Download or read book Federal Housing Administration Decline in the Agency s market Share Was Associated with Product and Process Developments of Other Mortgage market participants written by United States. Government Accountability Office and published by DIANE Publishing. This book was released on 2007 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Publisher: In the wake of the most significant financial crisis since the Great Depression, the President signed into law on May 20, 2009, the Fraud Enforcement and Recovery Act of 2009, creating the Financial Crisis Inquiry Commission. The Commission was established to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." The 10 members of the bi-partisan Commission, prominent private citizens with significant experience in banking, market regulation, taxation, finance, economics, housing, and consumer protection, were appointed by Congress on July 15, 2009. The Chair, Phil Angelides, and Vice Chair, Bill Thomas, were selected jointly by the House and Senate Majority and Minority Leadership. The FCIC is charged with conducting a comprehensive examination of 22 specific and substantive areas of inquiry related to the financial crisis. These include: fraud and abuse in the financial sector, including fraud and abuse towards consumers in the mortgage sector; Federal and State financial regulators, including the extent to which they enforced, or failed to enforce statutory, regulatory, or supervisory requirements; the global imbalance of savings, international capital flows, and fiscal imbalances of various governments; monetary policy and the availability and terms of credit; accounting practices, including, mark-to-market and fair value rules, and treatment of off-balance sheet vehicles; tax treatment of financial products and investments; capital requirements and regulations on leverage and liquidity, including the capital structures of regulated and non-regulated financial entities; credit rating agencies in the financial system, including, reliance on credit ratings by financial institutions and Federal financial regulators, the use of credit ratings in financial regulation, and the use of credit ratings in the securitization markets; lending practices and securitization, including the originate-to-distribute model for extending credit and transferring risk; affiliations between insured depository institutions and securities, insurance, and other types of nonbanking companies; the concept that certain institutions are 'too-big-to-fail' and its impact on market expectations; corporate governance, including the impact of company conversions from partnerships to corporations; compensation structures; changes in compensation for employees of financial companies, as compared to compensation for others with similar skill sets in the labor market; the legal and regulatory structure of the United States housing market; derivatives and unregulated financial products and practices, including credit default swaps; short-selling; financial institution reliance on numerical models, including risk models and credit ratings; the legal and regulatory structure governing financial institutions, including the extent to which the structure creates the opportunity for financial institutions to engage in regulatory arbitrage; the legal and regulatory structure governing investor and mortgagor protection; financial institutions and government-sponsored enterprises; and the quality of due diligence undertaken by financial institutions. The Commission is called upon to examine the causes of major financial institutions which failed, or were likely to have failed, had they not received exceptional government assistance. In its work, the Commission is authorized to hold hearings; issue subpoenas either for witness testimony or documents; and refer to the Attorney General or the appropriate state Attorney General any person who may have violated U.S. law in relation to the financial crisis.
Download or read book Home Mortgages written by William B. Shear and published by DIANE Publishing. This book was released on 2009-12 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: H.R. 3915 (2007), a bill introduced, but not enacted by the 110th Congress, was intended to reform mortgage lending practices to prevent a recurrence of problems in the mortgage market, particularly in the nonprime market segment. The bill would have set minimum standards for all mortgages (e.g., reasonable ability to repay) and created a "safe harbor" for loans that met certain requirements. This report discusses: (1) the proportions of recent nonprime loans that likely would have met and not met the bill's safe harbor requirements and factors influencing the performance of these loans; and (2) relevant research and the views of mortgage industry stakeholders concerning the potential impact of key provisions of the bill on the availability of mortgage credit.
Download or read book Fair Lending written by Orice Williams Brown and published by DIANE Publishing. This book was released on 2010 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA) -- the "fair lending laws" -- prohibit discrimination in lending. Responsibility for their oversight is shared among three enforcement agencies -- HUD, the FTC, and Dept. of Justice -- and five depository institution regulators -- the FDIC, the Fed. Reserve, Nat. Credit Union Admin., Office of the Comptroller of the Currency, and the Office of Thrift Supervision. This report examines: (1) data used by agencies and the public to detect potential violations and options to enhance the data; (2) fed. oversight of lenders that are identified as at heightened risk of violating the fair lending laws; and (3) recent cases involving fair lending laws and associated enforcement challenges. Illus.
Download or read book Federal Housing Administration written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2018-01-17 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Federal Housing Administration: Decline in the Agency's Market Share Was Associated with Product and Process Developments of Other Mortgage Market Participants
Download or read book Dissent from the Majority Report of the Financial Crisis Inquiry Commission written by Peter J. Wallison and published by AEI Press. This book was released on 2011-05-16 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: Peter J. Wallison is the only member of the Financial Crisis Inquiry Commission (FCIC) to release a formal dissent to the FCICOs official report on the causes of the financial crisis. Wallison, codirector of financial policy studies at the American Enterprise Institute, argues that the FCICOs report fails to address the cause of the deterioration in mortgage underwriting standards that led to the housing bubble widely accepted as the key factor in destabilizing the American economy. Wallison's Dissent to the Majority Report of the Financial Crisis Inquiry Commission reveals that government-mandated subprime loans, not greedy investors, were the force behind the deterioration in underwriting standards. This dissent is a must-read for anyone seeking to understand the causes of the financial crisis_and to prevent future economic collapse.
