Barney Frank Eyes Mortgage Cramdown Revival

Congress Eyes Mortgage Lenders 1:43 PM ET Mon, 22 Oct 2007 House Financial Services Committee Chairman Barney Frank is holding hearings this week to look at changing the way mortgage lenders do.

All eyes of the bankruptcy world are fixated on a single portion of President Obama’s "Homeowner Affordability and Stability Plan" he presented last week, the Chapter 13 mortgage cramdown. But he talked about that for just one three-sentence paragraph towards the end of his 42-paragraph speech, and it takes up just one sentence of the dense 3.

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The Mortgage Crisis was created by Government pure and simple. To say that Wall Street caused the problem is completely clueless and is like saying the tail wags the dog. Fannie and Freddie funneled all those mortgage to Wall Street in the first place. Investment Banks do not give out mortgage loans.

The Mortgage Bankers Association of America noted that new applications declined by 0.4% in the week ending May 10, with declines in applications for both purchase and refinance mortgages. From the 1930s until the 1960s Fannie Mae had the monopoly on this secondary mortgage market.

POLITICAL CONTRIBUTIONS TO BARNEY FRANK. WHO’S THE BIG BAD WOLF? What the numbers below show is that the dog and pony show that Mr. Frank put on in the hearings for legislations for protecting the little guy against the big bad mortgage brokers was all payback for the contributions he’s received from the big banks.

McCain's Early Recognition of Fannie/Freddie Crisis Has the mortgage forgiveness debt relief Act Expired? Although the original Mortgage Forgiveness Debt Relief Act was only in effect through 2013, President Obama extended it through the end of 2016. Additionally, a group of U.S. Senators has introduced a bipartisan bill to extend these provisions. However, it is unclear whether President Trump.

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Barney Frank Threatens to revive mortgage bankruptcy plan. WASHINGTON — House Financial Services Chairman Barney Frank (D., Mass.) threatened to revive legislation to allow bankruptcy judges to rewrite the terms of troubled mortgage loans. Mr. Frank on Wednesday warned mortgage servicers that they would encourage support for the measure,

Chart of the Day: Did Barney Frank Cause the Housing Crisis?. Now that Rep. Barney Frank has announced his decision not to run for another term in Congress, the world is once again revisiting.

SEC passes CEO Pay Ratio Rule on 3-2 partisan vote Public companies must disclose the ratio. CEO pay to median employee pay under a rule adopted Wednesday by the Securities and Exchange Commission. The rule, mandated by the Dodd-Frank Wall Street.