cramdowns | firsttuesday Journal

More justification for cramdowns

by Jeffery Marino | Dec 3, 2013 | Real Estate | 0

According to credit rating agency, Standard & Poors, cramdowns are cool.

Getting tough with big banks (and missing the point)

by Matthew Taylor | Oct 1, 2013 | Real Estate | 1

Tighter banking regulations won’t help the struggling American consumer.

Automatic loan modifications begin. Will mods nibble at negative equity’s heel?

by Matthew Taylor | Jul 10, 2013 | Mortgages, Real Estate | 0

Yet another federal home-loan recovery program enters the stimulus mix.

Mortgage mods by eminent domain: Be an advocate this time, for a change

by ft Editorial Staff | Aug 24, 2012 | Finance, Real Estate | 3

San Bernardino homeowners may be blacklisted from future Fannie Mae and Freddie Mac (collectively...

Shiller: cramdowns are the cure

by Carrie B. Reyes | Jul 13, 2012 | Finance, Laws and Regulations, Real Estate | 8

Offering cramdowns to underwater homeowners is the solution for the struggling housing industry,...

In praise of cramdowns

by Sarah Cantino | Jun 19, 2012 | Real Estate | 0

Principal reduction (cramdowns) granted by bankruptcy courts is the only solution to underwater homeowners’ plight, a recent article from Daily Finance argued. Unlike recent endeavors to implement cramdowns through bank...

Reports suggest FHFA killed cramdowns without cause

by Sarah Cantino | May 18, 2012 | Real Estate | 2

A recent letter from Congress to the Acting Director of the Federal Housing Finance Agency (FHFA)...

BofA offers cramdowns with a twisted arm

by Sarah Cantino | May 14, 2012 | Reader Polls, Real Estate | 3

Do you think BofA’s cramdown offers are likely to extend beyond 200,000 to greater numbers of underwater California homeowners? No (70%, 52 Votes) Yes (30%, 22 Votes) Total Voters: 74 Bank of America (BofA) has begun offering...

FHFA’s oscillating resistance to cramdowns

by Sarah Cantino | Apr 24, 2012 | Finance, Real Estate | 2

“Halt foreclosures,” is the request of California’s Attorney General (AG) to Fannie Mae and...

FHFA finally gives cramdowns merit

by Carrie B. Reyes | Apr 24, 2012 | Finance, Reader Polls, Real Estate | 2

Would the FHFA allowance of principal reductions benefit the real estate market? Yes (74%, 100...

Understaffed banks say “Oops!” to foreclosures

by Mary Balash | Mar 22, 2012 | Real Estate | 5

Struggling to keep up with foreclosure complaints, JPMorgan Chase & Co., Bank of America Corp. and Citigroup have admitted to being understaffed during assessments released by the Federal Reserve (Fed). The banks were...

Shadow inventory lurks within lender balance sheets

by ft Editorial Staff | Jan 3, 2012 | Economics, Investment, Real Estate | 1

For every two homes available for sale, there is another in lender shadow inventory, according to a report by CoreLogic. Nationally in October 2011, 1.6 million residential units were shadow inventory comprising property...

Cramdowns get Fed endorsement

by Jeffery Marino | Dec 6, 2011 | Market Watch, Real Estate | 7

Would government mandated principal reductions on underwater home loans bring us out of this Lesser Depression? Yes! Housing debt is the problem. (53%, 92 Votes) No. Unemployment must be solved first. (47%, 81 Votes) Total...

So, who’s got a plan?

by Jeffery Marino | Oct 19, 2011 | Finance, Real Estate | 0

In early August 2011, the White House proposed selling the Federal Housing Finance Agency’s (FHFA) real estate owned properties (REOs) in bulk (read: cheap) to investors on the condition they rent out the properties for an...

The Fed points the finger

by Jeffery Marino | Aug 26, 2011 | Real Estate | 1

In anticipation of Ben Bernanke’s speech at the annual Federal Reserve (Fed) conference in Jackson Hole, Wyoming, Paul Krugman expressed sincere doubt that Bernanke would propose any effective strategies in monetary policy to...

The President tweets his housing mistakes

by ft Editorial Staff | Jul 15, 2011 | Finance, Real Estate | 0

The current administration’s efforts to help homeowners navigate the depressed housing market have been “not enough,” according to the President. In a recent town hall event, users from across the nation took to their Twitter...

Lenders are reducing principal?

by ft Editorial Staff | Jul 13, 2011 | Real Estate | 0

Lenders have been quietly offering unrequested loan modifications or principal reductions on adjustable rate mortgages (ARMs) to borrowers who are not in default, according to the New York Times. JP Morgan Chase (Chase) and Bank...

Government mortgage modification programs provide no remedy

by ft Editorial Staff | Apr 11, 2011 | Real Estate | 5

The Home Affordable Modification Program (HAMP) recorded 20,000 new mortgage loan modifications and 26,147 permanent modifications in February 2011. Thus national statistics are a new low for HAMP, a federal program established...

Retribution deferred: lenders prove too powerful to be prosecuted

by Jeffery Marino | Apr 1, 2011 | Real Estate | 3

Lenders are still getting away with highway robbery, according to Nobel Prize winning economist and New York Times Op/Ed columnist, Paul Krugman. Krugman eviscerates the banking industry and the wealthy class with a powerful...