Miscellaneous

• Connecticut Attorney General: Countrywide Conned Customers into Loans

  Paul Kiesel | August 06, 2008 2:53 PM | 0 CommentsLos Angeles, CA

  Another state is accusing Countrywide Financial of mortgage fraud. Connecticut joined California, Florida and Illinois among the states that have sued Countrywide, which was responsible for one in...

• Freddie Mac Boss Ignored Foreclosure, Housing Crisis Warnings

  Paul Kiesel | August 05, 2008 3:17 PM | 0 CommentsLos Angeles, CA

  Richard F. Syron, the chief executive of Freddie Mac, rejected internal warnings that, according to the New York Times, "Could have protected the company from some of the financial crises now engulfing it."

• Foreclosure Foreshadowing

  Paul Kiesel | August 04, 2008 8:28 PM | 0 CommentsLos Angeles, CA

  Many news articles today were concerned with prime borrowers and the next wave of foreclosures that will stem from prime borrowers defaulting on mortgages that are "underwater" or too expensive to...

• Subprime Crisis was the Tip of the Iceberg

  Paul Kiesel | August 04, 2008 3:49 PM | 0 CommentsLos Angeles, CA

  As subprime defaults begin to level off for the first time in almost two years, a bigger problem is quickly building: Homeowners with good credit are falling behind on their monthly mortgage...

• New York Times Op-Ed: Mortgaged to the World, Exchange Stabilzation Fund

  Paul Kiesel | August 01, 2008 8:32 PM | 0 CommentsLos Angeles, CA

  An very well written Op-Ed showed up in the New York Times on Tuesday concerning President Bush's signing of the housing bill, which occurred the following day. The most interesting element to the...

• California's Housing Turns Deadly

  Paul Kiesel | August 01, 2008 8:10 PM | 0 CommentsLos Angeles, CA

  As foreclosure rates continue to rise throughout Southern California, now its citizens have to deal with another problem due to the foreclosure crisis: The West Nile virus. The two, foreclosures...

• Former Fed Chief Greenspan Changes Economic Outlook: Housing Nowhere Near the Bottom

  Paul Kiesel | July 31, 2008 7:36 PM | 1 CommentLos Angeles, CA

  According to CNBC.com, former Federal Reserve Chairman Alan Greenspan said the US is “nowhere near the bottom” of the housing slump and is “right on the brink” of a recession. These remarks greatly...

• Combating Subprime Mortgage Fraud

  Paul Kiesel | July 31, 2008 6:37 PM | 1 CommentLos Angeles, CA

  The New York State Commission of Investigations reported that the state's mortgage borrowers need more regulatory protection from predatory lenders, according to CNNMoney.com. Predatory mortgage...

• Bush Signs Housing Relief Package

  Paul Kiesel | July 30, 2008 2:27 PM | 0 CommentsLos Angeles, CA

  President Bush finally signed into law this morning the housing relief bill that seemed, until two weeks ago, as if it wouldn't get signed (see the President's comments from last week), after months...

• Center for Responsible Lending Foresaw Foreclosure Crisis Back in 2006, Greenspan and Bush Officials Largely Ignored Group's Findings

  Paul Kiesel | July 28, 2008 6:08 PM | 0 CommentsLos Angeles, CA

  Below is an article from HousingWire.com, written back in December, 2006. The article clearly states that "billions of dollars" will be lost and that the then looming foreclosure crisis will be "one...