...THE FUTURE OF FORECLOSURE LAW IN THE WAKE OF THE GREAT HOUSING CRISIS OF 2007-2014 Clinical Professor of Law Notre Dame Law School Judith Fox 54 WASHBURN L. J. (forthcoming, 2015) Notre Dame Law School Legal Studies Research Paper No. 1504 A complete list of Research Papers in this Series can be found at: http://www.ssrn.com/link/notre-dame-legal-studies.html This paper can be downloaded without charge from the Social Science Research Network electronic library at http://ssrn.com/abstract=2573203 Electronic copy available at: http://ssrn.com/abstract=2573203 The Future of Foreclosure Law in the Wake of the Great Housing Crisis of 2007-2014 Judith Fox* ABSTRACT As 2014 came to an end so, perhaps, did the worst foreclosure crisis in U.S. history. On January 15, 2015, RealityTrac, one of the nation’s leading reporters of housing data, declared the foreclosure crisis had ended. Whether or not their declaration proves true, the aftermath of the crisis will be felt for years to come. During the crisis it is estimated more than five million families lost their homes to foreclosure. Federal, state and local responses to the crisis changed laws and perceptions regarding foreclosure. Despite these changes, we end the crisis much the way we began---with a nationwide foreclosure system mistrusted and disliked by lenders and consumers alike. This paper examines the responses to the crisis in an effort to determine what worked, what did not, and where foreclosure law should...
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...The Detection of Gravitational Waves, How Close Are We? Since the realization that the general theory of relativity predicts gravitational waves, there have been attempts to actually detect these waves. Indirect observations have been made that support their existence but no direct measurement. This paper gives a brief explanation of gravitational waves and discusses the current condition of the experimental search for gravitational waves. It deals with the newest techniques that will enable their detection. The focus of the paper is on three experimental groups: LIGO, VIRGO, and LISA. From our research of these groups we believe that the detection of gravitational waves will occur within the next decade. Gravitational waves: Understanding and Detection Gravitational waves carry information about catastrophic events in the universe. We give a brief description of gravitational waves with an overview of the current projects underway to detect them. We begin by discussing the theoretical prediction of gravitational waves from Einstein's General Theory of Relativity. We listseveral possible sources of these waves and describe how they produce gravitational waves. We also discussthe characteristic signals each source sendsto Earth. We outline advantages and challenges for several detection methods now being...
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...SCHOOL OF GRADUATE STUDIES CENTRAL PHILIPPINE UNIVERSITY LOPEZ JAENA STREET JARO, ILOILO CITY ____________________________________________________________________________ REACTION PAPER Asian Economics Comment Presented to: Prof, Jima G.DeLeon, MBA Professor, School of Graduate Studies Central Philippine University In Partial Fulfilment of the Course Requirement in MBA 612 Financial Systems Presented by: Mehrdad Alavi MBA Thesis Option September 13, 2013 I. PRELINMINARY 1- The title of paper is Asian Economics Comment, The anatomy of bubbles, part 1. It is written at August 27 2009 by Dr, Feredric Neumman, whom is senior Asian Economist. The issuer of report is The Hongkong and Shunghai Banking Corporation Limited. Additional information for connecting to the author is +85228224556. FEREDERICINEUMANN@HSBC.COM.HK For more information, the reader can view HSBC Global Research at: www.research.hsbc.com 2- It talks about The Bubble in the financial market specifically in the financial housing market in the Asia and what was happening in the USA at 2008 in the same field. II. ANALYSIS AND REACTION 1- The author tried to anatomy of a bubble in the asset market which was happening at 2008 and before. The first part is discussed about what conditions required for that and the part two and three are belong to what is need to sustain the run. He had paid particularly attention to psychology and what behavioural insights...
