The California State Housing Authority has taken targeted measures to provide assistance to homeowners in financial hardship through the Hardest Hit Fund.
Like all states receiving help from HHF they have worked hard at developing innovative mortgage assistance programs targeted to the specific needs of their homeowners foreclosure assistance needs.
In addition to developing new programs they have adopted the approach of improving and expanding existing efforts and foreclosure prevention programs already in place.
California has decided to hyper focus borrower assistance resources towards aiding low to moderate income homeowners.
A core theme in the development and design of their approach is to ensure that their programs and the operations of their assistance efforts remain flexible and agile. This is in response to the success that the Obama home affordable mortgage assistance programs have had with the same approach.
To get the most bang out of their buck California foreclosure assistance efforts has put significant measures in place to have lenders, loan servicers, and PMI insurers to match their efforts dollar to dollar.
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California Foreclosure Prevention Programs - Hardest Hit Fund Program
Showing posts with label subprime mortgage securties. Show all posts
Showing posts with label subprime mortgage securties. Show all posts
Sunday, March 20, 2011
Thursday, July 15, 2010
Goldman Sachs Settles with the SEC - Over Half a Billion Dollars - No Financial Biggie
Goldman Sachs who really caught some heat from the subprime mortgage securities it was selling as securities (imagine that) settled with the SEC for a little more then 500 million dollars.
In the grad scope of things this is no big deal to old Goldman. However in light that i still do not see how acting as a broker and selling securities can end up as a 550 million settlement with the SEC.
I don't know about those guys.
The brass tax of all this boils down to a fine that represents approximately 4% of what Goldman made in earnings for that year. I think they are probably happy just to get this stuff over with.
I know I would be.
Related Articles
Goldman Sachs Pumps Killer Earnings
SEC Calls Goldman Sachs Subprime Securities Sale Fraudulent
Financial Reform Bill is a Go
In the grad scope of things this is no big deal to old Goldman. However in light that i still do not see how acting as a broker and selling securities can end up as a 550 million settlement with the SEC.
I don't know about those guys.
The brass tax of all this boils down to a fine that represents approximately 4% of what Goldman made in earnings for that year. I think they are probably happy just to get this stuff over with.
I know I would be.
Related Articles
Goldman Sachs Pumps Killer Earnings
SEC Calls Goldman Sachs Subprime Securities Sale Fraudulent
Financial Reform Bill is a Go
Friday, March 5, 2010
Reform or Refrain - What Will Become of the Push to Reform the Financial Markets
It is no secret that the financial markets have not performed at there best. The free market by default will always be on the move, sometimes up, and sometimes down.
The last few years has been a bit skewed if we go by the history of the financial markets. We have not seen performance this low since the Great Depression.
Should the government reform the financial markets and current regulatory practices?
The federal government has already stepped in and bailed out or contributed to the financial stability of most of the large financial institutions and banks who are in large part the reason for the economic down turn of the economy. Just as the the government has reasoned that they needed to step in and aid the financial institutions so to do they believe that they need to step in and take a bigger presence as a government regulatory force in the broader financial markets and financial services industry. However as one might imagine there has been some negative feedback from the financial institutions and from many politicians.
Shouldn't the government step in and play a larger role given the fact that they already have stepped in the form of financial aid to these very same institutions? Many say yes. However just the many say no. The argument and rebuttal to this proposal is that regulators and the government will have a negative impact on the markets as they will increase artificial constraints and will increase the degree of uncertainty for investors.
This seems a fair argument as regulatory bodies will make mistakes as they are only human in the end. plus there is also room for the unseen and unintended consequences that seem to always pop up when Uncle Sam gets in the way and these blunders are not easily changed if they don't work. Plus it is arguable to say that the regulatory bodies have done a mediocre job thus far in enforcing the current line up of rules and regulations that are already in place for financial markets and the business world.
On the other hand there does seem to be a obvious problem with the markets at this given point and time. Also to be fair to the regulatory bodies such as the FED and the FDIC there are some loop holes that need to be fixed so that these guys can have the control they need over non bank deposit financial institutions whom leverage up to obscene levels and add systemic risk to the downside for everybody. Such institutions are not subject to the same liquidity or capitol levels that the typical savings and loan bank is held to. Thus these guys potentially can take things to far and as of now it seems as if they have.
Given these above notions I would like to hear what people think. Should there be added regulation to the world of finance?
If yes what do you think should be done?
The last few years has been a bit skewed if we go by the history of the financial markets. We have not seen performance this low since the Great Depression.
Should the government reform the financial markets and current regulatory practices?
The federal government has already stepped in and bailed out or contributed to the financial stability of most of the large financial institutions and banks who are in large part the reason for the economic down turn of the economy. Just as the the government has reasoned that they needed to step in and aid the financial institutions so to do they believe that they need to step in and take a bigger presence as a government regulatory force in the broader financial markets and financial services industry. However as one might imagine there has been some negative feedback from the financial institutions and from many politicians.
Shouldn't the government step in and play a larger role given the fact that they already have stepped in the form of financial aid to these very same institutions? Many say yes. However just the many say no. The argument and rebuttal to this proposal is that regulators and the government will have a negative impact on the markets as they will increase artificial constraints and will increase the degree of uncertainty for investors.
This seems a fair argument as regulatory bodies will make mistakes as they are only human in the end. plus there is also room for the unseen and unintended consequences that seem to always pop up when Uncle Sam gets in the way and these blunders are not easily changed if they don't work. Plus it is arguable to say that the regulatory bodies have done a mediocre job thus far in enforcing the current line up of rules and regulations that are already in place for financial markets and the business world.
On the other hand there does seem to be a obvious problem with the markets at this given point and time. Also to be fair to the regulatory bodies such as the FED and the FDIC there are some loop holes that need to be fixed so that these guys can have the control they need over non bank deposit financial institutions whom leverage up to obscene levels and add systemic risk to the downside for everybody. Such institutions are not subject to the same liquidity or capitol levels that the typical savings and loan bank is held to. Thus these guys potentially can take things to far and as of now it seems as if they have.
Given these above notions I would like to hear what people think. Should there be added regulation to the world of finance?
If yes what do you think should be done?
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