New Efforts to Help Struggling Homeowners
Following the 2008 housing crisis, banks across the country foreclosed on borrowers. To speed up the process, some lenders used fake signatures or didn’t bother to verify the accuracy of loan documents. A pending multi-billion dollar settlement between the banks and 40 states would ban so-called “robo-signing” and require banks to lower principal payments for “underwater” mortgages. Consumer advocates worry the settlement would not go far enough. Business groups say the market would do a better job clearing foreclosed homes. Diane and her guests discuss efforts to help struggling homeowners.
national economics reporter, The Washington Post
resident fellow, American Enterprise Institute; former executive vice president and chief credit officer for Fannie Mae
spokeswoman, Center for Responsible Lending; ethics teacher at Georgetown University’s graduate program in real estate studies.