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hud: Response to David H Stevens, Dept. of HUD - 01/26/10 12:02 PM
Thank you for being accessible and your service. I hope you take my comments in the spirit they are intended. First off I sincerely believe there is a huge disconnect. HUD is running around making changes that do not impact the consumer positively and in fact doing harm.
The revised Good Faith Estimate is the first item. Explain to me what the problem was with the previous format. To me the purpose of this "improved" document is to regulate how much a mortgage professional can make (nothing to do with consumerism) even though every other profession in the world including the medical … (1 comments)

hud: CHANGES AT FHA Direct from HUD - My comments follow: - 01/26/10 11:46 AM
Via David H Stevens (United States Dept. of HUD):

Via David H Stevens (United States Dept. of HUD):
I wanted to take a moment to make sure you are familiar with events surrounding a sweeping set of policy changes for FHA announced earlier this week. The announcement details the changes that Secretary Donovan promised to deliver by the end of January when he testified before Congress last month.
 
The new policies are designed to strengthen the FHA's capital reserves so we can continue to fulfill our mission of serving underserved communities.  In addition, we were determined that these changes should … (2 comments)

hud: IF you care about your business SEND this to YOUR representative in CONGRESS! - 01/05/10 02:08 PM
I have forwarded this poem by an unknown author however it is circulating around the industry. It is an eloquent statement of fact surrounding the mess HUD and our government continues to make of our industry.
PLEASE SEND THIS TO YOUR REPRESENTATIVE!
T'was the week before New YearsWhen all through the lands,LO's and Closers were wringing their hands.RESPA Changes are coming,They all started to worry,We'd better get trained, and trained in a hurry!We all kept on hopingThere would be a delay.But HUD said, "No Way," it's all here to stay."We love our new HUDAnd our new GFE,Don't fret, don't worry, it's … (0 comments)

hud: HUD's Shaun Donovan an innovator? I say Fire Donovan NOW! - 12/10/09 01:33 PM
The New York Times says the following about Shaun Donovan Housing Urban Development (HUD) Secretary....
"He developed a national reputation as an innovator along the way, holding to a middle ground between free-market forces that opposed government controls and liberal groups that believed only government and nonprofits could be counted on to provide housing for the working class."
"Mr. Donovan has experience in all facets of the affordable housing market, having worked in both the nonprofit and private sectors and in academia as a scholar of housing policy. He has even worked as an architect in New York and Italy."
Really?  So far … (3 comments)

hud: "Look at the mess you got us into now Stanley" HUD on HOLD? - 11/17/09 02:56 PM
Not surprising to me HUD is going to put a 120 day 'enforcement' delay for the new Good Faith Estimate and HUD-1 roll out scheduled for Jan. 01, 2010.  What a mess. What a disaster. This photo depicts perfectly how our government (the big guy - Oliver Hardy) and HUD (the skinny -Stan Laurel) are managing this little thing we call a financial calamity. Recovery my (Fill in blank).
HUD always has a scandal each administration costing millions or billions (depending upon how many years you include). Inexplicably they eliminated the down payment assistance program thinking a down payment would solve this economic calamity. BIG thinking.
So … (0 comments)

hud: OOPS, HUD did it again.... - 10/22/09 12:06 PM
Stealing and changing the title a bit from the Britney Spears "hit" song whenever it came out was inspired by HUD's latest announcement that it is considering "Civil Money Penalties" against the FHA underwriter if HUD FEELS (I emphasize the word FEELS) the underwriter didn't underwrite the loan properly. HUH?
I wonder if Britney Spears is now in charge of HUD. Nope it is Housing Secretary Shaun Donovan the man on an island along with the rest of Washington DC. Does anybody really believe our government and its agencies know anything?
 Timothy Geitner Treasury Secretary recently stated "regulatory overhaul without limiting consumer choice … (2 comments)

hud: Ignorance is in the forecast - HR Bill 3706 Rep Garrett NJ - 10/06/09 06:38 PM
The forecast tonight is more ignorance (just like rain) falling upon us from DC. The long-term forecast - the real estate market will continue to take a beating because congress just doesn't get it. 
I'm back and here to rant. The newest self-proclaimed hero coming to the rescue on behalf of the consumer is Representative Garrett of New Jersey. He follows a long line of stupid from the east coast featuring the unflappable Barney Frank (MA) and Mr. Cuomo the Attorney General from New York.  The hits keep rolling in with no meaningful results but the banks (all three of them) will continue … (0 comments)

hud: Do you want to stop the bleeding or not? A call to action. - 01/31/09 01:55 PM
As the "stupid" continues to fall out of the "politicals" mouths on Capitol Hill talking down to the masses pretending to have special enlightenment on the problems they helped create the rest of us on the front lines for over two decades actually understand the problem and saw first hand what happened, why it happened, what needs to be done and alas we are never asked.
The "food for thought" fed to our mis-guided lazy representation (on both sides of the isle) comes from the status quo lobby that got us here. I hope you do not think this "stimulus" package is the real deal - … (0 comments)

 

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