Entries by Paul Kiel

As Regulators and Banks Review Foreclosures, We’ll Be Watching

The regulators don’t ”have a good track record at identifying or fixing servicer misbehavior,” said Diane Thompson of the National Consumer Law Center. Palm Coast, FL – April 21, 2011 – The country’s bank regulators are launching an unprecedented plan to undo some of the damage done by mortgage servicers, compensating victims of shoddy or […]

Dems: Obama Broke Pledge to Force Banks to Help Homeowners

Instead, the administration has relied on a voluntary program with few sticks, that simply offers banks incentives to modify mortgages. Palm Coast, FL – February 4, 2011 – Before he took office, President Obama repeatedly promised voters and Democrats in Congress that he’d fight for changes to bankruptcy laws to help homeowners—a tough approach that […]

Govt’s Loan Mod Program Crippled by Lax Oversight and Deference to Banks

$75 billion foreclosure prevention program has been weakened, perhaps fatally, by lax oversight and a posture of cooperation – rather than enforcement – with the nation’s biggest banks. Palm Coast, FL – January 27, 2011 – With millions of homeowners still struggling to stay in their homes, the Obama administration’s $75 billion foreclosure prevention program […]