Posts Tagged ‘recession’

Bill to End Foreclosure Mediation In Missouri Passes… Wake Up, Missouri

Bill to End Foreclosure Mediation In Missouri Passes... Wake Up, Missouri

Unless you believe that the foreclosure picture in this country somehow magically changed dramatically over the last month or two... you don’t want to wake up one day to find out you might need mediation... only it’s no longer there.... (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)

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)

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)

‘Twas the Night Before Christmas 2012 – A Political Year-in-Review

'Twas the Night Before Christmas 2012 - A Political Year-in-Review

It my annual political year-in-review, read to the poem, 'Twas the Night Before Christmas. Read it yourself, or click 'PLAY' and I'll read it for you.... (Continue reading)

What Can DocX’s Brown Do for LPS, Besides Forge a Million Documents

What Can DocX’s Brown Do for LPS, Besides Forge a Million Documents

Is that what I’m to believe? She hid it from LPS. For SIX years. A million documents. And the whole time, LPS must have just thought she was great at getting the signatures she... (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)

No Surprise – Arizona Court Rules Mortgage Settlement Funds Don’t Have to Help Homeowners

No Surprise - Arizona Court Rules Mortgage Settlement Funds Don't Have to Help Homeowners

Okay, so what’s the big deal whether the state uses some of the funds to balance the state’s budget? It’s better than the alternative, which is the legislature cutting much needed assistance programs and raising taxes across the board…... (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)

Loan Modification Process Improving at BOA and Other Servicers

Loan Modification Process Improving at BOA and Other Servicers

why would Smith publish a report whose only meaningful certainty was to scare even more homeowners away from paying attention to Bank of America's borrower outreach efforts? BOA and its peers were already having a hard time reaching... (Continue reading)

It’s Official: Thanks to Former Citigroup CEO Sandy Weill… I Have Now Seen Everything.

It's Official: Thanks to Former Citigroup CEO Sandy Weill... I Have Now Seen Everything.

So, I guess I had this dream. I was watching CNBC... which, by the way, is how I knew it was a dream because I never watch CNBC... anyway, so I was watching CNBC and on comes Sanford "Sandy"... (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)

Three Central Banks Surprise… Desperation in Three Part Harmony

Three Central Banks Surprise... Desperation in Three Part Harmony

The NYT story also mentioned that Bernanke and other central bankers have been trying to shift some of the burden for fixing the economy to elected officials, but the politicians aren’t having any of that. Do they look stupid?... (Continue reading)

President Obama, Bored With the Foreclosure Crisis. That Explains A Lot, Actually.

President Obama, Bored With the Foreclosure Crisis. That Explains A Lot, Actually.

And now I'm supposed to come to terms with the idea that the administration's bored with the topic itself? I could understand it if they were bored with something they'd mastered, although I can't for the life of me... (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)

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)

Should States Use Settlement Money for Deficits or Housing? Oh, So What and Who Cares?

Should States Use Settlement Money for Deficits or Housing?  Oh, So What and Who Cares?

When I saw the very first state make a grab for the settlement cash allegedly headed the state’s way, I laughed and vowed not to let it get to me. Mandelman Matters, after all, only writes about things that... (Continue reading)

In the Words of Goldman Sachs CEO, Lord Blankcheck…

In the Words of Goldman Sachs CEO, Lord Blankcheck...

So, have you ever wondered what Goldman Sachs CEO is saying when the cameras aren't on, own what goes on under that highly polished dome of his? Well, I sure have. ... (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)

Fannie Mae Wants Consequences for Strategic Default

Fannie Mae Wants Consequences for Strategic Default

Fannie Mae hates strategic default. Then you say it’s bad for communities, Terrence, why do you think that’s the case? I mean… bad is a relative term, wouldn’t you agree. And, in terms of doing bad things... (Continue reading)

Wells Fargo gives $22,000 to Suicide Hotline… A gift the bank can use too.

Wells Fargo gives $22,000 to Suicide Hotline… A gift the bank can use too.

Wells Fargo “stepped up” with a $22,000 “gift.” Is that how that should ideally be phrased? I suppose it’s fine. But, having spent the last few days writing and talking about Norm Rousseau, who took his own... (Continue reading)

A Letter to Brian Stevens at TBWS: We Need More Houses?

