POLITICALLY SUSPECT

Trump threatens to prosecute Clinton if she pursues recount? Now there’s a good reason for her to do it.

Trump threatens to prosecute Clinton if she pursues recount?  Now there’s a good reason for her to do it.

Trump is now saying that there’s a conspiracy to throw votes to Hillary by casting ballots on behalf of dead people... and that’s simply not true.... (Continue reading)

Are Foreclosures Impacting the Presidential Election in 2016?

Are Foreclosures Impacting the Presidential Election in 2016?

It's the Obama Administration’s handling of the foreclosure crisis has left millions of Americans so mad they can’t see straight and at this point, don’t want to try. Want to know what created Trump v. Hillary? Maybe that... (Continue reading)

Fannie Mae CEO Agrees: Trump and Hillary should talk more about housing

Fannie Mae CEO Agrees: Trump and Hillary should talk more about housing

Fannie Mae and I apparently agree on one thing… the candidates are both missing the boat by ignoring future U.S. housing policy in their respective campaigns. ... (Continue reading)

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DOER ALERT: Support Homeowner Survivor Bill of Rights – Extend Foreclosure Protections to Widowed Spouses

DOER ALERT: Support Homeowner Survivor Bill of Rights - Extend Foreclosure Protections to Widowed Spouses

Senate Bill 1150... “clarify the responsibilities of a mortgage lender when a borrower dies and passes the home along to a survivor who wishes to assume the home loan.” Lenders say that widows and heirs, if not on the... (Continue reading)

Why Did Obama Wait Until December 2015 to Extend Mortgage Debt Forgiveness Act?

Why Did Obama Wait Until December 2015 to Extend Mortgage Debt Forgiveness Act?

I wonder how many people chose foreclosure last year because the Act had not been extended… only to find out now that Obama made the extension retroactive.... (Continue reading)

Mortgage Forgiveness Debt Relief Act Extended Again… and Again… and Again

Mortgage Forgiveness Debt Relief Act Extended Again… and Again... and Again

President Obama extended the Mortgage Forgiveness Debt Relief Act through December 31, 2016. The extension is retroactive and covers mortgage debt cancelled in 2015. ... (Continue reading)

Where did the billions go when banks settled with our government?

Where did the billions go when banks settled with our government?

What if there had been $50 billion to spend on helping homeowners avoid foreclosure. That would be more than we've spent to-date on foreclosure prevention. ... (Continue reading)

Does the GOP Want to Win the Presidency in 2016?

Does the GOP Want to Win the Presidency in 2016?

I don't believe that the GOP wants to win the upcoming election. Oh, they want to hold onto their majority in the House, but beyond that I think they like having a democrat to blame.... (Continue reading)

Hillary wants prosperity, Fonda joins Greenpeace, Yellen Says Crisis “Set to Fade,” and other annoying nonsense.

Hillary wants prosperity, Fonda joins Greenpeace, Yellen Says Crisis “Set to Fade,” and other annoying nonsense.

Have we lost 10 million homes to foreclosure yet? Does anyone even care?... (Continue reading)

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What Congress Learned From TARP is Causing the Foreclosure Crisis to Continue

What Congress Learned From TARP is Causing the Foreclosure Crisis to Continue

HAMP is guaranteed to do no more than it has done to-date, and that new defaults and re-defaults will continue to perpetuate the crisis, causing millions more Americans to lose homes unnecessarily.... (Continue reading)

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The Foreclosure Crisis is Behind Us? Where?  Who says?

Maybe the mainstream media has simply gotten tired of the foreclosure crisis. It’s not like they’ve ever had a particularly good handle on what’s going on in real life when it come to foreclosures and loan modifications in general.... (Continue reading)

Republicans Want to Kill HAMP – Are they right or wrong?

Are Republicans monumentally insensitive and inconceivably delusional about loan modifications, as their statements might lead many to conclude? Or are Republicans right about HAMP?... (Continue reading)

SAY WATT? Fannie & Freddie Encourages Sub-Prime Lending, Can Mean Only 3% Down

SAY WATT? Fannie & Freddie Encourages Sub-Prime Lending, Can Mean Only 3% Down

FHFA director Mel Watt, not ironically speaking while in Las Vegas, offered government’s desperate response to help housing… the only thing they can think of to do at this point. ... (Continue reading)

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AMERICA’S BILLIONAIRES: Aristocracies that are sure to be with us for a very long time.

