Hi Everyone,

Here’s the follow up from class today.

I promised more details on the Community Reinvestment Act. “The Community Reinvestment Act of 1977 was irrelevant to the subprime boom, which was overwhelmingly driven by loan originators not subject to the Act….”  More here.

There was a request for information on local HUD-Approved Housing Counseling Agencies.  Here’s a good Wa State link to start with: Homeownership.WA.gov  Scroll down to the bottom where it says “What to do if you’re late with your payments.”  And see the HUD link.

Here’s the 60 Minutes episode on the Countrywide Whistleblower. It will only take you about 10 min to watch it. It’s a good segment.

Here’s a link to where I get all my cool graphs and charts.  Many thanks to Bill McBride who runs Calculated Risk.

Wow, you guys are so smart!

Here’s the NYTimes story on the local maternity leave Fair Housing case. though the new mom was on paid maternity leave, HUD makes it clear that even if the maternity leave is unpaid….”The Fair Housing Act protects borrowers from being discriminated against based on maternity leave if the borrower can demonstrate that she intends to return to work and can otherwise continue to meet the income requirements to qualify for a loan.”

And here’s the latest mortgage fraud report from the FBI.