Download or read book The Financial Crisis Inquiry Report written by United States. Financial Crisis Inquiry Commission and published by Government Printing Office. This book was released on 2010 with total page 668 pages. Available in PDF, EPUB and Kindle. Book excerpt: and the use of credit ratings in the securitization markets; lending practices and securitization, including the originate-to-distribute model for extending credit and transferring risk; affiliations between insured depository institutions and securities, insurance, and other types of nonbanking companies; the concept that certain institutions are 'too-big-to-fail' and its impact on market expectations; corporate governance, including the impact of company conversions from partnerships to corporations; compensation structures; changes in compensation for employees of financial companies, as compared to compensation for others with similar skill sets in the labor market; the legal and regulatory structure of the United States housing market; derivatives and unregulated financial products and practices, including credit default swaps; short-selling; financial institution reliance on numerical models,
Download or read book Hidden in Plain Sight written by Peter J. Wallison and published by Encounter Books. This book was released on 2016-03-29 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2008 financial crisis—like the Great Depression—was a world-historical event. What caused it will be debated for years, if not generations. The conventional narrative is that the financial crisis was caused by Wall Street greed and insufficient regulation of the financial system. That narrative produced the Dodd-Frank Act, the most comprehensive financial-system regulation since the New Deal. There is evidence, however, that the Dodd-Frank Act has slowed the recovery from the recession. If insufficient regulation caused the financial crisis, then the Dodd-Frank Act will never be modified or repealed; proponents will argue that doing so will cause another crisis. A competing narrative about what caused the financial crisis has received little attention. This view, which is accepted by almost all Republicans in Congress and most conservatives, contends that the crisis was caused by government housing policies. This book extensively documents this view. For example, it shows that in June 2008, before the crisis, 58 percent of all US mortgages were subprime or other low-quality mortgages. Of these, 76 percent were on the books of government agencies such as Fannie Mae and Freddie Mac. When these mortgages defaulted in 2007 and 2008, they drove down housing prices and weakened banks and other mortgage holders, causing the crisis. After this book is published, no one will be able to claim that the financial crisis was caused by insufficient regulation, or defend Dodd-Frank, without coming to terms with the data this book contains.
Download or read book The American Mortgage System written by Susan M. Wachter and published by University of Pennsylvania Press. This book was released on 2011-05-31 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: Successful home ownership requires the availability of appropriate mortgage products. In the years leading up to the collapse of the housing market, home buyers frequently accepted mortgages that were not only wrong for them but catastrophic for the economy as a whole. When the housing market bubble burst, so did a cornerstone of the American dream for many families. Restoring the promise of this dream requires an unflinching inspection of lending institutions and the right tools to repair the structures that support solid home purchases. The American Mortgage System: Crisis and Reform focuses on the causes of the housing market collapse and proposes solutions to prevent another rash of foreclosures. Edited by two leaders in the field of real estate and finance, Susan M. Wachter and Marvin M. Smith, The American Mortgage System examines key elements of the mortgage meltdown. The volume's contributors address the influence of the Community Reinvestment Act, which is often blamed for the crisis. They uncover how the government-sponsored enterprises Fannie Mae and Freddie Mac invested outside the housing market with disastrous results. They present surprising information about low-income borrowers and the strengths of local banks. This collection of thoughtful studies includes extensive analysis of loan practices and the creation of unstable mortgage securities, presenting data largely unavailable until now. More than a critique, The American Mortgage System offers solutions to the problems facing the future of American home ownership, including identifying asset price bubbles, calculating risk, and preventing discrimination in lending. Measured yet timely and by turns provocative, The American Mortgage System provides a careful assessment of a troubled but indispensable part of the economic and social structure of the United States. This book is a sound investment for economists, urban planners, and all who shape public policy.
Download or read book Principles of Housing Finance Reform written by Susan M. Wachter and published by University of Pennsylvania Press. This book was released on 2016-09-23 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nearly a decade after the housing market's collapse triggered the Great Recession, members of both sides of the political aisle are calling for reform. Principles of Housing Finance Reform lays out a roadmap for reforms for a new housing finance system to achieve liquidity, access, and sustainability.
Download or read book FHA Modernization Act of 2007 written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2007 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economie Internationale written by and published by . This book was released on 2010 with total page 678 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Federal Housing Administration Proposed Legislative Changes Would Affect Borrower Benefits and Risks to the Insurance Funds written by and published by DIANE Publishing. This book was released on with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book California Management Review written by and published by . This book was released on 2008 with total page 696 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Modernization of Federal Housing Administration Programs written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2009 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Federal Housing Administration Modernization Proposals Would Have Program and budget Implications and Require Continued Improvements in Risk Management written by United States. Government Accountability Office and published by DIANE Publishing. This book was released on 2007 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Change for America written by Mark J. Green and published by Basic Books (AZ). This book was released on 2009-01-01 with total page 706 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contributors representing two of the nation's most widely respected think tanks provide an agency-by-agency blueprint for building a new administration and rebuilding America.
