Wednesday 8th May
Home » Archives
IT’S BACK & IT’S HERE: Mandelman’s Monthly Museletter – Version 9.0
Written on 19 Nov, 2010 at 16:55
1. Help is NOT on the Way… 2. Go see the documentary “INSIDE JOB”… if it’s not already too late. 3. One and Done… I Agree… Obama Shouldn’t Run in 2012. 4. The Government is Launching Criminal Probes Into... (Continue reading)
QE2 Leaves Port, Bernanke Takes Leave of Senses
Written on 15 Nov, 2010 at 13:59
I want to go on record as saying that Bernanke’s QE2 has no chance of working, in the sense that it will do nothing positive in the long run, and won’t even do much in the short run to help... (Continue reading)
Why Servicers Foreclose When They Should Modify… YAWN.
Written on 8 Nov, 2010 at 19:36
So, I have bad news... help is not on its way. No one is going to do anything to make this situation better. It's up to us and us alone. In my mind this is war, people,... (Continue reading)
This country has changed. And it hasn’t. The power of the people remains intact.
Written on 3 Nov, 2010 at 5:21
Join me now for the stories of three such Americans. May their stories remind you of the power we all posses to serve our country and help it grow and prosper, so that our government of the people, by... (Continue reading)
Report Shows Treasury Disagrees With Loan Mod Decisions at Chase, Wells & BofA – Requires Servicers to Make Changes Going Forward
Written on 27 Sep, 2010 at 23:55
Well, in the August HAMP Report, which is published monthly by Treasury, is a chart that shows that Treasury has disagreed with a higher than average number of the decisions being made by CHASE, Wells Fargo and Bank of America.... (Continue reading)
The American Recovery and Reinvestment Act – Our Tax Dollars at Work
Written on 26 Sep, 2010 at 0:31
How many homes could we have saved with $111 MILLION, Wendy? How many people could we have fed… or trained to be able to get a new job one day? We’re talking about $111 MILLION, damn it. ... (Continue reading)
AMERICA LOST: Treasury’s meetings with bloggers tells a story that I didn’t want to hear.
Written on 30 Aug, 2010 at 10:34
It made me sad to know what Treasury Department officials had said about the foreclosure crisis and HAMP… very, very sad. In fact, I can’t think of another time in history when my government acted as these guys have... (Continue reading)
Federal Court: Borrower is INTENDED 3rd Party Beneficiary of HAMP – Homeowner Sues for Breach
Written on 25 Aug, 2010 at 6:57
Potential Game-Changer Alert... District Court Judge Says Homeowner is the Intended Third Party Beneficiary to the contract between Fannie and servicers... and that means the right to sue yours.... (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)
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)
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)
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)
HAMP. IT’S A REAL CLASS ACTion
Written on 14 Jun, 2010 at 23:03
Yes, you read that right. NCLC, et al, are suing the banks over the travesty that is HAMP. We’ve all been waiting for this day for a long time now, and it finally arrived. So, don’t rush... (Continue reading)
ABA and More Than a Dozen State Bars Ask Congress for Lawyer Exemption on Loan Modification Rule
Written on 4 Jun, 2010 at 7:03
“A growing list of more than a dozen state bars and the ABA have asked for changes in congressional legislation aimed at protecting consumers from financial fraud because it contains language so broad that the everyday work of lawyers in... (Continue reading)
Nina Easton’s HOT Stocks for Homeowners Losing Homes
Written on 1 Jun, 2010 at 5:42
No, folks… the good news for our emerging foreclosure industry, and for my new Empty Homes Hi-Yield Bond Fund, is that our government has failed at every single turn in trying to stem the tide of foreclosures in this country,... (Continue reading)
FHA-HAMP Helped 171 Homeowners Nationwide in April
Written on 22 May, 2010 at 18:31
The HUD Neighborhood Watch Website shows 171 FHA-HAMP modifications for the month of April 2010. What? Did they have to win a drawing?... (Continue reading)
My Year in A-Trance: What I’ve Learned About Loan Modifications
Written on 4 May, 2010 at 1:50
Why the banking lobby starts to look downright puny next to millions of American homeowners all shouting at the same time… “Congress better take note! We intend to use our VOTE!” Yep, after that the foreclosure crisis would... (Continue reading)
Obama Asks for Help from Public to Reform Housing Finance System?
