MBA HQ Fiasco Reveals Double Standard
Now this is a good story. Mortgage bankers have not been terribly sympathetic these past few years to the plight of struggling homeowners. Those who have tried to do the right thing, and sell their homes in short sales instead of simply walking away, have too often found themselves caught in a web of corporate red tape. And for frustrated homeowners who opt to walk away, well let's just say there's been absolutely no mercy at all. "What about the message they will send to their family and their kids and their friends?" John Courson, chief executive of the Mortgage Bankers Association, recently asked. Well now we can ask the same question about the Mortgage Bankers Association's own, spectacularly foolish real estate activities.