worse earlier today i was joined by debbie goldberg special project director with the national fair housing alliance i asked her for her take on this report. well you know this is actually a redo of an enforcement action that the fed and the controller of the currency entered into with the actually fourteen banks of which these ten are part and then there's another four that haven't signed on to this yet over a year ago now that was designed to go back and look at the loans that were in foreclosure not necessarily completed foreclosure but in some stage of foreclosure in two thousand and nine and two thousand and ten because their initial look had indicated that there were widespread problems with the way those foreclosures were handled and that those problems resulted in harm to consumers and the original action with something they called the independent foreclosure review or i.f.r. was designed to find those people who had been harmed and compensate them for the harm that they had experience in dollar amounts that range from zero but other things being changed up to a maximum of one hundred twenty

this next question is for lisa rice of the national fair housing alliance.isa, most folks would generally agree that underwriting standards were far too loose in the leadup to the crisis and that they're currently too restrictive. what does this rule mean for extending access into the nonprime mortgage space going forward? >> thank you for the question. i'm reminded of the first predatory lending case that i worked on. this was in the early 1990s. it involved a senior citizen, a single female head of household who had owned her home in toledo, ohio, for years, for decades. she had a prime mortgage that she had been paying faithfully. she had stellar credit. she was convinced to refinance out of that prime sustainable mortgage, fixed rate mortgage with charter one bank into a subprime loan to get a debt consolidation loan, and she was convinced to do this because the lender told her you're going of to have just one payment x. that really appealed to her because she was on a fixed income. the lender was going to pay off all her other debt. well, of course, you

rice of the national fair housing alliance. most folks would generally agree that underwriting standards were far too loose in the lead up to the crisis, and they're currently too restrictive. what does this rule mean for extending access into the non- prime mortgage space going forward? >> thank you for the question. i am reminded of the first predatory lending case that i work done -- the early 1990's. it involved a senior citizen, a single female head of household who had known her home in toledo for years, for decades. she had a prime mortgage she had been paying faithfully and had stellar credit. she was convinced to refinance out of that prime sustainable mortgage, fixed-rate mortgage, with charter one bank. into a subprime loan to get a debt consolidation loans. she was convinced to do this because the lender told her she would have just one payment, and that really appealed to her because she was on a fixed income. she was going to pay off for other debt. you know the story -- at the closing table, all of the terms and

nation's worst housing crisis. the rules establish a tiered system, one where some loans have the presumption and others have a safe harbor. the national fair housing allianceario which all loans would have a very strong presumption because we felt that would lend the greatest protection to consumers. remember that in that mortgage transaction it's always the lender that has superior knowledge over the consumer and the transaction. so, we have to be very vigilant and ever mindful and watchful with the system to make sure that the clearing of the mortgage doesn't perpetuate a situation where we have furtherance of the dole credit markets. we of course don't have to look any further than right here in this city of baltimore for evidence of the effect of the old mortgage market. one of the largest cases of discrimination was brought by the city of baltimore on behalf of its african-american and latino residents who had received some prime and higher cost sustainable mortgages when they actually qualified for the lower-cost and sustainable mortgages. hud, doj and others have brought a fair record of claims revealing hundreds of thousands of borrowers were discr

rice of the national fair housing alliance.most folks would generally agree that underwriting standards were far too loose in the lead up to the crisis, and they're currently too restrictive. what does this rule mean for extending access into the non- prime mortgage space going forward? >> thank you for the question. i am reminded of the first predatory lending case that i work done -- the early 1990's. it involved a senior citizen, a single female head of household who had known her home in toledo for years, for decades. she had a prime mortgage she had been paying faithfully and had stellar credit. she was convinced to refinance out of that prime sustainable mortgage, fixed-rate mortgage, with charter one bank. into a subprime loan to get a debt consolidation loans. she was convinced to do this because the lender told her she would have just one payment, and that really appealed to her because she was on a fixed income. she was going to pay off for other debt. you know the story -- at the closing table, all of the terms and c

want to let you know the national fair housing alliance says this is not a great deal.hey gave me a quote. the cash payments is wholly inadequate in light of the scale of the recall ha. the banks will go forward. this thing will behind them. back to you. melissa: adam shapiro, thanks so much. lori: switching gears here, sports. my next guest says tonight's big bcs title game is shaping up to be the perfect storm for advertisers, schools, conferences. win or lose, notre dame receives a payout of $6.2 million for showing up. sb nation senior correspondent is here with more on the business behind college football. amy, welcome back. >> thanks for having me. lori: how as a moneymaker does the bcs title game compare in terms of money making not just other big college games but pro games as well? >> you can't compare anything to the super bowl. everybody agrees the super bowl is by far the biggest sporting event and biggest moneymaker. if you look at tonight's game it is the perfect storm. we have two programs that come from, --,. lori: tradition. >> tradition, history. alaba