Just how effective is the Obama Administration’s effort to help homeowners stave off foreclosure? It’s hard to know, in part because detailed data that could provide part of the answer is not available to the public.
The Home Affordable Modification Program (HAMP) started in February 2009. To date, the $75 billion program has helped about 170,000 homeowners avoid foreclosure by reducing mortgage payments, but the nuts and bolts of how loan modifications are structured, the criteria used to deny and approve modifications, and the documentation used to evaluate the original loans are unknown. The special inspector general ...
Continue readingDodd, Conrad Cleared of Ethics Violations In Countrywide VIP Case
The Senate Ethics Committee released two letters (Dodd, Conrad) today clearing Sens. Chris Dodd and Kent Conrad of ethics violations... View Article
Continue readingWhy Transparency?
One way that transparency can directly affect outcomes is when information is released in ways that preempt bad decisions. In... View Article
Continue readingIn Broad Daylight: The Banks Bought Congress
Budgeting political risk helped Fannie Mae, Freddie Mac, and financial services companies avoid the kind of scrutiny they needed from... View Article
Continue readingPublish the Mortgages on Line
Dan O’Neill (of Everyblock fame) is calling for publication of all mortgages that the government (read “we”) is going to... View Article
Continue readingBailout Bill Lobbying Frenzy
The consideration of the $700 billion bailout bill — now lovingly known as the Authorization for Use of Financial Force... View Article
Continue readingStevens and Disclosure
So, the indictment is in and the charges against Sen. Ted Stevens include seven counts of making false statements on... View Article
Continue readingAnother Call for Mortgage Disclosure
Last month, after Portfolio revealed that Sens. Chris Dodd and Kent Conrad received favorable loan deals from mortgage giant Countrywide,... View Article
Continue readingIn Broad Daylight: Waiting for the 111th Congress
Despite a string of revelations revealing innappropriate home loans, rent prices, and rental arrangements maintained by lawmakers, Congress refuses to... View Article
Continue readingIn Broad Daylight: NYC2DC
Back from PDF Conference in NYC; how is Tom Ridge like Adil Hoxha?; more mortgage disclosures; congressional ethics office empty;... View Article
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