In light of the Congressional shutdown and the looming debt ceiling deadline, Treasury Secretary Jack Lew published an editorial in USA Today, insisting that America is obligated to pay all of its bills and commitments.
U.S. Treasury Secretary Jack Lew warned Congress that the United States will exhaust its borrowing capacity no later than Oct. 17, at which point the government will have only $30 billion in cash on hand.
Sometimes offshoring sounds like a bad word. In reality, offshore mortgage servicing simply means using remote staff, usually to take advantage of lower labor and overhead costs and round-the-clock staffing availability. But legitimate questions remain. In the midst of increasing compliance pressures, is offshoring a sound strategy for mortgage servicers looking to stay competitive, or a fast track to dissatisfied customers and trouble with the CFPB?
Houses that have been rehabbed in the recovery project are now being sold as quickly as they are completed, and the profit on each house goes right into rehabbing the next one. In the past two years, the company has rehabbed and sold 58 homes, and has plans to do 200 more.
The fate of the Fannie and Freddie investors is not our concern. We are concerned about what happens to communities. And what is happening right now is that the future ability of working class families to obtain responsible home loans is in serious jeopardy.