The Consumer Financial Protection Bureau (CFPB) is a veritable wellspring of costly dictates and regulatory excess. Among the dozens of pending regulations it has concocted is a 1,099-page proposal to streamline the mortgage process. Yes, you read that right: 1,099 pages to “streamline” the home loan experience. And get this: …
President Obama has announced that he ordered the Federal Housing Administration (FHA) to cut in half the fee paid by homeowners whose mortgages the agency guarantees. The good news is that this reduction will save those homeowners who are able to refinance their homes about $1,000 annually. The Administration says …
Take a stroll through your neighborhood Occupy Wall Street protest–whether it’s in New York or Chicago, Detroit or San Francisco–and you’re likely to see a recurring theme emblazoned across cardboard signs: redistribute wealth from the 1 percent to the 99 percent, all in the name of fairness, whether or not …
Four years after home values in America plummeted, fears over America’s housing market remain. In testimony before Congress yesterday, Federal Reserve Chairman Ben Bernanke cited “the continuing depressed condition of the housing sector” as one of the factors behind America’s sagging economy. In response to the poor market, the White …
Losses are mounting. The situation shows no sign of getting better. It’s clear that U.S. government intervention has made the problem only worse. The economy has been directly affected and Americans exposed to trillions in new debt risk. Leaders now talk of redoubling government efforts. It’s time for a change …
