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Andrew Jakabovics

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Now We’re Talking Report
The best foreclosure mediation programs are those where the state automatically schedules the first mediation session once the mortgage servicer initiates the foreclosure process. (iStockphoto)

Now We’re Talking

Report from Alon Cohen and Andrew Jakabovics examines current state-based foreclosure mediation programs and offers proposals for how to bring them to scale.

Alon Cohen, Andrew Jakabovics

A Welcome Foreclosure Plan Article
A foreclosure home for sale is shown in Spring, TX. Both judicial and nonjudicial foreclosure states reap the benefits of foreclosure mortgage mediation through faster foreclosures and stable homeownership leading to reduced vacancy, stabilization of property taxes, reduction in vandalism and squatting, and stability in surrounding home values. (AP/David J. Phillip)

A Welcome Foreclosure Plan

Helping homeowners cope with paying on mortgages more costly than their homes is the right way to tackle the foreclosure crisis, writes Andrew Jakabovics.

Andrew Jakabovics

Fourth and Inches Article
Treasury Secretary Timothy Geithner, left, grins after listening to Nicholas Tekperety of Reston, VA, foreground, share his experiences with participating in the Home Affordable Modification Program on May 14, 2009, in Washington. New mortgage relief guidelines are important steps forward but fall short of the needs of many responsible but beleaguered homeowners. (AP/Haraz N. Ghanbari)

Fourth and Inches

New mortgage relief guidelines are important steps forward but fall short of the needs of many responsible but beleaguered homeowners, writes Andrew Jakabovics.

Andrew Jakabovics

Location, Location, Location Article
New homes for sale in Chicago. New housing market data shows that housing prices may be beginning to stabilize. (AP/Charles Rex Arbogast)

Location, Location, Location

Andrew Jakabovics offers analysis of new housing data, saying that it offers mixed answers and the federal government must remain vigilant.

Andrew Jakabovics

Modifying Modifications Article
A homeowner gets help with restructuring her mortgage from a loan counselor at an event in Chicago. (AP/Damian Dovarganes)

Modifying Modifications

Treasury should authorize housing counselors to approve HAMP modifications, writes Andrew Jakabovics.

Andrew Jakabovics

Unequal Opportunity Lenders? Report
The practice of originating high-priced mortgages for minority borrowers was particularly prevalent among the 14 banks and subsidaries analyzed in this report, and the disparities persist even when looking only at high-income households. (AP/Donna McWilliam)

Unequal Opportunity Lenders?

Report from Andrew Jakabovics and Jeff Chapman shows racial disparities in higher-priced lending among the 14 largest banks and subsidiaries during the housing bubble.

Andrew Jakabovics, Jeff Chapman

Grading on a Curve Article

Grading on a Curve

Andrew Jakabovics reviews the first report on the performance of mortgage service companies charged with modifying at-risk home mortgages. There’s reason to be disappointed by some of the biggest players.

Andrew Jakabovics

Called to the Carpet Article
Treasury Secretary Timothy Geithner, right, accompanied by Housing and Urban Development Secretary Shaun Donovan, briefs reporters on the Home Affordable Modification program. (AP/Haraz N. Ghanbari)

Called to the Carpet

Mortgage servicing companies will face tough questions from the Obama administration about the slow pace of mortgage modifications amid rising foreclosures, writes Andrew Jakabovics.

Andrew Jakabovics

It’s Time We Talked Report
Given the magnitude of the foreclosure crisis and the degree to which the federal government is already invested in mortgages, the federal government should take a more direct role in providing opportunities for mediation. (iStockphoto)

It’s Time We Talked

Andrew Jakabovics and Alon Cohen argue in a report that the federal government has a role to play in expanding mediation programs for those facing foreclosure.

Andrew Jakabovics, Alon Cohen

CBO: Pollution Cuts Cost Little Article
The Laramie River Station coal-fired power plant north of Cheyenne, WY, produces about 15 million tons of carbon dioxide a year. The Congressional Budget Office announced on Friday that the average American household would spend only a very modest amount each year to reduce global warming pollution under H.R. 2454. (AP/Bob Moen)

CBO: Pollution Cuts Cost Little

Daniel J. Weiss and Andrew Jakabovics provide analysis of a just-released CBO report showing that energy reductions would have very minimal cost implications.

Daniel J. Weiss, Andrew Jakabovics

Don’t Hamper Mortgage Modifications Article
Foreclosure and for sale signs sit outside a foreclosed home in Houston, TX. The Federal Deposit Insurance Corporation and the Treasury Department need to ensure that the new Public-Private Investment Program to clean banks of toxic assets does not upend the Obama administration’s existing efforts to resolve the housing crisis. (AP/David J. Phillip)

Don’t Hamper Mortgage Modifications

The Treasury’s plan to rid banks of toxic assets should not upend the existing program to help responsible at-risk homeowners, argues Andrew Jakabovics.

Andrew Jakabovics

Sustainable Mortgage Modifications Report
In keeping with the Obama administration’s belief in transparency and accountability, reporting requirements and benchmarks in its Home Affordable Mortgage Program should be established in short order. (iStockphoto)

Sustainable Mortgage Modifications

Report from Andrew Jakabovics recommends setting clear benchmarks to measure progress and identifies possible next steps to contain the foreclosure crisis.

