New Efforts to Help Struggling Homeowners

New Efforts to Help Struggling Homeowners

The Obama administration, state officials and consumer advocates lay out terms for mortgage relief: Diane and her panel examine the latest 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.

Guests

Brady Dennis

national economics reporter, The Washington Post

Ed Pinto

resident fellow, American Enterprise Institute; former executive vice president and chief credit officer for Fannie Mae

Kathleen Day

spokeswoman, Center for Responsible Lending; ethics teacher at Georgetown University’s graduate program in real estate studies.

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