by
Peter G. Miller
November 13th, 2007
In my column for Realty Times this morning there is a discussion of recorded home values.
In many communities it would appear that despite a huge increase in foreclosures that home prices are pretty stable. This logically makes no sense if the idea of supply-and-demand is read more
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by
Peter G. Miller
November 12th, 2007
Richard Armey, Republican majority leader of the U.S. House of Representatives from 1995 to 2001, and now chairman of FreedomWorks Foundation, says that current proposals to reform the FHA mortgage program won’t work.
Writing in The Washington Times, Armey says that “use of FHA insured loans so more read more
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by
Peter G. Miller
November 11th, 2007
New York state attorney general Andrew Cuomo has created a firestorm by alleging that appraisals have been systematically inflated. In response, the Mortgage Bankers Association defines the issue this wayread more
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by
Peter G. Miller
November 9th, 2007
With lenders getting slapped around on Capitol Hill, it’s not surprising to find that the Mortgage Bankers Association “cannot support” the current efforts at mortgage reform.
The idea of “broad national uniformity” sure sounds enticing, the idea of having one set of mortgage rules across the country. But if federal rules are weak and pre-empt read more
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by
Peter G. Miller
November 7th, 2007
With the passage of H.R. 3915, the Mortgage Reform and Anti-Predatory Lending Act of 2007, the House Financial Services Committee chaired by Rep. Barney Frank (D-MA) and with bipartisan backing has taken a huge step toward reforming the lending system.
Below please find read more
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by
Peter G. Miller
November 7th, 2007
Here’s a bet. Unions are about to become a lot more active in the mortgage debate.
Unions in the U.S. represent 12 percent of the workforce. That’s some 15 million people, a big number but a lot fewer people than in the past. Union read more
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by
Peter G. Miller
November 6th, 2007
The Federal Reserve has just released a new report which confirms what common sense and anecdotal stories have been saying for the past six months: Lenders are tightening loan standards, including loan standards for borrowers with great credit.
According to the Fed’s October 2007 Senior Loan read more
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by
Peter G. Miller
November 6th, 2007
It all started with an op-ed piece about the FHA program in The Wall Street Journal by John Berlau, director of the Center for Entrepreneurship at the Competitive Enterprise Institute.
Now it’s a debate with HUD.
Entitled read more
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by
Peter G. Miller
November 5th, 2007
Tuesday, November 6th, will be a big day for borrowers, lenders and the nation’s economy. Why? At 10 AM tomorrow the House Financial Services Committee will meet in 2128 RHOB to “markup” several bills which are central to today’s mortgage crisis. The most important is read more
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by
Peter G. Miller
November 4th, 2007
This is a blog where we call things as we see them. That means we’re critical when we think criticism is appropriate and we’re supportive when we think folks have done something right.
All of which brings us to the FHA. There are some things which the FHA could do better — for instance, restoring read more
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by
Peter G. Miller
November 2nd, 2007
You borrowers are screwing up the economy by not refinancing your toxic loans.
Who says?
Our Secretary of the Treasury, Henry M. Paulson, Jr.
“Most of the servicers have aggressive programs underway to reach borrowers who are having trouble paying their mortgages,” says Paulson. ” read more
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by
Peter G. Miller
November 1st, 2007
Prof. Samuel D. Bornstein has again been kind enough to post on our site, and says in part that “I fully agree with your argument that certain lenders have taken undue advantage of trusting unsuspecting borrowers.”
Actually, that is not my view at read more
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by
Peter G. Miller
November 1st, 2007
Efforts by HUD to curtail third-party down payment assistance programs have now ground to a halt, reports the Bloomberg News Service.
Bloomberg says that the U.S. District Court for the read more
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