Reason Writers Around Town: Anthony Randazzo in Forbes on Robo-Signed Foreclosures
Reason Foundation policy analyst Anthony Randazzo talks about foreclosure-gate in Forbes:
Nearly six months after banks were caught rubber stamping foreclosures and wrongly evicting families from their homes–a scandal since dubbed "robo-gate"–state attorneys general have indicated that an agreement on restitution could be near. But a devil lurking in the details of the settlement agreement with the major mortgage servicers could make a housing recovery much further off than it needs to be. If regulators get their way, and their proposed $20 billion pound of flesh, we could see another huge wave of mortgage defaults, shred confidence the enforcement of contracts, and potentially stop housing lending all together for the time being.