Treasury will post on its website contracts with the financial institutions that received federal Troubled Asset Relief Program (TARP) funds. This increased transparency puts pressure on recipients to use these public funds wisely and assists local officials and...
Although the worst of the wave of foreclosures tied to the highest risk mortgages such as subprime hybrid adjustable rate loans may have passed, there remain significant concerns about the financial condition of homeowners. The continued weakness in the...
Foreclosurereport2008_012009_gsmith.pdf Geoff Smith and Sarah Duda This report summarizes key foreclosure trends in the Chicago region for 2008 and updates Woodstock Institute reports and fact sheets released previously that illustrated key aspects of the foreclosure crisis such as the...
foreclosurefilings_2H08_woodstock.pdf Aggregated by community area, ward, suburban region, and municipality, Woodstock’s second half 2008 foreclosure update offer community stakeholders the information they need to understand the scope of the problem and measure the success of their efforts.
Fed_1202009_appraisalandevaluationguidelines.pdf Comment letter in response to proposed Federal Reserve appraisal and evaluation guidelines suggesting necessary changes to eliminate the undue influence of brokers on the appraisal and evaluation process, establish robust internal controls for the appraisal process during the...
Limiting lenders to one every 1,500 feet certainly puts lenders on notice that their activities will be closely watched by the City of Springfield and communities throughout the state. However, we agree with Ward 7 Alderman Debbie Cimarossa...
Bloomberg News and American Banker reported today that the banks must report by Jan. 31 on how they used public Tarp funds in the fourth quarter of 2008 and must report monthly thereafter. Fittingly, these reports will be made...
As the President noted, “our economy is badly weakened, a consequence of greed and irresponsibility on the part of some….Homes have been lost; jobs shed; businesses shuttered.” Part of our government’s response to this crisis has been to allocate...
The Emergency Economic Recovery Act of 2008 gave the Treasury Department broad authority to support major financial institutions by purchasing distressed assets, bolstering capital and catalyzing lending in response to the current fiscal crisis. Along with the CDFI Coalition...
By Lisa Block January 7, 2009 Jan. 7–Cindy Almendarez avoided the homeless shelter for as long as possible, shuffling her children from a friend’s basement to a roach-infested apartment before bunking down in the back seat of her...