The twelve Federal Reserve Districts weighed in on how their individual markets are doing, painting different housing market conditions. Residential real estate activity was split between them, with sales of existing homes and construction of new homes generally expanding or holding steady in about half of the districts.
Eminent domain at its core is used to seize land to build public necessities; however, when the very company pushing for the product is dropping the ball, it is hard to jump on board the idea that eminent domain is a good idea.
Purveyors of the idea that eminent domain can be used to assist homeowners in distress are facing new allegations that their plan is to profit, not to help. A recent analysis in Richmond, CA is the latest to fuel the fire.
Sometimes offshoring sounds like a bad word. In reality, offshore mortgage servicing simply means using remote staff, usually to take advantage of lower labor and overhead costs and round-the-clock staffing availability. But legitimate questions remain. In the midst of increasing compliance pressures, is offshoring a sound strategy for mortgage servicers looking to stay competitive, or a fast track to dissatisfied customers and trouble with the CFPB?
Houses that have been rehabbed in the recovery project are now being sold as quickly as they are completed, and the profit on each house goes right into rehabbing the next one. In the past two years, the company has rehabbed and sold 58 homes, and has plans to do 200 more.
The fate of the Fannie and Freddie investors is not our concern. We are concerned about what happens to communities. And what is happening right now is that the future ability of working class families to obtain responsible home loans is in serious jeopardy.