Brown Meets at White House as Mortgage Reform Gains Steam

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  1. I see the summary made no mention of reforms to the condo financing requirements. Does anyone know if this was discussed at all, are there any plans in place to slacken restrictions on offering financing to condo buyers?

  2. Thomas Pollak

    First and foremost, the ‘mortgage-backed-security’ market is what caused the problems in the first place aided and abetted by the security rating companies predominately, S&P, Moody’s and Fitch, who all should be jailed. Therefore very serious attention should be paid to preventing this type of failure from again happening!!
    Second, what is this “National Association of Hispanic Real Estate Professionals” ?
    We are either REALTORS or we are not. I am not hyphenated in my name or in the services I provide to any of my clients whether Caucasian, Negro, Asian, native American of if they come from anywhere else. I am ashamed that NAR has not laid out our policy that recognizes all peoples serving and being served without differentiation or distinction. Having a distinction in the very name shows that we ARE UNPROFESSIONAL!

  3. Rosalie James

    How is it that back in the day when we did manual underwriting, Hud had Foreclosures but was in the black. Hud was pounding in our head to serve the underserved which of course was risky but they were the only government agency in the black.Is it because of volume on why is Hud continuing to raise the MIP. Is it because they have less volume due to stricter guidelines,? HUD never did no income qualifying loans, actually they didn’t do any loans during that period. What has changed to cause HUD to be more concerned about profits and more stringent in causing lenders to be afraid to do loans for fear they will lose their authority? With so much automation why don’t HUD spend more time on auditing documentation on fraudulent lenders and loan officers instead of everyone worrying about report cards. Ex-underwriter but never had any sanctions because I made sense of my approvals.

  4. John Wm. Devereux, Jr.

    I hope, as a real estate broker and father of children who have been greatly affected negatively by student loans, that these burdensome loans be given adequate review and consideraton with a resolution to lessen this burden and to allow more opportunity for purchase of a home,,,,,by making major credit reductions of the loan balances, of the interest rates, and of the large weight placed on such debt. This unfortunate situation needs to be addressed immmediately……as it will help releave unneeded pressure while encouraging and allowing for home purchases, and also allowing for increased availablity of more spendable income for our younger generation.

  5. It’s nice to see NAR leadership providing input on this important issue that affect most Americans.

    When Americans need a home bought or sold, they should always consult a professional Realtor®.

  6. Debbi Cadwallader

    My sentiments exactly, Thomas Pollak. As hard as we have worked to accept all peoples and appreciate all cultures what is the point for NAR singling out one group of Realtors? What’s next, the National Association of White Anglo-Saxon Protestant Realtors?

  7. simone hardy

    Thomas Pollak you used the “negro” to describe African-American or black clients that you work with? Very disrespectful and unprofessional

  8. Sandra Jackson

    I concur with Ms. Simone Hardy comment…

    “Thomas Pollak you used the “negro” to describe African-American or black clients that you work with? Very disrespectful and unprofessional”