AMERICA’S BILLIONAIRES: Aristocracies that are sure to be with us for a very long time.

We have 97 billionaires, each with over $5 billion. After this generation is gone, that number will likely double. We creating aristocracies. Inequality USA.... (Continue reading)

GAO REPORT SAYS IT AGAIN: Treasury NEEDS to improve HAMP Data Analysis

GAO REPORT SAYS IT AGAIN: Treasury NEEDS to improve HAMP Data Analysis

Latest GAO Report once again has recommended that Treasury improve its capability to track and analyze data related to HAMP loan modifications. Again and again.... (Continue reading)

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Mortgage Originations Are Down by 60-70% Year-Over-Year… But Everything’s Okay

Mortgage Originations Are Down by 60-70% Year-Over-Year… But Everything’s Okay

So, the mortgage industry has seen originations fall in a single year by 60-70 percent, but the housing markets are okay, in fact they’re recovering all around us every day, and prices are up. ... (Continue reading)

Hartford Beats Out Newark for Most Underwater Mortgages… What to Do, What to Do?

Hartford Beats Out Newark for Most Underwater Mortgages... What to Do, What to Do?

However, as it turns out, Newark’s housing market isn’t in the worst shape of any U.S. city. To visit the city with that distinction, you need to head north from Newark about 125 miles… and when you get to... (Continue reading)

What’s WRONG with Richard Cordray of the CFPB? Tell Me How Can This Happen?

What's WRONG with Richard Cordray of the CFPB?  Tell Me How Can This Happen?

So, why does Cordray make it sound like he’s describing a problem with reverse mortgages when he’s actually not? Why is he scaring seniors away from a reverse mortgage, when it could transform their lives, or save their homes,... (Continue reading)

Mortgage Resolution Partners’ Chairman, Steven Gluckstern Says Eminent Domain Plan will Go Forward – A Mandelman Matters Podcast

Mortgage Resolution Partners' Chairman, Steven Gluckstern Says Eminent Domain Plan will Go Forward - A Mandelman Matters Podcast

Steven Gluckstern is the Executive Chairman of Mortgage Resolution Partners ("MRP"), the company that has been advising cities and municipalities all over the country, and most notably Richmond, California, in their use of eminent domain to take over underwater loans... (Continue reading)

Apparently White House is PLEASED with HAMP and Housing?

Apparently White House is PLEASED with HAMP and Housing?

I’m actually relieved that the White House knows about the millions of delinquencies, underwater and effectively underwater loans… that sales have been “slowing” since last July, but slowing even more so since the first of the year. I’m so... (Continue reading)

Dave Dayen Does Great Job Describing “Government Cowardice” and Donovan’s Complicity “Selling” the National Mortgage Settlement

Dave Dayen Does Great Job Describing “Government Cowardice” and Donovan’s Complicity “Selling” the National Mortgage Settlement

Dayen’s article is still an outstanding piece of work that I very much appreciated. It saved me from having to read Smith’s final report, and he wrote it in such a way that I think it represents the perfect... (Continue reading)

THANK YOU RUSH LIMBAUGH! Rush Says Republicans Won’t Work With Black President.

THANK YOU RUSH LIMBAUGH!  Rush Says Republicans Won't Work With Black President.

Rush Limbaugh has admitted that Republicans won't work with Obama because he's black. Remember when Barack Obama was running against Hillary Clinton for president in 2008? So, remember the question that was on everyone’s mind in 2008? ... (Continue reading)

Four Million Homes Rise Above Water in Q4… Does anyone realize how stupid a headline that is?

Four Million Homes Rise Above Water in Q4… Does anyone realize how stupid a headline that is?

How about if we start a contest? I’d love to promote the, “Sell your home at the Zillow price and win your mortgage payments for a year” contest. It’s not like we’d need any money to do it…... (Continue reading)

All the News that Can Confuse – Housing Market News Up and Down at the Same Time

All the News that Can Confuse – Housing Market News Up and Down at the Same Time

On any given day, the numbers of contradictory headlines about housing markets and foreclosures are enough to present a serious health risk to anyone reading them. ... (Continue reading)

We’ve Solved a National Foreclosure Crisis Before, Why Not Now?

