Friday, September 3, 2010

Why the argument over ‘too big to fail’ could be too big to lose

Why the argument over 'too big to fail' could be too big to lose

I recommend HPC contributors have a read on Wikipedia of the provisions of the Dodd-Frank Act which is already law. It is all news to me. Mortgage originators (Title XIV) must make a good-faith effort to ensure that the mortgagee will be able to repay the loan. If this effort was not made it can be used as a defense against foreclosure. They seem to be well ahead of us as we are still in 'consultation' and half of UK mortgages granted are still liar loans.

Posted by monty032 @ 09:21 AM (881 views)
Please complete the required fields.



One thought on “Why the argument over ‘too big to fail’ could be too big to lose

  • There is a fundamental difference in the US – All mortgages are non-recourse. Rather like an option. If the prices go up keep the property if they go down not my problem pal. As they say where is the skin in the game.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>