The Sub Prime and Alt-A Crisis is a crisis and we all have to deal with it. It will continue to be in the news. Every special interest group will have a solution, one that benefits their objectives. Appraisers should be one of those groups, but as yet they appear not to be.
In these next two Runt Rants I
SAN FRANCISCO, Nov. 19 /PRNewswire-FirstCall/ — First American LoanPerformance, a member of The First American Corporation family of companies and a leader in residential mortgage data and analytics for the mortgage industry and Wall Street, today announced the release of its September 2007 LoanPerformance Home Price Index (HPI).
Ken Rossman, a guest author for Appraisal Scoop, has been quoted in todays newsday.com story by Katie Thomas - Homeowners entangled in loan scheme.
In this clip Peter Schiff and Yaron Brook discuss whether the mortgage bill in Congress will add fuel to the subprime loan fire.
Inman News reports: “The House of Representatives Thursday approved controversial legislation intended to combat predatory lending, amending some provisions to address criticism that the bill could worsen the credit crunch, but strengthening others.”
According to American Bankers’s Pipeline newsletter: Mortgage production news and trends by Harry Terris and Kate Berry - Download AmericanBanker: Cuomo Krenlinology (10-16-07) article (58.6K) :
A former aide to Andrew Cuomo said that the New York attorney general is likely aiming for a broad deal with the mortgage industry on appraisal practices, and that if he stops short of proving systemic fraud in court, his investigation probably will not spark widespread forced loan buybacks.
The Class Action lawsuits just keep on coming as NY attorneys file suits on behalf of Washington Mututal
SEATTLE–(BUSINESS WIRE)–Nov. 7, 2007–Washington Mutual, Inc. (NYSE:WM), In response to the press releases issued recently by the New York Attorney General’s Office regarding its probe of industry-wide mortgage appraisal practices.