Wednesday 4th December
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Ex-Goldman Execs Now “Help” Foreclosure Victims Buy Homes at 10% (Homes they probably shouldn’t have lost in the first place?)
Written on 18 Apr, 2016 at 10:16
Shelter Growth Capital Partners, founded by ex-Goldman execs, buy foreclosed homes on the cheap and re-sell them for tens of thousands more at 10% interest rates. From the people who brought you the foreclosure crisis... get ready for the... (Continue reading)
Was it worth it? Yeah, to me it definitely was. (For you maybe the reverse is true.)
Written on 8 Aug, 2014 at 5:47
If you switch your traditional mortgage to a reverse mortgage and you miss a payment, no one cares... if you miss three payments, no one cares... want to take the whole year off and make no mortgage payments... perfectly fine...... (Continue reading)
Borrowers Facing Foreclosure Should be Dancing in the Streets Over “˜X’ and “˜Z’ and Here’s Why
Written on 12 Dec, 2013 at 1:38
So, there you have it... a solid check mark in the "WIN" column for consumers over the interests of the banking industry. And I don't think Realtors, mortgage brokers, or even the banks themselves have come to fully understand... (Continue reading)
The Rush for Rentals by Investors Turns Into a Run for the Exit
Written on 26 Nov, 2013 at 23:55
In addition, spurned on by the Fed's QE and zero-interest-rate policy, Lord knows how many smaller companies and individual investors also jumped on the bandwagon, and as it has the tendency to do, the insanity drove up home prices at... (Continue reading)
I SAY GIVE HIM TWO ““ Ernie Banks Awarded Presidential Medal of Freedom
Written on 21 Nov, 2013 at 7:34
Today, Ernie Banks was at the White House being awarded the Presidential Medal of Freedom by President Barack Obama. It is the highest civilian honor that this country bestows, and this year was the 50th anniversary of the award,... (Continue reading)
NOW AVAILABLE: The RMBS Trust/Modification Analysis Report for Homeowners
Written on 15 Nov, 2013 at 21:11
With this report, when your servicer says they can't do something... you'll know whether what they've said is accurate or not. Imagine the power of being able to show a mediator exactly what's been done to modify the other... (Continue reading)
Realtors & Mortgage Brokers: Toughest Year for Housing Markets Since 2010 Ahead
Written on 11 Nov, 2013 at 16:51
This past September signified the fourth straight month of a decline in existing home sales, while mortgage interest rates hit two-year highs. The Mortgage Bankers Association index of mortgage activity is now at its lowest point since November of... (Continue reading)
Meet Thomas Cox, Esquire. A National Hero in Foreclosure Defense
Written on 14 Oct, 2013 at 21:38
Portland Maine attorney Thomas Cox is a national hero of the foreclosure crisis. Frankly, I thought everyone already knew that, but apparently not. So, if you aren't already familiar with what Tom has done and continues to do... (Continue reading)
SECURITIZATION: How our society changed when we learned to turn lead into gold.