Written on 15 Apr, 2010 at 1:14
Do you suppose that next week he's going to ask if we have any thoughts on Afghanistan? Oh my God! I'm taking an Adivan. Who did he ask about health care reform? Oh my God! ... (Continue reading)
HAMP’s New Enhancements are Stupid and I’m Getting Tired of Stupid
Written on 10 Apr, 2010 at 20:43
They did it again, damn it. The Harvard contingent that’s packed in like sardines in this administration once again demonstrated that they have no idea what they’re doing when it comes to the foreclosure crisis.... (Continue reading)
MANDELMAN’S MONTHLY MUSELETTER ISSUE 6.0
Written on 3 Feb, 2010 at 15:54
1. Obama Administration touts success with housing. 2. Quotes about Goldman Sachs. 3. HAMP Waiver 4. FHA is Going Down 5. Florida Bankers Draft Legislation... (Continue reading)
BREAKING NEWS: Treasury Announces Much-Awaited Major Improvements to HAMP Loan Modifications
Written on 28 Jan, 2010 at 23:15
Recognizing that the Making Home Affordable and HAMP loan modification plan are ridiculous failures, President Obama and Secretary Geithner worked tirelessly and today announced how they've fixed the problems.... (Continue reading)
Today’s Weather in India – Low 80s, Not a Cloud in the Sky.
Written on 25 Jan, 2010 at 3:00
So, I bet you’re wondering how this whole thing happened. Funny story… I was actually trying to get my mortgage modified and since President Obama announced that there was now a fabulous government help-line phone number I could call,... (Continue reading)
Look What Alan Zibel of Associated Press Finally Figured Out
Written on 18 Jan, 2010 at 12:41
Alan, what are you babbling about… a recovery in the housing market last summer? Are you a crack smoker, Alan? I’m so sick of this kind of propaganda being espoused by know-nothing journalists that it’s making me physically... (Continue reading)
CNBC’s Diana Olick’s Husband is More Than Just a Little Scared Tonight…
Written on 8 Jan, 2010 at 5:31
The idea behind principal reductions is to prevent the United States banking system from imploding, and to prevent the deflationary spiral we’ve been in for the last two years from becoming a full scale depression from which we are unlikely... (Continue reading)
Obama and Bankers Meet at White House
Written on 15 Dec, 2009 at 14:02
Oh, you know what… stop treating me like I’m a stupid child… the banks are NOT back on their feet in any way, shape, or form… period. In fact, the banks have the same problems they did a year... (Continue reading)
T’was the Night Before Christmas-2009
Written on 12 Dec, 2009 at 6:04
Each year, right about this time, I write a political year-in-review, which is read to T'was the Night Before Christmas. Hope you enjoy it and that you have a fabulous season.... (Continue reading)
BREAKING NEWS: Amendment Allowing Judges to Modify Mortgages to be Included in H.R. 4173 – Wall Street Reform and Consumer Protection Act
Written on 8 Dec, 2009 at 4:01
We need judges to be able to write down mortgages on primary residences because the banks aren’t doing it voluntarily, the administration’s Making Home Affordable plan isn’t working, and the result continues to be millions of foreclosures that are destroying... (Continue reading)
Making Home Affordable Program: Treasury Finally Admits IT’S A DUD!
Written on 6 Dec, 2009 at 8:27
As a nation, we don’t want to modify mortgages for the benefit of those in foreclosure, we need to modify mortgages for the benefit of those not yet in foreclosure. Or in other words, don’t modify my neighbor’s mortgage... (Continue reading)
THE JURY IS IN: Obama’s Foreclosure Program Run by Morons… and Trial Modifications are the Biggest Loan Mod Scam Ever
Written on 3 Dec, 2009 at 19:11
I don’t know about you, but 1700 out of 650,000 makes me want to believe that the 1700 were mistakes that slipped through. It makes more sense to think that the HAMP program was designed to create foreclosures… and... (Continue reading)
Loan Modifications: Obama’s Part of Problem, Not Solution
Written on 29 Nov, 2009 at 6:53
President Obama… we haven’t heard from you on the housing and foreclosure crisis since last spring when you gave a speech to adoring and cheering crowds. You set their expectations way above what your program delivers, your administration has... (Continue reading)
Loan Modifications: 500,000 or 1200? All right… ENOUGH is ENOUGH.
Written on 31 Oct, 2009 at 7:29
Of course, I’m no real estate expert, but maybe… just maybe… our government should step in and do something about the crimes being perpetrated by banks and mortgage servicers against homeowners and our nation every day in this country. ... (Continue reading)
AP Reports: Government Overstated Jobs Created by Stimulus by Many Thousands
Written on 29 Oct, 2009 at 8:09
And I most definitely want the $28.3 million that the administration was about to piss away on a company offering to staff a call center with a handful of underachievers that will answer questions like: “How do I find the... (Continue reading)
NACA’s “Save the Dream Tour” Now Disappointing Thousands in Phoenix?