We’ve Solved a National Foreclosure Crisis Before, Why Not Now?

A large part of this protracted recession it said is due to households trying to reduce their debt levels, which in turn leads to less spending in the economy, driving the recession deeper and further.... (Continue reading)

Uncertainty in the Loan Mod Process is Barrier to U.S. Economic Growth

Uncertainty in the Loan Mod Process is Barrier to U.S. Economic Growth

Once a mortgage is underwater… should you get hit with a life event such as a divorce, illness, injury, job loss or income reduction… you can’t sell your home… and you can’t borrow against it to help you get through... (Continue reading)

We’re Not Stopping the Foreclosure Crisis because it Affects Mostly Brown People

We’re Not Stopping the Foreclosure Crisis because it Affects Mostly Brown People

This is not a tragedy that discriminates. The race diminished as a result of what is being allowed to transpire will be “human”. ... (Continue reading)

Two -Year Housing Recovery Mirage Now Over… Bernanke Hoping to Retire Before Everyone Notices

Two -Year Housing Recovery Mirage Now Over... Bernanke Hoping to Retire Before Everyone Notices

At the end of 2010, the interest rate on a 30-year mortgage was just under 5 percent... 4.97% to be more precise. Over the next 28 months actions taken by the Fed pushed that rate down as low as... (Continue reading)

The National Debate Over Loan Modification Re-defaults is Stupid

The National Debate Over Loan Modification Re-defaults is Stupid

Not surprisingly, the combined effect of the three high-profile reports on borrower performance after having their loans modified, made headlines that have sparked a national debate... yet again. It was a stupid debate back in 2009, and it’s an even... (Continue reading)

Foreclosures Impact One in 10 Children in this Country Today, Report Shows

Foreclosures Impact One in 10 Children in this Country Today, Report Shows

No matter, the more important conclusion reached by the report is that, “Nearly four years later, the problem shows no signs of abating.” And isn’t that just a lovely thought that made me throw up in my mouth a... (Continue reading)

Denial and Avoidance Won’t Fix Housing or Grow Economy

Denial and Avoidance Won't Fix Housing or Grow Economy

I wish we’d stop with the false bottoms and imaged recovery stories so we could actually concentrate on making some much needed improvements in how we’re handling our economic malaise, because that’s the only way we’re going to see any... (Continue reading)

About foreclosures, our housing markets, and economic recovery… oh, and lying.

Then how in the world can we be "at the bottom," of housing price declines or starting to see ANY sort of "housing recovery" as the MORONS in the media are also reporting TODAY, after receiving your press releases?... (Continue reading)

Florida Supreme Court Serves Fraud on Ice

Florida Supreme Court Serves Fraud on Ice

When all you need is a Mac, some software and a reasonably competent 15 year-old in order to create a reasonable facsimile of a U.S. Treasury bond, it could be incredibly problematic and a real opportunity to cash in for... (Continue reading)

State Bar Hypocrisy on Display – Bar to Offer Grants to Fund Legal Help with Foreclosures

State Bar Hypocrisy on Display - Bar to Offer Grants to Fund Legal Help with Foreclosures

One thing I will say about State Bar Executive Director Joe Dunn is that his political skills are nothing short of masterful... it's breathtaking, really. So, stay tuned... with hypocrisy operating at these levels, absolutely anything is possible. ... (Continue reading)

The Fed blew it on Foreclosures. Ooops, we ruined the country?

The Fed blew it on Foreclosures.  Ooops, we ruined the country?

If you make a mistake and cause harm on a scale of the Great Depression, what happens to you? Don’t you even get fired? Reprimanded? A stern talking to?... (Continue reading)

FOMC Meeting Surprise! Committee Finds Justification to Continue Doing What They’re Doing

FOMC Meeting Surprise!  Committee Finds Justification to Continue Doing What They’re Doing

I don't know what we'd do without the FOMC... except maybe... be forced to make real progress in some substantive way. ... (Continue reading)

The Money in the OCC’s Cancelled Independent Foreclosure Review

The Money in the OCC's Cancelled Independent Foreclosure Review

It doesn't look to me like canceling the OCC IFR saved the banks money, in fact it looks to me like it cost banks quite a bit more than they would have paid under the IFR's "Financial Framework" as shown... (Continue reading)

OCC Foreclosure Review RIP – Anyone Care for Cheese With their Whine?

