{"id":2446,"date":"2011-04-14T02:53:57","date_gmt":"2011-04-14T02:53:57","guid":{"rendered":"0"},"modified":"2011-04-14T02:55:50","modified_gmt":"2011-04-14T02:55:50","slug":"if_youre_not_ou_1","status":"publish","type":"post","link":"https:\/\/marcdanziger.com\/?p=2446","title":{"rendered":"If You&#8217;re Not Outraged, You&#8217;re Not Paying Attention  (Again)"},"content":{"rendered":"<p>The regulators are letting the bad guys off the hook &#8211; again. <a href=\"http:\/\/www.washingtonpost.com\/business\/economy\/regulators_mortgage_services_agree_on_reforms\/2011\/04\/13\/AFtQxsWD_story.html?wprss=rss_politics\" target=\"browser\">From the Post<\/a>:<\/p>\n<blockquote><p><i>Three federal agencies announced agreements with the nation&#8217;s largest mortgage servicers Wednesday that aim to stem shoddy foreclosure practices. But the plans do not immediately impose financial penalties on the companies or force them to reduce the mortgage debt for troubled borrowers.<\/p>\n<p>The deals require the mortgage servicers to identify and compensate borrowers who suffered financial harm, but the details have not yet been decided. The companies must also provide a single point of contact for struggling borrowers, many of whom complain of getting the runaround when they try to get help. Servicers also would not be able to foreclose on borrowers after granting them a loan modification.<\/i><\/p><\/blockquote>\n<p>Look, it&#8217;s simple. When the regulators work for the regulated &#8211; <a href=\"http:\/\/nymag.com\/news\/business\/wallstreet\/peter-orszag-2011-4\/\" target=\"browser\">or at least plan to do so in their next career cycle<\/a> &#8211; public choice theory makes it unlikely that those of us on the outside are going to get much out of the arrangement.<\/p>\n<p>And the facts seem to be bearing that out.<\/p>\n<p>(and yes, I know about the states AG actions &#8211; but unless someone shows me different, keeping this pendant until those were settled would give another lever to move things with).<br \/>\n&#8211;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The regulators blink &#8211; again.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/posts\/2446"}],"collection":[{"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2446"}],"version-history":[{"count":0,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=\/wp\/v2\/posts\/2446\/revisions"}],"wp:attachment":[{"href":"https:\/\/marcdanziger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/marcdanziger.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}