September 24, 2013

5 Years Later – A Housing Market on the Rebound

Cross posted from I will never forget the uncertainty that loomed over our nation five years ago, when a financial collapse on Wall Street spurred the worst economic crisis since the Great Depression. At the time, I was serving as a commissioner in New York City. I vividly remember being in City Hall when […]

June 21, 2013

Protecting Responsible Homeowners by Holding Mortgage Lenders Accountable

On June 19th, Joseph A. Smith, the Monitor of the National Mortgage Settlement, released a report which stated that the nation’s largest mortgage servicers have failed eight of the servicing standards listed in the National Mortgage Settlement. The Monitor’s testing through the end of last year resulted in three testing fails, and there have been […]

May 21, 2013

National Mortgage Settlement Provides Relief for more than 620,000 Homeowners, Including Vinel Cooper in Pennsylvania

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The nation’s largest mortgage servicers have distributed $50.63 billion in direct relief to over 620,000 homeowners, or roughly $81,000 per homeowner as part of the National Mortgage Settlement, according to a progress update released today by independent settlement monitor Joseph A. Smith of the Office of Mortgage Settlement Oversight. Over one year ago, the Department […]