OCC Foreclosure Review RIP - Anyone Care for Cheese With their Whine?

All homeowners are “responsible” people. Or, to be more accurate, 99.9 percent of homeowners are responsible people. Some minuscule percentage of any group make up the small tail of the bell curve. The simple fact, and we... (Continue reading)

$1 TRILLION U.S. COIN – POSITIVELY BRILLIANT!

$1 TRILLION U.S. COIN - POSITIVELY BRILLIANT!

Either we could sell the space to the highest bidder... I bet McDonald’s would pay a pretty penny, no pun intended, to put "Ronald the Clown" on the new coin for example. Or, how about we engrave it to commemorate... (Continue reading)

Recovery? Ho, Ho, Holiday Sales Tell the Tale

Recovery?  Ho, Ho, Holiday Sales Tell the Tale

I'm just so relieved that none of this dismal economic news was caused by the respective economies being in deep recession led by unreported worsening unemployment and pretend housing market recoveries. Because if those things were the cause, why... (Continue reading)

A 10 POINT SCANDAL – CA State Bar Exec Director Dunn Should Resign

A 10 POINT SCANDAL - CA State Bar Exec Director Dunn Should Resign

Beginning in the fall of 2011, and increasing in speed and ferocity after January 1, 2012, the State Bar begins using its newly concocted interpretation of SB 94 as a hammer to threaten and strong-arm lawyers who have received a... (Continue reading)

Colorado Failing… Foreclosures By Wink, Nod or Text Message

Colorado Failing... Foreclosures By Wink, Nod or Text Message

Known as the “statement of qualified holder,” it doesn’t require a lawyer to look at anything that shows the bank holds the original mortgage, but even more stunning is that it also provides lawyers with complete absolution from any wrongdoing... (Continue reading)

BYE-BYE DEMARCO! Obama to Replace Director of FHFA

BYE-BYE DEMARCO!  Obama to Replace Director of FHFA

The mortgage market is not just dominated by the government, the mortgage market is the government, and that’s not just here in the US, it’s everywhere. Governments are the lenders of ONLY resort. ... (Continue reading)

California Bar: Disregards Attorney General’s Views, Screws Homeowners

California Bar: Disregards Attorney General's Views, Screws Homeowners

What’s even harder to understand is that the State Bar’s most recent interpretation of SB 94 completely disagrees with how California Attorney General Harris and Governor Brown interpreted the law in documents filed with the court last year when... (Continue reading)

We’re Addicted to Denying our Addiction to FHA’s Mortgage Crack

We’re Addicted to Denying our Addiction to FHA’s Mortgage Crack

According to Moody’s Analytics, FHA's actions prevented home prices from dropping an additional 25%, which in turn saved 3 million jobs and half a trillion dollars in economic output. But now FHA is broke. Now what?... (Continue reading)

Negative Equity Is Not Really a Numbers Game

Negative Equity Is Not Really a Numbers Game

“This analysis suggests that the country should not focus on the immediate problem of mass unemployment, about which little can be done. Instead we should turn attention to long-term issues, such as tax reform and education.” ... (Continue reading)

What’s the difference between Spain and the USA? Empatía y sentido común. Sí, es verdad.

What’s the difference between Spain and the USA?  Empatía y sentido común.  Sí, es verdad.

"In Spain right now, we have nearly a million empty housing units. In this situation, the government and the economy ministry ... has to take steps so that no family in good faith goes without a home.”... (Continue reading)

President Obama on The Daily Show with Jon Stewart

President Obama on The Daily Show with Jon Stewart

Jon Stewart asked you about why you didn’t spend so much of the money available for HAMP… on HAMP… or on other efforts to mitigate the damage being caused by the foreclosure crisis. And you knew what he had... (Continue reading)

Why I Didn’t Want to Watch the Presidential Debate Last Night

Why I Didn't Want to Watch the Presidential Debate Last Night

It’s foreign policy night but although each question starts out overseas, it ends up buried in our flaccid economy somewhere near Cleveland. Romney points out that Obama can’t seem to buy jobs let alone create them. ... (Continue reading)

