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new york

New York Tackles Reckless Subprime Lending…Will California Be Next?

by Moe Bedard

Recent headlines have been gloomy: housing prices continue to sink, Wall Street executives knowingly pushed bad subprime investments, and mortgages keep failing in droves.  As Congress debates how to put the economy back on track, the good news is that the states are moving ahead to prevent another subprime crisis in the future and strengthen [...]

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US FTC: ‘Actively Assessing’ Mortgage Firms For Violations

by Moe Bedard

WASHINGTON -(Dow Jones)- The Federal Trade Commission is actively examining whether mortgage lenders and servicers have violated federal laws in their dealings with borrowers, according to a letter sent to a U.S. Senate lawmaker.”We are actively assessing whether lenders and servicers are making deceptive claims in violation of Section 5 of the FTC Act,” FTC [...]

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HALT Task Force Publishes Progress Report on Subprime Mortgage Crisis

by Moe Bedard

NEW YORK, NY (05/11/2008; 1102)(readMedia)– Superintendent of Banks, Richard H. Neiman, today delivered a report to update Governor David A. Paterson on the progress made by the Governor’s Task Force to Halt Abusive Lending Transactions (HALT). The HALT Task Force is an interagency task force established in March 2007 to address the mortgage crisis and [...]

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