Blackstone Said to Plan Invitation Homes IPO for First Half 2017

Blackstone Said to Plan Invitation Homes IPO for First Half 2017 Blackstone Group LP expects to take its Invitation Homes unit public in the first half of next year, capitalizing on a rally in U.S. single-family rental landlords to list the biggest company in the industry, according to two people familiar with the matter. The … Read more

Jawnts: Fighting Back After the Bubble Burst

Jawnts: Fighting Back After the Bubble Burst Ever get the feeling you’ve been cheated? That’s the creeping sensation Florida homeowner Lisa Epstein had as she reviewed the foreclosure case against her. She’d never dealt with the financial institutions taking her to court and their paperwork didn’t seem to be in order. Most of the millions … Read more

Council Rock Alum Pens Saga of ‘Largest Fraud in American History’

Council Rock Alum Pens Saga of ‘Largest Fraud in American History’ An author who grew up in Bucks County tells the inside story on foreclosures that followed the last decade’s housing bubble. It’s not pretty. David Dayen came of age as a writer during a golden age for bloggers. Dayen, a 1990 graduate of Council … Read more

Nightmare on Wall Street: Republicans & Democrats Agree on Reinstating Glass-Steagall Act

Nightmare on Wall Street: Republicans & Democrats Agree on Reinstating Glass-Steagall Act I can already hear the sloshing sounds of money. An amazing thing happened at the Republican Convention when some unexpected language showed up in the official 66-page Republican Platform 2016, a document that a delegate from Texas enthusiastically called, “the most conservative platform … Read more

FEDSPEAK: Are Lemons Sold First? Dynamic Signaling in the Mortgage Market

Are Lemons Sold First? Dynamic Signaling in the Mortgage Market Abstract A central result in the theory of adverse selection in asset markets is that informed sellers can signal quality by delaying trade. This paper uses the residential mortgage market as a laboratory to test this mechanism. Using detailed, loan-level data on privately securitized mortgages, … Read more

Foreclosure Fraud: The Inside Story Behind The Appeals Court Reversal of PennyMac v. Sanbria

Foreclosure Fraud: The Inside Story Behind The Appeals Court Reversal of PennyMac v. Sanbria By Matthew D. Weidner, Esq. On Friday July 15, 2016, Florida’s Second District Court of Appeals reversed a Final Judgment of Foreclosure that was entered against my client in the case, PennyMac v. Sanbria. The full opinion is here: Sanbria The … Read more

Wells Fargo to Pay $16 Million to Settle TCPA Class Action

“The Settlement provides excellent value for the class. “Specifically, Wells Fargo will pay a non-reversionary cash sum of approximately $16,319,000, to be distributed (after deductions for cost of notice, claims administration, and Court-awarded attorneys’ fees and costs) on a pro rata basis to the Class Members who file qualified claims.” ~ Wells Fargo to pay … Read more

FEDSPEAK: The Causes of Household Bankruptcy – The Interaction of Income Shocks and Balance Sheets

The Causes of Household Bankruptcy: The Interaction of Income Shocks and Balance Sheets Abstract We examine how household balance sheets and income statements interact to affect bankruptcy decisions following an exogenous income shock. For identification, we exploit government payments in one but not any other Canadian province that varied exogenously based on family size. Receiving … Read more