Articles Tagged with ''energy''

America's lost art of freedom to compete

The value of focusing on precision is a lost art in American society, which is why the mortgage crisis — and to a greater extent the corporate and political debacles of today — are symptoms of a new-age philosophy that is more focused on delivery than on process, value or work ethic. In other words, our government and political leaders have checked out on their true responsibilities so to speak. Today's leaders must have read Oprah's favorite book, "The Secret," which claims a person creates happiness by just thinking happy thoughts or happy bubbles as it where.
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The Obama administration’s regulatory capture

As an economist, I know one simple truth: every legislative and regulatory decision has implications for jobs and output. Hence, policies like mandating mortgage modifications and forgoing access to energy resources in the Outer Continental Shelf and the Gulf of Mexico have inextricable economic consequences.
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The courage to serve borrowers

I was impressed with the turnout and the energy level at last week’s Mortgage Bankers Association's national mortgage loan servicing conference. I was told by vendors there that demonstration suites were full and booth traffic was better than average. Some even told me that servicers were actually buying this year instead of just looking. Desperation can have a positive effect on people, in some cases.
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Why Basel III is not enough

Now that summer is over and I have recovered from the shock of Dodd-Frank, we have Basel III on the horizon. Basel III moves in some predictable directions, but -- focusing exclusively on capital – still falls short of meaningful reform that addresses the propensity for future crises.
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In This Corner: LoanSifter President Bruce Backer

Bruce Backer is the president of LoanSifter, Inc., which provides tools for mortgage bankers, loan officers and secondary departments to price, market and manage loans. Bruce has held leadership positions with a number of technology-based companies, beginning with IBM and Travelers Companies. Prior to joining LoanSifter, he was the founder and president of C3 Corporation, an automation technology provider, and president and co-owner of EMS Sales and Engineering, an energy solutions provider.
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A $40,000 Mortgage Thank-You to Customer

Corpus Christi resident Robert Sanchez found out his energy provider was doing more than providing him with power after opening his last bill. The utility company, CPL Retail Energy, also decided to pick up a year’s worth of Sanchez' mortgage payments, up to $40,000 in total.
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Home Energy Audits Optional in Cap-and-Trade Bill

A section in HR 2454, the American Clean Energy and Security Act, which narrowly passed a US House of Representatives vote Friday, falls short of mandating an energy audit on homes, according to the House Committee on Energy and Commerce. Section 204 of the cap-and-trade bill establishes a building energy performance labeling program for homes and commercial property. The section would provide potential buyers and investors in those properties a label explaining that property’s energy efficiency.
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Monday Morning Cup of Coffee

A look at the stories on HousingWire’s weekend desk… with more coverage to come on bigger issues. Five failed banks on Friday pushed the total for 2009 to 45. The closures are estimated to cost a combined $264.2m to the Federal Deposit Insurance Corp.'s insurance fund. The Georgia Department of Banking and Finance closed Community Bank of West Georgia and named as receiver the FDIC. The bank had $199.4m in assets and $182.5m in deposits. Beyond an estimated $1.1m of deposits in excess of insurance limits, the FDIC expects the bank will cost the insurance fund $85m.
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Consumer Spending Down in March

Falling home prices and rising unemployment claims continued to put downward pressure on the Deloitte Consumer Spending Index in March. The index, compiled by Deloitte LLP "as an indicator of future consumer spending," found that rising energy prices countered much of the recent growth in real wages and put many consumers on spending sidelines last month. The drop in consumer spending may indicate hesitance from prospective home buyers to seek purchase money from mortgage originators while home prices continue to fall.
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