News Topic: Mortgage Debt & Home Equity

Debtors selling houses during a chapter 13 continues to cause conceptual problems for the courts. A recent decision, In re Marsh , from Judge Fenimore in Kansas City is an example. (Hat tip to Bill Rochelle for flagging this decision in his DailyWire ... Read full article

On this Tuesday, the Supreme Court refused to lift a ban on evictions for tenants that the Centers for Disease Control and Prevention recently extended through the end of July. The eviction moratoria is one of a handful of debt pauses put in place by the ... Read full article

The Supreme Court's decision in Collins v. Yellen has garnered a fair amount of attention because it resulted in a change in the leadership at the Federal Housing Finance Agency and largely dashed the hopes of Fannie and Freddie preferred ... Read full article

The Supreme Court ruled today in Collins v. Yellen , a case brought by Fannie Mae and Freddie Mac preferred shareholders that challenged both the constitutionality of the FHFA Director's appointment and the 2012 amendment to Treasury's stock ... Read full article

On May 4, the CFPB issued a report sharing information the agency had gathered about mortgage forbearances and delinquencies. One notable takeaway is that Black and Brown homeowners, as well as low-income homeowners, are very prevalent among those in ... Read full article

I have an op-ed about the Consumer Bankruptcy Reform Act running on CNBC's site. Given that both collection moratoria and benefit extensions keep getting dribbled out in one to three month bites, we will definitely see an expiration of both as the ... Read full article

In the Spring I am teaching a research and writing seminar called Advanced Commercial Law and Contracts. Credit Slips readers have been important resources for project ideas in the past, and I'd appreciate hearing what you have seen out in the world ... Read full article

I have an article out in The American Prospect about How to Start Closing the Racial Wealth Gap . Unlike a lot of writing bemoaning the racial wealth gap, this piece has a concrete reform that could be undertaken on day 1 of a Biden administration without ... Read full article

My new book,  The Great American Housing Bubble:  What Went Wrong and How We Can Protect Ourselves in the Future  is being released on Tuesday by Harvard University Press. The book is co-authored with my long-time collaborator, Wharton real estate ... Read full article

My coauthor Ed Balleisen has co-founded a program on consumer lending of interest to Credit Slips readers. Its initial data collection is particularly useful in documenting the North Carolina experience and its implications for other states. ... Read full article

The final text of the act is now available here.  The foreclosure relief is in Section 4022 and the eviction moratorium is in Section 4024. Mortgage borrowers with federally related loans (FHA, VA, Farmer's Home, Fannie or Freddie) may request 6 ... Read full article

While Congress struggles to figure out the best way to respond to the coronavirus pandemic, it is very apparent that immediate relief measures are necessary, if only to buy time for a more comprehensive approach. Layoffs are already happening and with ... Read full article

The Big Lie just won’t die. The Big Lie, of course, is The Government Made Me Do It theory of the financial crisis, that the housing bubble whose collapse set off the crisis was the product of government policies encouraging affordable home mortgage ... Read full article

Last year the Washington Post covered Mick Mulvaney's South Carolina land deal gone sour . It was a pretty amazing case that is fantastic for teaching purposes. Mick's moves would have made some of the most sophisticated distressed debt funds ... Read full article

Today, Senator Elizabeth Warren unveiled her new plan to reform the consumer bankruptcy system . The plan is simple, yet elegant. It is based on actual data and research (including some of my own with Consumer Bankruptcy Project co-investigators Slipster ... Read full article

Two aspects of the Small Business Reorganization Act of 2019 intrigued me as I looked more closely at this important new twist on Chapter 11 for the other 99%. ... Read full article

CFPB today put out an advance notice of proposed rulemaking to amend the Qualified Mortgage (QM) Rule by letting the "GSE Patch" expire .  What the Bureau is proposing is truly dangerous.  While I haven’t liked some of the Bureau's other ... Read full article

USA Today just came out with an interesting expose about reverse mortgages and their negative impact , especially in low-income, African American, urban neighborhoods (highlighting a few in my backyard here in Chicago). ... Read full article