Foreclosure Crisis Almost Over – It’s Magically Delicious

Foreclosure Crisis Almost Over – It's Magically Delicious

So, if the normal market had 100 buyers, where there used to be 66 repeat buyers, now there will only be 33. Where there were 25 first timers, now there will only be 12. Are you getting the... (Continue reading)

Foreclosures Are Down? RealtyTrac VP, Daren Blomquist – The Definition of Obtuse

Foreclosures Are Down?  RealtyTrac VP, Daren Blomquist – The Definition of Obtuse

What everyone continues to overlook is the impact that foreclosures continue to have on new foreclosures. We’ve got supposed experts yammering about how we’ll have some set number of foreclosures and then we’ll be through this mess. But... (Continue reading)

When Will the Pivotal Nature of the Foreclosure Crisis be Understood

When Will the Pivotal Nature of the Foreclosure Crisis be Understood

Once you’re underwater, however, as at least half of homeowners are today, you can’t borrow against your home’s equity, nor can you sell your home, so any of those life events are likely to hit you where you live. ... (Continue reading)

Okay, So Now I Appreciate Mitt Romney

Okay, So Now I Appreciate Mitt Romney

They actually believe that too much regulation is the problem facing our financial institutions… that foreclosures are a good thing for the housing market… that tax cuts for the rich will create prosperity… that people on food stamps won’t get... (Continue reading)

PREVIEW: Neil Barofsky talks BAILOUT on a Mandelman Matters Podcast

PREVIEW: Neil Barofsky talks BAILOUT on a Mandelman Matters Podcast

Neil Barofsky is a name I'll never forget, and it won't be hard for anyone to understand why that's the case when I tell you the reason why. Neil was the Special Inspector General for the Treasury’s Troubled Asset... (Continue reading)

FREE BERNIE MADOFF… FREE BERNIE MADOFF…

If no one else is going to go to jail having to do with the financial meltdown, then I don’t actually care if Bernie is in there either. I mean, if crime pays… then let’s embrace the change. ... (Continue reading)

California’s Lt. Governor Gavin Newsom on Eminent Domain – A Politician with True Grit

According to a story in Mortgage News Daily, California’s Lt. Governor Gavin Newsom took a couple of shots at a Washington D.C. trade group called the Securities Industry and Financial Markets Association (“SIFMA”) in response to their threatening San Bernardino... (Continue reading)

GAO Study Finds OCC Foreclosure Review too Hard for Us to Understand

The GAO’s report, released earlier this month concluded that the OCC simply made submitting a complaint too difficult for us to understand. We couldn’t figure it out. It was over our collective heads. And so, completely... (Continue reading)

How’s the View from Where You’re Sitting?

If you want my advice... don't read this post, or watch it... just skip this page and head for the sports section or something. I'm sorry I'm even posting it... seriously... click away... while you still can.... (Continue reading)

Republican Filibuster Discloses that GOP Opposes DISCLOSURE

 Republican Filibuster Discloses that GOP Opposes DISCLOSURE

Killing this bill facilitates lying to the American people. And short of something that’s kept secret in order to protect our national defense, there is never a reason we should tolerate anyone or anything that does that.... (Continue reading)

Announcing the National Mortgage Settlement – My Favorite President Obama Speech of All

Announcing the National Mortgage Settlement - My Favorite President Obama Speech of All

But, I'm now posting the speech from last February, at which the president announced the conclusion of the AG investigations/negotiations because I think it was his best speech ever in many ways. It's the only speech he's ever given... (Continue reading)

CAR- California Assn. of Realtors Tries to Kill Homeowners Bill of Rights

CAR- California Assn. of Realtors Tries to Kill Homeowners Bill of Rights

Let’s let C.A.R. know that even though many of us may be losing homes today, that doesn’t make us deadbeats… it makes us strong… it makes us focused… and it makes us remember who was and who wasn’t on our... (Continue reading)

PRACTICE LAW, LOSE YOUR LICENSE: WHAT SB 94 MEANS TO YOUR PRACTICE By Alice M. Graham

PRACTICE LAW, LOSE YOUR LICENSE: WHAT SB 94 MEANS TO YOUR PRACTICE By Alice M. Graham

The recent collapse of the real estate and financial markets in this country created the need for attorneys to help many of their homeowner clients by negotiating with lenders for a forbearance or modification of loans secured by the clients’... (Continue reading)

How Do You Take Your Catastrophe? Um, just a little at a time, please… with two Splendas.

