bank bailout: Take Action Realtors! Towards more meaningful Statistics - 10/30/08 03:13 PM
Realtors can be assigned very little of the blame for the present mortgage fiasco and bank bailout.
We have maintained accurate and reliable sale price data going back many years and this has helped Realtors provide good information for their prospective buyers and sellers and enabled appraisers to create reliable valuation reports.
My wife and I belong to RMLS Vancouver/Portland OR.  In two respects our basic data is misleading.
The "Days on Market" number has always related only to the most recent listing.  If the seller changed Realtors or the agent canceled and relisted (in order to make it look like … (1 comments)

bank bailout: Bank Bailout - Comments from customers - 10/26/08 06:26 AM
On Oct 23, 2008, at 4:45 PM, Jerry Rolling wrote and Bob Replied point for point
Bob,   Thank you for reading and responding to my attempt to enhance the media's attempts to explain the mess.  Although they have contributed to our understanding their reports are often tainted by their commentator's political bias and their inability to spend enough time to explain the history of how we got here.   If F & F did not exist there would be very little mortgage lending by banks.  Once they had used up a prudent portion their depositor's money they would not be … (0 comments)

bank bailout: The Origins of the Bank Bailout Part 2 - 10/18/08 05:53 AM
A customer of mine, Jeff Fisher, sent the following comment on my article Bank Bailout Part 1 at
The Origins of the Bank Bailout
 Jerry Rolling wrote:
> ** Whose Fault is it? **
> 1. Wall Street and Fannie and Freddie...
And now one of their principals is Obama's finance adviser and on the short list to become sec of treasury with the power granted by the so-called bailout.
> 6. Congress. Too much attention to minor issues. Too easily
> distracted by Lobbyists.
You haven't given Congress enough blame. Some of Fannie/Freddie's mistakes were driven by acts and oversight … (3 comments)

bank bailout: The Baby and the Bathwater - 10/09/08 06:29 AM
I have a concern.
 Collateralized Debt Obligations (CDOs) have been in the news a great deal in recent weeks linked to the Bailout and the financial situation affecting all of us.  CDOs originally were formulated to take whole mortgages, typically in $100,000,000 chunks, ensure the paperwork for each mortgage is spotless, insure each mortgage and apply a triple A rating to the resulting bond.  These bonds have been the gold standard for 40 years and have never failed.  Around 2000 political pressure to increase homeownership resulted in looser mortgage lending practices through FHA.
So far so good.  Looser lending practices resulted … (0 comments)

bank bailout: Three ARM/Pick a payment on two houses! - 10/04/08 10:16 AM
This week we had the oportunity to meet Hispanic homeowners who spoke very little english who wanted their home valued.  I and a Spanish speaking Realtor met with them and told them that their home was worth $240,000.  The mortgage on their home is $262,000 with $1180 per month payments.
Since that did not compute I examined the mortgage documents and discovered they had been paying less than the interest and their payments were about to increase to $2450pm.  We further asked where they got the $14,000 to put down and they said that they put a second mortgage on their other home … (2 comments)

bank bailout: The Origins of the Bank Bailout - 10/03/08 11:49 AM
Laypeople who want to keep up to date have been reading much about the situation but I have yet to see a narrative explaining each significant step of the way.  I do not pretend to know everything about this very complex set of facts and may err in some details but this is what happened.
 History.
 The role of Freddie Mac, Fannie Mae and others you haven't heard of yet expanded in the 1960s because of the first rule of banking.  That rules states "Don't lend long and borrow short".  That means don't lend money on a mortgage for 30 years … (1 comments)

 

Jerry Rolling

CRS GRI ABR Realtor Vancouver WA

Vancouver, WA

More about me…

Keller Williams

Address: 915 Broadway, Vancouver, WA, 98660

Office: (360) 281-8222

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