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

Mass Layoffs At Wells Fargo As A Result Of Slumping Housing Market

Mass Layoffs At Wells Fargo As A Result Of Slumping Housing Market Whether due to the collapse of its “reputable” public image following a relentless barrage of client scandals, the Fed’s recent historic crackdown on the company due to its culture of fraud, or simply because the US housing market has sharply rolled over, last … Read more

The Financial Crisis Cost Every American $70,000, Fed Study Says

The Financial Crisis Cost Every American $70,000, Fed Study Says America never made up the growth it lost in the 2008 global financial crisis and the recession it triggered. A decade later, U.S. households are still counting the cost. Gross domestic product remains well below what its 2007 trend would have implied and it’s unlikely … 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