Archive for February, 2013

By February 21, 2013 0 Comments Read More →

Oregonian: Foreclosure Mediation Can Work, Urges Quick Passage

Today the Oregonian urged legislators to quickly pass SB 558, a bipartisan foreclosure mediation fix bill, noting that “every day legislation languishes in committee delays relief for homeowners who are struggling to stay in their homes as the housing market and economy slowly recover.” As the editorial notes, two of the lenders who together have […]

Posted in: News and Events
Rebutting the Myth of the Deadbeat Debtor
By February 20, 2013 2 Comments Read More →

Rebutting the Myth of the Deadbeat Debtor

Find any media story on the foreclosure crisis, scroll down to the comment section, and start reading. You soon will discover the man on the street, who believes that behind every foreclosure is a deadbeat looking for a free ride. I call that the “deadbeat debtor” argument, and it’s baseless. By the time many homeowners […]

Posted in: Features
By February 18, 2013 0 Comments Read More →

The Second Mortgage Shell Game and Other Failings of the National Mortgage Settlement

Curious how the National Settlement Mortgage is playing out in the real world? Check out the thoughtful op-ed that ran today in the New York Times about the second mortgage “shell game” that lenders are playing. In short, while the settlement promised principal forgiveness and loan modifications for troubled borrowers, lenders instead have focused on […]

Posted in: News and Events
By February 18, 2013 0 Comments Read More →

Oregonian: Legislature Asked to Expand Foreclosure Mediation Program

On Sunday, the Oregonian ran an article about the low numbers of foreclosure mediations that have taken place since a new law went into effect last July and bills now pending before the Legislature to fix the program. The paper did an excellent job summing up the problem: lenders (other than US Bank) have avoided […]

Posted in: News and Events
By February 18, 2013 1 Comments Read More →

US Bank Says Foreclosure Mediation Program is Working in Oregon

In the past few years, large national banks have gotten a terrible reputation, and they have earned every bit of it. But US Bank, one of the top residential lenders in Oregon, seems to be aiming for a higher standard, one in which the bank serves both the community and shareholders. The most timely example […]

Posted in: News and Events
By February 12, 2013 0 Comments Read More →

Evil Ed Blocks Freddie’s Plan to Save Taxpayers Millions on Force-Placed Insurance

Even the bankers are asking why. American Banker is reporting that the Federal Housing Finance Agency, the federal agency overseeing Fannie Mae and Freddie Mac, has killed Freddie’s plan to slash force-placed insurance rates by 30%, which would save homeowners and taxpayers millions of dollars. Perhaps more shocking is the reason why: Freddie apparently has […]

Posted in: News and Events
By February 7, 2013 1 Comments Read More →

45 House Members Ask Obama to Replace “Evil Ed” For Taxpayers’ Sake

Ed DeMarco, the Acting Director of the FHFA, a federal agency that oversees the conservatorship of Fannie Mae and Freddie Mac, has been the deserving target of scorn and ridicule for the past few years. Now he is the target of Congressional calls for his replacement. For years, Evil Ed has consistently blocked attempts to […]

Posted in: News and Events
Oregon’s Mediation Service Provider Dissolves: Does It Really Matter?
By February 7, 2013 0 Comments Read More →

Oregon’s Mediation Service Provider Dissolves: Does It Really Matter?

Over the past week, a number of stories have appeared about the dissolution of the Collins Center for Public Policy, a Florida non-profit that has served as the mediation service provider for Oregon’s foreclosure mediation program. The important question is: does it matter? The answer, simply put, is: not really. In 1988, former Florida governor […]

Posted in: Features