How Do You Take Your Catastrophe?  Um, just a little at a time, please… with two Splendas.

We need growth, or we’re not getting out of this alive. It’s the only way. We can’t borrow and spend our way out of this one, like we have all the past recessions, or at least the ones... (Continue reading)

Elizabeth Warren Asks Netroots Nation a Question. Problem is, I think the answer is NO.

Elizabeth Warren Asks Netroots Nation a Question.  Problem is, I think the answer is NO.

The real point is that we don't deserve someone like Elizabeth Warren and likely won't get her or anyone like her until we can answer her question about being ready with a resounding YES! and really mean it, as in... (Continue reading)

We’re Being Fed a Steady Diet of Econocrap

We’re Being Fed a Steady Diet of Econocrap

Overall, the point I’m making is that I don’t really care that the government wants to pay Scrabble-type word games with the word “recession” or “recovery.” I don’t care how they want to screw around with the unemployment rate... (Continue reading)

What is Ed DeMarco Thinking?

What is Ed DeMarco Thinking?

Edward DeMarco of the FHFA is the conservator for the GSEs, Fannie Mae and Freddie Mac. At this point the president, the Secretary of the Treasury, and many in congress have asked him about participating in anything... HAMP, principal... (Continue reading)

Mandelman made $454,000 in 1 year as student loan debt collector?

Mandelman made $454,000 in 1 year as student loan debt collector?

Have you found your mortgage servicer to be a tad offensive at times. Well, that's to be expected, after all, they are a bill collector, right? Well, here's some news that will drive you insane... mortgage servicers are... (Continue reading)

Why is CA State Bar Making its Job Protecting Consumers HARDER?

Why is CA State Bar Making its Job Protecting Consumers HARDER?

The easiest way for California lawyers to lose their licenses is to have a banking irregularity in their trust accounts. ... (Continue reading)

OBLABLA or MITTENS for President in 2012? Here’s how I’m going to choose…

OBLABLA or MITTENS for President in 2012?  Here's how I'm going to choose...

"While Paulson didn’t want to write down mortgages, the single biggest factor in determining whether the American middle class has any stored wealth, Paulson was willing to do so in response to pressure. Barack Obama... (Continue reading)

What the Fed Chief is Thinking…

What the Fed Chief is Thinking...

Federal Reserve Chief Ben Bernanke communicates more than any of his predecessors, but have you found yourself increasingly wondering what in the world the man is thinking behind that shiny dome and professorial facial hair?... (Continue reading)

An Important Message about 2012 for both President Obama & Mitt Romney

An Important Message about 2012 for both President Obama & Mitt Romney

In 2012, the road to the White House runs directly through the states hardest hit by the foreclosure crisis, most notably Ohio and Florida, but also Michigan, Nevada, and North Carolina, et al. For the Obama campaign, I would... (Continue reading)

Crimes of Hubris, Ineptitude & Folly: Geithner, Summers and Obama

Crimes of Hubris, Ineptitude & Folly: Geithner, Summers and Obama

Decisions made by Larry Summers have been disastrous for this nation… that much is abundantly clear. Tim Geithner’s been no peach either. Together their folly has cost our country incalculable amounts of money, but further, they have caused... (Continue reading)

GUEST POST: A Letter to President Obama, from James Deal, Attorney at Law

GUEST POST: A Letter to President Obama, from James Deal, Attorney at Law

I write to identify a policy change that would add trillions of dollars of liquidity to the housing market overnight. It would stimulate home sales, stabilize home prices, and reduce the number of home foreclosures.... (Continue reading)

IF TRUE, IT’S TREASON – CBO Director Douglas Elmendorf and the Impact of the Foreclosure Crisis

IF TRUE, IT'S TREASON - CBO Director Douglas Elmendorf and the Impact of the Foreclosure Crisis

I suppose I’ll never know who was involved or what you’ve done to this nation by manipulating or withholding such information from Congress, from the president, from the American people and from the world. If you did any of... (Continue reading)

Bringing Up the REAR – Charles Gasparino, Fox Business Network

Bringing Up the REAR – Charles Gasparino, Fox Business Network

Also, I’m wondering something… when you say that, “foreclosures are a necessary ingredient to the housing market’s recovery,” how many do you figure we’re going to need in order to "recover?" ... (Continue reading)

Atty. Gen. Kamala Harris ASKS Fannie and Freddie to Stop Foreclosing

 Atty. Gen. Kamala Harris ASKS Fannie and Freddie to Stop Foreclosing

Actually, I don’t even know if she can pull off that angry black woman thing, but that’s exactly what we need at a time like this. You think Weezy Jefferson would be putting up with some nerdy pasty white... (Continue reading)

Economy Recovering? No, it’s not. Housing? NO. Unemployment? NO. Stock Market? NO.

