$714,000 Spent by Mortgage Bankers Association Lobbying on Lending, Housing Bills in 1st Quarter

These poor fellas couldn’t pay their mortgage but can spend their money frivolously on their “friends”… The Irony. After shelling out nearly $80 million for a downtown Washington office building in 2007, right around the peak of the commercial real estate price bubble, the Mortgage Bankers Association sold its 10-story Washington headquarters for $41 million … Read more

Bankruptcy Court OKs Mortgage Cramdown on Primary Residence

Shhh… Did you hear that? It sounded like a bunch of lobbyists pulling out their wallets… Now I am not an attorney, but this one seems like a real doozy.  In re: Bradsher, Case No. 09-80942, USBC M.D. N.C., Durham Division (February 16, 2010). The applicable provisions of the Bankruptcy Code (ie. sections 506(a) and … Read more

Bankster Lobbyists Launch ‘Call To Action’ To Crush Financial Reform

Bank Lobbyists Launch ‘Call To Action’ To Crush Financial Reform CEO Alert December 15, 2009 TO: Bank CEOs FROM: Art Johnson, ABA Chairman RE: Regulatory Reform – An Update and a Call to Action On December 7, I sent you a “Halftime Report” in which I said ABA thought the House would pass narrowly the … Read more

Banksters Say No Way to Proposed Mortgage Bankruptcy Changes

Financial Reform: Cramdown Fails, CFPA Preserved Dec. 11 (Bloomberg) — Republican lawmakers defeated a mortgage “cram-down” amendment that would have given federal judges the power to lengthen mortgage terms, cut interest rates and reduce loan balances for homeowners in bankruptcy court. The U.S. House of Representatives voted 241-188 today, stripping the amendment from a broader … Read more