4 chapters across the catalog
Wall Street Settlement Money Pocketed by Government
A Wall Street Journal investigation revealed that of the $110 billion paid by major banks to settle mortgage fraud charges, over $50 billion was pocketed by the federal government rather than being distributed to struggling homeowners. There has been almost no public disclosure regarding how the government spent the settlement funds.
Big Bank Foreclosure Settlement, Fannie Mae Mortgage Transfers
The $26 billion "Big Bank" foreclosure settlement announced in February is scrutinized for delays in filing official paperwork. Claims are made that banks used the two-month delay to transfer mortgages to Fannie Mae and Freddie Mac, which are exempt from the principal reduction requirements. The hosts criticize the mainstream media for failing to investigate the loophole.
Obama Mortgage Settlement and National Mortgage Settlement Website
The Obama administration's $26 billion mortgage settlement is analyzed as a potential scam. The hosts point out that no deal has actually been signed and that the requirements for relief—such as never having missed a payment—exclude the vast majority of struggling homeowners.
Mortgage Settlement and Principal Reduction Claims
A $26 billion mortgage settlement with major banks is analyzed. While media reports suggest homeowners will see principal reductions of $20,000, the hosts argue the deal primarily involves loan extensions that benefit banks in the long term.
