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Recapping Yesterday’s Senate Banking Hearing on Foreclosure Fraud

I’m going to agree with Yves Smith that yesterday’s Senate Banking Committee hearing on foreclosure fraud went really badly for the banks. Now, it’s a Senate hearing, and it’ll soon be filed away with...

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Levitin Addresses Elephant in the Room: Regulators Don’t Want to Fix the...

Georgetown U.’s Adam Levitin has become something of a rock star during the foreclosure fraud crisis. He had some of the best and most biting commentary in the Senate Banking Committee hearings on the...

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Rep. Brad Miller: “Protecting bank solvency has been a goal of Treasury that...

One of the more amusing moments of yesterday’s House Financial Services Committee hearings on foreclosure fraud was when the representatives for the loan servicers were asked why they were...

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Top Corporate Lawyer Claims Mortgage Rates Will Skyrocket Without MERS

Laurence Platt, a partner at the firm K&L Gates, which defended Wells Fargo and US Bank in the Ibanez case, basically threatened the American homeowner with sky-high interest rates if the banks...

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Levitin Crystallizes AG Settlement Travesty

I wanted to give more space to Adam Levitin’s superlative take on the attempted foreclosure fraud settlement and the state of housing and the economy in general. Basically his take is that the economy...

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Foreclosure Fraud Settlement: “Making Banks Money”

I liked that NBC Nightly News used Yves Smith to describe the foreclosure fraud settlement last night. And she’s right that the ultimate penalty here is tiny for the banks compared to the damage done....

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Why Ed DeMarco Won’t Be Fired

When Ed DeMarco rejected participation for Fannie Mae and Freddie Mac in the HAMP principal reduction program, condemnation on the left was fast and furious. See the article here: Why Ed DeMarco Won’t...

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