Written on 30 Sep, 2013 at 13:07
Before securitization children were raised receiving fewer presents for their birthdays and holidays and I don't need a source for that statistic. Water is wet, the sky is blue, and that's a fact. Hotel rooms never cost $600... (Continue reading)
New Abuses in the Foreclosure Process Make the Dire… Dreadful
Written on 23 Sep, 2013 at 9:09
More than any other single factor, shame has made it possible for this country to lose over six million homes to foreclosure... and relative to the number of homes lost, they've been lost without a peep uttered in protest. ... (Continue reading)
Glaski Attorney Richard Antognini on the Court’s Decision and What’s Next for Mr. Glaski – A Mandelman Matters Podcast
Written on 12 Sep, 2013 at 4:28
Not only will Richard leave listeners with a level of understanding specific to the Glaski decision that would otherwise be unavailable, he'll talk about other recent decisions in California that he says are very important to homeowners... he'll offer guidance... (Continue reading)
Two -Year Housing Recovery Mirage Now Over… Bernanke Hoping to Retire Before Everyone Notices
Written on 23 Aug, 2013 at 20:42
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)
A Sword in a Field – Correlation is Not Causation
Written on 16 Jul, 2013 at 12:57
It's easy to misinterpret something about this crisis. But, it's important that we try to guard against that happening whenever possible for all sorts of reasons, not the least of which is that being wrong means wasting time that... (Continue reading)
One Bank Did Right by Homeowners & Shareholders – A Story You Haven’t Heard Before
Written on 17 May, 2013 at 17:40
There is one mortgage banker that did it right for their shareholders and borrowers. They didn't take TARP funds or any sort of tax-payer funded bailout... instead they took their losses, restructured the company, and protected their shareholders... ... (Continue reading)
Illinois Latest State to Make Foreclosing Much Harder
Written on 23 Feb, 2013 at 10:22
Okay, so that's GAME OVER for the State of Illinois. Ball four... take a hike... we'll see you back here in 2014 or 2015. Take some time off, you deserve it. ... (Continue reading)
About foreclosures, our housing markets, and economic recovery… oh, and lying.
Written on 14 Feb, 2013 at 22:01
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)
OCC Foreclosure Review RIP – Anyone Care for Cheese With their Whine?
Written on 17 Jan, 2013 at 13:03
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)
View from Inside the Financial Crisis with Former Treasury Chief Economist Phillip Swagel – A Mandelman Matters Podcast
Written on 9 Jan, 2013 at 9:27
Here's your first chance to listen to Phillip Swagel on a Mandelman Matters Podcast... he'll be back again... but you don't want to miss this one because we won't be going backward in time, so click PLAY below and listen... (Continue reading)
We’re Addicted to Denying our Addiction to FHA’s Mortgage Crack
Written on 23 Nov, 2012 at 6:13
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)
If FHA’s losses are due to bad economy, why is Fannie blaming borrowers in lawsuit against Bank of America?
Written on 18 Nov, 2012 at 19:24
Of course, what Bachus fails to mention is that if our government had done ANYTHING RIGHT in terms of dealing with the economic crisis that started in 2007... if even ONE of the programs that have been implemented over the... (Continue reading)
The Trillion Dollar Mistake That Triggered the Economic Meltdown
Written on 17 Oct, 2012 at 9:45
What could Mr. Bernanke and others have done differently? Addressed the real cause of the crisis, the lost trust part... by announcing that the U.S. government would be stepping into the bond market and guaranteeing the investment grade bonds...... (Continue reading)
The Foreclosure Crisis – We Won’t Be Able to Fix It, Until We Understand It
Written on 10 Oct, 2012 at 6:26
By understanding the truth of what happened and why at these two pivotal moments in time, everything else will fall into place, for it was these two moments that set the course for a global economic downturn that, if history... (Continue reading)
Katherine Porter to Make Sure Homeowners Get What Servicers Promised – A Mandelman Matters Podcast
Written on 4 Oct, 2012 at 9:27
Back in April of this year, they were granted 180 days to get their servicing operations ready to comply with the new standards, and as of yesterday, they'll be held to the 304 new rules for addressing the needs of... (Continue reading)
LBO AMERICA with Catherine Austin Fitts, A Mandelman Matters Podcast
Written on 7 Jul, 2012 at 5:50
Catherine Austin Fitts has perspective on the housing and mortgage meltdown like no other. Under President George Herbert Walker Bush, she was Assistant Secretary of Housing and Federal Housing Commissioner at HUD, where she basically ran the Federal Housing... (Continue reading)
OCC Raises the Stakes to Lure Homeowners? Right?
Written on 25 Jun, 2012 at 17:30
Anyway, so that's the deal... $500 to $125,000... PLUS EQUITY! It makes it sound like the worst you can do, assuming you get past the qualifying round, is the $500, right? Five hundred's not bad, I suppose. ... (Continue reading)
Elizabeth Warren Asks Netroots Nation a Question. Problem is, I think the answer is NO.
