According to the New Yorker, Lloyd Blankfein, Gary Cohn, and other leaders at Goldman Sachs have benefitted from a financial crisis that they helped create. Questions: 1. How have the men in the email fared? 2. By how many months did the story about Goldman Sachs in the New York Times precede mortgage disaster? 3…. Read more »
Posts Tagged: mortgage crisis
Fueling Both the Upside and Downside
In the wake of the financial crisis, HUD established the Dirtressed Asset Stabilization Program. Unfortunately, this program has allowed many of these loans to be sold to hedge funds and private equity firms, rather than nonprofits. Questions: 1. What have the private equity firms done that Senator Warren is rallying against? 2. How many distressed… Read more »
The Clock is Ticking!
A new legal quirk could bring a surreal ending to foreclosure casess around the country; the debtors may get to keep their homes without ever having to pay another dime. Questions: 1. Why might tens of thousands of homeowners who have missed more than five years of mortgage payments get to keep their homes without… Read more »
The Never-Ending Foreclosure Crisis: Robo Signer Redux
Fannie is trying to recoup the difference between what the borrowers owed on the mortgages when they were foreclosed and the amount Fannie received when it resold the properties. In Florida, these deficiency judgments can be pursued for 20 years, and borrowers must also pay a compounded annual interest rate of 4.5 percent. Several legal… Read more »