The U.S. Department of Housing and Urban Development’s (HUD) Office of Policy Development and Research has released a report entitled, “Report to Congress on the Root Causes of the Foreclosure Crisis.” The document represents HUD’s final report to Congress on the crisis, as mandated by the Housing and Economic Recovery Act of 2008 (HERA). HUD’s report reviews academic literature and industry press, analyzes data and trends in the housing market, and provides a review of policy responses and recommended actions to mitigate the current crisis and help prevent similar crises from occurring in the future. Read More…