by Phyllis Rockower | Jul 13, 2013 | Economic News
Most banks initiate loans and then sell them off and merely remain as servicing agents. A portfolio lender holds loans in its own portfolio. The big bank boondoogle in the last few years was caused in part by the massive selling off of bad loans to unsuspecting...
by Phyllis Rockower | May 31, 2013 | Economic News
They say that the rules brought on by the Consumer Financial Protection Bureau go too far in insisting that lenders verify borrowers ability to pay. A new government agency called the Consumer Financial Protection Bureau has been created to protect consumers from...
by Phyllis Rockower | Mar 18, 2013 | Economic News, Uncategorized
The FDIC made clandestine deals with banks to settle cases where the banks mislead everyone by creating and selling bad loans thereby creating the mortgage meltdown. Millions of dollars have been paid out in hush hush deals. Since 2007 471 banks of failed. The FDIC...
by Phyllis Rockower | Jan 31, 2013 | Economic News
Even though credit loan defaults hit new lows, mortgage defaults are once again rising. This is surprising since it had been falling for quite a while. Let’s see what happens. read the...
by Phyllis Rockower | Jan 3, 2013 | Economic News
“The financial services industry, whose leaders had earlier joined a group of other corporate executives pushing for a “fair” solution to the fiscal crisis, is one of the primary beneficiaries of special-interest tax breaks. The active-financing...
by Phyllis Rockower | Jan 2, 2013 | Economic News
Its bad enough the federal government wants to cripple us with onerous regulations. They want to raise our tax rate, capital gains rate and reduce deductions. When you see how the fiscal cliff negotiations come out, make sure you read the fine print. If they agree not...
