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Adr's Place In Foreclosure: Remedying The Flaws Of A Securitized Housing Market, Lydia Nussbaum
Adr's Place In Foreclosure: Remedying The Flaws Of A Securitized Housing Market, Lydia Nussbaum
Scholarly Works
Millions of Americans lost their homes during the foreclosure crisis, an unprecedented disaster still plaguing local and national economies. A primary factor contributing to the crisis has been the failure of conventional foreclosure procedures to account for the new realities of securitization and the secondary mortgage market, which transformed the traditional borrower-lender relationship. To compensate for the shortcomings of conventional foreclosure procedures and stem the tide of residential foreclosure, state and local governments turned to ADR processes for a solution. Some foreclosure ADR programs, however, have greater potential to avoid foreclosures than others. This Article comprehensively examines the key components …
The Structural Causes Of Mortgage Fraud, Jim Smith
The Structural Causes Of Mortgage Fraud, Jim Smith
Scholarly Works
Mortgage fraud, often a violation of federal and state criminal statutes, covers a number of different types of behavior, all of which have the common denominator of conduct that has the intent or effect of impairing the value of residential mortgage loans. Mortgage fraud has become prevalent over the past decade and shows no signs of diminishing despite the collapse of domestic housing markets during the past two years. This paper analyzes the complex relationships between prime mortgage loan markets, subprime markets, and various types of mortgage fraud. This paper concludes that the root causes of mortgage fraud are associated …
Developing Las Vegas: Creating Inclusionary Affordable Housing Requirements In Development Agreements, Ngai Pindell
Developing Las Vegas: Creating Inclusionary Affordable Housing Requirements In Development Agreements, Ngai Pindell
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The lack of affordable shelter for all of America's families often appears to be an immutable part of America's housing landscape. If the inclusionary housing regime in Las Vegas allowed local governments and developers any discretion in the decision to include affordable housing in a particular development agreement, the regime would have to establish an equivalent mechanism such as individual developer suits to check abuses of this discretion. A potential safeguard of effective affordable housing planning under development agreements could be the expertise of planners and other local government officials. Inclusionary housing requirements within development agreements ensure affordable housing issues …
Fear And Loathing: Combating Speculation In Local Communities, Ngai Pindell
Fear And Loathing: Combating Speculation In Local Communities, Ngai Pindell
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Local governments commonly respond to economic and social pressures on property by using their legal power to regulate land uses. These local entities enact regulations that limit property development and use to maintain attractive communities and orderly growth. This Article argues that government entities should employ their expansive land use powers to limit investor speculation in local markets by restricting the resale of residential housing for three years. Investor speculation, and the upward pressure it places on housing prices, threatens the availability of affordable housing as well as the development of stable neighborhoods. Government regulation of investor speculation mirrors existing, …
Is There Hope For Hope Vi?: Community Economic Development And Localism, Ngai Pindell
Is There Hope For Hope Vi?: Community Economic Development And Localism, Ngai Pindell
Scholarly Works
HOPE VI is a competitively funded, public housing redevelopment program with several competing goals. First, it seeks to revitalize deteriorated inner city communities. Second, the program attempts to transform dense, high-rise public housing that has housed the lowest income tenants into developments that are more integrated with surrounding communities in terms of architecture, economics, and aesthetics. Third, the program aspires to provide public housing residents opportunities for social and economic mobility through improvements in physical design and program offerings. The HOPE VI design encompasses demolishing existing "distressed" public housing developments, rebuilding these developments with fewer public housing units, and housing …