Self-billed as "the largest conference in default servicing" -- a distinction we think goes to the annual MBA Servicing event. Still a large event, historically comprised primarily of REO real estate specialists.
I hope you all got out and enjoyed some fireworks this past weekend. My family went down into our little historic town, not all that far north of where George Washington and his men wintered the year we almost lost it all, and sat with friends and neighbors on the side of the hill to watch the show. I thought about mentioning to my kids that these fireworks were real to the soldiers and civilians who fought during the Revolutionary War, and in every war since then; that they represent more than a good time with friends and family, but I didn't.
A cursory glance at any history book more than a decade old (back when we used to compile historical information into books instead of wikis that can be easily updated as we go along) will reveal that great leaders always seem to emerge during highly volatile times. Few are the truly great who inherited a peaceful land in a time of plenty — and still made it into the history books. There may have been some, but they are pretty much all covered together in a sentence that usually goes something like, "and then there was a 1,000 years of peace and prosperity."
Sucks to be those guys.
Bond insurer ACA Financial Guaranty filed suit Thursday against Goldman Sachs.
The suit alleges fraud and seeks $30 million in compensatory and $90 million in punitive damages stemming from the role the investment bank played in the marketing of the synthetic collateralized debt obligation named ABACUS.
Goldman Sachs developed ABACUS and sold it to investors on behalf of its hedge fund client Paulson & Co. in 2007.
I caught an old movie over the long weekend. One of the cable channels (I don't know which one. It comes on after you hit the next channel button a couple hundred times in search of something to watch) was running the 1985 film "The Goonies." It took me back to my college days and surprised me with a critical connection to the mortgage lending business I'd never noticed before.
Eight years after we began recognizing women for their influential work in the expanding housing and mortgage finance ecosystem, a traditionally male-dominated field, our Women of Influence list is bigger and better than ever! This year, we honor 85 women who are making lasting achievements in each sector of the housing economy. Read on to learn more about these accomplished women and the strides they are making in their industry segments.
The financial world at large is experimenting with changing its workforce culture in ways not fathomable 10 years ago. For example, in 2011, the dress code for female workers at UBS came to light with unflattering results. In it, the Swiss bank instructed female employees on not just how to dress and how to smell, but also preached the importance for ladies to apply lotion after taking showers. Fast forward to today and fellow Swiss bank, Credit Suisse has now created an official role to boost equal opportunities and create a fair treatment environment. Has the American mortgage industry made similar progress?
The conversation around student loan debt and its economic impact on Millennials, those born from 1980 to 1998, has some questioning whether the future of the American Dream is in jeopardy. The nation’s student loan debt has soared to $1.4 trillion, surpassing credit cards in becoming the largest source of personal debt outside a mortgage.