Green-certified homes produce more green

Does a green-certified home really pay off? A recent UCLA study considered homes sold in California from 2007 through early 2012. Of the 1.6 million homes sampled, 4,321 sold with Energy Star, LEED or GreenPoint ratings and certifications. Controlling for factors such as location, when the home was sold and its amenities, the study found…

Fed outlook mixed — huge surprise

The economy is recovering — but it isn’t. This is essentially the Federal Reserve Bank of San Francisco’s (FRBSF) most recent mixed message on the state of the economic recovery. A rather stale and well-tread outlook on the economy and monetary policy is offered in the FRBSF’s July Economic Letter, as sound and reasonable as…

San Bernardino finds bankruptcy and foreclosure ugly cousins

High foreclosure rates may bankrupt cities, a recent news article reports. San Bernardino, Stockton and Mammoth Lakes each declared bankruptcy this year. The high foreclosure rates in all but Mammoth Lakes (whose bankruptcy was due to a court judgment) indicates a tangible connection between residential foreclosures and city insolvency. Related articles: City’s cancellation of development…

Homeowner Bill of Rights is law

A portion of the Homeowner Bill of Rights, sponsored by the California Attorney General, has passed. The suite of bills making up the Homeowner Bill of Rights was proposed earlier this year as a preventative measure against foreclosure abuses by lenders against homeowners. With the passage of these two state bills, Assembly Bill (AB) 278…

They’ll never suspect a thing!

(interior: an oak paneled boardroom with dimmed lights, the muffled sound of thunder from outside the building can be heard intermittently) Okay, settle down, thank you all for coming this morning.  As the heads of the 25 largest financial institutions in the country, I realize you’re all very busy so I’ll keep this brief. I…

Will foreclosure review provide relief for borrowers?

Borrowers who lost their homes to foreclosure may be eligible for money or other remedy if the foreclosure was made out of error or misrepresentation by mortgage servicers. In response to complaints made by borrowers and consumer advocates regarding deceitful and erroneous foreclosure practices, federal banking regulators have been conducting an independent review to investigate…