Wednesday 4th December
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Fannie Mae CEO Agrees: Trump and Hillary should talk more about housing
Written on 3 Oct, 2016 at 20:07
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)
The Foreclosure Crisis is Dead. Long Live the Foreclosure Crisis.
Written on 2 Aug, 2016 at 17:50
RealtyTrac's June foreclosure report puts the best possible face on the foreclosure crisis, instead of admitting that it's far from over... and that HAMP needs to be extended. ... (Continue reading)
Richard Antognini, the Lawyer Who Took Yvanova to California’s Supreme Court – A Mandelman Matters Podcast
Written on 11 Mar, 2016 at 8:48
Richard Antognini is the lawyer who took the Yvanova v. New Century Mortgage case to California's Supreme Court. Don't miss what he has to say about the case.... (Continue reading)
Hillary wants prosperity, Fonda joins Greenpeace, Yellen Says Crisis “Set to Fade,” and other annoying nonsense.
Written on 23 Jun, 2015 at 21:52
Have we lost 10 million homes to foreclosure yet? Does anyone even care?... (Continue reading)
Getting a Mortgage Modified Today – A Real Life Case Study in Crazy
Written on 22 Jun, 2015 at 18:08
The foreclosure crisis is not getting better, as many would have you believe... in fact, it's getting worse once again... as its done many times over the last 6 years. ... (Continue reading)
What Congress Learned From TARP is Causing the Foreclosure Crisis to Continue
Written on 15 Jun, 2015 at 14:43
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)
Foreclosures are UP and Back in the Headlines Again
Written on 9 Jun, 2015 at 21:09
RealtyTrac just reported that, "bank repossessions hit a 27-month high in April at 45,168, up 50% from a year earlier." Uh oh... that doesn't sound like it's over, does it?... (Continue reading)
I’m Fed Up With Almost Everything in this Country
Written on 5 Jun, 2015 at 15:50
I’m fed up with, essentially everything. First of all, we live in a country that, politically speaking, is so comically deadlocked as to be incapable of doing anything. We’re like a quadriplegic, completely paralyzed from the neck down, pretending to... (Continue reading)
Bank of America Report: Housing to Start 3-Year Price Decline in 2017
Written on 4 Jun, 2015 at 20:52
A Bank of America analyst has published a report predicting the U.S. housing market will experience "three straight years of "modest" declines starting in 2017.... (Continue reading)
Supreme Court Rules… Homeowners Can’t Strip Underwater Seconds in Ch. 7 Bankruptcy
Written on 4 Jun, 2015 at 16:07
If you have a second that's underwater, the Supreme Court has ruled that there's no more getting out of it through bankruptcy. ... (Continue reading)
Counting on Working Past 65 is Statistically, Being Overconfident
Written on 29 May, 2015 at 20:35
The point is... if the HECM reverse mortgage for purchase makes sense for you then there are some major advantages to using it during your retirement years. If it doesn't, then don't do it. But, know the facts... (Continue reading)
Michael “Air” Jordan Sees $15 Mil Disappear into Thin Air
Written on 29 May, 2015 at 5:11
New home sales are down. They're only a small part of the much larger housing market, but their numbers are important to the U.S. economy in terms of job creation along with being a strong indicator of builder confidence... (Continue reading)
Judge Rules Wells Fargo Failed to Comply with 2010 Settlement – Many homes lost unnecessarily.
Written on 20 Apr, 2015 at 11:33
Why wouldn't every homeowner demand Wells Fargo be severely punished for disregarding a legal settlement, and for allowing people to lose homes unnecessarily?... (Continue reading)
Credit Scoooooooooore! By Tom Lewis of DailyImpact.net
Written on 19 Apr, 2015 at 21:04
Fair Isaac, the FICO score company, announced that they're introducing a new higher score to get people borrowing again. But will we fall for it this time?... (Continue reading)
THE HOMEOWNERS’ ANTHEM – 2015
Written on 15 Apr, 2015 at 1:54
Here lies the body of Mary Lee; tried to modify her loan when she was 33. For over five years she fought to keep her sanity; didn't tell a soul as a matter of vanity. ... (Continue reading)
SAY WATT? Fannie & Freddie Encourages Sub-Prime Lending, Can Mean Only 3% Down
Written on 23 Oct, 2014 at 9:52
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)
We’re Not Stopping the Foreclosure Crisis because it Affects Mostly Brown People
Written on 5 Dec, 2013 at 8:59
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)
Foreclosure Crisis Almost Over – It’s Magically Delicious
Written on 22 Oct, 2012 at 7:21
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)
A Letter to Brian Stevens at TBWS: We Need More Houses?
Written on 15 May, 2012 at 8:18
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)
Frank & Brian in Arizona for Spring Training: Think… Not, Work… Not.
Written on 21 Mar, 2012 at 7:42
Who knows... trying to pick the bottom has long since proven itself to be a fool's errand anyway, right? It certainly should have by now. My advice would be to buy on the way up. Missing the... (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)
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)
Hey Everybody… It’s “Pretend You’re Surprised About the Economy Day!”
Written on 1 Jun, 2011 at 9:51
Falling Home Prices, the Next Financial Crisis is Near, Defaulters Aren't Deadbeats After All, the Economy with Gwen Ifill and MERS has No Clothes.... (Continue reading)
FEDS Announce Enforcement Actions Against 14 Servicers, LPS and MERS… Hot Towels in Washrooms Threatened Once Again
Written on 19 Apr, 2011 at 14:41
Still, I'm committed to covering this subject even when doing so means that I have to start drinking at 9:30 in the morning... kidding, I'm just kidding... so, here's the news on the FEDS and their "enforcement actions," and I... (Continue reading)
Ice, Ice Baby – Iceland’s people give cold shoulder to paying for acts of reckless bankers.
Written on 21 Feb, 2011 at 8:21
Now, the British and Dutch governments want their money back, but Iceland's people are saying, well... no, not to put too fine a point on it. You might even say that the Icelanders are saying: "Hell no!" ... (Continue reading)
I Have Several Questions for Mortgage and Real Estate Experts…
Written on 5 Jan, 2011 at 19:35
There is no "market," right? We really don't know how low prices have already gone down to, because if the foreclosures were on the market or if banks were actually kicking all the people out that haven't made payments... (Continue reading)
Foreclosures Increase 11.2% in Third Quarter over Second Quarter of 2010. And that means…
Written on 30 Dec, 2010 at 8:18
Oh joy! Foreclosures should be peaking next year! Well there's something to look forward to, wouldn't you say? Why will they be peaking next year, you may wonder? Well, I'm forecasting they based on the current... (Continue reading)
Voting on Principal Reductions: Treasury: YES… FHFA: NO… Obama Administration: YES… Congressional Republicans: NO. Good Lord.
Written on 20 Dec, 2010 at 1:30
Obama has been pressuring FHFA to let Fannie Mae grant principal reduction... the President of the United States is pressuring them... Ohhh, is it like Guantanamo... or more like Canyon Ranch... pressure me some more, Barack... I like it when... (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)
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)
Optimism is Hard Thing of Which to Let Go – The Car Sales Recovery Surprise
Written on 13 Jun, 2010 at 20:27
Tell you what WSJ people... next time feel free to call me on stuff like that. I don't depend on automakers breaking things out, I actually have functioning eyes and ears and I use them pretty much all the... (Continue reading)