As I’m sure my industry-savvy readers — that would be you — know by now, President Obama sat down with Spencer Rascoff, CEO of Zillow, for a half hour interview in which the President answered questions that Zillow gathered from social media. The video is embedded above. Thing is, if we’re going to understand where … Read more
A couple of weeks ago, I wrote that if you have a REO or short sale practice, you want to pay attention to some legal cases going on around the country: Trouble is, MERS might lack legal standing to bring a foreclosure action. At least, that’s what the attorneys for the homeowners who are getting … Read more
In my earlier post on the New Normal in real estate, a commenter took issue with my predictions about the future of the 30-year fixed rate mortgage (among other claims). I thought I would expand on that aspect a bit. The specific mechanism that I think will be put in place is a change in … Read more
James Pethokoukis writes on Reuters today (h/t: Instapundit) that the Obama Administration may be planning to eliminate many/most/all underwater mortgages in a single swoop: Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage … Read more
James Pethokoukis writes on Reuters today (h/t: Instapundit) that the Obama Administration may be planning to eliminate many/most/all underwater mortgages in a single swoop: Rumors are running wild from Washington to Wall Street that the Obama administration is about to order government-controlled lenders Fannie Mae and Freddie Mac to forgive a portion of the mortgage … Read more
My friend Matthew Shadbolt alerted me to this editorial by Ken Harney, a columnist for the Washington Post, that was published on The Real Deal. Harney believes that the not-yet-fully-formed Consumer Financial Protection Bureau can’t get here fast enough, and that the days of wine and roses will soon dawn upon us: The financial reform bill … Read more
In part 1, I laid out some hints of what the Obama Administration has in mind for a new federal housing policy that would “reset the rules of the market” and engage in a “fundamental rethink” not just of the mechanics of housing finance, but of the objectives of housing policy themselves. The Treasury now … Read more
In part 1, I laid out some hints of what the Obama Administration has in mind for a new federal housing policy that would “reset the rules of the market” and engage in a “fundamental rethink” not just of the mechanics of housing finance, but of the objectives of housing policy themselves. The Treasury now … Read more
There was, apparently, an earthquake in Washington DC not too long ago. Thankfully, no one was hurt, and no serious property damage occurred as the 3.6 magnitude tremor rolled through. Mere days later, however, I learned that another tremor — this one not registered on any geological survey — centered around Washington DC occurred. From … Read more