Restoration of the Protecting Tenants at Foreclosure Act 2018

Restoration of the Protecting Tenants at Foreclosure Act 2018 Congress Permanently Authorizes the Protecting Tenants at Foreclosure Act President Trump signed into law a permanent extension of the “Protecting Tenants at Foreclosure Act” (PTFA) on May 24. The PTFA was included in a larger deregulation bill (S. 2155) passed by the House on May 22. … Read more

Retrospectives of the Financial Crisis Are Leaving Out the Most Important Part—Its Victims

Retrospectives of the Financial Crisis Are Leaving Out the Most Important Part—Its Victims BY David Dayen Because I’m a masochist, I’ve read as many retrospectives as I could about the 10th anniversary of the fateful failure of Lehman Brothers, the emblematic event of the financial crisis. And I can’t help but notice a gaping hole … Read more

RMBS: SEC Charges Moody’s With Internal Controls Failures and Ratings Symbols Deficiencies

SEC Charges Moody’s With Internal Controls Failures and Ratings Symbols Deficiencies FOR IMMEDIATE RELEASE 2018-169 Washington D.C., Aug. 28, 2018 — The Securities and Exchange Commission today announced that Moody’s Investors Service Inc., one of the nation’s largest credit ratings agencies, has agreed to pay a total of $16.25 million in penalties to settle charges … Read more

America’s Banks Have Never Made More Money

American banks just had their most profitable quarter ever. Again. Tax cuts helped drive bank profits to a record $60.2 billion in the second quarter, the FDIC says. That easily topped the $56 billion in profit that banks hauled in during the first quarter. Bank profits jumped 25% in the second quarter from a year … Read more

Fannie-Freddie Scraps Program for Single Family Rental Home Investors

Single Family Rental-Home Investors FHFA says pilot program showed market performing successfully Effort has drawn criticism over deals with Wall Street firms The U.S. regulator for Fannie Mae and Freddie Mac is shutting down a controversial program that subsidizes loans for firms investing in single family rental homes, saying the market can function well without … Read more

US Foreclosures Rise For First Time In 36 Months, Florida Up 35%

US Foreclosures Rise For First Time In 36 Months According to the just released July 2018 U.S. Foreclosure Market Report released by ATTOM Data Solutions, foreclosure starts in July increased by 1% from a year ago — the first year-over-year increase following 36 consecutive months of decreases. Foreclosures rose from a year ago in 96 … Read more