evicted From) House Hearing

Tracy Van Slyke | Posted 05.20.2013 | Politics
Tracy Van Slyke

Ed DeMarco's continued ideological opposition to principal reduction -- also known as resetting mortgages to fair market value -- has made him widely known one of the biggest obstacles to our country's economic progress.

How the Federal Housing Finance Agency Blocked Planned Savings of Hundreds of Millions of Dollars

Jeryl Brunner | Posted 05.13.2013 | Politics
Jeryl Brunner

The FHFA's decision preserves unfair practices in the mortgage servicing and insurance industries. It means the new approach and lower rates will not be implemented and therefore the status quo will continue.