Items Tagged with 'Chris Dodd'

ARTICLES

  • The behind-the-scenes push to get rid of Edward DeMarco

    A couple weeks ago I was having a beverage with a former comrade from the trenches of mortgage research (He's now a big money manager). My comrade took me to task for criticizing outgoing Federal Housing Finance Agency Acting Director Edward DeMarco's performance at a September congressional hearing on the GSEs. What did I expect? he asked. Congressional Banking Committee leadership had just sandbagged DeMarco for courageously going after the banks that issued the private-label mortgage securities rotting in Fannie and Freddie's portfolios.
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  • Where have all the advocates for mortgage modification gone?

    At a speech in Falls Church VA this week the President said that "hundreds of thousands of people have lost their home to foreclosure." Is not the number more like 2.3 million? Does he not fully understand the gravity of the situation?  Even if he meant 999,999 he is still off by 66%. Where have all the advocates from Congress and academia of a strong national modification effort gone? Why has the media stopped making the foreclosure crisis a major story anymore? Have things gotten better?
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  • Getting a Second Opinion on Second Liens

    The Senate Banking Committee chairman Chris Dodd, D-Conn., and House Financial Services Committee chairman Barney Frank, D-Mass., late last week dispatched a letter to the heads of bank regulators, calling for action on the issue of second liens. Second mortgages held on banks' balance sheets, according to the congressmen, might be virtually worthless now that house prices across the country have plunged so many homeowners underwater.
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  • Monday Morning Cup of Coffee

    A look at the stories on HousingWire’s weekend desk… with more coverage to come on bigger issues. Senate Banking Committee chairman Chris Dodd, D-Conn., and House Financial Services Committee chairman Barney Frank, D-Mass., sent a letter to the heads of bank regulators, asking them to look into whether banks are inflating the value of second mortgages on their balance sheets, discouraging proactive mortgage modifications and loan restructurings.
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  • Dodd Retains Position, Vows to Focus on Housing Needs

    As President-elect Barack Obama begins his transition into the White House, the usual amount of shuffling is taking place within governmental staff. Senate Committee on Banking, Housing and Urban Affairs chairman Chris Dodd, D-Conn. has said he will stay on as chairman in the 111th Congress and work with ranking member Richard Shelby, R-Ala. and the new Obama Administration "to build an economy that is strong and in which every American has the opportunity to succeed."
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