Professor Eggert spoke on proposed legislation that State Attorney General Kamala Harris and other proponents are pushing for to prevent foreclosure abuses by having stricter mortgage rules. The proposals are part of what Democratic legislators call an allied “Homeowners Bill of Rights.” Professor Eggert, in pointing out that under the present laws mortgage payment collectors often
Between the Los Angele Times and KABC radio, Professor Eggert has been all quoted all over the media since California and New York joined more than 40 0ther states in a settlement with banks that conducted abusive foreclosure practices, such as Bank of America Corp., JPMorgan Chase & Co., Ally Financial Inc., Citigroup, and Wells
Professor Eggert was quoted in an article on foreclosure in iWatch News. Stories from “the great recession” continue to be published as reporters across the country analyze the breakdown of mortgage companies, and how the lending industry’s collapse affects homeowners in foreclosure today. The author writes, “Much of the blame can be directed at a
The Los Angeles Times recently reported that California Attorney General Kamala D. Harris is suing Fannie Mae and Freddie Mac to force the mortgage companies to answer questions about their role in California’s housing meltdown. The Los Angeles Times writes that, “the housing finance agency, through outside counsel, argued that the questions posed by California
An article in the Los Angeles Times reported that on Tuesday, November 1st, under orders from federal regulators, 14 mortgage servicers began mailing out over 4 million letters to potential victims of wrongful foreclosure practices. Recipients of these letters have the opportunity to submit their case for a free review by independent consultants, and may
The Los Angeles Times interviewed Professor Kurt Eggert in an article entitled, “Consumer-Protection Agency Launches amid Lingering Controversy,” about the government’s role in financial abuses. Professor Eggert told the Times that the continued battle over the Consumer Financial Protection Bureau shows how much it is needed. “There’s kind of a war going on to, if
The Washington Post quoted Professor Kurt Eggert in an article about a foreclosure case that recently went before the Massachusetts Supreme Court. Professor Eggert discussed the problems with the legal argument the banking industry had been using to reassure investors and the public that everything was okay. “The banking industry has dismissed problems such as
Professor Kurt Eggert was quoted in the UK Guardian, in an article entitled, “Let’s Not Foreclose on Financial Reform.” The article highlighted Professor Eggert’s recent testimony at the December 1 hearing before the U.S Senate Committee on Banking, Housing, and Urban Affairs. “The regulators often have been worried more about the soundness of banks than
Professor Kurt Eggert has been invited to testify before the U.S Senate Committee on Banking, Housing, and Urban Affairs, in a hearing to be held December 1 in DC. Professor Eggert will testify about the foreclosure crisis. The hearing is called “Problems in Mortgage Servicing From Modification to Foreclosure Part II.”
Professor Kurt Eggert was quoted in the New York Times online Opinion Pages. The opinion piece, entitled “How Wall Street Hid Its Mortgage Mess,” highlighted Professor Eggert’s testimony to the secrecy that once surrounded mortgage-backed securities. “Investors were not given sufficient information to make the decisions that they needed to make to see if they