Fresh Look: HarvardJCHS State of the Nation’s Housing 2017 – 39 Million Households Can’t Afford Their Homes

HarvardJCHS State of the Nation’s Housing 2017 – 39 Million Households Can’t Afford Their Homes HO LEE FUK! 39 Million Households are Paying More for Housing Than They Can Afford Rising housing costs are putting a major squeeze on Americans. Nearly 39 million households can’t afford their housing, according to the annual State of the … Read more

The Irony: Ocwen Sues Fidelity Information Services Over ‘Fraudulent, Abusive Billing Scheme’

The Irony: Ocwen Sues Fidelity Information Services Over ‘Fraudulent, Abusive Billing Scheme’ Ocwen Financial Corp. has filed a lawsuit in California Superior Court alleging that Fidelity Information Services LLC (FIS) inflated its monthly rate and charged Ocwen for a variety of expenses while serving as its monitor for a 2015 mortgage servicing settlement case. According … Read more

SEC Probes Rental Home Values in Private-Equity Bond Deals

SEC Probes Rental Home Values in Private-Equity Bond Deals U.S. securities regulators are investigating whether bonds backed by single-family rental homes and sold by Wall Street’s biggest residential landlords used overvalued property assessments. Radian Group Inc.’s Green River Capital unit is among companies that received a request for information from the Securities and Exchange Commission … Read more

Wells Fargo Claws Back Millions From John Stumpf, Carrie L. Tolstedt, Over Account Sales Scandal

“In its report, the board said as of last Friday, it decided to claw back from Mr. Stumpf an additional $28 million of incentive compensation paid in March 2016 under an equity grant made in 2013. In September it announced $41 million in clawbacks from Mr. Stumpf. The board is also clawing back Ms. Tolstedt’s … Read more

When It Comes to Wall Street, Preet Bharara Is No Hero

When It Comes to Wall Street, Preet Bharara Is No Hero by Jesse Eisinger ProPublica After his election in 1968, President Richard Nixon asked Robert Morgenthau, the US Attorney for the Southern District of New York, to resign. Morgenthau refused to leave voluntarily, saying it degraded the office to treat it as a patronage position. … Read more

Economic Distress and Voting: Evidence From the Subprime Mortgage Crisis

Economic Distress and Voting: Evidence From the Subprime Mortgage Crisis Abstract Roughly 7 million Americans lost homes to foreclosure during the Great Recession. Despite claims that the subprime mortgage crisis helped fuel recent political turmoil in the U.S., we lack systematic empirical evidence about the effects of this unprecedented spike in home foreclosures on American … Read more