Bankruptcy Blogs

Usury Laws Are Dead. Long Live the New Usury Law. The CFPB's Ability to Repay Mortgage Rule

01/11/13

The CFPB has come out with its long awaited qualified
mortgage (QM) rulemaking under Title XIV of the Dodd-Frank Act.  The QM rulemaking is by far the most important
CFPB action to date and will play a crucial role in determining the shape of
the US housing finance market going forward. The QM rulemaking also rep

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The Broke and the Beautiful: Downton Abbey Edition

01/11/13

This week on The Broke and the Beautiful, “Downton Abbey’s” latest plotline has real roots in bankruptcy, and Starbucks is protesting Patrick Dempsey’s bid for Tully’s coffee shops. Broke also delves into the conundrum faced by designers who skyrocket to fame after creating first-ladies’ formalwear.

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Only Surprise in Chase CRA Downgrade - What Took So Long?

01/11/13

By downgrading the CRA rating of JPMorgan Chase, the OCC demonstrated it is capable of holding a major bank accountable for a deplorable record of serving the credit needs of low- and moderate-income communities.

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QM Cements the Sorry State of Mortgages for Years to Come

01/11/13

The CFPB's final rule exacerbates our dependence on the GSEs and FHA, potentially harms a large swath of potential borrowers and severely handicaps the market's ability to effectively serve customers.

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Real-Life Bankruptcy Figures Into ‘Downton Abbey’ Plot

01/11/13
European Pressphoto Agency
The cast and crew of “Downton Abbey” at the 2011 Emmy Awards in Los Angeles.

The noble residents of “Downton Abbey” would do w

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The Daily Docket: MF Global Creditors File Liquidation Plan

01/11/13

A group of MF Global creditors on Thursday filed a comprehensive plan of liquidation for the failed brokerage firm. Read the Daily Bankruptcy Review article here.

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Amex's Ax, Qualified Mortgage Misery, the Fed's Fuzzy Crystal Ball

01/11/13

Receiving Wide Coverage ...

Amex Swings the Ax: The tectonic shifts that are reshaping finance struck American Express (AXP) late Thursday when it released its fourth quarter earnings ahead of schedule, along with the bombshell that it's planning to eliminate 5,400 jobs, or 8.5% of its staff. The Wall Street Journal describes the job cuts as Amex's biggest retrenchment in a decade. Most of the reductions will involve the New York-based company's (sorry, Mayor Bloomberg) travel...

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Shorter-Term Mortgages Can Help Rekindle Homebuying - Responsibly

01/11/13

There must be a concerted effort to open the way to successful homeownership to more Americans. This should include encouraging shorter-term mortgages so low down payment borrowers build equity faster.

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Starbucks: Dempsey Unfairly Charmed Tully’s Auctioneers

01/11/13
Associated Press
Patrick Dempsey

Losers at the bankruptcy auction for the Tully’s coffee shops are asking the court to reject the winning $9.1 million bid

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