Toronto After years of big banks essentially flipping off their customers and borrowers fighting foreclosures in no small measure because banks were more than willing to take the money and run on the government’s bailout, but were heedless of the damage they were doing to their borrowers’ lives and communities, Gretchen Morgenston in the New York …
Tag: housing
Some Affordability Finally Coming to Mortgage Lending but Is Fraud Protection Enough?
New Orleans The new Consumer Financial Protection Bureau (CFPB) released its outline of new mortgage lending rules that will take effect in 2014. The new rules are interesting, though in some ways not reassuring. After years of arguing with big banks and subprime houses that “affordability” had to be the key test regardless of all …
Governments and Housing: Mortgage Reform in the US and Formalization in Quito Norte
Quito Housing was on my mind. I spent hours yesterday in a pickup riding the steep roads and byways of Quito Norte with our team and local barrio leaders in the area, four up front and three in the back. We traveled more than a dozen kilometers up, down and around the mountain sides, often with …