From Alejandro Lazo at the LA Times: California calls -billion mortgage settlement ‘inadequate’ Calif. Atty. Gen. Kamala D. Harris’ office has called a proposed -billion settlement with the nation’s mortgage industry “inadequate.” “We’ve reviewed the details of the latest settlement proposal from the banks, and we believe it is inadequate for California,” Shum Preston,...
Read more »
The FHFA released their analysis on the effectiveness of principal reductions for Fannie and Freddie loans. The FHFA analysis showed that principal reductions would be more costly for taxpayers than other alternatives. Here is the letter: FHFA Releases Analysis on Principal Forgiveness As Loss...
Read more »
The federal government is exploring ways to build a hotline used for appraisal complaints but is running into several implementation and funding problems, according to the Government Accountability Office. The Appraisal Subcommittee was formed in 1989 to monitor how state and private lenders implemented...
Read more »
“The bursting of the global housing bubble is only halfway through,” The Economist magazine wrote recently. I disagree… Here in the U.S. at least, the housing bubble is completely over. It drives me nuts when I hear commentators say, “We’re halfway through,” and, “We...
Read more »