Written on 18 Jun, 2012 at 5:03
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)
In the Words of Goldman Sachs CEO, Lord Blankcheck…
Written on 2 Jun, 2012 at 22:15
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)
What the Fed Chief is Thinking…
Written on 30 May, 2012 at 9:41
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)
Finally, Jamie Dimon and I Agree on Something
Written on 11 May, 2012 at 3:03
Oh, good Lord. We're still doing this sort of thing, huh? Some guy at JPMorgan Chase in London was gambling with credit default swaps, no one was watching, and next thing you know the bank was down $2... (Continue reading)
Former NACA Home Save Counselor Says Commissions Create Complaints
Written on 9 May, 2012 at 15:51
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)
Debt Forgiveness – The IMF, Iceland, and the U.S. of the 1930s all say it works
Written on 7 May, 2012 at 6:25
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)
White Powder in Envelopes Mailed to Wells Fargo in NYC – Idiots happy it’s not toxic
Written on 1 May, 2012 at 10:21
AP reported that the powder in the envelopes caused evacuations at bank branches, but no injuries, as if that last part mattered in the least. Idiots appear to be happy that the powder was found to be cornstarch... as... (Continue reading)
We know they’re not evil, because they’re simply not smart enough to be evil.
Written on 23 Apr, 2012 at 14:06
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)
Thinking Out Loud… Über-Trendy Rich New Yorkers & Ethiopian Cuisine
Written on 22 Apr, 2012 at 9:34
Doesn't it just figure that in this country, where we have so much food we that throw away inconceivable amounts on an hourly basis and literally pay farmers millions of dollars not to grow stuff... that we'd have trendy intellectuals... (Continue reading)
Crimes of Hubris, Ineptitude & Folly: Geithner, Summers and Obama
Written on 18 Apr, 2012 at 11:15
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)
An Insider’s View of an Actual RMBS Securitization at Mandelman U.
Written on 2 Apr, 2012 at 8:15
What follows below are slides from an actual presentation of a Residential Mortgage-backed Securities - RMBS/REMIC deal... but NOT the slides from a "road show" presentation to potential investors... what you're about to see are slides from an INTERNAL meeting... (Continue reading)
GUEST POST: A Letter to President Obama, from James Deal, Attorney at Law
Written on 29 Mar, 2012 at 11:28
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)
You’ve got to give it up for the Spaniards… unless they’re bankers.
Written on 26 Mar, 2012 at 19:11
Clearly, today's news from Spain shows that when it comes to protesting, Americans have lost some of our creativity and are simply not up for it as often as we once were. Frankly, many have expressed concern about... (Continue reading)
Ellen Brown, President of the Public Banking Institute, Has a Plan – A Mandelman Matters Podcast
Written on 24 Mar, 2012 at 14:39
If you're not already familiar with Ellen Brown, then I might as well just go ahead and say: "Your welcome," because I can't imagine anyone not liking this prolific blogger, author of 11 books, attorney, and President and Chairman of... (Continue reading)
Bringing Up the REAR – Charles Gasparino, Fox Business Network
Written on 21 Mar, 2012 at 10:14
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
Written on 29 Feb, 2012 at 8:16
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
Written on 29 Feb, 2012 at 4:13
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)
Economy Recovering? No, it’s not. Housing? NO. Unemployment? NO. Stock Market? NO.
Written on 27 Feb, 2012 at 15:18
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)
Bank sues itself, wins, and then forces itself into bankruptcy to satisfy judgment
Written on 27 Feb, 2012 at 13:54
So, why did I write this? Because it makes just as much sense as everything else that's going on in this country, and at least it made me smile. ... (Continue reading)
Insider Says Wells Fargo’s Independent Foreclosure Review for OCC is “a Sham”
Written on 24 Feb, 2012 at 0:11
What follows is a podcast featuring the "whistle blower"... the anonymous independent file reviewer working for Promontory on the Wells Fargo Bank account that reached out to us because he was fed up. I verified his identity and spoke... (Continue reading)
The Good, the Bad and the Ugly in the Mortgage Settlement
Written on 12 Feb, 2012 at 17:37
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)
Foreclosing on Oscar… Mandelman’s List of Best Picture nominees
Written on 9 Feb, 2012 at 9:16
I haven't actually seen any of them, but I've gone ahead and described them, so you can see the candidates through my somewhat jaded perspective... and my list is likely a little different than the others you'll run across... I... (Continue reading)
OneWest Bank DOES IT for Lisa in Massachusetts! (DOERS ROCK!)