Economy Recovering? No, it's not. Housing? NO. Unemployment? NO. Stock Market? NO.

So… housing is not, not, not at bottom, – check. Unemployment not improving – check. And does the stock market at 13,000 mean something to the economy? Nothing good – check.You might want to bookmark this page, so... (Continue reading)

Arizona’s SB 1451 – Does Arizona Have the Right to Save Itself from Drowning in Underwater Loans?

Arizona's SB 1451 - Does Arizona Have the Right to Save Itself from Drowning in Underwater Loans?

Senate Bill 1451 only uses PRIVATE MONEY. There is no government money involved, no subsidies, no guarantees, and no taxes. This Program utilizes a completely different structure than any current mortgage program. It includes a cash insurance... (Continue reading)

Greece Will Leave EU… They Should Do It Now.

Greece Will Leave EU... They Should Do It Now.

Dear Greece... The Dracma will be fine and so will the people, but not if you wait too long, or if you continue with a prime minister who is an ex-central banker. Toss him out, re-shuffle the deck and... (Continue reading)

The Good, the Bad and the Ugly in the Mortgage Settlement

The Good, the Bad and the Ugly in the Mortgage Settlement

The settlement agreement is supposed to help one million households by reducing their loan balance reduced. There’s no way is there enough money in this settlement to do all that much for anyone. But Obama has said it’s... (Continue reading)

Freddie Mac’s Crimes Against Homeowners are NOT an Isolated Incident

Freddie Mac’s Crimes Against Homeowners are NOT an Isolated Incident

ProPublica is reporting that Freddie Mac has been placing “multi-billion dollar bets designed to only pay off when homeowners remain “trapped” in high interest rate loans, and that the government-owned mortgage monster began increasing such bets late in 2010, which... (Continue reading)

Come on now, tell the truth… the GOP doesn’t want to win the White House in 2012, right?

Come on now, tell the truth… the GOP doesn’t want to win the White House in 2012, right?

What about Newt’s plan for 9 year-old janitors in poor neighborhoods? And you want me to believe that he’s seriously campaigning for president? Come on now… and Newt’s in first or second place? Sure he is. The... (Continue reading)

Look, this just isn’t that hard… The Solutions to Pressing Problems.

Look, this just isn't that hard... The Solutions to Pressing Problems.

If Mickey Mouse is going to sign it, and Donald Duck is going to notarize it... THEN DON'T SIGN IT... because we don't need it signed. BUT... if we DO need it signed, then don't forge it and file... (Continue reading)

I’ve found the problem in Washington… it’s some sort of time warp, or they’re just dumb.

I’ve found the problem in Washington… it’s some sort of time warp, or they're just dumb.

How does the Fed write a white paper and present it to the United State Congress that is packed with proof positive of an entirely inadequate level of knowledge, understanding… education, even? Am I going to find out that... (Continue reading)

Are they lying or are they stupid?

Are they lying or are they stupid?

Look… are you feeling me here? Do you see what I’m saying? What’s the deal? Are they lying or are they stupid, because there’s no way in the world we should be talking about whether the FOMC... (Continue reading)

Can We All at Least Agree on This?

Can We All at Least Agree on This?

