Posts Tagged “Lawmaker”

News Sources wrote an interesting post today on
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Why hasn’t Washington offered any aid to help the beleaguered mortgage insurance (MI) industry? Lawmakers have thrown a bone to nearly every other sector of the housing and mortgage-related industries, but not to mortgage insurers. Especially at a time when credit requirements are so stringent and when most lenders are requiring a maximum downpayment, has not one lawmaker on Capitol Hill even considered propping up this industry that’s on the brink? Note: MI policies help make low-downpa

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News Sources wrote an interesting post today on
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It would forbid them to collect money from homeowner clients before the client’s mortgage is modified and monthly payments are reduced. Consumer advocates and a Santa Barbara lawmaker are urging Gov. Arnold Schwarzenegger to sign a bill that would protect homeowners from predatory firms that collect advance payments after bragging about their ability to persuade lenders to lower monthly mortgage …

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News Sources wrote an interesting post today on
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A key House lawmaker wants to make credit rating agencies — which have been widely criticized for failing to give investors adequate warning of the risks in subprime mortgage securities that triggered the financial crisis — responsible for each other’s assessments by holding them collectively liable for inaccuracies.The Associated Press reported that a new draft bill by the lawmaker, Representative Paul Kanjorski, a Pennsylvania Democrat, includes a plan meant to address what critics contend is

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News Sources wrote an interesting post today on
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The Obama administration ’s vision for revamping the nation’s financial regulatory system could face significant revisions in the Senate, where proposed reform legislation departs from the White House proposal on several key points, according to staff members, lobbyists and a lawmaker briefed on the plans. A bill taking shape in the Senate Banking Committee could give the Federal Reserve far less authority than the administration sought in the reform proposal it unveiled in June. Senators on

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News Sources wrote an interesting post today on
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Posted on Tuesday, 11 of August , 2009 at 12:54 pm SUFFOLK COUNTY—A former Suffolk County legislator is among four defendants arraigned Tuesday on grand larceny, forgery, conspiracy and fraud charges in a 130-count indictment alleging approximately $82 million in mortgage fraud involving 60 houses, more than 50 of them located in the Town of Southampton. Suffolk District Attorney Thomas Spota said former legislator George Guldi and 16 others named in the indictment participated in the schemes d

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