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...[pic] Report On Global Financial Crisis: Recovery and Challenges “In the perspective of United States of America” Course Details: Fin603: Financial Institutions & Market Section: 01 Submitted to: Dr. Salehuddin Ahmed Professor BRAC Business School BRAC University Submitted by: Group- 5 |SL. |Name |ID No. |Signature | |1 |Mohammad Ishtiaque Hossain |14164090 | | |2 |Kazi Golam Faisal |14364071 | | |3 |Nurshia Jahan |13264009 | | Submission Date: November 17, 2015 LETTER OF TRANSMITTAL November 17, 2015 Dr. Salehuddin Ahmed Professor BRAC Business School BRAC University Subject: Submission of the report paper on ‘Global Financial Crisis: Recovery and Challenges’ Dear Sir, I hereby submitting the final version of the term paper on behalf of my group on ‘Global Financial Crisis: Recovery and Challenges’ that you asked us to submit on November 17, 2015 as our report paper. The paper is a part of the course Fin 603: Financial Institutions & Market under MBA program. The main purpose of this paper was to determine the theoretical aspects of global financial crisis and recovery...
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...Effect of border proximity on school performance in imperial County abstract Education in Imperial County, from the elementary to the high school level, always ranks among the lowest in the state. This constant underperformance might be due to the high level of minority enrollment throughout the county. This paper uses census and other government data along with school accountability report cards to show that border proximity negatively impacts the performance of a school. While economic and immigration factors are probably not the only reason for this, this paper uses state testing reports and population demographics to compare the schools side by side and account for the difference in school achievement. 1. Introduction The economy of Imperial County ranks among the lowest in the state. This, in turn, reflects heavily on the level of academic achievement in the three main high schools. In addition to this, the county is also home to a large immigrant population, attributed to the proximity with Mexico and large farming sector. However, it is interesting to note the difference in school performance and how they relate with how far away they are from the international border. Taking a number of factors into account, we should observe a lower level of achievement in the school closest to the border. This paper attempts to examine the relationship between school performance and immigration. Specifically, does the higher level of minority students affect academic...
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...US Financial Crisis US Financial Crisis This paper aims to describe the US Financial Crisis in terms of causes, impact, and remedial actions taken by the public and private sectors. It presents the thesis that the financial crisis is also a crisis of values that prompts a reevaluation of the premises of American capitalism. In particular, that prosperity is the foundation of peace and order. A review of literature provides the basis for a short commentary on the subject. Preliminary review of literature on the subject brings to fore some distinct patterns in consumer and investors behavior that make them peculiarly venerable. First is the tendency of investors to join the bandwagon of speculative investment and of putting their money where others put theirs. Second is an apparent lack of understanding on the relationship between risk and returns. Third is an apparent lack of appreciation for the principles of supply and demand. The principle states that excessive supply will reduce the price and demand for a product to the advantage of the buyer, while a lack of supply will increase demand and price of a product to the advantage of the seller. Causes Economists stress the importance of tracing the root causes of the financial crisis in order to provide a systemic solution to the present financial crisis. Most references present the cause of the financial crisis to be the “subprime mortgages.” However, subprime mortgages by itself did not cause the housing bubble...
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...interest rates? The $137 million fine for bilking needy schools and cities? The ingenious plan to suck multiple fees out of the unemployment checks of jobless workers? Take your eyes off them for 10 seconds and guaranteed, they'll be into some shit again: This bank is like the world's worst-behaved teenager, taking your car and running over kittens and fire hydrants on the way to Vegas for the weekend, maxing out your credit cards in the three days you spend at your aunt's funeral. They're out of control, yet they'll never do time or go out of business, because the government remains creepily committed to their survival, like overindulgent parents who refuse to believe their 40-year-old live-at-home son could possibly be responsible for those dead hookers in the backyard. It's been four years since the government, in the name of preventing a depression, saved this megabank from ruin by pumping $45 billion of taxpayer money into its arm. Since then, the Obama administration has looked the other way as the bank committed an astonishing variety of crimes – some elaborate and brilliant in their conception, some so crude that they'd be beneath your average street thug. Bank of America has systematically ripped off almost everyone with whom it has a significant business relationship, cheating investors, insurers, depositors, homeowners, shareholders, pensioners and taxpayers. It brought tens of thousands of Americans to foreclosure court using bogus, "robo-signed" evidence – a type of...
