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A House staffer told Examiner.com, demanding anonymity, that the Dodd-Shelby Senate housing bill is beginning to be referred to as the "Bank of America bill on steroids." The Dodd-Shelby bill (Sen....
As Congress continues to talk about providing a federal response to the foreclosure crisis, which has been going on for almost a year, attorneys general, like New York Attorney General Andrew Cuomo,...
On the same day that two Bear Stearns executives were arrested, the FBI announced that 400 people have been charged with mortgage fraud. The FBI has drastically increased its efforts, since March 1,...
President Bush has repeatedly said that he would veto any House or Senate housing bill/ foreclosure package that helps out lenders and/or speculators. Of course, it's interesting he continues to say...
The Banking, Finance and Insurance Committee will be taking a look at various bills related to the subprime mortgage mess, that are being brought to this committee in hopes that it will prevent the...
Senator Chris Dodd said Tuesday that he was aware that Countrywide Financial had assigned him to a V.I.P. program in 2003 (the beginning of the subprime boom) when he refinanced his mortgages on his...
Criminal charges are being filed against managers of two Bear Stearns hedge funds whose collapse triggered the credit crisis last year, this according to the Wall Street Journal. Following...
The most recent data released on the number of subprime mortgage borrowers who've received help by lenders over the last few months, is likely dubious in its accuracy or its detail. And,...
Here are Barack Obama's and John McCain's plans for dealing with the mortgage crisis (according to each candidate's respective website): Barack Obama wants to create a fund to help people refinance...
This past weekend, The Washington Post began a three-part series that examines all of the avarice, pride, and myopic lending during the subprime boom. Overall, the series, written by Alec Klein...
President Bush temporarilysuspended a five-year-old rule today that had required "home-flippers" to wait 90 days before reselling a home. The suspension will take place for one year. The move was...
According to Forbes.com and the Associated Press, GMAC LLC spent $410,000 in the first quarter lobbying on several bills related to mortgage lending and other issues, according to a disclosure...
The Federal Bureau of Investigation has ordered more than two dozen of its field offices to stop probing some financial crimes in order to focus on a surge in subprime mortgage fraud, according to...
Beware of the smell that comes from a newly purchased vinyl shower curtain, say health experts.Vinyl shower curtains that are sold at major retailers throughout the country contain a chemical that...
Since the rescue of Bear Stearns, there have been dissenting views within the Fed that have suggested the governmentisinducing more risk takingby lenders.The Richmond Fed President, Jeffery...
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