Banking & Financial Services Legislative Alerts
By Jason Hughey Yesterday, the Center for American Progress hosted a panel on the topic of “Eminent Domain as a Means to Reduce Principal.” Back in September, AFP’s sister organization submitted a comment on this same proposal to the Federal Housing Finance Agency (FHFA). In the comment, several questionable aspects of the proposal were identified, [...]
By Jason Hughey Several months ago, I wrote that, “The first rule of government intervention in housing is that government should stop intervening in housing.” News broke at the end of last week that further confirmed the soundness of this rule. On Thursday, the Federal Housing Administration (FHA) released its 2012 actuarial report that revealed [...]
By Jason Hughey Back in February, news of the $25 billion mortgage settlement sent mixed signals. Some thought that it fairly punished the big banks for their alleged role in the 2008 financial collapse while others counted that the settlement didn’t go far enough. In reality, both sides overlooked the fact that using government to [...]
While it’s widely agreed that permanent law is not a perfect long-term solution, it’s far preferable to passing a trillion-dollar spending bill that is full of food and farm welfare.
Americans for Prosperity Foundation (AFPF), the sister organization of Americans for Prosperity, has submitted a comment to the Federal Housing Finance Agency (FHFA) in response to the agency’s notice regarding the “Use of Eminent Domain to Restructure Performing Loans.” Recently, Ed DeMarco, acting director of the FHFA, publicly expressed opposition to the plan being considered by the county of San Bernardino in California to utilize the power of eminent domain to seize and refinance underwater mortgages with the assistance of Mortgage Resolution Partners, a California-based investment firm.