How to Vacate A Default Judgment Over A Debt

How to Vacate A Default Judgment Over A Debt Cross posted from Loan Lawyers The vast majority of people who are sued by a debt buyer or debt collector never respond to the lawsuit in court. In fact, studies show that up to 90% of consumers facing a debt collection lawsuit never respond at all. … Read more

FDCPA 9th Circuit: HERNANDEZ V.WILLIAMS ZINMAN & PARHAM – Class Action Dismissal Reversed

FDCPA 9th Circuit: HERNANDEZ V.WILLIAMS ZINMAN & PARHAM – Class Action Dismissal Reversed SUMMARY Fair Debt Collection Practices Act The panel reversed the district court’s summary judgment in favor of the defendant in an action under the Fair Debt Collection Practices Act. The Act requires that within five days of “the initial communication” with a … Read more

GUIDING PRINCIPLES FOR THE FUTURE OF LOSS MITIGATION: HOW THE LESSONS LEARNED FROM THE FINANCIAL CRISIS CAN INFLUENCE THE PATH FORWARD

  GUIDING PRINCIPLES FOR THE FUTURE OF LOSS MITIGATION: HOW THE LESSONS LEARNED FROM THE FINANCIAL CRISIS CAN INFLUENCE THE PATH FORWARD EXECUTIVE SUMMARY This white paper has been prepared by the U.S. Department of the Treasury (Treasury) in conjunction with the U.S. Department of Housing and Urban Development (HUD) and the Federal Housing Finance … Read more

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