Professor David Reiss in Support of Privatizing Government-Sponsored Entities
Professor David Reiss has again been quoted for his support of privatization as an alternative to the current state of government-sponsored entities Fannie Mae and Freddie Mac. Speaking to financial news website GlobeSt.com, Profesor Reiss dismissed the idea that a strong government presence in the real estate finance market is truly necessary to prevent its collapse.
Professor David Reiss Comments to Bloomberg on Succession of Outgoing Financial Watchdog Benjamin Lawsky
Professor David Reiss, a real estate finance and consumer protection expert, commented to Bloomberg on the impending departure of Benjamin Lawsky, New York State's first Superintendent of Financial Services. Praising Lawsky's work in the position, Professor Reiss expressed hope that Governor Cuomo will appoint an equally dynamic successor.
Professor David Reiss Featured for Commentary on the Future of Fannie Mae and Freddie Mac
A recent article by Professor David Reiss, Who Should Be Providing Mortgage Credit to American Households?, is the basis of a new personal finance study suggesting possible futures of Fannie Mae and Freddie Mac, the troubled government-sponsored entities that were at the center of the 2008 subprime mortgage crisis. Critiquing the federal government's use of taxpayer funds to keep these entities afloat, Professor Reiss suggests that privatization of Fannie Mae and Freddie Mac could be a better long-term solution.
Professor David Reiss in MainStreet on Regulatory Implications of AirBnB
Professor David Reiss has been quoted by popular personal finance website MainStreet on the burgeoning regulatory debate around "sharing economy" services like AirBnB, a website for short-term private apartment rentals that may threaten New York City's affordable housing programs.
Professor David Reiss on Mortgage Refinancing After Fed Ends Bond-Buying Program
Professor David Reiss, a sought-after expert on mortgages and other consumer financial services, commented to The Fiscal Times on the implications for mortgage refinancing of the Federal Reserve's recent decision to end its bond-buying stimulus program.
Professor David Reiss on the End of the Federal Reserve's Bond Buying Program
Professor David Reiss, an oft-quoted expert on mortgage finance, commented to the Trentonian on challenges for consumers in light of the Federal Reserve's recent decision to end its six-year economic stimulus program of bond buying.
Professor David Reiss in Inc. on Legal Pitfalls for Entrepreneurs
Professor David Reiss, recently appointed Research Director of Brooklyn Law School's Center for Urban Business Entrepreneurship (CUBE), was quoted extensively by startup news website Inc. on the legal challenges most common to new ventures, including real estate contracts, choice of corporate form, operating agreements, and intellectual property protections.
Professor David Reiss Comments on State-Backed Venture Capital Fund
Professor David Reiss, recently appointed Research Director of Brooklyn Law School’s Center for Urban Business Entrepreneurship (CUBE), commented today on a new conflict between New York State officials and Long Island venture capital firm Canrock Ventures. Canrock is one of several firms under contract with state business aid agency Empire State Development, through which it has access to state and federal funds for investment in local startup companies. All such contracts include a requirement, allegedly violated by Canrock, that the venture capital firm create a “valuation committee” to review the soundness of its investments. Quoted as an expert on the issue, Professor Reiss questioned the efficacy of such a requirement, suggesting that more hands-on enforcement might be needed to deter fraud.
Professor David Reiss Hosts C-SPAN Panel Discussion on City Planning
On September 21, 2014, Brooklyn Law School opened its doors to book lovers as a Cultural and Programming Partner of the 9th annual Brooklyn Book Festival, New York City’s largest free literary event. Professor David Reiss, Director of the Law School’s Community Development Clinic and a frequent commentator on related policy issues, moderated a discussion of city planning in a borough of nonstop growth and redevelopment. The panel event was taped and broadcast by C-SPAN 2.
Professor David Reiss Comments to Treasury Department on Private Label Securities
<div>Professor David Reiss, a sought-after expert on affordable housing policy and mortgage finance, submitted public comments to the Department of the Treasury on the financially responsible regulation of a market for private label securities. The PLS market is an alternative to government-backed mortgages for which Professor Reiss has advocated in a variety of scholarly articles and at REFinBlog.com
Professor David Reiss Comments to Federal Housing Authority on Housing Counseling Pilot Program
Professor David Reiss, an expert on real estate finance and affordable housing policy, submitted written public comments on the Federal Housing Authority's proposed Homeowners Armed with Knowledge (HAWK) for New Homebuyers pilot program, which would establish housing counseling for new borrowers from the FHA. In his comments, Professor Reiss questions the efficacy of such counseling and recommends further government study of the issue in lieu of the proposed program.
Professor David Reiss Featured as Leading Commentator in Media
Among the most dominant issues in any news cycle are housing policy, real estate finance, and consumer protection. As a leading authority in these and other areas, Professor David Reiss is regularly called upon to share his expertise, appearing in approximately 70 prominent news stories in the past year.
Professor David Reiss Interviewed by Bloomberg Industries on Fannie Mae/Freddie Mac Litigation
Professor David Reiss, in an extensive audio interview with Bloomberg Industries, analyzed the pending litigation between the federal government and investors in Fannie Mae and Freddie Mac. Among a variety of issues, Professor Reiss addressed the implications of the suit for both the private financial sector and government-sponsored entities at large.
