How the Homeowners Took Down the Entire Financial System – Anatomy of Risk Management Practices in the Mortgage Industry: Lessons for the Future – May 2010

Anatomy of Risk Management Practices in the Mortgage Industry: Lessons for the Future Clifford V. Rossi Robert H. Smith School of Business University of Maryland May 2010 Executive Summary Not since the Great Depression has there been a contraction in the U.S. housing market of such scale. With much attention given already to complex mortgage … Read more

Foreclosure Law Update – MBA’s National Mortgage Servicing Conference and Expo 2010

A record number of states revised foreclosure laws or enacted new requirements, such as mandatory mediation, in an effort to help delinquent borrowers save their homes. The panelists will discuss and analyze 2009 legislation affecting 1. FORECLOSURE NOTICES 2. M.E.R.S. Update 3. MEDIATION–A comparative analysis of state mediation requirements: California; Connecticut; Florida; New Jersey; New … Read more

Mortgage Bankers Association Mockery – INCOMING!!!! Mortgage Servicing Under Fire

Here is an interesting find… Now they are mocking Congress, Federal Regulators, State Attorneys General, and other Enforcement Officials… From the presentation… Check out the full presentation below… 4closureFraud INCOMING!!!! Mortgage Servicing Under Fire [scribd id=31143848 key=key-7xdoc4kpfzrfqx39lee mode=list]

DISTURBING BEHAVIOR in FLORIDA: The $67K Water Lien! Revoked Homestead!

This one is from Stop Foreclosure Fraud Individual does not want to disclose their name. I have authenticated this to be true. I have spoke to others and this has happened to them …but without ANY violations. Could this be the way that the MBA might get around to allow banks to foreclose on “Non-Homestead” … Read more

What Happens to Household Formation in a Recession

The present economic downturn has been, by many measures, the most severe since the Great Depression.  The housing market has been buffeted by large declines in real house prices, caused in part by the collapse of the housing finance system and by continued job losses. While the difficulties in the housing market are nationwide, some … Read more

HUD’s Report to Congress on the Root Causes of the Foreclosure Fraud Crisis

“Control fraud is when the CEO of a company uses the corporation as a weapon to commit fraud”. William Black “The result is – we have seen zero prosecutions of the specialty non-prime lenders that caused the crisis,” Black said. “The mortgage bankers are going to position themselves as the victims. This has been so … Read more

MBA Files 2 “Comment Letters” with Federal Reserve on Proposed TILA Changes

On Tuesday, December 22, 2009, the Mortgage Bankers Association (MBA) filed 2 comment letters with the Board of Governors of the Federal Reserve System, both relating to the proposed amendments to Regulation Z, the implementing regulation for the Truth in Lending Act (TILA). The first letter specifically addresses the proposed rules to revise consumer disclosures … Read more