Written on 7 Feb, 2012 at 15:44
Plus, in Massachusetts, do you know how they do it? They auction the home off right on the soon to be ex-homeowner's front lawn, for all to see. I'll tell you what... that is some 17th century nonsense... (Continue reading)
Foreclosure Politics Here and Across the Pond – Professor David Coates on a Mandelman Matters Podcast
Written on 3 Feb, 2012 at 19:06
This Mandelman Matters Podcast with Professor David Coates is not the same thing you've heard before, as he covers the foreclosure crisis both here in the U.S and in the UK. He also talks about the global financial crisis... (Continue reading)
Freddie Mac’s Crimes Against Homeowners are NOT an Isolated Incident
Written on 30 Jan, 2012 at 18:35
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)
DOER ALERT: OneWest Bank Needs to STOP a Foreclosure Sale Monday Because It’s WRONG
Written on 29 Jan, 2012 at 20:31
In just two days from now, on Monday, January 30, 2012, at 3:00 PM... a terrible, tragic and yet easily avoidable event is scheduled to occur... and MUST BE STOPPED. OneWest Bank is scheduled to conduct a foreclosure auction... (Continue reading)
DOER ALERT: Wells Fargo this is Unnecessary, Unreasonable and Unthinkable
Written on 28 Jan, 2012 at 1:42
Because I just can't believe that anyone would intentionally do this to the parents of an autistic 12 year-old girl... invite them to apply for a loan modification, and then after six months, leave them over a weekend with the... (Continue reading)
Look, this just isn’t that hard… The Solutions to Pressing Problems.
Written on 24 Jan, 2012 at 12:28
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)
DOER ALERT: Dear Bank of America…
Written on 23 Jan, 2012 at 20:03
The man's wife passed away in 2006. They were married for 53 years. Your bank explained that a request for postponement went in on the 23rd of December 2011 on a loan which Bank of America agreed to... (Continue reading)
Credit Suisse Tells Bloomberg: “Mortgage Principal Cuts Don’t Help Homeowners?”
Written on 22 Jan, 2012 at 18:53
Reducing mortgage balances is a risky idea that hasn't been shown to keep borrowers who owe more than their property's worth in their homes, according to Credit Suisse Group AG. (CSGN). Suspending accounting rules is a risky idea that hasn't been... (Continue reading)
Calling All Lawyers to 5,000,000 Crime Scenes
Written on 20 Jan, 2012 at 10:21
Consider this... bankers say that they've been overwhelmed by the millions of homeowners unexpectedly seeking loan modifications and that's why applying for a loan modification has been such a nightmare. But, what about the number of foreclosures occurring in... (Continue reading)
I’ve found the problem in Washington… it’s some sort of time warp, or they’re just dumb.
Written on 17 Jan, 2012 at 9:34
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)
The Quiet Man… Utah Attorney Walter Keane – A Mandelman Matters Podcast
Written on 13 Jan, 2012 at 16:01
Utah Attorney Walter Keene is the lawyer that filed four quiet title claims last year, which means he was seeking to obtain a court order granting clear title to the properties in question. And all four were granted by... (Continue reading)
MY DOERS DID IT AGAIN! But it’s not over yet. (And Holly Says Thank You!)
Written on 31 Dec, 2011 at 19:50
I don't usually do this, but with Holly's permission, I've posted the three emails I received from her today. I get a lot of very flattering emails from homeowners across the country, and I appreciate them all very much...... (Continue reading)
DOER ALERT: Wells Fargo Bank… How could you do this to a mother of four?
