The Home Affordable Modification Program (HAMP) has basically been a disaster since its start, and it remains one to this day. Roughly nine months ago, the Government Accountability Office examined the program, found many problems, and made several recommendations to improve it. Since then, the Treasury department has failed to make most of the needed changes.
|By: Jon Walker Wednesday March 2, 2011 7:15 pm|
|By: emptywheel Wednesday January 12, 2011 3:00 pm|
Rather than admit that property owners have the right to sue in this country, the Third Way thinks that we can best protect them by limiting their right to sue to actual damages.
|By: David Swanson Tuesday December 28, 2010 3:50 pm|
The fall and decline of an empire can take many years, but certain “benchmarks” (as imperial courts have been known to call them) can measure the progress in one year alone. Take, for example, the year 2010.
|By: David Dayen Monday November 29, 2010 6:38 am|
Here’s what I’m looking at as Congress returns for the last of the lame duck session today. . . .
|By: emptywheel Wednesday November 24, 2010 7:15 am|
How in hell could the government give those who have been harmed redress if the government is only reviewing a select subset of the loan files? Is the government going to provide everyone who believes they were screwed some legal aid to prove their claim?
|By: David Dayen Saturday November 20, 2010 11:00 am|
Of course financial lobbyists are working to indemnify financial fraud. This is a story with all the richness of “Breaking: Water Wet.”
|By: David Dayen Wednesday November 17, 2010 6:45 pm|
So here’s a major breakthrough in the foreclosure crisis and in particular the failed HAMP program. It doesn’t mean anything’s going to happen, but it means a significant chunk of the majority caucus in the Senate wants a radical overhaul of HAMP.
|By: emptywheel Wednesday November 17, 2010 6:05 am|
On Tuesday, Iowa’s Attorney General Tom Miller testified to the Senate Banking Committee it would be months before the combined AG “investigation” came up with a settlement. That’s almost exactly the moment when the Washington Post posted a story reporting the AGs were close to a settlement.
|By: emptywheel Tuesday November 16, 2010 2:21 pm|
Liveblogging of the Senate Banking Committee hearing on foreclosure fraud continues. Senator Richard Shelby was actually pretty good, but then Sens. Mike Johanns and Bob Bennett went to some length to try to pretend the banksters weren’t doing what they were doing.
|By: David Dayen Tuesday November 16, 2010 12:35 pm|
This hearing is the latest example of national policymakers getting involved in the foreclosure fraud issue. The Congressional Oversight Panel warning of the enormous risk from the failures of servicers was the first report of its kind at the federal level to take full measure of the situation, and this is the first Congressional hearing. Senators on the Democratic side like Jeff Merkley and Sherrod Brown are sure to press the bank representatives aggressively on why foreclosure mitigation programs have failed, and why they used false documents to evict people from their homes. The ranking member on the Republican side, Richard Shelby, wants to investigate failures at the major loan servicers.