Friday 6th December
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Mandelman on the News Dissector Radio Show
Written on 29 Jul, 2010 at 3:27
My goodness, I've been doing quite a few radio programs on the foreclosure crisis and loan modifications and the economy lately, have you noticed? I really like doing the radio show thing, it's a lot easier than writing long,... (Continue reading)
The Federal Reserve Made a Record $47.4 Billion HELPING Housing Market in 2009?
Written on 27 Jul, 2010 at 20:05
The Federal Reserve, by the way, doesn't exist to make a profit like the commercial banks. Until 2009, the Fed paid no interest on the bank reserves and other monies it holds, and it earns interest on the Treasury... (Continue reading)
Worst June EVER for New Home Sales
Written on 27 Jul, 2010 at 7:12
Adjusted down to a rate of 267,000 annual sales was the worst month on record. That "rate," and I do love the way they report monthly numbers as an "annual sales RATE," means that 22,250 new homes were... (Continue reading)
Greenspan Says Housing is Nowhere Near Bottom
Written on 26 Jul, 2010 at 22:13
It's amazing how different it is when you're the Chairman of the Federal Reserve, as opposed to being the retired Chairman of the Federal Reserve. ... (Continue reading)
Apparently Europeans Handle Bad News Better Than We Do
Written on 26 Jul, 2010 at 17:49
Because, believe it or not, not everyone agrees with our Treasury Secretary, or our President for that matter, when they say that our economy is "on track". In fact, many think that quite the opposite is the case, and... (Continue reading)
I Think It’s Now Safe for Me to Speak Out About Loan Modifications and the Secret NPV
Written on 24 Jul, 2010 at 9:51
I've been waiting for this day for almost a year. The day I could stop beating around the bush and come right out and talk about the "secret" NPV and loan modifications. Because I've known about the "secret"... (Continue reading)
Barofsky’s Report: Taxpayer Support for Financial Sector Now $3.7 Trillion
Written on 24 Jul, 2010 at 5:47
Taxpayer support for the financial system grew by $700 billion last year, and has now reached roughly $3.7 trillion, including TARP, Federal Reserve programs, asset guarantees and federal bank deposit insurance, among other commitments. ... (Continue reading)
Elizabeth Warren’s Appointment In Jeopardy-We Have to Act Now
Written on 23 Jul, 2010 at 5:37
Elizabeth Warren's appointment to the Consumer Financial Protection Bureau, the agency she conceived of and has lobbied for since 2007, is by no means assured, and in fact, sources on The Hill say they don't think Warren will get the... (Continue reading)
The Real Estate Guys Radio Show, Mandelman Take 2!
Written on 22 Jul, 2010 at 3:02
I talked about... can you guess... right! The foreclosure crisis and loan modifications... and the economy... and some recent court decisions... a regular fountain of knowledge, I was. I haven't listened to it, but I figured some of you... especially... (Continue reading)
Ratings Agencies Panic: New Financial Reform Bill Means Expert Liability
Written on 21 Jul, 2010 at 19:16
Perhaps most notably, but least mentioned, the bill requires the credit rating agencies, Moody's, Fitch, and Standard & Poors, to not only be more transparent, but also potentially liable for issuing "bad ratings" on bonds. The role of the... (Continue reading)
JPMorgan Chase Blows Away Analysts’ Estimates, Lies Beyond Expectations
Written on 21 Jul, 2010 at 7:34
But, I suppose as long as Geithner doesn't make the mega-bank write down any losses in the future, everything will work out just fine and dandy. What, me worry? No chance of that. Besides, I don't know... (Continue reading)
Elizabeth Warren on the Foreclosure Crisis
Written on 19 Jul, 2010 at 8:58
Elizabeth Warren: "It's about respect. I believe that the American people ought to be part of the conversation about what's happening in our economy, and what's happening in Washington D.C. and what's happening on Wall Street. I truly... (Continue reading)
Obama’s Speech Avoids Using the “N” Word…
Written on 18 Jul, 2010 at 17:24
I realize that his speech the other night was intended to be more State-of-the-Union-like than a presentation of specific solutions, but I still came away feeling a bit like a Christian Scientist with appendicitis. America's banks are, in large part, insolvent.... (Continue reading)
Elizabeth Warren or Bust, I’m Drawing the Line
Written on 18 Jul, 2010 at 5:11
Ms. Warren should unquestionably be asked to head up this new Consumer Financial Protection Bureau, bribed, begged and/or pleaded with, if need be. Without her philosophy and leadership setting the standards and tone of this new bureau as it... (Continue reading)
Once in a Great While You See Something That Means Something
Written on 17 Jul, 2010 at 17:33
It doesn't happen every day... far from it, perhaps... but, once in a great while you see something that really means something... something that you are unlikely to ever forget. This video is one of those types of things. ... (Continue reading)
Mandelman a Guest on Short Sale Power Hour!
