VanEd Newslog

Finance Friday: Federal Reserve Board announces independent foreclosure file review - video for consumers

The Federal Reserve Board on Wednesday announced the availability of a new video that explains how borrowers who believe they were financially harmed during the mortgage foreclosure process in 2009 and 2010 can apply for a free, independent foreclosure file review.

Both English and Spanish versions of the video are available for viewing on the Federal Reserve Board's website and on YouTube.

The brief announcement reminds borrowers that, as part of the enforcement actions taken in April 2011 by federal banking regulatory agencies, they may be eligible to receive compensation if the independent review finds evidence of direct financial injury due to servicer error. Borrowers are eligible for a review if their primary residence was in the foreclosure process in 2009 or 2010 and their mortgage loan servicer is participating in the Independent Foreclosure Review. The list of participating servicers can be found at: www.IndependentForeclosureReview.com or at www.federalreserve.gov/consumerinfo/independent-foreclosure-review.htm

The deadline to request a foreclosure review is July 31, 2012. For more information, borrowers may call 888-952-9105 or visit www.IndependentForeclosureReview.com. The video below can be shared with consumers or clients who may be eligible for assistance through the review process.

Our top story picks this week include good news from the FHA, appraisal opinions and speed traps

While many were at the Midyear meetings and others were taking care of graduation parties and other events leading up to Memorial Day Weekend (yes, that's this coming weekend) there was still some news that happened. Here are some recent stories that we found interesting;

Verizon caught our eye when it announced that it was moving to end unlimited data plans. As people move to the 4G network they will need to select a tiered plan to join. We aren't sure how many people in the industry will be affected by this but with the explosion of mobile tools in real estate this is sure to become something we all need to pay attention to.

REEA, The Real Estate Educators Association, announced that the cancelled 2012 annual conference was rescheduled for August 10-13 and will be held in Kentucky on the campus of Morehead State University. This is good news for educators and the recent webinar hosted by REEA also showed how the organization was moving forward. Great job by the current BOD. Exciting things are ahead, instructors can learn more at http://REEA.org.

Have you seen Trapster yet? find speed traps, photo radar and even road closures with this app. Available for Android, iPhones and even Blackberry this app uses crowd sourcing for something positive: fewer tickets! http://www.trapster.com/ (Since over 15 million people have this app already maybe it was just us that missed it...)

Built in 1592, The Crooked House of Windsor has a long and colorful history. We enjoyed the photos of the house as well as the story. http://bit.ly/KhISfm

The Federal Housing Administration (FHA) announced that they would be changing lending policies relating to condominiums. This is good news as the current restrictions, originally implemented before 2010, seem to be limiting the availability of affordable financing for many projects and first time homebuyers. The ... interesting? ... news was that there was no time line announced for the changes, just that they would be "very, very soon".

This wasn't the only news from the FHA recently as they also announced that the National Servicing Center (NSC) would begin offering Preforeclosure Program (PFS) Training for Real Estate Professionals. Learn more about these regional events online here - http://bit.ly/J4XjHb.

One important study we saw (and took a great interest in) finds that drinking coffee can extend your life. Read more online at http://bit.ly/L3uMO8.

And appraisers recently got a look at the Appraisal Practices Boards (APB) Valuation Advisory #3: Residential Appraising in a Declining Market http://bit.ly/IYWP1I.  

For more updates and information follow VanEd on any of our other social networks below. 

 

Finance Friday: The History of the Federal Reserve

Originally aired live in March, we are re-running the four-part lecture series presented at George Washington University by Federal Reserve Chairman Ben S. Bernanke. Today we revisit all four parts of the series.

In March 2012, Chairman Ben S. Bernanke delivered a four-part lecture series about the Federal Reserve and the financial crisis that emerged in 2007. The series began with a lecture on the origins and missions of central banks, followed by a lecture that discussed the role and actions of the Federal Reserve in the period after World War II. In the final two lectures, the Chairman reviewed some of the causes of, and policy responses to, the recent financial crisis, focusing specifically on the actions of the Federal Reserve.

The lectures were offered as part of an undergraduate course at the George Washington University School of Business.

On-demand video, transcripts, and presentation slides are available for each lecture.

Related reading list (PDF)

Lecture 1: Origins and Mission of the Federal Reserve 

Lecture 2: The Federal Reserve after World War II

Lecture 3: The Federal Reserve's Response to the Financial Crisis

Lecture 4: The Aftermath of the Crisis

Use the links below to view the series videos, find lecture handouts and watch the student Q&A sessions.

