Posts Tagged ‘barney frank’

OBLABLA or MITTENS for President in 2012? Here’s how I’m going to choose…

OBLABLA or MITTENS for President in 2012?  Here's how I'm going to choose...

"While Paulson didn’t want to write down mortgages, the single biggest factor in determining whether the American middle class has any stored wealth, Paulson was willing to do so in response to pressure. Barack Obama... (Continue reading)

THE SiGNiNG… Or, Pardon me, Mr. Banker, but your REMIC is showing.

THE SiGNiNG... Or, Pardon me, Mr. Banker, but your REMIC is showing.

So, why didn’t the bankers assign the loans to the trusts? I don’t know… for sure. But I’m going to go out on a limb here and tell you it’s because they wanted to borrow against them, and... (Continue reading)

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It’s a Matter of Principal – HAMP’s New PRA

It’s a Matter of Principal - HAMP’s New PRA

And NPV 4.0 is what drives the PRA, which is a “deferred principal reduction program” that allows the homeowner to earn a principal reduction over a three-year timeframe by making all payments in accordance with the loan’s modified terms. According... (Continue reading)

Ratings Agencies Panic: New Financial Reform Bill Means Expert Liability

Ratings Agencies Panic: New Financial Reform Bill Means Expert Liability

Perhaps most notably, but least mentioned, the bill requires the credit rating agencies, Moody’s, Fitch, and Standard & Poors, to not only be more transparent, but also potentially liable for issuing “bad ratings” on bonds. The role of the... (Continue reading)

My Year in A-Trance: What I’ve Learned About Loan Modifications

Why the banking lobby starts to look downright puny next to millions of American homeowners all shouting at the same time… “Congress better take note! We intend to use our VOTE!” Yep, after that the foreclosure crisis would... (Continue reading)

CONTACT CONGRESS: Support Judges Modifying Mortgages NOW! Otherwise, It’s All Up to the Banks.

CONTACT CONGRESS: Support Judges Modifying Mortgages NOW! Otherwise, It's All Up to the Banks.

Click the button below NOW. There is literally NO TIME TO SPARE... You don't even need to know your representative's name. All you need to know is your own name, address, phone and zip code. The letter... (Continue reading)

The People of the United States v. Wall Street’s Bankers

The People of the United States v. Wall Street’s Bankers

As I’ve watched the economy deteriorate over the last two years, I have been amazed and bewildered at our government’s response, or lack thereof. And the more I’ve learned, the worse I’ve felt about our ability to fix what... (Continue reading)

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Why Banks Are Better at Making Loans Than Modifying Them

Why Banks Are Better at Making Loans Than Modifying Them

I thanked my new present value oriented friend and hung up. Next I would need to find a homeowner whose loan had been modified directly by the bank as a result of their request. This wasn't easy. Lots of refinancing,... (Continue reading)

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Giving Money Back, Not Profitable: Federal Reserve Study Proves

Giving Money Back, Not Profitable: Federal Reserve Study Proves

The Federal Reserve Bank of Boston released the results of its in-depth study on President Obama’s plan to solve the foreclosure crisis, and the conclusions shocked politicians and bureaucrats alike from coast to coast. ... (Continue reading)


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