Word: mortgagees
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In February, the Obama Administration said it would pay mortgage-servicing companies to modify existing home loans to make them more affordable - an attempt to keep struggling borrowers in their houses and slow the escalating pace of foreclosures. In a way, the problem was an odd one. Lenders lose a...
The most reasonable objection the banks have to the CFPA is that its reach is too limited, hence subjecting banks to burdens other financial firms won't bear. Products regulated by the Securities and Exchange Commission and Commodity Futures Trading Commission would be exempt from CFPA oversight, as would most...
Why did Dodd’s political health deteriorate? He caught Connecticutitis. When you spend 27 years in the Senate, presidential ambitions cloud your mind. You move to Iowa and win zero delegates in the primary. Then, you get sloppy. You wait 193 days to disclose documents about your cheap...
For its part, Citigroup says its turnaround plan - which has effectively split the company in two - is working. And while Citi Holdings, in which Citi has stuck its mortgage loans, is still in bad shape, Citi officials say Citicorp, which the bank calls its "core" investment bank and its retail...
What about concerns that this system would end up punishing an inmate's family? Under this bill, an inmate's house is protected, the mortgage payments are protected, child support would be protected. I think that's about as far as we go. We've put some protections in there...