Origins and Mission of the Federal Reserve

The Federal Reserve after World War II

The Federal Reserve's Response to the Financial Crisis

The Aftermath of the Crisis

Finance Friday (Rewind): Fed Chairman Bernanke delivers Part Four of a four-part series on the Federal Reserve

Originally aired live in March, we are re-running the four-part lecture series presented at George Washington University by Federal Reserve Chairman Ben S. Bernanke. Today we will revisit part four of the series, "The Aftermath of the Crisis".

In March 2012, Chairman Ben S. Bernanke delivered a four-part lecture series about the Federal Reserve and the financial crisis that emerged in 2007. The series began with a lecture on the origins and missions of central banks, followed by a lecture that discussed the role and actions of the Federal Reserve in the period after World War II. In the final two lectures, the Chairman reviewed some of the causes of, and policy responses to, the recent financial crisis, focusing specifically on the actions of the Federal Reserve.

The lectures were offered as part of an undergraduate course at the George Washington University School of Business.

On-demand video, transcripts, and presentation slides are available for each lecture.

Related reading list (PDF)

Lecture 1: Origins and Mission of the Federal Reserve 

Lecture 2: The Federal Reserve after World War II

Lecture 3: The Federal Reserve's Response to the Financial Crisis

Lecture 4: The Aftermath of the Crisis

In the fourth lecture, the Chairman discusses the monetary policy responses to the recession, the sluggish recovery from it, the changes in financial regulation that followed the crisis, and the implications of the crisis for central bank practice in the future.

 

Lecture Materials

 

The Aftermath of the Crisis (PDF)

Finance Friday (Rewind): Fed Chairman Bernanke delivers Part Three of a four-part series on the Federal Reserve

Originally aired live in March, we are re-running the four-part lecture series presented at George Washington University by Federal Reserve Chairman Ben S. Bernanke. Today we will revisit part three of the series, "The Federal Reserve's response to the financial crisis".

In March 2012, Chairman Ben S. Bernanke delivered a four-part lecture series about the Federal Reserve and the financial crisis that emerged in 2007. The series began with a lecture on the origins and missions of central banks, followed by a lecture that discussed the role and actions of the Federal Reserve in the period after World War II. In the final two lectures, the Chairman reviewed some of the causes of, and policy responses to, the recent financial crisis, focusing specifically on the actions of the Federal Reserve.

The lectures were offered as part of an undergraduate course at the George Washington University School of Business.

On-demand video, transcripts, and presentation slides are available for each lecture.

Related reading list (PDF)

Lecture 1: Origins and Mission of the Federal Reserve 

Lecture 2: The Federal Reserve after World War II

Lecture 3: The Federal Reserve's Response to the Financial Crisis

Lecture 4: The Aftermath of the Crisis

In the third lecture,the Chairman describes the financial stability policy responses taken by the Federal Reserve and others in the wake of the crisis and recession.

Lecture Materials

 

The Federal Reserve's Response to the Financial Crisis (PDF)

National Flood Insurance Program set to expire. Again.

After Fall legislative action the government funded National Flood Insurance Program (NFIP) through May 31st of 2012. This gave the NFIP a reprieve and it stayed on life support ~ again. Until now.

In an April 23rd press release FEMA, the Federal Emergency Management Agency, requested a long-term extension asking congress for a two year extension of the program. FEMA also reports that besides the inability to write new policies, if there is a lapse in authorization that diminishes income to the program and payments to recent flood victims might be delayed or even halted. 

There are a large number of real estate transactions that require flood insurance coverage and NAR reports that approximately 40,000 transactions per month would be placed in jeopardy by a failure of Congress to pass any reauthorization of the NFIP. You can read the FEMA press release by clicking here.

In a fall publication Henry Harrison wrote about the NFIP as wll as his personal experience with Hurricane Irene and with FEMA personel, whom he described as "professional, courteous and genuinely helpful." He concluded his article with the following statement; "Seems Congress is once again playing brinksmanship with America's flood insurance program. After our recent experience, that doesn't seem wise to us."

You can read more from Henry's October 2011 article at http://www.revmag.com/.

Finance Friday (Rewind): Fed Chairman Bernanke delivers Part Two of a four-part series on the Federal Reserve

Originally aired live in March, we are re-running the four-part lecture series presented at George Washington University by Federal Reserve Chairman Ben S. Bernanke. Today we will revisit part two of the series, "The Federal Reserve after World War II".

