Open Access. Powered by Scholars. Published by Universities.®
- Discipline
- Keyword
-
- Housing Finance (7)
- Property-Personal and Real (6)
- Banking and Finance (5)
- Housing Law (5)
- Consumer Protection Law (4)
-
- Secured Transactions (4)
- Securities Law (4)
- Legislation (3)
- Mortgage-backed securities (3)
- Financial crisis (2)
- Housing (2)
- Law and Economics (2)
- MBS (2)
- MERS (2)
- REMIC (2)
- Real Estate Mortgage Investment Conduit (2)
- Residential mortgages (2)
- State and Local Government Law (2)
- Age (1)
- CFPB (1)
- Cerdit score (1)
- Closed-end loan (1)
- Condemnation (1)
- Consumer Financial Protection Bureau (1)
- Consumer protection (1)
- Covered loans (1)
- DTI (1)
- Debt to income (1)
- Depository (1)
- Disclosure (1)
Articles 1 - 8 of 8
Full-Text Articles in Law
Comment On Home Mortgage Disclosure Act Proposed Rulemaking, David J. Reiss
Comment On Home Mortgage Disclosure Act Proposed Rulemaking, David J. Reiss
David J Reiss
The Consumer Financial Protection Bureau's Home Mortgage Disclosure Act proposed rulemaking (proposed Aug. 29, 2014) is a reasonable one. It increases the amount of information that is to be collected about important consumer products, such as reverse mortgages. It also increases the amount of important information it collects about all mortgages. At the same time, it releases lenders from having to determine borrowers’ intentions about how they will use their loan proceeds, something that can be hard to do and to document well. Finally, while the proposed rule raises some privacy concerns, the CFPB can address them.
Remic Tax Enforcement As Financial-Market Regulator, Bradley T. Borden, David J. Reiss
Remic Tax Enforcement As Financial-Market Regulator, Bradley T. Borden, David J. Reiss
David J Reiss
Lawmakers, prosecutors, homeowners, policymakers, investors, news media, scholars and other commentators have examined, litigated, and reported on numerous aspects of the 2008 Financial Crisis and the role that residential mortgage-backed securities (RMBS) played in that crisis. Big banks create RMBS by pooling mortgage notes into trusts and selling interests in those trusts as RMBS. Absent from prior work related to RMBS securitization is the tax treatment of RMBS mortgage-note pools and the critical role tax enforcement should play in ensuring the integrity of mortgage-note securitization.
This Article is the first to examine federal tax aspects of RMBS mortgage-note pools formed …
Eminently Reasonable, David J. Reiss
Eminently Reasonable, David J. Reiss
David J Reiss
Local governments across the country are considering an innovative use of eminent domain. They propose to condemn underwater mortgages (those that exceed the fair-market value of the home) in their communities and restructure them so that homeowners can afford their payments and so that the new mortgage is for less than the fair market value of the property. If this proposal is implemented, the local government will pay the owner of mortgages of "underwater" homes the fair market value for the mortgages. The local government will then restructure each mortgage by reducing the principal amount owed to be in line …
Wall Street Rules Applied To Remic Classification, David J. Reiss, Bradley T. Borden
Wall Street Rules Applied To Remic Classification, David J. Reiss, Bradley T. Borden
David J Reiss
Investors in mortgage-backed securities, built on the shoulders of the tax-advantaged Real Estate Mortgage Investment Conduit (“REMIC”), may be facing extraordinary tax losses because of how bankers and lawyers structured these securities. This calamity is compounded by the fact that those professional advisors should have known that the REMICs they created were flawed from the start. If these losses are realized, those professionals will face suits for damages so large that they could put them out of business.
Book Review: The Subprime Virus: Reckless Credit, Regulatory Failure, And Next Steps, David J. Reiss
Book Review: The Subprime Virus: Reckless Credit, Regulatory Failure, And Next Steps, David J. Reiss
David J Reiss
John Godfrey Saxe’s 19th century poem, “The Blind Men and the Elephant,” opens with six learned men
Who went to see the Elephant
(Though all of them were blind),
That each by observation
Might satisfy his mind.
The financial crisis is the Elephant of our time. Over the last couple of years, more than six wise men and women have written books purporting to explain the financial crisis and many more such books are surely in the works. Most of these wise ones suffer from the same limitations as the poem’s learned men. As each reaches out, he or she …
First Principles For An Effective Federal Housing Policy, David J. Reiss
First Principles For An Effective Federal Housing Policy, David J. Reiss
David J Reiss
Federal housing policy is heavily funded and made up of a morass of programs. This article provides a taxonomy of goals for housing policy. The article first asks what the aim of housing policy is. In other words, what can a well-designed and executed housing policy achieve? The answer to this question is not at all clear-cut. Some argue that the aim of housing policy is to allow all Americans to live in safe, well-maintained and affordable housing. Others argue for a more modest aim – achieving an income transfer to low- and moderate-income families that mandates that the income …
The Role Of The Fannie Mae/Freddie Mac Duopoly In The American Housing Market, David J. Reiss
The Role Of The Fannie Mae/Freddie Mac Duopoly In The American Housing Market, David J. Reiss
David J Reiss
No abstract provided.
How We Got Where We Are: The Lessons Of History, David J. Reiss
How We Got Where We Are: The Lessons Of History, David J. Reiss
David J Reiss
No abstract provided.