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
A recent article in the Los Angeles Times reported that Massachusetts became the first state to file a lawsuit against the nation’s five biggest mortgage lenders; the lawsuit seeks relief for homeowners foreclosed on during the housing crisis. Regarding the significance of the case, Professor Kurt Eggert stated, “This is an important move because to
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 Detroit Free Press interviewed Professor Kurt Eggert, a national expert on mortgage issues, in a series of articles about mortgage principal reductions. “If you don’t do principal reductions as home prices decrease, more people walk away from their mortgages,” said Professor Eggert. “If the house is substantially underwater, borrowers have much less incentive to
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
Congratulations to Chapman Law alumnus and Orange County Bar Association Member Jeffrey Astarabadi, who was recently made principal at Much Shelist. Chapman alumnus Astarabaldi’s practice is concentrated in civil litigation, representing clients in both the prosecution and defense of complex business and real estate matters.
The Financial Times quoted Professor Kurt Eggert in an article about Goldman Sachs attempting to sell a mortgage servicing operation. “There is an inherent conflict when a bank that is betting on the housing market owns a company that can affect the default rates of the loans underlying that market,” Professor Kurt Eggert said. Read
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
Professor Kurt Eggert was featured in an LA Times story about predatory lending and the financial crisis. The article highlighted Professor Eggert’s testimony at the final field hearing of the Financial Crisis Inquiry Commission, where he told the panel that the rush to profit from turning subprime mortgages into top-rated Wall Street securities encouraged predatory