"I think it reinforces the current nature of mortgage finance policy, which is not to hold borrowers responsible. This isn’t just about Freddie, but it’s also about these borrowers sticking it to the taxpayer," Mark Calabria of the Cato Institute said.
Every American upset with the state of mortgage lending should read the Fox Business News article on strategic default in order to meet the "New Face of Foreclosure."
Strategic defaulters are underwater borrowers who intend to remedy their "upside-down situation" by simply walking away from their mortgages.
The Fox Business article paints a clear picture of a 67-year-old strategic defaulter who is walking away from a $166,000 loan.
Two different research teams look at the question from two different sides.
Let’s start with the dark side: the borrowers who ruthlessly put the house back to the servicer. Then we’ll move on to some researchers we don’t hear from often enough, who start by trying to quantify the bright side: the borrowers who won’t drive away from the house.
There is one distinct moment in recent memory when everything was going to be just fine. On an early morning, back in April 2013, the smallest of miracles happened on the economic front. This singular event would lead to calls that the developed world’s ability to do business, with all of its multitudinous complexities, was on the road to a recovery, maybe this time, finally, forever..
With this year's 15 for 15, we're profiling 15 companies who are well positioned to take on the challenges of 2015. The companies occupy different roles within the housing finance space — from lenders to servicers to technology providers — but they all share a vision for an outsized impact in the year ahead. Read More
Regulation and compliance — these words have been at the forefront of the mortgage industry in the past year or so. As we prepare to enter 2015, focusing on compliance and new and constantly changing regulations will remain the industry’s focus. Read More