obama: Monday's Cup of Coffee - Weekend News Wrap Up - 04/18/11 03:03 AM
This HousingWire article highlights the news that took place over the weekend. Leading the way is the government needing to raise the debt ceiling, an increase in the FHA mortgae insurance premium and new legislation that will force lenders to reduce principal on delinquent mortgages.

obama: House Votes to End Hamp - 03/30/11 01:53 AM
What the headline doesn't tell you is that the Senate is unlikely to pass this bill and it will be vetoed by Obama regardless. Instead of wasting all this time on a bill that will go nowhere I wish they would just sit down and fix this thing. The Obama administartion is in denial and still feel that this is a good program even though only $1.2 billion of $30 billion has been used over halfway through the program.
This issue is obviously being used as for political leverage. The Dems want to point out how badly the Obama administaration is performing … (1 comments)

obama: HUD Targeted for More Than $1 Billion in Cuts - 02/15/11 03:02 AM
This article outlines a few of the proposed budget cuts to HUD. In particular it mentions cuts to the Development Block Grant program and Neighbor Works.
The Development Block Grant program cuts are minor and I, for one, am glad to see that. In our small community of Maricopa n, these grants are vital to our local non profits and the money has been put to good use.
The Neighbor Works program, which provides housing counseling, is proposed to be cut by more then half. As far as I am concerned, this is a good move and it can be eliminated … (2 comments)

obama: GSE Reforms to Squeeze Out Small Banks?? - 02/14/11 02:31 AM
I found this article pretty interesting as it came from a point of view I hadn't thought of. Obviously GSE reform has many ramifications no matter how it is accomplished but I hadn't thought about the fact that it might do exactly what the author mentions: shift all lending to a few mega-lenders with very few options.
Being very wary of the government, Wall Street and lenders in general, it makes me wonder if there is an alterior motive in all this.

obama: Monday's Cup Of Coffee - Weekend News 14FEB - 02/13/11 11:36 PM
This week's post by Housing Wire that reviews the weekend news. As expected, the mortgage finance industry is beginning to weigh in on the Obama plan to phase out Fannie and Freddie. As I had posted earlier, Amherst Securties Group commented that there are not enough details behind the three options that were proposed to make much of a difference. Also, another four banks closed.

obama: First Salvos Fired at the Obama Overhaul Plan - 02/12/11 02:01 AM
A good article that outlines how everyone is lining up in response to the Obama plan to phase out Fannie and Freddie. The major concern seems to be that it will affect the affordability of home ownership. Given the housing mess and everthing that caused it, is that such a bad thing?
First of all, if the cost of home ownership goes up, it might eliminate some of the people that maybe shouldn't be considering buying a home in the first place. Sorry to sound heartless but too many people have gotten into trouble "pushing the envelope" for a home mortagage. I'm all … (2 comments)

obama: The Obama Plan for Freddie and Fannie is Unvieled???? - 02/11/11 05:43 AM
And we waited all this time for what? I need to read more about this but this article outlines the "plan" set forth by the Obama administration for the GSEs. There administration said that they need to withdraw government oversight of the housing market but need to do it slowly and offered three options and will let lawmakers decide.
I may not be the sharpest knife in the drawer but it appears they do not want to take a stance on this issue. Why it took so long for this "decision" is beyond me asI could have come up with these … (2 comments)

obama: Mixed Reviews on Obama's GSE Plan - 02/11/11 02:26 AM
I just wanted to post the latest update to the Fannie and Freddie scenario. I won't begin to comment on this article as there are just too many issues invloved that I don't begin to understand. The problem is, the government doesn't either. There will be a lot of "pushing and pulling" with the lenders and they ahve already begun to exert their influence. We;ll just have to see how this all shakes out and, hopefully, the government won't screw it up too badly!!

Bill "Waz" Wasowicz (Wizards of Waz Real Estate)

Bill "Waz" Wasowicz

Maricopa, AZ

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