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...The Way We Are: How Much Credit or Blame Belongs to Our Parents PSY 304 December 22, 2014 The Way We Are: How Much Credit or Blame Belongs to Our Parents When it comes to parenting and raising our kids we all want them to grow up and be responsible productive adults that contribute positively to society. Unfortunately this is not always to case, the way we raise our kids can either lead them to be positive impact on the society or they could go down the other road and have a negative impact on society. So as parents we are either too blame or given credit for how our children turn out. The parenting style you choose can have a very important impact on how your child lives as an adult. Parents are their children’s most important role models, it is important for parental control in each step of our children’s life and education. As parents we are our children’s most valuable and important role models, what they learn from us will guide who they are as adults. When our children are small one way they learn how to do things is by watching what others are doing and modeling what they do, and how they behave, this is what developmental psychologist Albert Bandura call social cognitive theory. Children are so impressionable they will model a parent’s behavior good or bad. The parenting style you use when raising your kids could have a large impact on the way they turn out as adults. According to developmental psychologist Diana Baumrind there are four different parenting styles...
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...Week 2, Chapter 2 1. Why are males more likely to have a sex-linked trait than females? Answer Men have only one X chromosome which makes the poor schleps chances of x linked traits bigger than women, who have two X chromosomes. Having two X chromosomes means that the trait can be cancelled out by the opposing X. 2 Characteristics such as hair color and height are called Answer 2 answers * phenotypes. * chromosomes. * genotypes. * zygotes. 3 A genotype Answer 3 answers * is a rodlike structure in the cell nucleus that transmits genetic information. * reflects an individual's physical and behavioral characteristics, determined both by environmental and genetic factors. * refers to the genetic makeup of an individual. * is a directly observable characteristic. 4 The DNA of humans and chimpanzees is between __________ percent identical. Answer 4 answers * 75 and 80 * 20 and 25 * 50 and 55 * 98 and 99 5 A person whose 23rd pair of chromosomes is XY Answer 5 answers * has PKU. * is male. * has Down syndrome. * cannot be a fraternal twin. 6 A zygote that separates into two clusters of cells instead of just one produces ...
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...Comprehensive Analysis Case Study Cheryl M. Todd PSY7220 Capella University Abstract This comprehensive case analysis will follow Gwen Cohen-Green through the following three stages of development: early childhood, middle childhood, and early adolescence. Within each of the three stages I will identify Gwen’s social and emotional development, theories pertaining to her development, validation, and predominate factors. A complete analysis and synthesis will support the findings, and recommendations will be given to support her. Table of Contents Introduction Case Study: Early Childhood Case Study: Middle Childhood Cased Study: Early Adolescence Analysis and Synthesis Recommendations Conclusion References 1 1-5 5-10 10-15 15-16 16-17 17 18-20 Comprehensive Analysis Case Study Introduction This study will identify the child I have chosen for my case study project and follow her through each of the following stages: early childhood, middle childhood and early adolescence. Secondly, the study will include an analysis and synthesis of developmental domains and of environmental and influential factors and finally, the study will make recommendations for optimal development. Early Childhood: Case Study Gwen Cohen-Green is an only child that lives with both her mom and dad in a suburban setting. Mom and dad both work long hours with mom being the primary parent to attend conferences as well as being the disciplinarian. Gwen’s parents are...
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...Research Paper Matthew Emery memery@capella.edu BUS3004 Developing a Business Perspective Lynn MacBeth 08/12/2012 Too Big to Stay Introduction A financial institution so interwoven in the fabric of the national economy that its failure could cause a massive ripple effect is deemed “too big to fail”. Unfortunately for the taxpayers, their hard earned dollars are the only thing between salvation and failure for these companies. Poor management or industry instability can ruin any business, but the larger an institution gets, the larger the collateral damaged induced by their failure will be. It is the duty of a responsible government to never leave their citizens vulnerable to such a catastrophe. The goal of this paper is to prove that too big to fail policy is what turned a period of stagnant growth into the worst financial crisis since the Great Depression. It is a well known fact that the housing market and therefore the United States economy started slipping in late 2007. As the economy was faltering, it still managed to not slip into recession status until September 2008. It is lees than coincidental that America's fifth largest financial institution, Lehman Brothers, filed for bankruptcy on September 15, 2008, the very same time the economy plummeted. The instability of the market led to runs on banking institutions, which in turn led to more bank failures, which led to massive bailouts. These bailouts, while helpful at the time, lead to unprecedented...
