Are Fewer New Homes Good For America? – By Peter G. Miller – We really don’t need more new homes in the sense of supply and demand, but we also don’t want to demolish the homebuilding industry and lose the related jobs and spending. … The real solution to these problems is stop the bias against real estate investors. That would bring more buyers and dollars into the marketplace, demand would increase and then more supply could be absorbed. … – OurBroker.com
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What’s Driving Mortgage Delinquencies? – Author: Frank Nothaft (of Freddie Mac) – … Our seriously delinquent rate is lower than the industry average for a couple of important reasons. First, Freddie Mac primarily operates in the prime, conventional conforming mortgage market – and we mostly buy 30- and 15-year fixed-rate mortgages. In addition, Freddie Mac has been a leader in identifying and addressing delinquencies before they become foreclosures. … – Riskcenter.com
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Treasury’s Geithner Urges End to Fannie, Freddie ‘Ambiguity’ – By Rebecca Christie and Phil Mattingly – … Geithner said the Treasury Department and the Department of Housing and Urban Development will issue a request for comment by April 15 on how to overhaul the U.S. housing-finance system and its regulatory structure. The government needs to make sure there is “no ambiguity over the status or allowable activities of any private entity which enjoys any benefits or protections from the government,” he said. … – Bloomberg
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gaming the law? – A California-Brewed Recipe For Litigation – BY T. ROBERT FINLAY - As many readers may recall, the California Legislature enacted Civil Code Section (§) 2923.5 in July 2008, requiring that the foreclosing party contact the borrower in an attempt to work out a loan modification prior to initiating foreclosure. … Many borrowers are trying to take advantage of this opportunity not by seeking a loan modification, but rather by challenging the form of the declaration attached to or included in the notice of default … – MortgageOrb