When the Treasury released the latest numbers on federal foreclosure-prevention efforts Wednesday, regulators tried to put the best face on the report. But in any light, that face looked ugly - and speakers at a Congressional hearing immediately used it to advocate tougher government action, with potentially sweeping effects on mortgage lenders, servicers and investors.
In yet another contentious Congressional hearing on the federal government's foreclosure-prevention programs, House Financial Services Committee Chairman Barney Frank on Wednesday reissued his threat to introduce mortgage cramdown legislation if the lending industry didn't do a better job of policing itself.
Local Market Monitor announced the release of its third quarter Home Price Forecast on Wednesday, which predicts local market behavior for over 300 U.S. housing markets. The forecast identifies stable markets with opportunities for growth as well as markets where home prices continue to drop.
Predictions of a new round of commercial real estate defaults - and recent actions by the Fed against two Midwestern banks heavily invested in CRE - have analysts worried that the government could be on the verge of an overreach.
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