Last week, HW managing director Richard Bitner made the media rounds to tout his new book, Confessions of a Subprime Lender. One of the appearances was on none other than Larry King Live, which means we now officially can say that Larry King has uttered the words "Housing Wire dot com."
Bitner managed to counter the more Pollyanna-ish takes from some of the other panelists, providing at least a dose of much-needed reality. Primary clip:
All panelists were also asked whether they were "optimistic" about housing in the near-term; see the below clip, starting around the 7:14 mark:
For those that follow these sort of things, Richard will be on The Daily Show with Jon Stewart discussing the housing mess on Monday, July 21. (Yes, really.)
And if you haven't bought his book yet, you should; it's one of the few written by someone that actually lived in the world of subprime lending. He owned Kellner Mortgage Investments -- number 44 on the Implode-o-Meter's list of now-defunct lenders.
Articles written by HousingWire Staff are non-bylined, and typically involve press release coverage and aggregation of coverage appearing elsewhere. So who put all these together? Our entire staff does!
The appraisal industry is in the midst of huge disruption as automated valuation models and hybrid appraisal products gain favor with regulators and investors. What does the future hold for appraisers and appraisal companies as they adjust to the new realities of automation?
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There has been a conscious and rapid shift to broaden the use of alternative valuation products for origination. Not every decision needs a $500, full-blown 1004 interior appraisal. And in some markets where appraisers are short in number, the turn times can stretch from days to weeks. What these new alternative — some would say disruptive — valuation products do is enable lenders and servicers to better match the product to the risk by harnessing big data and technology.