Five of the nation?s largest banks agreed to a $26 billion settlement to retroactively reimburse homeowners affected by the mortgage crisis. California will get $18 billion of those funds, but real estate...
Published News » Subprime Mortgage Crisis
How Will the $26B Bank Settlement Help L.A.?
Posted by mortgage 101 days ago (Editorial)
Ex-Credit Suisse manager pleads guilty in subprime probe
Posted by mortgage 102 days ago (Editorial)
NEW YORK (Reuters) - A former London-based Credit Suisse trader pleaded guilty to a criminal conspiracy charge on Wednesday, and he is cooperating with a U.S. government investigation on writedowns of subprime mortgage derivatives at the height of the financial crisis.
Gov. Brown Bank Regulator An Insider
Posted by mortgage 104 days ago (Editorial)
Gov. Jerry Brown's appointee to head the department that oversees banking, financial and consumer regulations in California led a trade association that fought against tighter lending restrictions before the subprime mortgage crisis exploded and was an executive with Washington Mutual when the now-failed bank was among the most aggressive marketers of loans to high-risk borrowers.
SEC Plays "Patty Cake" with Big Banks
Posted by mortgage 104 days ago (Editorial)
We've been demanding for years now answers to a core question coming from the financial collapse of 2008. Why have the securities regulators, namely the Securities and Exchange Commission, failed to punish the Wall Street banks that fueled the mortgage crisis by underwriting toxic mortgages and selling them to the public? Well, now we know ...
Brown's bank regulator appointee is insider
Posted by mortgage 104 days ago (Editorial)
SACRAMENTO - Gov. Jerry Brown's appointee to head the department that oversees banking, financial and consumer regulations in California led a trade association that fought against tighter lending restrictions before the subprime mortgage crisis exploded.
Mortgage pullback hints of housing crisis
Posted by mortgage 105 days ago (Editorial)
Mortgage pullback hints of housing crisis
AP Enterprise: Brown's banking regulator opposed financial regulations as industry insider
Posted by mortgage 105 days ago (Editorial)
SACRAMENTO, Calif.
Have Economists Got It Wrong About The U.S.?
Posted by mortgage 108 days ago (Editorial)
Five years ago, Federal Reserve head Ben Bernanke said the housing sector wasn't a major economic concern. In fact, most experts failed to see the looming subprime mortgage crisis that sank the U.S. economy. If they were so wrong about the Great Recession, it's possible they could also be blind to a "Great Recovery."
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