Archive for July, 2009
Is Federal Reserve Chairman Bernanke Campaigning for Re-election (Reappointment)?
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I would have to agree with a few of these sources–Chairman Bernanke is off and running on his reappointment campaign.
Washington Post: Televised townhall meeting in Kansas? That was the unusual format for PBS’ Jim Lehrer special with Chairman Ben Bernanke:
Using atypically folksy language, Bernanke explained why he thinks the central bank responded appropriately [...]
Maybe the FDIC Did Have the Best Loan Modification Plan?
Considering all the heat FDIC Chair Sheila Bair got during her campaign for loan mods and the program she implemented at IndyMac Bank, I found this article interesting. I guess the “proof is in the pudding” now.
Housing Wire: IndyMac Modification Outperform Industry Redefault Standards
As of May 31, 2009 the redefault rate among modified IndyMac Federal [...]
Federal Reserve Board Wants Mortgage Broker Fee Restrictions
Interesting…
Federal Reserve Board is doing consumer marketing studies now. In reaction to consumer testing the Fed is resubmitting a proposal to change Regulation Z, more commonly known as the Truth in Lending Act (TILA).
Please, read more and then come back and register you opinions in the comment section below.
Housing Wire: Fed Proposes Fee Restrictions on [...]
Kicking in Doors on Loan Modification and Loan Rescue Scams
Most of the mortgage news this morning is leading with State Attorneys Generals, Federal prosecutors, and the FTC coordinating to shutdown loan businesses preying on desperate homeowners.
Inman News: Officials in California shutdown Anaheim-based Loan Mod Boiler Room Operation.
The company employed a sales force of 31 at the time it was shut down, McNamara found, and [...]
Zillow Mortgage Marketplace Adds “True Cost” to Loan Quotes
As Mary Miller, Zillow’s Director of Product Management, states in her blog post–mortgage shoppers are very focused on mortgage rates and closing fees. However, we all know those can be deceptive and depending on your plan for the home you are purchasing or refinancing, very misleading.
Mary explains the value of this concept very nicely:
When comparing [...]
The Day After…Trying to Understand Obama’s Healthcare Plan
I watched it, but I have to say I don’t get it.
President Obama’s press conferences are increasingly sounding like the ShamWow infomercials. He might have a legitimate claim to be on PitchMen. I must admit, I am kinda waiting for what else I get for $19.95.
So let’s tool through the morning coverage and see [...]
Bernanke Under Fire. Will He Take the Fed Down Too?
There is a lot of debate as Bernanke heads for another round of testimony on Capital Hill:
Was the Federal Reserve competent in managing the economy pre-mortgage meltdown and during the ongoing economic crisis?
Should the Fed be reined in by Congress and lose its political independence?
Should Bernanke be retained or replaced when his [...]
Subprime Borrowers Aren’t to Blame for Mortgage Meltdown?
New favorite writer of mine, Martin Mandelman of Mandelman Matters, writes an interesting piece exonerating subprime borrowers from culpability in the mortgage meltdown:
“What did surprise me was what our politicians and the media started blaming the meltdown on: sub-prime borrowers. Anyone that read me back then knows it well… and if I said it once [...]
Two Big Themes Today: Stimulus II and Mortgage Fraud
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Unemployment numbers rock the market and kill notions of “Green Shoots.” Mike Shedlock does a nice job of comparing and contrasting the two camps in Battle Lines Form Over “Son of Stimulus”.
The housing market certainly isn’t feeling any relief from the first stimulus (little of which has hit the street) [...]
Mortgage Market – Confusing Economic Signals
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In digesting any news or market an analyst most valuable contribution is sorting the signal from the noise. Unfortunately, in the current mortgage and real estate market we have too many noise makers: unpredictable executive and legislative actions, multiple regulatory opinions and guidance, skittish investors, and fearful consumers.
So, with that [...]