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...Enablers of Exuberance Jennifer S. Taub Sept. 4, 2009 DISCUSSION DRAFT Enablers of Exuberance: Legal Acts and Omissions that Facilitated the Global Financial Crisis Jennifer S. Taub1 I. Introduction This paper explores certain legal acts and omissions that facilitated the over-leveraging and near collapse of the global financial system. These ―Legal Enablers‖ fostered the boom that enriched a class of financial intermediaries who followed a storied tradition of gambling away ―other people‘s money.‖2 These mechanisms also made the pain of the bust disproportionately felt by the middle class and poor while shielding the middlemen who created the problems. These legal Enablers permitted the growth of a shadow banking system, without investment limits, transparency or government oversight. In the shadows grew a variety of highly leveraged private investment pools, undercapitalized conduits of securitized loans and speculation in complex credit derivatives. The rationale for allowing this unregulated, parallel system was that it helped to create innovation and provide liquidity. The conventional wisdom was that any risks associated with a hands-off approach could be managed by the ―invisible hand‖3 of the market. In other words, instead of public police, it relied upon private gatekeepers. A legal framework including legislation, rules and court decisions supported this system. This legal structure depended upon corporate managers, counterparties, ―sophisticated investors‖ and the...
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...highlighted throughout “Generation Me”. “Generation Me” discusses the attitudes and societal views of the younger generation; there has been a major shift in thoughts throughout the past decades of generations. This change of thought among the various generations is seen through the attitudes, political views, and social awareness of individuals within each group. Family traditions as well as cultural values do not hold nearly as much importance as they have in past generations. Younger generations are concerned more about their personal commitments and their own life rather than belonging to a larger group. In past generations family was viewed as being extremely important; however, in current generations families are no longer as close-knit as they used to be and therefore do not hold as much value as they should. Family traditions do not stick and are not carried out for second and third generation American citizens. Younger generations have in a sense become more “Americanized” than their grandparents or even great-grandparents ever were. With the passing of decades, family traditions and celebrated holidays have greatly declined; during holidays my grandmother does majority of the cooking. She does not use a lot of processed or ready-to-cook foods, rather she makes everything from scratch the way that she was taught when she was younger. Her mother, or my great-grandmother, came to America as an adult and therefore was used to cooking typical Polish dishes such...
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...Management 200 Dawson Study Guide-After Midterm Spring 2014 Extensive List of Concepts: starting Week 7 of the quarter -Civil Law and Litigation What types of evidence is there? What are the rules of evidence? What are the requirements for evidence to be admissible in court? Explain how evidence can be excluded (exclusionary rules) What are the types of privileged evidence? -Torts What is a tort? Name the different types of torts What happened in the McDonalds story discussed in class? Explain Intentional Torts: Battery, Assault, Mental Distress Explain what elements are required for a tort to be negligent What is professional negligence? What are defenses to negligence? Compare and contrast Contributory Negligence and Comparative Negligence What is strict liability? What is products liability? -Contracts What is a contract? What are the types of contracts? Details about executory, enforceable, void, express, implied, and voidable What are requirements of contracts? What happens when a contract is breached? -Real Property What things are considered real property? What is an interest in real estate? Details about fee simple absolute, leasehold, life estate, joint tenants, subsurface interests, above surface interests, easement, and restrictive covenants What is a deed? Details about Statutory Warranty and Quit Claim What is title insurance? What are the types of title insurance? Know the process for buying a house, with a lender, with a contract ...
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...I. United States of America economic history In order to successfully move forward, we need to look to the past. The country’s economic history is like all history, meaning that it examines and observes the past activities of mankind (Fite 4). The most significant periods in the United States economic history are actually the three centuries before England settled in America. There were four changes happening in Western Europe that have greatly influenced America. Those changes were economic, political, religious, and intellectual (Fite 15). So why were these changes so important? They were the reasons that England decided to explore and expand in the western part of the world. The decision to expand trade and commerce was the most important advancement in the history of economics (Fite 15). From the time that the Virginia colonies were settled in 1609 up until 1890, farming was the most important aspect of the United States economy (Fite 30). Although manufactured products were worth more than products produced on a farm for the first time in 1889, farming was how the majority of Americans made a living (Fite 30). Despite the fact that agriculture dominated in these early years and the industrialization of the colonies was well under developed, “there was a high degree of specialization in the colonial economy” (Fite 63). For example, there were tobacco crops in the southern colonies which were crops that produced money, and in the northern colonies there was international...
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