![\"pipeline-press\"](\"http:\/\/mortgagenewsclips.com\/wp-content\/uploads\/2010\/01\/pipeline-press10.png\")
<\/a><\/p>\n\u00a0<\/p>\n \u201cNothing is worse than that moment during an argument when you realize you’re wrong.\u201d I wonder if Wayne D. Puff, who ran a huge Ponzi scheme from 1998 through 2005, ever felt that. Last week in New Jersey he was sentenced to 18 years in federal prison and ordered to pay more than $100 million in restitution<\/em> after his company (New Jersey Affordable Homes) accepted $123 million from investors, attracted to the annual returns of 15-20% from his business of buying, renovating and reselling real estate, using the time-honored tradition of fudging applications, having appraisers pump up values, and flipping properties.<\/p>\n In more \u201cgreat\u201d news items is news like the kind that is issued by market researcher RealtyTrac, which stated that 2.8 million US properties had foreclosure filings in 2009 in spite of legislative and industry-related delays and loan modifications<\/strong>. The Federal Reserve is scheduled to wind down its MBS purchase program at the end of the first quarter, and tax incentives will expire at the end of April. Many markets still have too many houses for sale and too few buyers, and of course tight underwriting guidelines don\u2019t help the supply & demand issue as appraisers continue to struggle to confirm sales prices. That being said, many markets are seeing stable prices and continued solid interest, especially on the low end.<\/p>\n What do Federal Home Loan Banks do all day besides issue research? They also do a few workshops and many are free. For example,the San Francisco Bank is hosting 2010 WISH and IDEA workshops on the 25th<\/sup> for loans for the first-time homebuyer matching grant programs.<\/strong> \u201cBoth programs can also complement or supplement a myriad of local, state, and federal programs and initiatives.\u201d E-mail communityinvestment@fhlbsf.com<\/a> with questions, or register at www.fhlbsf.com<\/a><\/p>\n The Federal Deposit Insurance Corporation (FDIC) does more than insure deposits and close troubled banks. On January 29th<\/sup> the FDIC will host a day-long symposium to discuss issues and strategies available to financial institutions for managing their exposures to interest rate risk (IRR)<\/strong>. \u201cWith a historically steep yield curve and low short-term interest rates, it’s vital for institutions to have robust processes for measuring and mitigating risks posed by potential changes in rates.\u201d Speaking will be Federal Reserve Board of Governors Vice Chairman Donald Kohn and PIMCO CEO Mohamed El-Erian. If you\u2019re around the FDIC’s Arlington, Virginia facility that day, check it out. RSVP to Greg Hernandez in the FDIC Office of Public Affairs at GHernandez@fdic.gov<\/a> or to request an invitation, please contact N. Michelle Rose at NRose@fdic.gov<\/a>.<\/p>\n How about some common sense legal RESPA information? The Prieston Group is hosting a January 21st<\/sup> teleconference that will cover RESPA<\/strong> from the point of view a regulatory law firm concentrating on laws and issues pertaining to mortgage brokers and their consumers. \u201cIf you have any questions about how to put the new rules into practice, what must be disclosed, or would like to walk through a particular scenario that you’ve encountered send your questions to clientservices@priestongroup.com<\/a> and we will be sure to include them on the teleconference.\u201d Write to Mary Gamble if you\u2019re interested in the class: mgamble@priestongroup.com<\/a><\/p>\n more news on HUD and FHA, FDIC Bank Shutdowns, First Horizon, Citigroup, BB&T, GMAC, Bank of America, Flagstar, the economy, and joke of the day … <<< CLICK HERE TO CONTINUE<\/a><\/strong><\/p>\n \u00a0 \u00a0 \u201cNothing is worse than that moment during an argument when you realize you’re wrong.\u201d I wonder if Wayne D. Puff, who ran a huge Ponzi scheme from 1998 through 2005, ever felt that. Last week in New Jersey he was sentenced to 18 years in federal prison and ordered to pay more than […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-200197","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/200197","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=200197"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/200197\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=200197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=200197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=200197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"rob-chrisman-daily\"](\"http:\/\/mortgagenewsclips.com\/wp-content\/uploads\/2010\/01\/rob-chrisman-daily10.jpg\")
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