follow the money

A blog on business law, politics, and white collar crime

June 17, 2014

A Second Chance to Help Families Save Their Homes

Pleased to share my latest New York Times DealBook column, titled, “A Second Chance to Help Families Save Their Homes,” published June 13, 2014. Here’s the lede:

“It’s a familiar story. Regulator sues mortgage firms, demanding that they stop abusing homeowners facing foreclosure. This time, however, it’s different. The defendants in this case are not banks. Instead, they are the government-sponsored enterprises Fannie Mae and Freddie Mac.”

 

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In the wake of the financial meltdown in 2008, there were many who claimed it had been inevitable, that “no one saw it coming,” and that subprime borrowers were to blame.