The housing market is showing some signs of improvement in 2013, but there are still challenges that stand in way of recovery.
Pew senior advisor Sheila Bair discusses a new paper that outlines the major challenges and potential solutions to improve the market. Some of the key recommendations include streamlining the home foreclosure process, particularly for vacant properties, and creating consistent standards for the mortgage servicing industry. Learn more at www.pewstates.org/housing.
image: New York Times
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Funny, I didn’t hear anything about making housing more affordable, since that would be taboo. Or justice, since that seems so passe now since TBTF did no wrong. “Some signs of improvement” isn’t accurate either, but it sure sounds good, and prices are going up, but again that doesn’t have anything to do with housing people.
Sheila let some families in the DC area live in your basement please.
It is funny how the FDIC under Sheila had experience with this mess first hand with IndyMac and Washington Mutual but what did Sheila do then and after the fact? Her insurance fund was in jeopardy of being under funded and then she would have had to borrower monies from Treasury and be under the thump of.
However Sheila makes it sound like she left in Jan 2009 when she stayed a couple years after the fact and as the regulator did she not know then that servicing was a joke?
Listen to who she said owned these loans private investors, and the government in Fannie, Freddie and FHA so why are we in negotiations with the servicers when it comes to this Independent (wink wink) Foreclosure Review Board to review HAMP alleged process loans.
Understand that the FHA does not lend monies and this FHA loans are FHA loans because its a program not a lender. The loan are placed into the Ginnie Mae pools if the lender who lent the monies wants to participate in the selling of Mortgage Backed Securities.
The lender closes the loan with the borrowers and that transaction is over (done), next the step in this Ponzi is to endorse the Notes in blank and relinquish it to Ginnie Mae who is not a lender and cannot by law purchase or sell the Notes. So in the end Ginnie Mae is in possession of these blank Notes that have become non-negotiable documents that are worthless because there not a legal sale of the debt!
Come on Sheila the jig is up!