Sen. Mark Kirk (R-IL) voted today to filibuster a vote on President Obama’s nomination of Congressman Mel Watt as the director of the Federal Housing Finance Agency (FHFA). The motion to allow Congressman Watt’s confirmation vote failed on a...
Ever since the collapse of the housing bubble, local officials around the country have had to deal with a massive problem of homes effectively abandoned by banks and other absentee owners. With the direct and indirect costs of this...
7236333-v2-QRM Comment Letter – Allies.pdfThis joint letter urges regulators to reconsider the current definition of qualified residential mortgage (QRM) and the unintended restriction of access to mainstream mortgage credit being mandated by regulation.
It’s time for a leader who will make priority one preventing further damage from the foreclosure crisis. Sign onto our letter telling Sen. Kirk that homeowners deserve a vote on new leadership at FHFA. Congressman Mel Watt’s nomination to...
Woodstock Institute and consumer advocates across the country were concerned about the original QRM definition because it would have excluded many borrowers of color, first-time borrowers, and low-wealth borrowers from the mortgage market by requiring a 20 percent down...
131025_mb_coletaylor_woodstock.pdfThis letter expresses concerns about the proposed acquisition of Cole Taylor Bank by MB Financial, Inc. It analyses the banks’ mortgage lending record and asks the Federal Reserve Bank of Chicago to set targets for the merged institution to...
131030_qrm_woodstock.pdfThis comment letter to federal regulators supports re-proposed interagency rules implementing the credit risk retention requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. It urges regulators to support the qualified residential mortgage (QRM) rule’s updated structure,...
If you were unable to attend, here are just a few of the highlights: Scheinfeld Award—Illinois Attorney General Lisa Madigan graciously accepted the award and ditched her prepared remarks to speak from the heart, congratulate Woodstock, and tell a...
In this edition of Woodstock Developments, President Dory Rand recaps Woodstock's 40th anniversary research symposium and bash, our new report shows mortgage and credit card issues are the top consumer concerns for Illinoisans, consumers speak out at a Chicago...
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