Professor David Reiss Sought After By Media for Real Estate/Consumer Finance Law Expertise
Professor David Reiss continues to be highly sought-after for his expertise in real estate, real estate finance law, and consumer financial services law. Among the numerous media outlets to recently feature his commentary are ABC News, Mainstreet.com, and Nation Swell.
Professor David Reiss Comments on Credit Suisse Case in Bloomberg Article
Professor David Reiss was quoted extensively in today’s Bloomberg article on Credit Suisse, the current target of New York Attorney General Eric Schneiderman in his pursuit of Wall Street banks for mortgage fraud. Credit Suisse asked a Manhattan judge in December to dismiss the case, as well as Schneiderman's demand for as much as $11.2 billion in damages. If the bank wins, Schneiderman will face a new roadblock as he considers similar multibillion-dollar claims against a dozen other Wall Street firms.
Professor David Reiss on Mortgage Bonds in Reuters
A prominent expert in real estate and finance law, Professor David Reiss recently spoke to Reuters about the Federal Reserve’s newest promise to maintain low interest rates on investments. This pledge impacts investors who may be concerned about the safety of their bonds, especially mortgage-backed securities issued by Fannie Mae and Freddie Mac, whose futures remain unclear.
Professor David Reiss Comments on JPMorgan Settlement in Christian Science Monitor, Appears on High-Profile Panel
In a lead story in the Christian Science Monitor, Professor David Reiss commented on JPMorgan’s $13 billion civil settlement with the Justice Department – the largest such settlement ever reached between the government and a corporation. The agreement follows months of negotiations, stemming from JPMorgan’s sale of mortgage-backed securities that led to the economic crash in 2008.
Professor David Reiss Discusses the Problems of Vacated Buildings in The Herald-News
Professor David Reiss spoke to The Herald-News about uses for the shuttered Joliet Correctional Center in Joliet, IL. City leaders are struggling with the building's vacancy, due to its age, size, and historical value. Professor Reiss compared Joliet's looming problem with solutions New York developed for dealing with vacant buildings.
Professor David Reiss on Lowering Fannie Mae and Freddie Mac Loans
Professor David Reiss spoke to Law360 about the Federal Housing Finance Agency's proposal to limit the size of Fannie Mae and Freddie Mac loans. Although some experts see the decision as a step backward in the recovery of the housing market, Professor Reiss argued that the limits are necessary for relieving government support on the mortgage market.
Professor David Reiss Comments on Modern Myths About Home Buying
In a recent article by TheStreet.com, Professor David Reiss commented on the modern myth that fixed rate mortgages are the best option when buying a home. He encouraged home buyers to make honest assessments about how long they plan on owning a particular property before choosing a 30-year fixed rate mortgage, which have typically higher interest rates than short-term adjustable rate mortgages.
Professors Brad Borden and David Reiss Discuss Foreclosure Commentary in New Thomson Reuters Interview
In an interview with Thomson Reuters, Professors Brad Borden and David Reiss discussed their recent commentary “Show Me the Note!” (Westlaw Journal Bank & Lender Liability, 2013) – the title of which references a defense used to forestall or prevent a foreclosure.
Professor David Reiss on the Continued Success of FIRREA
In a recent Law360 article, Professor David Reiss commented on the continued success of the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA), in particular, the prosecution of credit agency Standard & Poor's over fraudulent ratings.
Professor David Reiss Comments on Renewed Trend of Low Credit Card Rates
Professor David Reiss recently spoke about the renewed trend of low-interest credit cards. Many consumers are wary of financing deals after 0% periods end, but Professor Reiss assures that the Credit CARD Act of 2009 protects against underhanded credit lenders.
Professor David Reiss Comments on Beltway’s “Top Complainers” Status in Baltimore Sun
Professor David Reiss was quoted in a Baltimore Sun article about Maryland’s No. 2 ranking in grievances to the Consumer Financial Protection Bureau. Second only to New Hampshire in mortgage complaints per capita, the state is also ranked third for complaints about credit cards and fifth for gripes about banks and service.
Professor David Reiss Discusses Possible Threats to the Housing Recovery on CBS News
While signs show that the housing market is finally in recovery, Professor David Reiss spoke to CBS News about several factors that may delay a full comeback. In particular, he comments on the changing role of the government in the mortgage market.
Professor David Reiss Comments on the Possible Empire State Building IPO in Bloomberg
In Bloomberg, Professor David Reiss commented on this week's vote that effectively ensures a forthcoming IPO for the Empire State Building.
Professor David Reiss on the Success of FIRREA
Professor David Reiss spoke to Law360 about recent civil cases that demonstrate the broad interpretation of the Financial Institutions Reform Recovery Enforcement Act (FIRREA). Following successful suits against Bank of America and Bank of New York Mellon Corp, Professor Reiss notes, “There seems to be a greater interest now in pursuing financial wrong doing. With FIRREA, it’s a whole new game.”
To view Noteworthy items for Professor Reiss dating prior to May 2013, please click here