Hard-pressed homeowners are asking why lenders often balk at short sales, which allow owners to sell deeply devalued homes for less than what remains on their mortgage. But servicers can reap high fees from foreclosures. And lenders may collect on private mortgage insurance in a foreclosure. . . . → Read More: Are banks declining loan mods and short sales because they make more fees on foreclosures?
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Congress has rightly been concerned with wholesale tax evasion by fat cats, but the Foreign Account Tax Compliance Act (FATCA) provisions are designed – as a largely unintended consequence – to chill US exports and our international competitiveness. . . . → Read More: FATCA: US Export destruction act It seems to me that foreclosure-gate as the foreclosure mess is being called has the hallmarks of a classic, large scale, operational risk failure. . . . → Read More: Op Risk: Foreclosure-gate firing on all four cylinders The US has (to mix a few metaphors) shot itself in the foot by building large speed bumps to exports. These things are by no means fore-ordained. The US could, with an adjustment of its tax policies change to more export growth. But the current administration has decided, contrary to its stated campaign promises, instead to carp at others, whine, and continue increase its anti-export tax treatment of overseas Americans and foreign investors. . . . → Read More: Geithner’s chiding of others should lead to export friendly tax reform here |
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