Andrew Jakabovics

At Last, Help for Homeowners Article
Housing and Urban Development Secretary Shaun Donovan, Treasury Secretary Timothy Geithner, and Federal Deposit Insurance Corporation Chair Sheila Bair talk prior to President Barack Obama's remarks today about the home mortgage crisis at Dobson High School in Mesa, Arizona. (AP/Gerald Herbert)

At Last, Help for Homeowners

The Obama administration’s housing plan actually helps homeowners, writes Andrew Jakabovics. Now that’s progress.

Andrew Jakabovics, David M. Abromowitz

Bank Bailouts Done Right Article
Treasury Secretary Timothy Geithner, seen here with the president, will unveil details of the Obama administration's plan for the remaining Troubled Assets Relief Program funds early next week. (AP/Ron Edmonds)

Bank Bailouts Done Right

Spending an additional $350 billion to rescue the U.S. financial system requires adhering to four basic principles, writes Andrew Jakabovics.

Andrew Jakabovics

Hank to Homeowners: Drop Dead Article
Treasury Secretary Henry Paulson stated yesterday he will not purchase mortgage-related assets under the Troubled Asset Relief Program, which is ironically the premise behind granting the program's money in the first place. (AP/Gerald Herbert)

Hank to Homeowners: Drop Dead

Treasury Secretary “Hank” Paulson is willing to buy all kinds of debt, except mortgage-related assets, observes Andrew Jakabovics.

Andrew Jakabovics

Housing Fundamentals Article
A vacant home in Cleveland has been boarded up, and writing indicates that the house has been stripped of copper. (Flickr/edkohler)

Housing Fundamentals

With 9.5 percent of newer houses vacant and prices at 2003 levels, bank bailouts alone won’t solve the housing crisis, notes Andrew Jakabovics.

Andrew Jakabovics

Neither Fair Nor Effective Article
Trader Luke Dalton watched the numbers from the trading floor at the New York Stock Exchange last week. (AP/Richard Drew)

Neither Fair Nor Effective

Treasury Secretary’s $700 billion proposal to rescue Wall Street ignores Main Street, which Congress needs to fix, write David Abromowitz and Andrew Jakabovics.

David M. Abromowitz, Andrew Jakabovics

Learning from the Past Report
Treasury Secretary Henry Paulson briefs reporters about efforts to heal the crisis in the U.S. financial markets at the Treasury Department today. (AP/J. Scott Applewhite)

Learning from the Past

CAP paper from Ellen Seidman and Andrew Jakabovics lays out how to deal with distressed mortgages and other debts to begin coping with the current financial crisis.

Ellen Seidman, Andrew Jakabovics

Another Predictable Black Monday Article
A worker levels dirt for a light rail bridge construction project over the Willamette River in Portland, Oregon, Friday, October 5, 2012. (AP)

Another Predictable Black Monday

Unsupervised financial markets led to today’s crisis on Wall Street, just as unsupervised mortgage lending led to today’s housing crisis, writes Andrew Jakabovics.

Andrew Jakabovics

Crisis Averted but Unresolved Article
Treasury Secretary Henry Paulson announces the bailout of mortgage giants Freddie Mac and Fannie Mae at a news conference on September 7, 2008. (AP/Susan Walsh)

Crisis Averted but Unresolved

Government rescue of Fannie Mae and Freddie Mac will not by itself resolve the U.S. housing crisis, argues Andrew Jakabovics.

Andrew Jakabovics

New Housing Data Sobering Article

New Housing Data Sobering

Four out of five homeowners live in metropolitan areas experiencing price declines, according to new analysis by Andrew Jakabovics. Housing legislation in Congress requires swift passage.

Andrew Jakabovics

Jump-Starting Local Economies Article

Jump-Starting Local Economies

By providing neighborhood stabilization funds to buy shuttered homes, Congress has the opportunity to create good jobs and stimulate local economies, writes Andrew Jakabovics

Andrew Jakabovics

Bailout Fantasies Article
Neighborhood stabilization will help those neighborhoods most affected by large numbers of foreclosures and will indirectly help struggling borrowers by reducing the number of unsold homes on the market. (istockphoto)

Bailout Fantasies

The Bush administration falsely claims that targeted aid for neighborhoods with high foreclosures amounts to a bank bailout, writes Andrew Jakabovics.

Andrew Jakabovics

Fun with Numbers, Housing Crunch Style Article

Fun with Numbers, Housing Crunch Style

Attention to November’s 0.4 percent increase in existing homes sales compared to October cannot whitewash the 20 percent drop in sales from last November. The grim reality is that there are more homes for sale on the market than last year at this time, fewer of those homes are selling, and when they do, they are selling for less money. No amount of spin from the National Association of Realtors or from the media looking for an upbeat story as we end the year is going to convince Americans that the housing market has now stabilized and is poised for a rebound.

Andrew Jakabovics

Throwing Homeowners a Lifeline Report

Throwing Homeowners a Lifeline

Andrew Jakabovics offers a solution for borrowers who can make reasonable mortgage payments but lack enough equity in their homes to refinance.

Andrew Jakabovics