Written on 3 Oct, 2009 at 0:53
So, as you might expect, our single mom tried to call her Wells Fargo representative at the number she had been given while she was saving her dream two months earlier… but she was never put through to her. ... (Continue reading)
Mandelman’s Monthly Museletter: Issue 4.0
Written on 2 Oct, 2009 at 5:02
1. A Trial Period Modification is NOT a Modification 2. Mandelman’s Mandates… 3. Bernanke Blathers… 4. A Deflationary Spiral That Dreams of Being a Standstill 5. How’s the President Doing With His Whole Loan Modification Thing? 6. How About a Principal Reduction? Why yes,... (Continue reading)
Liberal Billionaire George Soros… Major Shareholder in IndyMac/One West Bank
Written on 12 Sep, 2009 at 23:21
They declined to participate. Am I the only one that feels like a 5 year-old just told me he or she wasn’t going to take a bath as requested? Oh really? Get in the damn tub now…... (Continue reading)
My Grandmother, Standard Oil & the Banks
Written on 11 Sep, 2009 at 7:30
With the foreclosure crisis still being allowed to ravage the country unchallenged, the risk to banks going forward is both significant and real. The line between being accepted by the public and being a pariah, is as thin as... (Continue reading)
MY SWAN’S SONG: Testimony Before the United States Senate on the State of Foreclosures & Loan Modifications
Written on 25 Aug, 2009 at 8:25
I read her testimony throughout last night, until the sun started to rise outside my window. And when I finished, I sat there and I cried. It’s been a long road… and I pray that this document at... (Continue reading)
Obama’s New Federal Agency: The Comedy Board
Written on 18 Jul, 2009 at 15:37
President-elect Barack Obama, in a press conference held earlier today at a Georgetown Comedy Club, announced the formation of a new federal agency that will officially operate under the name: The United States of America Comedy Board, or TUSOACB, thus... (Continue reading)
July’s Issue of The Niche Report… Bringing Up the Rear: FDIC Chair Sheila Bair
Written on 9 Jul, 2009 at 15:42
Tweet In case you don’t already know, I wrote the cover story for the May issue of The Niche Report magazine, titled “Pigs, Puppets & People in Peril – The Administration’s Curious Case Against Loan Modification Firms”. Â And it was... (Continue reading)
LOAN MODIFICATIONS: IS THIS WHAT I’M SUPPOSED TO BELIEVE??
Written on 2 Jul, 2009 at 1:13
USE YOUR HEAD. THIS MESS WASN'T YOUR FAULT. POOR PEOPLE WHO WANTED HOMES DIDN'T CAUSE THE WORLD'S BANKING SYSTEM AND WALL ST. TO FAIL. DON’T BE A SUCKER FOR THE BANKS... AGAIN.... (Continue reading)
NY’s Attorney General Cuomo & The Loan Modification Industry
Written on 13 Jun, 2009 at 17:01
Then, proving to me that he was completely ignorant and insensitive about the situation he is investigating, Cuomo said: "No one has to pay for this service."
 Well, alrighty then. At 48 years old I have just been shown the country’s... (Continue reading)
It’s Time to Play… Housing Jeopardy!
Written on 4 Jun, 2009 at 3:54
ANNOUNCER:Yes, it's time to play Let's Solve the Housing Crisis on the game that at least half the country loves: Heal the Misfortune!... (Continue reading)
Have You Called the Homeowner’s HOPE™ Hotline?
Written on 1 May, 2009 at 11:20
One of the things that concerns me is the way Ms. Hernandez talked about the need for even more patience than usual, saying: "The recent dramatic increase in calls to the hotline may require homeowners to be more patient... (Continue reading)
Obama Administration is Drawing Up Plans to Disclose Conditions of Biggest Banks
Written on 15 Apr, 2009 at 22:44
Here we have a senior official who declined to speak on the record because: “the extent of the disclosures were still being debated?” Were they now? By the Obama administration? Now that’s transparency. Change I can Goddamn... (Continue reading)
HUD Says Hope-4-Homeowners Modified ‘1’ Mortgage.
Written on 15 Apr, 2009 at 18:28
Tweet Yes, you read that right… just one very lonely mortgage. Â Only 399,999 more to reach their goal! Well, it’s been a long time coming in my opinion, but Brian Sullivan of Fox Business News has finally looked under the... (Continue reading)
Giving Money Back, Not Profitable: Federal Reserve Study Proves
Written on 12 Apr, 2009 at 12:03
The Federal Reserve Bank of Boston released the results of its in-depth study on President Obama’s plan to solve the foreclosure crisis, and the conclusions shocked politicians and bureaucrats alike from coast to coast. ... (Continue reading)
Obama’s Campaign Against Mortgage Modifications
Written on 11 Apr, 2009 at 23:19
President Obama has apparently embarked upon a campaign to put all private sector loan modification firms out of business because some are apparently scams. It's a curious approach when you consider that there have been and continue to be... (Continue reading)
I Finally Figured It Out… It’s The Banks.
Written on 5 Apr, 2009 at 15:16
The interview went great. The guy was wonderful. He explained everything he goes through with customers and for customers and I gained a much deeper understanding of what was actually involved in a loan modification. He even offered to call... (Continue reading)
I’m Sorry Mr. President That’s Just Not Enough
Written on 20 Feb, 2009 at 18:05
President Barack Obama traveled to Mesa Arizona this week to tell the country about his Homeowner Affordability & Stability Plan to fix the housing market. I didn't watch his speech. I didn't listen to it on the radio. I didn't... (Continue reading)
