FDIC says it is monitoring trade war impact on farm loans
FDIC chairwoman Jelena McWilliams says that the regulator is closely monitoring agricultural loan delinquencies held by commercial banks over concerns that a trade war could make things worse.
After the Residential Real Estate Crisis in 2008, Lenders Went Hunting for New Meat. Businesses and Commercial Real Estate Lending. As expected, Banks offered Loans Businesses Could Not Repay, now the Foreclosure Season is Here and it’s Game On.
The Great Depression and this Court Provided Citizens Much More Empathy and Relief When Compared to The Great Recession but this Court can Effect Positive Change Moving Forward
In the last century, history has recorded three times where the United States economy dangerously faltered. In United States v. Winstar Corp., 518 U.S. 839 (1996), the first two events were summarized perfectly by Justice Souter. The third and most recent is the 2008 financial crisis, also referred to as “the Great Recession”.
In the intervening years since Winstar, new legis-lation, new regulatory bodies combined with the ad-vent of Mortgage Electronic Registration Systems (MERS), non-banks (mortgage servicers) and securit-ized “pooled” loans (residential mortgage backed securities) have negatively and materially impacted how mortgage loans are processed and recorded.
The Great Depression is remembered by this Courts’ decision in Home Building & Loan Association v. Blaisdell, 290 U.S. 398 (1934), which provided farmers, businesses, citizens, and ultimately the economy, much needed relief by staying foreclosures and making mortgage payments affordable for the long-term. To-date, there has been no such repeat of Blaisdells’ successfully implemented relief for homeowners.
Instead, it has been chaos. Banks have committed loan forgery and fraud in order to sell mortgages onto investors. Then they have frequently engaged in judicial estoppels over the last decade, redesigning their arguments when seeking claims for damages in civil actions for investors, yet shamelessly rely on the same ‘faulty and fraudulent’ evidence in Courts to foreclose on homeowners.
Respectfully, the Petitioners case is the right vehicle to obtain definitive answers and closure for distressed and deserving Texas homeowners.