A Letter to Brian Stevens at TBWS: We Need More Houses?

Just to make sure I understand what you said there… the problem is that there aren't enough homes for people to buy? We're having a shortage of houses for sale, are we? Wow… you know, I was sleeping... (Continue reading)

Husband’s Suicide Yesterday, Wells Fargo to Evict Wife Tomorrow Anyway

Husband's Suicide Yesterday, Wells Fargo to Evict Wife Tomorrow Anyway

You’re a liar, Wells Fargo. Either you knew you weren’t going to approve their loan modification, or you’re the most incompetent financial institution in the history of the world. And you don’t just do this sometimes, you do... (Continue reading)

Former NACA Home Save Counselor Says Commissions Create Complaints

Former NACA Home Save Counselor Says Commissions Create Complaints

I’m not sure why, but meeting with a “Home Save Counselor” doesn’t make me feel like I’ll be talking with a commissioned salesperson who will be potentially making up to $1,000 on my loan modification case? A “Home Save... (Continue reading)

California Homeowner in Foreclosure Wins Quiet Title – It’s a Free House!

California Homeowner in Foreclosure Wins Quiet Title – It’s a Free House!

For one thing, filing quiet title did work out well for Denise Saluto, and since I would never have predicted it happening in her case, I’m certainly not going to tell you it won’t happen again in yours, because as... (Continue reading)

Debt Forgiveness – The IMF, Iceland, and the U.S. of the 1930s all say it works

Debt Forgiveness - The IMF, Iceland, and the U.S. of the 1930s all say it works

Iceland’s mortgage write-down program happened as a result of thousands of its citizens taking to the streets demanding that something be done about the debts the people had incurred buying homes during the bubble at what turned out to be... (Continue reading)

DOER UPDATE: Patricia Martin v. Wells Fargo – Court Grants Injunction, Injustice on Trial Ahead

DOER UPDATE: Patricia Martin v. Wells Fargo – Court Grants Injunction, Injustice on Trial Ahead

Zanides estimates that the bank has spent a significant amount already on legal fees and now is certain to spend a whole lot more. Patricia Martin’s home is worth no more than $275,000. How can it be worth... (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)

30 Minutes of Talking: Has Housing or Our GDP Hit Bottom?

30 Minutes of Talking: Has Housing or Our GDP Hit Bottom?

This week on 30 MINUTES OF TALKING I'm looking at the contradictions that are being thrown at us almost every day now... this past week it was the housing market that hit bottom, according to quite a few. But... (Continue reading)

We know they’re not evil, because they’re simply not smart enough to be evil.

We know they’re not evil, because they’re simply not smart enough to be evil.

The European bankers are no different than is the FHFA, which is led by Ed DeMarco, the guy stopping Fannie and Freddie from reducing principal balances of mortgages. He says he won’t do it because his job is to... (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)

MUST SEE TV: WA State Supreme Court Hears Arguments in Case Against MERS

MUST SEE TV: WA State Supreme Court Hears Arguments in Case Against MERS

The video below puts you in the courtroom to watch as both sides of the debate present oral arguments related to MERS’ involvement in the foreclosure process in front of the nine justices of the Washington State Supreme Court.... (Continue reading)

GUEST POST: Good for the Banks, Good for the Borrowers by Law Professor, Lauren E. Willis

GUEST POST: Good for the Banks, Good for the Borrowers by Law Professor, Lauren E. Willis

With so many Americans removed from the pool of potential buyers, those who own their homes with smaller mortgages or outright cannot sell their homes for decent prices, trapping them too in place and forcing some to delay retirement. The... (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)

New Jersey Supreme Court’s Guillaume decision meaningless – Should foreclosure defense rethink its strategy?

New Jersey Supreme Court's Guillaume decision meaningless - Should foreclosure defense rethink its strategy?

Why is there no effort to hold the administration and member of Congress accountable for what has clearly been their failure related to the federal government’s loan modification initiative? Why are we accepting such utter failure and holding them... (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)

Mandelman on “Saving the California Dream” on Fox 11 News KTTV Los Angeles

Mandelman on

Heidi Cuda, a producer from Fox 11 News in Los Angeles produced a week long series on the foreclosure crisis for the Channel 11 news and asked to interview me. I didn't like Part 1, but Part 2 was... (Continue reading)


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