The financial meltdown has led to only a few civil and criminal cases against executives, and even those focused on peripheral issues: Goldman Sachs’ peddling of a credit derivative obligation and the communications of two former Bear Stearns hedge fund managers.
But the Securities and Exchange Commission’s securities fraud action against Angelo Mozilo, former chief executive [...]
Posts Tagged ‘financial system’
The Subprime Mortgage Crisis on Trial
August 25th, 2010 by Mortgage Writer
Tags: bank of america, borrowers, financial system, mortgage backed securities, mortgage lenders, mortgage market, mortgages, subprime mortgage
more...Bond Sellers Join With Mortgage Investors to Seek Tougher Rules
August 7th, 2010 by Mortgage Writer
Creators and underwriters of asset- backed securities joined bond investors in telling the Securities and Exchange Commission to go further than proposed new rules on sellers’ obligations to take back bad mortgages from future securitizations.
“Our membership felt the SEC proposal didn’t address the real problem,” Chris Killian, vice president of the Securities Industry and Financial [...]
Tags: bad credit, federal reserve, financial crisis, financial system, mortgage bonds, mortgage investors, wall street
Feds put up $1 billion more for mortgage relief
July 30th, 2010 by Mortgage Writer
Congress has just come up with an extra $1 billion to help people who can’t pay their mortgage because of unemployment or a medical problem.
Under this new Emergency Mortgage Relief program, eligible homeowners who are at least three months delinquent can get up to $50,000 apiece in federal loans to pay their mortgages.
The money for [...]
Tags: Federal Housing, financial system, homeowners, housing market, mortgage, mortgage market, mortgage payments, regulators, unemployment
Housing policy must be set on sustainable basis
July 29th, 2010 by Mortgage Writer
The financial reform bill enacted last week is a significant step toward a much-needed modernization of our regulatory structure. It will provide tools to help mitigate and manage the next financial crisis. But the job remains unfinished until Congress addresses the housing policies that fueled the crisis — a big part of which requires reforming [...]
Tags: fannie mae, Federal Housing, financial crisis, financial system, Freddie Mac, mortgage finance, mortgage rates
Program to Help Prevent Foreclosures Falls Short
July 22nd, 2010 by Mortgage Writer
The Obama administration’s program to help homeowners avoid foreclosure has fallen far short of its goals, in part because the Treasury Department has failed to spell out what its objectives should be, according to an assessment offered to Congress on Wednesday.
Only 390,000 homeowners have seen their mortgage terms permanently modified since the $50 billion program [...]
Tags: financial system, foreclosures, homeowners, interest rates, mortgage market, mortgage modification, mortgages, US Economy, wall street
Jobless Claims, Deficit Data, Auctions, FHA Audit Release
November 12th, 2009 by Mortgage Writer
In terms of data releases the week is only beginning now. Stocks have been rising this week led by the Dow hitting a 13-month high Tuesday and continuing to climb yesterday, but the drivers have been from outside the US economy. This morning the market is looking more cautious ahead of weekly jobless claims and [...]
Tags: borrow, financial system, global economy, Treasury Budget Statement
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