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Congress

Are All Bankers Created Equal?

by Moe Bedard

By Moe Bedard
Not all bankers are created equally. Or are they? The President of the Mortgage Bankers Association gave testimony before a congressional subcommittee today explaining what he thinks Congress should do about widespread fraud and the means to improve lending conditions in the United States.
His plan includes the following:
#1 Borrowers should immediately communicate with [...]

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How we got into this mortgage mess

by Moe Bedard

By Paul Kiesel

Over the last 15 years, there have been five “avoidable events” stemming from Wall Street’s or Congress’ actions (or inaction), that led directly to the mortgage crisis.

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A Big Week on the Foreclosure Front With Congress

by Moe Bedard

Proposals include easing bankruptcy rules, shielding banks from lawsuits and providing government assistance to homeowners facing foreclosure.

Sen. Christopher Dodd, D-Conn., chairman of the Senate Banking Committee, has proposed the creation of a federal corporation, funded with as much as $20 billion, to buy distressed mortgages and help struggling homeowners refinance into affordable loans.
The federal Office [...]

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