Are record-low interest rates masking high-cost mortgage lending?

Are record-low interest rates masking high-cost mortgage lending?

Five leading economists weigh in and the answer may surprise you

Auction.com partners with Google to predict housing trends

Nowcast will predict in real time

The New York Times rambles, and mangles mortgages along the way

Mortgage finance and mortgage regulation aren’t the paper’s strong suits
W S
Servicing / The Ticker

Eminent domain survives Richmond City Council opposition

judge 1

In a narrow 4-3 margin, the Richmond City Council rejected a resolution to terminate a contract with Mortgage Resolution Partners, the company that hatched a plan to seize underwater mortgages through eminent domain. Per Contra Costa Times:  

As the columnist Tom Barnidge put it in the article:

The flaws in Richmond's plan are many, beginning with whether eminent domain can even be used this way. Plus, the plan affects a limited number of homes -- barely 3 percent of single-family residences -- and helps no one in foreclosure, while MRP tacks a fee onto each transaction. Then there's the search for lenders to fund new loans at more than 100 percent of value.

This scheme to end the so-called mortgage crisis, championed by bank-hating Mayor Gayle McLaughlin, is rich in intention and short on critical thought.

Read full story

Recent Articles by Brena Swanson

Comments powered by Disqus