All Posts Tagged With: "federal"
Who Will Get Help Under Fed Mortgage Review Plan?
Mortgage borrowers with claims against lenders for improper foreclosures may well get some relief under a new plan proposed by several government regulators. The catch: Most distressed borrowers won’t qualify for assistance. “Remediation will be based on documented financial harm stemming from improper foreclosure practices by the servicer,” says one regulator. If a foreclosure activity [...]
2Nov2011 | Peter G. Miller | 0 comments | Continued
How To Get A Federal Government Job
In the midst of a lousy job market there’s one sector of the economy that would really like to see your resume. Uncle Sam is hiring civilian employees — and when the federal government hires it offers both good pay and great benefits. There are full and part-time jobs as well as jobs for entry-level [...]
2Jun2011 | Peter G. Miller | 0 comments | Continued
Federal Rules Make Predatory Loans Legal & Lawful
With all the yelling and screaming in Washington regarding financial reform the fact remains that predatory lending remains perfectly legal and will be perfectly legal once a financial reform package is passed. “The Wall Street reform bill in Congress represents the strongest consumer financial protections in history,” says President Obama. “You’ll be empowered with the [...]
19May2010 | Peter G. Miller | 0 comments | Continued
When Did The Mortgage Meltdown Begin?
It’s official. We now have a starting date for the mortgage meltdown. It was February 27, 2007, almost two-and-a-half years ago. It was on that date that Freddie Mac said it would no longer purchase subprime mortgages and high-risk mortgage-backed securities. Who says? The Federal Reserve Bank of St. Louis. It has come up with [...]
27Jul2009 | Peter G. Miller | 0 comments | Continued
The “Consumer” Protection Panel That Isn’t
It was with some fanfare that the Federal Reserve announced that it would create a Consumer Advisory Council to provide advice regarding issues from a public perspective. Now you might think, aha, a Consumer Advisory Council…wouldn’t that be a panel which consists largely or entirely of, er, well, consumers? You might think so, but the [...]
22Jun2009 | Peter G. Miller | 0 comments | Continued
Obama Regulatory Reform: Right Idea — Not Far Enough
The President’s new effort at regulatory reform ought to be applauded, at least for the reason that we once-again have a president who believes that regulation is a legitimate government activity. That said, the President’s 89-page regulatory reform proposal falls short because it does address two issues: Getting regulators to regulate and creating a fiduciary [...]
18Jun2009 | Peter G. Miller | 1 comment | Continued
Minority Mortgage Housing Goals — What’s The Truth?
I was at a dinner event in Washington recently and the speaker told the assembled rich and powerful that President Clinton had weakened the lending system by increasing minority financing goals to more than 50 percent. The implication was that a big part of the current mortgage meltdown is a by-product of federal efforts expand [...]
15Jun2009 | Peter G. Miller | 0 comments | Continued
Tenants Get New Rights When Homes Are Foreclosed
There are any number of reasons why foreclosures are awful and one of them concerns tenants: Until new legislation was signed by President Obama last month tenants could be evicted from a foreclosed home, regardless of whether or not they had a lease or paid their rent in full and on time. Now, however, the [...]
10Jun2009 | Peter G. Miller | 0 comments | Continued
Mortgage Fees Rise As Interest Rates Fall
You have likely notices that mortgage rates have sunk into the 5 percent range with some loans being offered for even less. Now we find out that loan rates might actually be lower except that lenders have upped their fees. The information below from the federal government shows that in March fees and charges rose [...]
30Apr2009 | Peter G. Miller | 0 comments | Continued
Can This Be? Home Prices Are up?
I wouldn’t take this as the last word, but the Federal Housing Finance Agency (FHFA) is reporting that home values nationwide rose in .7 percent from January to February. “U.S. home prices rose 0.7 percent on a seasonally-adjusted basis from January to February, according to the Federal Housing Finance Agency’s monthly House Price Index. January’s [...]
23Apr2009 | Peter G. Miller | 2 comments | Continued
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