May 18th 2012 3:45PM
The Hawaii Legislature and Massachusetts House of Representatives passed bills that put tougher restrictions on foreclosures. In Hawaii, the new bill updates the state's foreclosure law, which was called the strongest in the country when it passed last year. The update makes the regulations even stricter, and provides... Continue Reading »
Mar 31st 2011 1:15PM
Starting April 1, a federal law will change the way mortgage brokers earn their pay. Advocates say the rule prevents needless mark-ups on loans that pad brokers' incomes. However, critics argue the law hurts consumers by narrowing the marketplace and funnels more customers to fewer lenders. Don Hagan, vice president of... Continue Reading »
Jan 20th 2011 4:35PM
Sheila Bair wants to help rescue the nation's homeowners from the foreclosure disaster. On Wednesday, the chairman of the Federal Deposit Insurance Corp. (FDIC) recommended the formation of a foreclosure claims commission not unlike the one created to aid victims of the oil spill in the Gulf of Mexico in 2010. Bair was... Continue Reading »
Aug 10th 2010 5:13PM
When President Obama signed the Dodd-Frank Act in late July, he ended the controversial Home Valuation Code of Conduct or HVCC, now set to expire in 90 days. HVCC was implemented in May 2009 by the Federal Housing Financing Agency "as an attempt to improve the independence of appraisers by prohibiting lenders and third... Continue Reading »
Mar 16th 2010 12:45PM
It's on. The U.S. Senate is finally taking up financial reform. And believe it or not, there's a lot in its 1,300-plus page bill to like – and to defend from lobbyists mobilizing to tear it apart. So listen up, and put your senator and congressman's numbers in your speed dial. Yesterday Sen. Christopher Dodd (D-CT)... Continue Reading »
