Posts tagged as:

federal reserve

Federal Reserve & Barney Frank to meet with public

by Moe Bedard

The Federal Reserve will come to the city next month to hear from area residents who have suffered losses due to the financial crisis.
The meeting is set for 6 p.m. on Nov. 1 at St. Patrick’s Church on Main Street.

Sandy Braunstein, of the Federal Reserve’s community affairs office, will be there along with U.S. Reps. [...]

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Fed Aid or Fed Power Grab?

by Moe Bedard

By Moe Bedard
Of course we all know trillions of taxpayer dollars have been spent and will be spent on bailing out banks and major corporations. Reports on major news networks and newswires carry a number of traditional stories about the various government aid plans: (1) it’s not enough aid; (2) it’s too much aid; (3) [...]

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Fed Commits to Buy up to $1.45 Trillion of Mortgage Debt

by Moe Bedard

For the first time in recent memory the markets seem to be rebounding from record losses. In an effort to continue the sustained improvement of the economy the Fed recently announced a plan to buy $300 million in T-Bills and as much as $1.45 trillion of toxic mortgage debt. The plan is aimed to get [...]

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The Federal Reserves Kohn on the Troubled Asset Relief Program “TARP”

by Moe Bedard

Kohl, before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C. Jan. 13. 2009.

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The Incentives of Mortgage Servicers: Myths and Realities

by Moe Bedard

Finance and Economics Discussion Series Divisions of Research & Statistics and Monetary Affairs
Federal Reserve Board, Washington, D.C.
As foreclosure initiations have soared over the past couple of years, many have questioned whether mortgage servicers have the right incentives to work out troubled subprime mortgages so that borrowers can avoid foreclosure and remain in their homes. Some [...]

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New York Fed Announces Formation of the Lawyers’ Foreclosure Intervention Network

by Moe Bedard

The Federal Reserve Bank of New York today announced the formation of the Lawyers’ Foreclosure Intervention Network (LFIN), a pro bono pilot program cosponsored by the City Bar Justice Center, the legal services arm of the New York City Bar. Led by director Lynn Armentrout, LFIN has as its mission marshaling the resources of New [...]

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The Fed’s Krozner Wants Loan Modifications Streamlined

by Moe Bedard

Federal Reserve Board Governor Randall Kroszner said on Monday, ” With the continuing high rates of foreclosure and the high costs associated with foreclosures, it is in the interest of lenders, investors, and borrowers to develop prudent loan modification programs to help borrowers on a larger scale and at sustainable levels.
Efforts to streamline or standardize [...]

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The Federal Reserve System is not a strong advocate for consumers, and two, there is no Santa Claus

by Moe Bedard

Barney Frank’s Statement on the Federal Reserves Proposed Changes to HOEPA 
Washington, DC – Rep. Barney Frank, chairman of the House Committee on Financial Services today released the following statement in reaction to the Federal Reserve’s proposed rules on the Home Owner’s Equity Protection Act (HOEPA): “The staff of the Financial Services Committee and I have [...]

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