Posts tagged as:

us treasury

A Treasury rule on loan modifications riles the securities market

by Moe Bedard

The $1.7 trillion mortgage securitization market is still a mess, despite (or in part because of) the Federal Reserve’s $700 billion splurge into the market. But another reason may be Treasury’s decision to undermine private mortgage-backed securities (MBS) contracts.

BlackRock Inc. Chairman Laurence Fink went so far recently as to call this “one of the biggest [...]

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Federal Government and State AG’s continue to take aim at mortgage fraud

by Moe Bedard

“A clear lesson of this financial crisis is that American consumers need better protection against fraud,” said Treasury Secretary Tim Geithner. “And while we will prosecute anyone who violated the law, going forward we will not wait for problems to peak before we respond. The Obama Administration is acting preemptively, across federal agencies and alongside [...]

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Geithner’s Mortgage Shame Game

by Moe Bedard

Faced with a sluggish start to the Obama administration’s $75 billion effort to stem foreclosures by reworking loans, Treasury Secretary Timothy Geithner told lawmakers Thursday that the threat of a public backlash would eventually force more firms to rework troubled loans.

“Institutions do not want to live with the consequences of being so far behind the [...]

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Guilt by Association

by Moe Bedard

By Moe Bedard
The economy in America has its citizens demanding answers. Attorney’s General, the Treasury Secretary and even the President have issued nothing less than a legal holy war against any firm associated with the loan modification industry, lending industry and securities dealers that had anything to do with mortgage backed securities.
Guilt by association is [...]

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U.S. Holds the Whip Hand in Modifying Mortgages

by Moe Bedard

For much of the last year, Washington officials have been pressing the mortgage industry to modify home loans and avoid foreclosures. Now, the extraordinary government intervention in Fannie Mae, Freddie Mac and a growing number of banks puts federal agencies in the powerful, and awkward, position of deciding which borrowers will receive help and who [...]

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Paulson on US Housing Market Before the FDIC on Mortgage Lending

by Moe Bedard

July 8, 2008
hp-1070
Remarks by Secretary Henry M. Paulson, Jr. on U.S. Housing Market before FDIC’s Forum on Mortgage Lending to Low and Moderate Income Households

Washington, DC–Good afternoon. Thank you Chairman Bair for convening this forum, and thanks to all of you for your interest in encouraging responsible lending to low and moderate income households.

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Hope Now Reports Record Loan Workouts in April – Moe Says, “It Still is Not Enough!”

by Moe Bedard

Yes, loan modifications and loan workouts are happening and it appears that most lenders and servicers have stepped up to the loss mitigation plate. Or have they?
Hope Now, led by US Treasury Secretary Henry Paulson, has just reported record loan workouts in April.
It is only common sense, that every month we are going to start to [...]

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Under Secretary for Domestic Finance Robert K. Steel Remarks Before the President’s Advisory Council on Financial Literacy Subcommittee on the Underserved

by Moe Bedard

 Washington- Thank you and good morning. Let me first congratulate you on a timely and important meeting. I especially want to thank the President’s Advisory Council on Financial Literacy and the Subcommittee on the Underserved for organizing this meeting.
In particular I want to thank the subcommittee chair, John Hope Bryant, as well as Council members [...]

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Remarks by Secretary Henry M. Paulson, Jr. on the U.S. Economy, Housing and Capital Markets

by Moe Bedard

May 16, 2008
HP-981Before the Washington Post 200 Lunch
Washington – Thank you, Len. Over the last forty years, Washington has transformed into a diverse corporate center. Congratulations to the Post for recognizing this through their annual list of 200. And I am pleased to join you and represent the “old” Washington, the less than ten [...]

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Remarks by Secretary Henry M. Paulson, Jr on Current Financial and Housing Markets at the US Chamber of Commerce

by Moe Bedard

 March 26, 2008
HP-887Washington – Thank you for inviting me to address your Capital Markets Competitiveness Conference. We share a commitment to competitive markets, and Treasury will soon release a Blueprint for Regulatory Reform that proposes a financial regulatory framework which we believe will more effectively promote orderly markets and foster financial sector innovation and competitiveness.
As [...]

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