Written on 30 Dec, 2011 at 11:37
Doug and Holly were excellent customers of your bank for over 16 years, and then they hit a rough patch. They needed the bank's help... some guidance to get them through difficult times. You had a chance to... (Continue reading)
ALJAZEERA… The year’s top story is not getting coverage…
Written on 29 Dec, 2011 at 19:51
ALJAZEERA: "If you want to find out about this story of the year and years past, in all of its disgusting detail, you can't just trust major media. You have to read Matt Taibbi in Rolling Stone, a music magazine,... (Continue reading)
FRONT LINE NEWS, A Mandelman Matters Podcast – December 23, 2011
Written on 23 Dec, 2011 at 9:58
FIRST UP: A favorable ruling from Florida's Supreme Court in the Pino Case... I ask attorney Matt Weidner and Foreclosure Hamlet's Lisa Epstein to tell us what it means to homeowners. SECOND STORY: A blogger in Ohio teams up with... (Continue reading)
‘Twas the Night Before Christmas – 2011
Written on 21 Dec, 2011 at 9:15
And, since it is the holidays, it's also time for my annual year-in-review-in-rhyme, read to the famous holiday poem, 'Twas the Night Before Christmas. I started writing my 'Twas the Night year-in-review in 2007, or at least that's the year... (Continue reading)
Mandelman on The News Dissector Radio Show with Danny Schechter
Written on 20 Dec, 2011 at 20:11
I was a guest on the News Dissector radio show with Danny Schechter out of NYC. And I was joined by one of the Occupy Wall Street organizers and Capt. (Ret.) Ray Lewis. Check it out... given the... (Continue reading)
Foreclosure Fraud North by Northwest with Attorney Shawn Newman, A Mandelman Matters Podcast
Written on 20 Dec, 2011 at 14:40
A Mandelman Matters Podcast - Washington State attorney, Shawn Newman is fighting to protect the rights of homeowners. His legal theories and experiences in court related to Fannie and Freddie "owned" loans are interesting, to say the least, and... (Continue reading)
DOER ALERT – Bank of America Disables a Disabled Vet
Written on 16 Dec, 2011 at 7:25
Bank of America... stop torturing disabled American veterans, and stop torturing Arlie Matthews and I do mean immediately... and I also mean... or else. He's a brave and strong guy, but I know he's got to be scared to... (Continue reading)
Neil Barofsky and American Banker Finally Catch Up to Mandelman Matters
Written on 15 Dec, 2011 at 19:54
No one helps those who don't help themselves. We need to be WE... and now. Because as long as the country believes that irresponsible borrowers are the problem, nothing will change for borrowers... not enough lawyers will join... (Continue reading)
GUEST POST: Welcome to Freddie and Fannie’s Mortgage Shell Game, By Shawn T. Newman, J.D.
Written on 12 Dec, 2011 at 20:30
Fannie and Freddie actually had a policy stating that they didn't want to receive the physical "notes?" This "policy" was created by Freddie and Fannie and clouds who actually has legal title to the property (i.e. mortgagee) and who... (Continue reading)
Letter Bomb Sent to Deutsche Bank CEO
Written on 10 Dec, 2011 at 0:06
The FBI has issued a statement saying that the Bureau is, "working with German authorities to assess the incident in Frankfurt and any potential threat to facilities or people here." NYPD has increased security around the Deutsche Bank locations in... (Continue reading)
Author Michael Hudson Knows The Monster – A Mandelman Matters Podcast
Written on 4 Dec, 2011 at 12:59
Here's something you can't do anywhere else... listen to author Michael Hudson not only talk with me about his book, but listen to how he applies his vast knowledge of the subject matter to what's going on today in our... (Continue reading)
DeMarco of the FHFA… Like when the baby gets a hold of a hammer.
