Category: Regulation

Fundamental reform arrives, step by careful step

25 July, 2008 (09:19) | GSEs, Regulation, Subprime, US News | No comments

 
“When you’ve got them by the wallets, their hearts and minds will follow.”
– Not said by Nixon presidential aide Chuck Colson
 
Even as the American housing financial ecosystem continues to distribute the strain of rolling losses, the ecosystem also continues to adapt rapidly.  Ever since the St. Patrick’s Day coup, where the Federal Reserve and Treasury […]

Seller-paid down payments: fundamentally flawed

25 June, 2008 (08:14) | Hard equity, Legislation and policy, Regulation, Theory, US News | No comments

There are times when being right is no consolation, it merely makes you angry.
 

Sometimes you wish you hadn’t been so right
 
A year ago, in a post entitled 3% altruistic, I wrote about the FHA’s ‘non-profit-donated’ down-payment program
It sounds like a misprint — a non-profit that gives low-income borrowers money for the down payment on […]