In March 2012, Chairman Ben S. Bernanke delivered a four-part lecture series about the Federal Reserve and the financial crisis that emerged in 2007. The series began with a lecture on the origins and missions of central banks, followed by a lecture that discussed the role and actions of the Federal Reserve in the period after World War II. In the final two lectures, the Chairman reviewed some of the causes of, and policy responses to, the recent financial crisis, focusing specifically on the actions of the Federal Reserve.

The lectures were offered as part of an undergraduate course at the George Washington University School of Business.

On-demand video, transcripts, and presentation slides are available for each lecture.

Related reading list (PDF)

Lecture 1: Origins and Mission of the Federal Reserve 

Lecture 2: The Federal Reserve after World War II

Lecture 3: The Federal Reserve's Response to the Financial Crisis

Lecture 4: The Aftermath of the Crisis

In the second lecture, the Chairman reviews developments in central banking since World War II and leading up to the recent financial crisis.

Lecture Materials

 

The Federal Reserve after World War II presentation (PDF) 

Finance Friday (Rewind): Fed Chairman Bernanke delivers Part One of a four-part series

Originally aired live in March, we are re-running the four-part lecture series presented at George Washington University by Federal Reserve Chairman Ben S. Bernanke. Today we will begin with part one of the series, "Origins and Mission of the Federal Reserve".

In March 2012, Chairman Ben S. Bernanke delivered a four-part lecture series about the Federal Reserve and the financial crisis that emerged in 2007. The series began with a lecture on the origins and missions of central banks, followed by a lecture that discussed the role and actions of the Federal Reserve in the period after World War II. In the final two lectures, the Chairman reviewed some of the causes of, and policy responses to, the recent financial crisis, focusing specifically on the actions of the Federal Reserve.

The lectures were offered as part of an undergraduate course at the George Washington University School of Business.

On-demand video, transcripts, and presentation slides are available for each lecture.

Related reading list (PDF)

Lecture 1: Origins and Mission of the Federal Reserve 

Lecture 2: The Federal Reserve after World War I

Lecture 3: The Federal Reserve's Response to the Financial Crisis

Lecture 4: The Aftermath of the Crisis

In the first lecture, the Chairman explains what central banks do, the origin of central banking in the United States, and the early experience of the Federal Reserve in dealing with a serious financial crisis: the Great Depression.

Lecture Materials

 

Origins and Mission of the Federal Reserve presentation (PDF)

Need help with tax questions? Use the IRS YouTube Videos to find Last-Minute help

The following was released by the IRS. We thought it would be helpful to repost it for you.

WASHINGTON — The Internal Revenue Service reminds taxpayers that IRS YouTube videos can help them with their taxes before the April 17, 2012, deadline. The IRS channels offer information on a variety of the most frequently asked taxpayer questions at this time of year.

Videos are available in English, Spanish and American Sign Language. Among the hot topics for last-minute filers:

Need More Time to File Your Tax Return? English | Spanish | ASL

Last-Minute Tax Tips English | ASL

IRS Tax Payment Options English | Spanish | ASL

Owe Taxes But Can't Pay? English | Spanish | ASL

When Will I Get My Refund? English | Spanish | ASL

The three IRS YouTube channels are home to hundreds of videos on subjects ranging from how to choose a tax preparer to how to efile your taxes for free.

The IRS YouTube channel in English is the fourth most viewed U.S. government YouTube channel. Since its debut in August 2009, there have been more than 3.1 million views.

Taxpayers can subscribe to the channels to receive notice of new video offerings year-round. The videos are also available on the IRS’s phone app, IRS2Go.

Finance Friday: Wait...why is tax day April 17th this year? (Hint: it's because of Emancipation Day)

This post originally ran on January 4th, 2012. With some of us still trying to finish our own taxes we thought it would be nice to remind everyone about the two extra days we get to file this year. So why do we get those? Read on...

WASHINGTON — The Internal Revenue Service today opened the 2012 tax filing season by announcing that taxpayers have until April 17th, 2012 to file their tax returns. This is because April 15th falls on a Sunday and on Monday, April 16th, Washington D.C. celebrates Emancipation Day (we didn't know about it either, but you can learn more by clicking here).

The IRS encourages taxpayers to e-file as it is the best way to ensure accurate tax returns and get faster refunds. The IRS also announced a number of improvements to help make this tax season easy for taxpayers. This includes new navigation features and helpful information on IRS.gov and a new pilot program to allow taxpayers to use interactive video to get help with tax issues.