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Two Tales of New Mortgage Rules

March 30, 2011
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Two Tales of New Mortgage Rules

The Federal Deposit Insurance Corporation’s board voted for new mortgage rules yesterday mandated by the Dodd-Frank Act, the banking reform law passed last July. The new rules will increase credit risk retention requirements for mortgage lenders to 5 percent—though it gives them some wiggle room on what constitutes “retention.” The rule would be suspended...
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Posted in The News Hole | 2 Comments »

Taylor Bean, TARP, the FDIC and You

August 5, 2009
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Strange doings over the last few days in Central Florida have put about 10,000 Maryland homeowners in doubt about where to send their mortgage checks. But the real trouble is much bigger than that. Here’s a rundown on who, what, where, how, and maybe why: 1. Because of bad mortgage lending, mostly in Florida,...
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Posted in Crash Course | 1 Comment »

FDIC v. Citi?

June 5, 2009
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The Wall Street Journal’s Damian Paletta, citing “people familiar with the matter,” writes of a showdown between FDIC Chief Sheila Bair and CitiGroup CEO Vikram Pandit. Basically, if the story is to be believed, Bair is the only federal regulator who is pushing to rein in the giant bank—and to ditch its CEO. It...
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Posted in Crash Course | No Comments »