CreditSlips

Welcoming Barry Scholnick

09/30/12

At the Boulder Conference of Consumer Financial Decision Making, Professor Barry Scholnick of the University of Alberta presented some fantastic research about the influence of neighbors on the decision to file bankruptcy. Scholnick's findings with Canadian data parallel similar, albeit older, findings in the United States.

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Transactional Attorney Ethics

09/28/12

The responses to my post on Scott Brown's activities as a real estate attorney make me think that I need to tee up a broader issue:  the role of attorneys in the financial crisis.  

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The Entertainment and Sports Programming Network Looks at Bankrupt Athletes

09/28/12

In its acclaimed "30 for 30" series, ESPN is airing a show about professional athletes who go bust after leaving their sport. From ESPN's web site (which also has a trailer for the show):

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Foreclosure Crisis Year Six

09/28/12

While industry and government news releases emphasize the
declining rates of delinquency and foreclosure, the declines remain agonizingly
slow.  Yes, serious defaults on
mortgages are down from their peak in 2010.  On the other hand, there have been 4.5 million completed
foreclosure sales since 2007 and there are still between 4 and 5 million
mortgages delinquent

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Did Scott Brown Facilitate Predatory Loans?

09/27/12

There's no question that we at the Slips take a particular interest in the Massachusetts Senate race. But usually we don't have much to say about it. Still, something Scott Brown said today struck me as rather significant--much more so than a lot of the things that have been covered in the media about the Senate race. 

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FHFA punishes states

09/26/12

My comments on the FHFA mortgage fee increase for NY, NJ, FL, IL and CT, here at Consumer Law & Policy.

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Means Test Fail

09/25/12

As has been widely reported, the football coach of the University of Arkansas Razorbacks, John L. Smith, has filed chapter 7 bankruptcy. ESPN summarized his financial circumstances:

Arkansas coach John L. Smith is trying to wipe away $25.7 million in debt in
bankruptcy court and hang onto $1.2 million in retirement accounts and
some personal property . . . .

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One life, all I need

09/20/12

I weigh in on the possible chapter 11 implications of the many firms rushing to issue as much debt as they possibly can, over at Dealbook.

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Belize Update

09/20/12

For those of you who read my Dealbook column last month, Alphaville provides an update.

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Mortgage Market 2011 - Not a Pretty Picture

09/19/12

The annual Federal Reserve report on Home Mortgage Disclosure Act (HMDA) data for 2011 paints a bleak picture.  Despite interest rates at or below 4%,
mortgage lending volume continued its four-year decline.  The drop in mortgage lending was
particularly steep for minority home buyers, and in distressed neighborhoods.  More than 40% of home purchase loans that were made were backed by government (FHA or VA) insurance. 
Overall mortgage denial rates were 31% for black ap

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