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Richard Cordray

CFPB Safe Harbor Rule Would Allow Homeowners to Fight Bad Mortgages

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Editor’s Comment: The practice of disregarding normal loan underwriting standards creates a claim that homeowners were tricked into loans that they could never repay. The Consumer Financial Protection Bureau, built by Elizabeth Warren under Obama’s direction is about to pass a rule that addresses that very issue. The new Rule would allow homeowners contesting foreclosure …

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Release on Foreclosure Fraud Settlement Looks Broader Than Advertised

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MOST POPULAR ARTICLES CLICK HERE TO GET COMBO TITLE AND SECURITIZATION REPORT SERVICE 520-405-1688 Release on Foreclosure Fraud Settlement Looks Broader Than Advertised By: David Dayen In his statement on the Administration’s new housing policies, CFPB Director Richard Cordray makes a fairly stunning response, considering it’s posted at the White House blog: The principles articulated …

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BLOOMBERG: GMAC CASE MAY ESTABLISH ANTI-BANK PRECEDENT

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GMAC foreclosure case may set anti-bank precedent Michael Riley, Bloomberg News Tuesday, November 9, 2010 When James Renfro had to stop making payments on his two-story fixer-upper in Parma, Ohio, a suburb of Cleveland, he triggered events that were supposed to result in the forced sale of his home. That Nov. 15 auction has been …

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Ohio Attorney General Fights Against Wall Street, Joining More Attorneys General

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October 11, 2010 Ohio Attorney General Fights Against Wall Street By MICHAEL POWELL COLUMBUS, Ohio — Back East, at the corner of Broad and Wall Streets, the view is swell. The Dow is soaring, and bankers look pleased. But here on East Broad Street, the mood is gloomier. At least 90,000 residential and commercial foreclosure …

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A.I.G. to Pay $725 Million in Ohio Case

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July 16, 2010 A.I.G. to Pay $725 Million in Ohio Case By MICHAEL POWELL and MARY WILLIAMS WALSH The American International Group, once the nation’s largest insurance group before it nearly collapsed in 2008, has agreed to pay $725 million to three Ohio pension funds to settle six-year-old claims of accounting fraud, stock manipulation and …

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