Home › Forums › Housing › “ATTENTION PEOPLE OF PHILADELPHIA – YOU NO LONGER HAVE TO PAY YOUR MORTGAGES! “
- This topic has 100 replies, 16 voices, and was last updated 16 years, 1 month ago by Aecetia.
-
AuthorPosts
-
March 31, 2008 at 7:25 AM #179174March 31, 2008 at 8:19 AM #178731PadreBrianParticipant
If that’s the case Obama/McCain can use the fallout to show what clinton’s words will do.
March 31, 2008 at 8:19 AM #179094PadreBrianParticipantIf that’s the case Obama/McCain can use the fallout to show what clinton’s words will do.
March 31, 2008 at 8:19 AM #179101PadreBrianParticipantIf that’s the case Obama/McCain can use the fallout to show what clinton’s words will do.
March 31, 2008 at 8:19 AM #179110PadreBrianParticipantIf that’s the case Obama/McCain can use the fallout to show what clinton’s words will do.
March 31, 2008 at 8:19 AM #179189PadreBrianParticipantIf that’s the case Obama/McCain can use the fallout to show what clinton’s words will do.
March 31, 2008 at 11:42 AM #178789AnonymousGuestThe banks could start bouncing checks from the city council.
March 31, 2008 at 11:42 AM #179151AnonymousGuestThe banks could start bouncing checks from the city council.
March 31, 2008 at 11:42 AM #179160AnonymousGuestThe banks could start bouncing checks from the city council.
March 31, 2008 at 11:42 AM #179168AnonymousGuestThe banks could start bouncing checks from the city council.
March 31, 2008 at 11:42 AM #179246AnonymousGuestThe banks could start bouncing checks from the city council.
March 31, 2008 at 12:21 PM #178808equalizerParticipantTG,
Philadelphia Ordinance An ordinance banning predatory lending, banning public investment in predatory lenders, and requiring loan counseling for borrowers of high-cost loans was passed by the unanimous vote of the Philadelphia City Council in April 2001. It was overturned by state legislation in June 2001.
A working reseach paper looked into loan laws: "State and Local Anti-Predatory Lending Laws: The Effect of Legal Enforcement Mechanisms" http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1005423 Very detailed analysis shows that laws have some effect, but do NOT drive out supply. North Carolina's tough law did not reduce supply overall, for people under 50K, yes it did, for people over 50K income, supply went up.
There was a story in WSJ last month about parties to blame for the loan mess. A few members of Congress tried for some regulation of mortgage industry as did some states. The housing lobby killed all bills and the one that did pass in one state, the lending industy BLACKMAILED the state to repeal the bill. So, this bill may be junk, but it happened becuase the lobby killed good bills years back. http://online.wsj.com/article/SB120406115972594515.html
GA had the tough anti-predatory law that would place buyer of predatory loan at risk (aks stolen property) and S&P and Fitch blackmailed the state so they watered it down. Funny how S&P and Fitch were WHOLLY resposible for this subprime mess, yet they interefered with state law that would likely have reduced the mess in the first place. http://econospeak.blogspot.com/2008/01/regulatory-neglect-and-subprime.html
March 31, 2008 at 12:21 PM #179172equalizerParticipantTG,
Philadelphia Ordinance An ordinance banning predatory lending, banning public investment in predatory lenders, and requiring loan counseling for borrowers of high-cost loans was passed by the unanimous vote of the Philadelphia City Council in April 2001. It was overturned by state legislation in June 2001.
A working reseach paper looked into loan laws: "State and Local Anti-Predatory Lending Laws: The Effect of Legal Enforcement Mechanisms" http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1005423 Very detailed analysis shows that laws have some effect, but do NOT drive out supply. North Carolina's tough law did not reduce supply overall, for people under 50K, yes it did, for people over 50K income, supply went up.
There was a story in WSJ last month about parties to blame for the loan mess. A few members of Congress tried for some regulation of mortgage industry as did some states. The housing lobby killed all bills and the one that did pass in one state, the lending industy BLACKMAILED the state to repeal the bill. So, this bill may be junk, but it happened becuase the lobby killed good bills years back. http://online.wsj.com/article/SB120406115972594515.html
GA had the tough anti-predatory law that would place buyer of predatory loan at risk (aks stolen property) and S&P and Fitch blackmailed the state so they watered it down. Funny how S&P and Fitch were WHOLLY resposible for this subprime mess, yet they interefered with state law that would likely have reduced the mess in the first place. http://econospeak.blogspot.com/2008/01/regulatory-neglect-and-subprime.html
March 31, 2008 at 12:21 PM #179180equalizerParticipantTG,
Philadelphia Ordinance An ordinance banning predatory lending, banning public investment in predatory lenders, and requiring loan counseling for borrowers of high-cost loans was passed by the unanimous vote of the Philadelphia City Council in April 2001. It was overturned by state legislation in June 2001.
A working reseach paper looked into loan laws: "State and Local Anti-Predatory Lending Laws: The Effect of Legal Enforcement Mechanisms" http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1005423 Very detailed analysis shows that laws have some effect, but do NOT drive out supply. North Carolina's tough law did not reduce supply overall, for people under 50K, yes it did, for people over 50K income, supply went up.
There was a story in WSJ last month about parties to blame for the loan mess. A few members of Congress tried for some regulation of mortgage industry as did some states. The housing lobby killed all bills and the one that did pass in one state, the lending industy BLACKMAILED the state to repeal the bill. So, this bill may be junk, but it happened becuase the lobby killed good bills years back. http://online.wsj.com/article/SB120406115972594515.html
GA had the tough anti-predatory law that would place buyer of predatory loan at risk (aks stolen property) and S&P and Fitch blackmailed the state so they watered it down. Funny how S&P and Fitch were WHOLLY resposible for this subprime mess, yet they interefered with state law that would likely have reduced the mess in the first place. http://econospeak.blogspot.com/2008/01/regulatory-neglect-and-subprime.html
March 31, 2008 at 12:21 PM #179188equalizerParticipantTG,
Philadelphia Ordinance An ordinance banning predatory lending, banning public investment in predatory lenders, and requiring loan counseling for borrowers of high-cost loans was passed by the unanimous vote of the Philadelphia City Council in April 2001. It was overturned by state legislation in June 2001.
A working reseach paper looked into loan laws: "State and Local Anti-Predatory Lending Laws: The Effect of Legal Enforcement Mechanisms" http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1005423 Very detailed analysis shows that laws have some effect, but do NOT drive out supply. North Carolina's tough law did not reduce supply overall, for people under 50K, yes it did, for people over 50K income, supply went up.
There was a story in WSJ last month about parties to blame for the loan mess. A few members of Congress tried for some regulation of mortgage industry as did some states. The housing lobby killed all bills and the one that did pass in one state, the lending industy BLACKMAILED the state to repeal the bill. So, this bill may be junk, but it happened becuase the lobby killed good bills years back. http://online.wsj.com/article/SB120406115972594515.html
GA had the tough anti-predatory law that would place buyer of predatory loan at risk (aks stolen property) and S&P and Fitch blackmailed the state so they watered it down. Funny how S&P and Fitch were WHOLLY resposible for this subprime mess, yet they interefered with state law that would likely have reduced the mess in the first place. http://econospeak.blogspot.com/2008/01/regulatory-neglect-and-subprime.html
-
AuthorPosts
- You must be logged in to reply to this topic.