Mortgage Refinance Plan More About Stimulus than Housing

By: David Dayen Wednesday February 1, 2012 10:45 am

The Administration will release details on its mass refi proposal today, which is a bid to increase funds in the hands of homeowners at a low cost to the government. This is a stimulus policy, which could be effective depending on the scale. But refis aren’t enough to save people’s homes, and certainly not underwater homes.

Washington Post Helps Senator Corker Spread the Big Lie on Fannie and Freddie

By: Dean Baker Friday November 25, 2011 4:00 pm

When a newspaper abandons journalistic standards in its news pages one hardly expects to find much commitment to truth on its opinion pages. Therefore it is not surprising that the Washington Post opened its pages to Tennessee Senator Bob Corker to spread the story that government support for homeownership through Fannie Mae and Freddie Mac was the cause of the housing bubble.

Obama Administration Officials Side with Bankers Against the Middle Class

By: masaccio Thursday March 17, 2011 5:36 pm

Why does the Obama administration take the side of the banks against the middle class? Look at the officials he hires and listens to: they sold out long ago, and now are nothing but jello when they face their potential employers.

FHA Commissioner David Stevens Cannot Serve Two Masters: Fire Him Immediately

By: masaccio Tuesday March 15, 2011 2:45 pm

Why doesn’t President Obama fire David Stevens and terminate his health insurance?

Administration Foreclosure Relief Programs Plagued By Broken Servicers

By: David Dayen Saturday March 12, 2011 7:00 pm

Friday, the House voted to terminate the FHA Refinance Program by a vote of 256-171. This is one of a number of upcoming votes in the House to eliminate foreclosure mitigation programs. Only one Republican, Joe Heck of Nevada, whose district features one of the worst foreclosure crises in the nation, voted to retain the program. 18 Democrats went along with termination.

Indiana Court Case: Servicer Contractually Bound to Federal Servicing Guidelines

By: David Dayen Friday December 31, 2010 8:15 am

Even though the Treasury Department isn’t sanctioning servicers for their failure to comply with HAMP guidelines, it looks like in some cases, the courts could. In a case in the Indiana Court of Appeals, a foreclosure case was reversed for essentially one reason — failing to follow FHA guidelines when proceeding to foreclosure, guidelines which aren’t substantially different from HAMP guidelines.

Donovan on Foreclosure Fraud: “The Federal Government Is Moving Comprehensively and Quickly” – Really?

By: emptywheel Friday October 22, 2010 8:55 am

Well over a million homes have been foreclosed on since the government began its review of the foreclosure process. At some point in that time, the government determined that certain servicers were not complying with federal rules about modifications.

So why are we just hearing about it now after those million families have lost their homes?

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