Author Archive
Feb
February 2012 Letters to the Editor
Our response to readers’ common real estate questions. Read source
Feb
Running Robo-Settlement Numbers
A potential $25 billion settlement between the nation’s four largest banks and the 50 state attorneys general over faulty foreclosure processing is imminent. Read source
Feb
Why shouldn’t we hate Wall Street?
This article disputes the claim that Wall Street is a vital component of a thriving economy and argues the current mortgage lending environment actually stifles the upward mobility of the middle class. Read source
Feb
Fed officials didn’t see it coming
The Federal Reserve (the Fed) recently released transcripts from its 2006 Federal Open Market Committee (FOMC) meetings about the housing market. They aren’t pretty. Before the Great Recession hit in 2007, the nation’s top economic minds brushed off the possibility that the declining housing market and ensuing recession would have any serious effect on the [...]
Feb
Are MGIC’s days to default numbered?
Reporting its sixth straight loss, the private mortgage insurer MGIC Investment Corp. (MGIC) announced it has gotten waivers from Fannie Mae to continue writing mortgage insurance policies. MGIC has suffered repeated losses covering mortgage lender risks of loss on foreclosure, inching closer to joining the ill-fated group of other beleaguered private mortgage insurers, including Radian [...]
Feb
Revised HUD-1 form to shed light on “appraisal charges”
With the introduction of appraisal management companies (AMCs), the newly created federal Consumer Financial Protection Bureau (CFPB) has taken a second look at the extent to which the HUD-1 Settlement Statement discloses appraisal fees. Contemplated changes include disclosing the amount of money received by the AMC in addition to the amount received by the appraiser [...]
Feb
Down payment insurance: a nice idea in Wonderland
People will begin buying homes again if the federal government protects their down payment from risk of loss, according to University of California economist, James A. Wilcox. Wilcox claims that there is a vast nationwide demand for so-called “buyer’s side mortgage insurance” among potential homebuyers who refuse to pull the trigger out of fear that [...]
Feb
Sticky prices, tricky situation
This article examines the myriad causes and consequences of the current sticky pricing situation in this Lesser Depression. Read source
Feb
Here’s to 2012: a first tuesday realty forecast
This article looks back on the big topics reported on the first tuesday journal in 2011 and forecasts the state of California’s real estate market and economy for 2012 and the years ahead. Read source
Feb
Frannie forbears, unemployed homeowners defer
Unemployed homeowners with mortgages owned by Freddie Mac and Fannie Mae (Frannie) now have the option of participating in a mortgage forbearance program. The revised policy took effect February 1, 2012 for Freddie Mac and will take place March 1, 2012 for Fannie Mae. Not all homeowners with a mortgage from Frannie – 60% of [...]