Professor Kurt Eggert was quoted in a piece entitled, “Countrywide Could Bring B of A Misery.” In addressing the litigation against Countrywide that was inherited by Bank of America in the recent acquisition, Professor Eggert stated, “This puts a cloud over the Bank of America deal…No one knows how likely it is the states will
Professor Kurt Eggert was interviewed in an extensive Q & A today in a story entitled “Subprime and punishment” in the Orange County Register. Professor Eggert addressed the indictments of former Bear Stearns hedge fund managers Ralph Cioffi and Matthew Tannin. Read story…
Professor Kurt Eggert was quoted in the Wall Street Journal in a story entitled “More Loan Forgiveness Sought” about the tax implications of the “loan forgiveness” that comes with foreclosures, short sales and loan modifications for troubled loans. In the piece, Professor Eggert stated: “A double whammy for many in the current housing market is
Professor Kurt Eggert was quoted on “Morning Edition” (NPR) in a piece about whether Wall Street investment houses knew that they were packaging bad loans for securitization. “It’s amazing if any investment bank agreed to a maximum number of loans they would kick back for defects. That means that they were willing to accept junk.
Associate Dean Tim Canova was featured in the Orange County Register’s Mortgage Insider, in a piece entitled “Did the agencies rating mortgage bonds let greed trump common sense?” Dean Canova was quizzed about the agencies and their role in the housing boom and its subsequent collapse. In the wide ranging interview, Dean Canova tackled some
Professor Kurt Eggert was quoted in the Los Angeles Times, in a story entitled “In mortgage market, ‘walkaway’ homeowners may be urban myth,” which discussed whether homeowners are walking away from their mortgages . Excerpt: “So many of the loans made were irresponsible — for the borrowers and for the lenders,” said Kurt Eggert, an
Professor Kurt Eggert was quoted in a story in the Los Angeles Times entitled “Lenders derail plan to let bankruptcy judges modify mortgages.” Although some lenders have offered to work out voluntary modifications with strapped borrowers, subject to strict conditions, “there are a lot of structural barriers to loan modifications, and a voluntary system doesn’t
Professor Kurt Eggert appeared in front of the California Assembly Committee on Banking and Finance to discuss two separate bills, AB 2740 (Brownley), which would provide new regulation for mortgage servicers, and AB 2359 (Jones), which would provide assignee liability in some instances of subprime, high priced, or non-traditional loans.
Dean Timothy Canova was quoted in a column by Dean Calbreath in the San Diego Union Tribune entitled, “Land bank proposal deserves more funds.” Read story… Excerpts from the piece include: “I hate to say it, but this proposal seems more like public relations than an actual attempt at a solution,” said Timothy A. Canova,
Professor Kurt Eggert was invited to speak at the 7th Annual Alberta Conference on Gambling Research held at Banff, Canada, co-sponsored by the Alberta Gaming Research Institute and the University of Alberta. Profofessor Eggert gave a presentation entitled: Improving Consumer Protection in the Gambling Industry. Professor Kurt Eggert also had a sound-bite in a story