If that is going to be allowed to happen, we… and I mean WE, as in ALL OF US… should demand that we stop signing such things altogether. If a Linda Green look-a-like is going to sign a fraudulent... (Continue reading)

Arizona’s Rep. Jack Harper Says Walk Away and You’ll Pay

Arizona's Rep. Jack Harper Says Walk Away and You'll Pay

The Arizona Bankers Association has been trying to change that for years so banks could go after the homeowners for the amount of the deficiency, and finally they've found their boy in Jack Harper. Inconceivably, Harper says he will... (Continue reading)

The Stalinist Era of Consumer Protection

The Stalinist Era of Consumer Protection

Now, when right in front of our eyes, the banking lobby is pushing to make the only federal agency whose role is to protect consumers entirely toothless, once again we’re failing to make our voices heard. I know this... (Continue reading)

THE NEWS: What’s Occupying My Mind is Making Me Dizzy

THE NEWS: What’s Occupying My Mind is Making Me Dizzy

What you are about to read has not been smoothed out or otherwise homogenized, it’s just the news as it’s coming at me… and you. Go ahead… read it and then tell me everything’s just fine. ... (Continue reading)

Consumer Spending Up? Come on get happy…

Consumer Spending Up?  Come on get happy...

The bottom-line… much of what the government is reporting is nothing more than a mirage, with the rest either easily explained or not indicative of a growing economy, but rather a shrinking one. ... (Continue reading)

What Shall We Tell Our Children, Mr. President?

What Shall We Tell Our Children, Mr. President?

What shall we tell the children, Mr. President? How can we tell them the truth? How can we tell them we’ve lost faith in America… that our government has abandoned us… that we no longer feel like a... (Continue reading)

Public sector shedding 35k jobs a month — Republicans block bill to prevent further losses

Public sector shedding 35k jobs a month — Republicans block bill to prevent further losses

State budgets have to be suffering from reduced income and sales taxes, don’t they? Higher unemployment obviously means fewer people working and those that are still working… are making less money, so it stands to reason that income tax... (Continue reading)

Mitt, Mitt, Bo Bit, Banana Fanna, Fo Fit on Foreclosures

Romney has also offered a 160-page economic program and it offers nothing in terms of specific solutions to the housing crisis and in fact barely mentions it. And at the recently held Republican candidate debate, held in Las Vegas... (Continue reading)

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Optimism Lost, and by Optimism, I mean Ben Bernanke and the NYT

Optimism Lost, and by Optimism, I mean Ben Bernanke and the NYT

I think the nice folks at the New York Times have been spending too much time at Zabars? Because I’m pretty sure it’s not a confidence deficiency… I think it’s money we’re missing… as in income, and the lack... (Continue reading)

CA’s Democrats in Congress Wake Up to Need to Address Foreclosures

CA's Democrats in Congress Wake Up to Need to Address Foreclosures

Apparently, this past week, the sound of the economy’s ship going down must have awoken the majority of House Democrats from California who then just jumped all over the Obama Administration for “failing to deliver on promises to curb foreclosures.”... (Continue reading)

Inside the Obama Administration with Ezra Klein … and Mandelman

Inside the Obama Administration with Ezra Klein … and Mandelman

Klein seems to think that it’s important to understand how the administration got it so wrong… but I could care less. I think the salient point is that they knew they had gotten it wrong soon enough, and yet... (Continue reading)

The Recession is Over! Long Live the Recession!

The Recession is Over!  Long Live the Recession!

Look people… don’t get bummed out about this study, because a few years from now the NBER is probably going to refer to today as having been a peak. ... (Continue reading)

AM I DREAMING ALL OF THIS? (If you can read this, please let me know.)

AM I DREAMING ALL OF THIS?  (If you can read this, please let me know.)

Is it possible that I’m only dreaming all of this? Like, maybe I don’t really blog about the financial and foreclosure crises… maybe it’s all just part of a reoccurring, and incomprehensibly maddening dream? ... (Continue reading)

Mandelman’s Monthly Museletter – Version 15.0

Mandelman’s Monthly Museletter – Version 15.0

1. Obama Administration Leaps Into Action on the Foreclosure Crisis. 2. Nation's poverty rate climbs to 15.1%, highest in 18 years. 3. Obama Says Government to Help More People Refinance… Again. 4. Mortgage Defaults Skyrocket 33% Nationwide in... (Continue reading)

Obama Says Post Office Should Cut One Day of Mail Delivery… Now there’s change we can believe in.

Obama Says Post Office Should Cut One Day of Mail Delivery... Now there’s change we can believe in.

Obviously, Obama has been hard at work on this very important subject, and I think we have to give credit where credit is due. And he’s got more ideas than just cutting a day of mail delivery, oh yes... (Continue reading)


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