NPR Runs Bank of America PR Piece, Neglects to Explain Why Bank is Donating Foreclosed Homes

By: Friday August 24, 2012 8:55 am

NPR ran a sappy story yesterday about Bank of America donating foreclosed homes, which got a critical response in their comment section. Here’s a representative sample of the comments: This was a poorly researched, uncritical story by NPR. Why is it good thing to dispossess 2500 families from their homes and then give the houses [...]

Camo-Washing Extends to Housing Regulators

By: Thursday June 21, 2012 9:38 am

I’ve coined the phrase “camo-washing” to describe the persistent dynamic where banks bend over backwards to recognize and compensate for mistakes made in the mortgage and foreclosure process relating to military families, while everyone else gets to twist in the wind. Practically every big bank has made good in wildly extreme ways to violations of [...]

Administration Announces Not-New New Housing Relief Programs

By: Tuesday March 6, 2012 11:15 am

I’ll get to the President’s press conference (still ongoing) in a moment, but at the top of it, he announced a series of “new” measures on housing. I put “new” in quotes because I don’t see how these are particularly new measures. Today, the President is announcing two steps the Administration is taking to support [...]

How HAMP Incentives Can Turn the Foreclosure Fraud Settlement Into a Money-Maker for the Banks

By: Saturday February 11, 2012 11:03 am

Because there’s no actual term sheet for the foreclosure fraud deal it’s virtually impossible to assess it, and every group who released a press statement calling it “a drop in the bucket” or a “down payment” or a “first step” should withdraw before the facts are known. But we should be talking about how the [...]

5,000 Active-Duty Military Foreclosures Reviewed for Violations of Law

By: Tuesday November 29, 2011 8:15 am

I have been remiss in not writing more about the Office of Comptroller of the Currency’s efforts to “review” foreclosures and check for various errors and wrongful actions. I simply don’t believe they will have much of an impact. Most of the reviews are being carried out by “independent” entities¬† selected and paid for by [...]

GAO Report Calls Federal Oversight of Mortgage Servicers “Limited” and “Fragmented”

By: Friday May 6, 2011 11:59 am

The Government Accountability Office released a report requested by several Democratic members of Congress about documentation problems in mortgage foreclosures. If you’re just coming to the question of foreclosure fraud, it provides a pretty good overview. If you’re aware of the issues, it’s good to have it all in one place. The GAO does say [...]

Camo-Washing: To the Banks, What’s Good for Military Families Isn’t Good for Everyone Else

By: Thursday April 28, 2011 7:25 am

I have a piece in The American Prospect on “camo-washing”, the practice of the banks to boost their public image by taking care of wrongful military foreclosures and violations of the Servicemembers Civil Relief Act, while ignoring the much larger foreclosure crisis with their civilian borrowers. This is something I’ve been writing about here for [...]

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