Developing Affordable Housing Ecosystems World Wide
By David A. Smith
Sitting here in LimboWaiting for the tide to turn.Yeah, now, sitting here in Limbo,So many things I’ve got to learn.Meanwhile, they’re putting up a resistance,But I know that my faith will lead me on.
– Jimmy Cliff
And then the harder they come, the harder they fall, one and all!
Whither the GSEs? A year [...]
By: David A. Smith
[Continued from yesterday's Part 1].
Yesterday’s post dismantled a slightly fear-mongering Wall Street Journal suggesting that FHA’s net worth would fall below the statutorily mandated 2%, and if so, that FHA would need a ‘bailout.’ In fact it does seem that FHA’s portfolio is under stress, with delinquencies up from 5.4% to 7.8%, [...]
You’ve got to try harder
In the aftermath of the subprime meltdown, fingers are being pointed every which way, among them at the appraisal community, which led to a systemic change brought about by new York’s aggressive Attorney General, Andrew Cuomo, who pressured the GSEs into an agreement about which [...]
[Continued from yesterday's Part 1.]
Yesterday we began our two-part blog post providing unsolicited advice to Freddie Mac’s board as they search for a successor to now-resigned chief executive David Moffett. As reported in last week’s Washington Post (red text) and Wall Street Journal (dark blue), the search will be difficult.
Going to the ends of [...]
Last week, to the market’s surprise, Freddie Mac CEO David Moffett resigned:
“Why did you resign?” “That – would be telling.”
As the Washington Post reported it (in red text; text from a contemporaneous Wall Street Journal article is in dark blue):
The government-appointed chief executive of Freddie Mac announced yesterday that he is stepping down just six [...]
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