Written on 1 Dec, 2011 at 13:37
So, I'm bringing all of this up because Mr. Edward DeMarco, who is just the "acting" director of the independent federal agency that placed both Fannie Mae and Freddie Mac into conservatorship in the fall of 2008, has actually become... (Continue reading)
Mandelman’s Monthly Museletter – Version 16.0
Written on 30 Nov, 2011 at 17:15
In this edition you'll find: 1. Robo-signing KILLS... 2. OCC proposes credit rating duties go to banks - A real conversation with a banker-friend of mine. 3. PMI Files Bankruptcy - Regulators step in and take over yet another mortgage... (Continue reading)
THE NEWS: What’s Occupying My Mind is Making Me Dizzy
Written on 29 Nov, 2011 at 11:14
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)
Bringing UP the Rear – Neil Lipschutz, Managing Editor, Dow Jones Newswire
Written on 28 Nov, 2011 at 10:54
Obviously, either Neal has the cognitive abilities of a fruit loop soaked in milk, or he's just disturbed. What do you suppose he thinks "spread" to Europe and its banks? I mean, I don't think loans can spread...... (Continue reading)
A Foot Soldier in the Foreclosure Wars – Matt Weidner, A Mandelman Matters Podcast
Written on 27 Nov, 2011 at 10:53
I wanted to have Matt on a podcast so both homeowners and other lawyers would have an opportunity to hear his views on the crisis today, and specifically what he's seeing in the Florida courts. And sure enough, Matt... (Continue reading)
Unmistakably April Charney – A Mandelman Matters Podcast
Written on 24 Nov, 2011 at 20:00
So, whether you're a homeowner fighting to keep your home... or a lawyer who represents homeowners in foreclosure, here's an opportunity to hear what April has to say about where we've been, where we are today, and where she thinks... (Continue reading)
Home sales contracts are falling apart 2X as fast as last year
Written on 23 Nov, 2011 at 18:32
Why? Well, according to the Realtors, it's credit scores and appraisals coming in too low. Well shave my head and call me Baldy... what do you know about that? I certainly do declare, how can such a... (Continue reading)
I, Robosigner… A three act play about affidavit fraud in AG Masto’s Nevada
Written on 18 Nov, 2011 at 17:52
... Faster than a NINJA loan originating at Wamu... More powerful than an unlimited warehouse line at Lehman Bros... able to see swaps and synthetics even when inside an SPE... Look, up in the sky... It's a bird... It's a... (Continue reading)
Professor Learns the Hard Way About Loan Modifications at Bank of America
Written on 15 Nov, 2011 at 22:38
MEMO TO BANK OF AMERICA... Why do you do these things to me? I was just sitting here minding my own business, perfectly content to write about Chase or Wells or anything else for that matter... but no, you... (Continue reading)
We’re Going to Need a Bigger Horse… Portland police back down, rather than engage Occupy Portland protesters
Written on 15 Nov, 2011 at 9:57
We need, as perhaps the late, great Steve Jobs might have said... to think differently, to fight differently. We need to scare them by making them realize that we are their source of power and just as we bestow... (Continue reading)
Our future hinges on just ONE thing…
Written on 14 Nov, 2011 at 12:06
You know the stereotype... we all do... reckless and greedy people who bought homes they could never hope to afford by signing their names on nothing down, 80/20 "liar loans" with negative amortization and teaser rates of 1%. And... (Continue reading)
Consumer Spending Up? Come on get happy…
Written on 9 Nov, 2011 at 8:31
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)
Disturbing News from Behind Closed Doors – Attorney Thomas Cox, A Mandelman Matters Podcast
Written on 8 Nov, 2011 at 0:08
Tom's going to share some things that are very disturbing... things he's discovered are going on behind closed doors in the mortgage banking industry... thinks you probably haven't heard about before... things we all need to know. Don't even... (Continue reading)
OCC’s Independent Foreclosure Review for Homeowners is Ready – But, so are the Scammers
Written on 4 Nov, 2011 at 3:42
The bottom-line is that this does appear to be a chance for people who were treated unfairly as part of the foreclosure process (and Lord knows there are plenty who fall into that category) to get a shot at some... (Continue reading)
The World of the Investor with Attorney Talcott Franklin – A Mandelman Matters Podcast
Written on 2 Nov, 2011 at 10:40
WHAT'S THE DEAL WITH INVESTORS? WHO ARE THEY? ARE THEY LOSING MONEY ON FORECLOSURES? What do the investors think about all these foreclosures? What's the relationship like between investors and servicers? Do investors want to modify loans? Do... (Continue reading)
THE CRAVEN, A Halloween Trick-or-Treat, With Apologies to Edgar Allen Poe
Written on 2 Nov, 2011 at 0:18
Quoth the Craven, "Nevermore."... (Continue reading)
What Shall We Tell Our Children, Mr. President?