Written on 16 Jul, 2010 at 5:52
Actually, Kevin Kauffman and Fred Weaver are the two guys behind and in front of the camera on Short Sale Power Hour, an Internet video show that airs every day online, 5 days a week. They're smart and funny... (Continue reading)
BANKERS: Count on them to be petty and offensive, every single time.
Written on 16 Jul, 2010 at 5:21
The bill is important at a time like this, because it would clearly encourage more lawyers to represent homeowners in foreclosure actions "because attorneys can be confident, if successful, that they will be paid for their work." And, as... (Continue reading)
California Court Rules: MERS Can’t Foreclose, Citibank Can’t Collect
Written on 16 Jul, 2010 at 3:39
This decision means that if a foreclosing party in California, that is not the original lender, claims that payment is due under the note, and that they have the right to foreclose on the basis of a MERS assignment, they're... (Continue reading)
JPMorgan Chase: We Had So Many Buy-Backs That We Had to Put This Policy in Place
Written on 15 Jul, 2010 at 2:06
CHASE now says that their new policy prohibits the postponing of sales, regardless of the reason, if the request to postpone is made within 7 days... or maybe 5 days... or it could be 2 days (depending on who you... (Continue reading)
For Bankers of Failed Financial Institutions… the Pain Is Not Over Yet
Written on 13 Jul, 2010 at 22:11
Shiela! There you are! Where the heck have you been girl? Last I heard, Hank Paulson sent you for coffee, and you've been standing in Geithner's shadow ever since. It's about damn time, girl! ... (Continue reading)
FHFA Subpoenas Data from 64 Issuers of Mortgage Backed Securities
Written on 13 Jul, 2010 at 5:25
Uh oh. Someone's gonna' be in big trouble... as in... Lucy, you got some "˜splainin' to do. Is it warm in here all of a sudden?... (Continue reading)
15 Texas Homeowners Sue Bank of America for Abusive Practices – Don’t Mess With Texas
Written on 12 Jul, 2010 at 4:02
RESPA is a federal statute so I would think that this sort of thing could be happening all over the place... like in all 50 states. And it's also worth mentioning that what Bank of America is accused of... (Continue reading)
Have a “Plunder Party” and Help Change Our World
Written on 8 Jul, 2010 at 13:15
PLUNDER - The Crime of Our Time, is a movie produced and directed by Danny Schechter, that shows what Wall Street did to destroy our economy. It's the first movie that clearly shows that what's happened over the last... (Continue reading)
House Hearings to Answer Question: Are Loan Servicers Honoring Their Commitments to Help Preserve Homeownership?
Written on 6 Jul, 2010 at 11:06
Everything's going just fine. There are no real problems with HAMP or with the servicers who are implementing HAMP. Oh sure, there have been a few challenges, but most of them have been caused by the borrowers who... (Continue reading)
A Conversation Between MANDELMAN and a Reader About New $1 Billion Fund For Unemployed Homeowners
Written on 1 Jul, 2010 at 20:14
Everyone knows how much I love sarcasm... or at least have come to love sarcasm writing about the foreclosure crisis... and on this article I think I might have taken my sarcasm to such a level that readers, especially those... (Continue reading)