Real Estate & Property Law

White on Banning Subprime Mortgages
Alan M. White (Valparaiso University School of Law) has posted The Case for Banning Subprime Mortgage (University of Cincinnati Law Review, 2008) on SSRN. Here is the abstract: While the subprime mortgage boom was in full swing, its benefits to...

Subprime sense
Cato Institute's Alan Reynolds passes along some interesting observations regarding his review of subprime mortgages (see previous posts here). Among them are the following: Most current foreclosures are on prime mortgages, not subprime...

S.E.C. to Investigate AIG
According to the N.Y. Times, the U.S. Securities and Exchange Commission (SEC) is investigating whether American International Group, Inc. (AIG), a prominent insurance and financial services organization, overstated the value of contracts linked to subprime mortgages...

Obama vs. Hillary on Subprime Mortgages:
There was an interesting exchange on subprime mortgages between Barack Obama and Hillary Clinton during their last debate. Hillary argued for a mortgage freeze (hat tip: Instapundit):...

6.5 million
That's the new number for total projected foreclosures in the U.S. through 2012, according to a Credit Suisse report released Tuesday. In other words, one of every eight mortgages will be foreclosed...

Subprime Losses Could Reach $400 Billion
Banks worldwide may lose as much as $400 billion from subprime mortgages, as at least one in four of the risky home loans go into default, analysts said on Monday. Mike Mayo, an analyst at Deutsche Bank Securities, estimated $150 billion to $250 billion of losses based on $1...

Reverse Mortgages
Consumer facts

The Paulson Toxic Mortgage Debt Security Act: The Biggest Government Bailout of All Time
Legislative Proprosal for Treasury Authority to Purchase Mortgage-related Assets

Wells Fargo Settles New Jersey State Investigation into Pick-a-Payment Mortgages
Wells Fargo Settles New Jersey State Investigation into Pick-a-Payment Mortgages

Goldman Sachs
Agrees $60 Million Subprime Settlement in Massachusetts

Rock Band Great White
Settles Over 2003 Station NightClub Fire

Loan Backers
Mortgage Lenders Network pays $855,000 bankruptcy settlement for unfunded mortgages.

Housing Buyer Discrimination
White homeowner settles $30,000 buyer-discrimination lawsuit.