I’ve been reporting on Commercial Mortgage Backed Securities today and the fact that despite relatively low rates of default on commercial loans, investors are still running for the hills. The trouble, as with everything in today’s economy, is the unknown. Investors think CMBS is the next shoe to drop.    Read More

I've heard a lot of arguments against, but today I read the most compelling testimony from David Kittle, Chairman of the Mortgage Bankers Association before the Senate Judiciary Committee.    Read More

Home builder confidence has fallen to yet another record low. No surprise there, but in reading the release from the National Association of Home Builders on its sentiment survey, I had to wonder about one particular measure of the index.    Read More

Sure, lower prices get buyers off the fence, as we’re seeing now in California, where dirt-cheap prices are bulking up home sales. That’s just all about getting a great deal.   Read More

I want to talk about anger. Anger may just tank the TARP. It’s everywhere, from the measly pages of my blog, to the hallowed halls of Capitol Hill. The TARP money isn’t going directly to bail out the housing market, and let’s just say a lot of folks are PO’d.    Read More

I’ve just seen the latest numbers on the recently launched government Hope for Homeowners program, and I’d call them laughable if the whole thing weren’t so blatantly sad. Hope for Homeowners was launched Oct. 1 as part of the Housing and Economic Recovery Act signed into law on July 30,2008.   Read More

So here I am on Capitol Hill covering a hearing at the House Financial Services Committee (starring Chairman Barney Frank D-MA), entitled Private Sector Cooperation with Mortgage Modifications—Ensuring That Investors, Servicers, and Lenders Provide Real Help for Troubled Homeowners.   Read More

I’m all about the help, but I have some issues (I always have some issues). Citi is targeting borrowers who are not yet delinquent but who could become delinquent due to any number of issues, like loan resets, loss of jobs or home price depreciation.   Read More

Nothing like starting off a new week with a $29 billion net loss for the nation’s largest mortgage investor. Fannie Mae is currently under government guard, with the conservatorship instituted in September, but it still apparently can’t keep its balance sheet from joining the ranks of other massive mortgage meltdowns that seem to be par for today’s course.    Read More

President-elect Obama is meeting with economic advisors today, and you have to believe that the housing crisis will be pretty high on the agenda.   Read More