Abstract About 40 million Americans have mortgages serviced by escrow accounts. Yet escrow accounts are rarely covered by an explicit agreement between borrower and lender and are often poorly understood. As a result, escrow accounts have become the subject of growing controversy. Federal regulation of escrow accounts has become increasingly detailed and intrusive during the past two decades, and the subject is under almost continuous regulatory review. In the 1990s, the attorneys general of at least 10 states have sued large escrow account servicers over administration of accounts. The purposes of this article are to explain briefly how escrow accounts work, benefit relevant parties, and are regulated by federal agencies, and to evaluate alternative regulatory programs. Most of the legitimate social goals of federal regulation could be achieved by requiring an explicit escrow agreement at the time of closing on a mortgage. A second‐best requirement would be that interest be paid on escrow balances. 相似文献
Abstract After discussing the article by Stegman et al., this comment describes the barriers to preventive servicing for securitized residential loans and assesses the importance of loan modifications, given the recent increases in default and foreclosure rates for subprime loans. Several hurdles slow or reduce such modifications, even those that help borrowers and investors alike. For example, self‐interest may reduce servicers’ willingness to modify loans rapidly. In addition, underlying securitization agreements may impede servicers’ ability and discretion in this area. Further, tax laws that govern a common securitization entity may limit modifications, as may accounting standards. Finally, “tranche warfare,” the sometimes contradictory fiduciary duties servicers have toward investors holding different tranches of securitized pools, may decrease their ability or their willingness to modify loans. This comment concludes that barriers to effective loan modifications should be reduced or eliminated where feasible, but that the securitization of subprime loans creates risks for borrowers. 相似文献
The Coder (Special) Branch was created to meet the needs of the Navy in gathering Russian language intelligence in the early years of the Cold War. It also supported a national signals intelligence effort coordinated by GCHQ. The article explores our recruitment, brief cryptography training, lengthy training in the Russian language, radio training, and our work in monitoring radio traffic at the radio stations set up in north Germany, first at Cuxhaven, later at Kiel. It concludes with a brief discussion of theIsis case at the central criminal court in London which arose from one of the first unauthorized discussions of these sorts of activities. This case ended with the successful prosecution of two former Coders for breaching the Official Secrets Act. 相似文献
Although research has yielded mixed findings regarding the effectiveness of intervention programs for partner-violent men, it appears that greater participant compliance with such programs is associated with better outcomes. However, no research to date has jointly examined compliance with intervention programs and the extent to which partner-violent men learn specific information presented during the programs. The current study makes use of existing data to evaluate general and specific elements of partner-violent men's compliance with (i.e., active, appropriate participation in) an intervention program and recall of key points from the program. Results from a subsample of 22 men indicate that at program termination, those rated as having been "process conscious" during intervention group sessions, having self-disclosed during sessions, having evidenced awareness and use of techniques to avoid violence, and having used respectful language show greater recall of material taught in the program. This finding points to the potential benefit of taking steps to increase men's active participation in programs and of studying active engagement as a mediator of program effects on men's violence toward partners. 相似文献
All 50 states have laws requiring mental health and other professionals to report suspected maltreatment. Unfortunately, many professionals who are mandated to report suspicions of child maltreatment often fail to recognize potential maltreatment or fail to report their suspicions. The present study examines several factors that may influence identification and reporting of child maltreatment. Subjects were licensed psychologists in the Midwest and certified Masters social workers in Nebraska. Child maltreatment included neglect, physical abuse, psychological maltreatment, and sexual abuse. Characteristics associated with the family or “case” (race, socioeconomic status of family, age of victim, type of maltreatment) were manipulated and presented in hypothetical case vignettes. Characteristics of the professional (e.g., training and experience with identification and reporting, personal history of maltreatment and violence) were also investigated. Ratings of the severity of the potential maltreatment situation, suspiciousness that maltreatment is occurring, and likelihood of reporting maltreatment were completed after reading each case vignette. The results indicate that a variety of case and professional factors may influence identification and reporting of maltreatment. Implications for training professionals and further research are discussed.相似文献
This study explores the utility of a sociological model of social organization developed by Best and Luckenbill (1994) to classify the radicalization processes of terrorists (i.e., extremist perpetrators who engaged in ideologically motivated acts of violence) who are usually categorized as loner or lone wolf attackers. There are several organizational frameworks used to define or classify violent acts performed by individuals who may or may not have ties to extremist groups, but these studies largely ignore the role of social relationships in radicalization and the extent to which they inform our knowledge of terror. To address this gap, we apply the Best and Luckenbill model of social organization using a qualitative analysis of three case studies of four lone actor or small cell terrorists. The findings demonstrate lone actors are not always true loners in the context of radicalization, and highlights the ways that the Internet and social ties foster the radicalization processes of terror.
What is the most effective framework for analyzing complex accountability challenges within governing networks? Recognizing the multiscale and intersector (public, private, and nonprofit) characteristics of these networks, an accountability model is advanced organized around democratic (elected representatives, citizens, and the legal system), market (owners and consumers), as well as administrative (bureaucratic, professional and collaborative) relationships. This concept draws from 2005 events following Hurricane Katrina. Multiple failures of governing networks to plan for and respond to Katrina include a breakdown in democratic, market, and administrative accountability as well as a pervasive confusion over trade‐offs between accountability types emerging from crises. This essay offers several useful recommendations for emergency management planners as well as for those who teach and research.相似文献