Written on 27 Oct, 2011 at 9:19
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)
Attorneys: Foreclosure Defense at a Whole New Level – Max Gardner In-person or On video
Written on 26 Oct, 2011 at 9:02
Max basically gives attorneys his thirty-year law practice in a box with easy to follow assembly instructions and ongoing support. And there's nothing theoretical about what Max teaches attorneys at his workshops and seminars. In fact, I've seen... (Continue reading)
Mainstream media waking up to foreclosures being a big problem – And by big problem, I mean Geithner
Written on 25 Oct, 2011 at 17:41
I'm not sure what to say to that, now that I've read Zach's article and been shown more of what went on behind closed doors at the Obama White House. That mistakes were made is abundantly clear, but even... (Continue reading)
Public sector shedding 35k jobs a month — Republicans block bill to prevent further losses
Written on 25 Oct, 2011 at 8:03
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)
Obama’s New Plan to Help Housing Isn’t Worth Waiting For
Written on 22 Oct, 2011 at 8:17
Even Edward J. DeMarco, acting director of the independent Federal Housing Finance Agency says his fix will be more of a tune-up than an overhaul, with reduced "frictions" and "enhancements."... (Continue reading)
Optimism Lost, and by Optimism, I mean Ben Bernanke and the NYT
Written on 19 Oct, 2011 at 8:54
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)
Are Homeowners Suffering from LAS – Legal Abuse Syndrome?
Written on 19 Oct, 2011 at 1:24
Homeowners who have been forced into litigation in an attempt to save their homes, whether choosing to represent themselves, or hire an attorney, are battling against the largest financial institutions in the world in a court system that's anything but... (Continue reading)
What Obama Should Have Done – Ezra Klein, Part 2
Written on 17 Oct, 2011 at 21:07
I mean, here we had our "smart" president, and the first thing he does upon taking the reins of a nation in real economic peril, is throw together a spending bill whose numbers were pulled directly from the hindquarters of... (Continue reading)
CA’s Democrats in Congress Wake Up to Need to Address Foreclosures
Written on 16 Oct, 2011 at 22:39
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
Written on 15 Oct, 2011 at 6:43
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!
Written on 11 Oct, 2011 at 12:33
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)
Only One Paycheck Away from Disaster… No kidding, really? Go figure.
Written on 5 Oct, 2011 at 17:19
Since then, we've been bubbled into financial ruin. We bought high and sold low, until our 401(k)s turned into 201(k)s, and then we doubled down on shares of Pets.com, never bothering to question how the company planned to deliver... (Continue reading)
Attitudes on Wall Street: Dear God, Give Me Strength
Written on 4 Oct, 2011 at 6:03
Brancaccio asked about whether these Wall Street types recognized that bonuses are usually paid on profits, but that profits are "radically down," and Bethany replied that they don't. She said that there's a widespread belief that "it wasn't my fault,... (Continue reading)
There’s Pain in Spain as Banks Go Down the Drain… Let Me Explain
Written on 29 Sep, 2011 at 9:12
I wonder what will happen in the next few years as more loans default and the condition of Spain's banks deteriorates further. You don't suppose that will mean fewer loans and tighter credit, which will reduce the demand for... (Continue reading)