TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/431978
64 | Th e M Rep o RT Final ThoughTs Final Thoughts It's a time of great change in the housing industry. here are the issues that had its thought leaders talking this month. "You've been in office for nearly a year now, and you haven't helped a single family, not even one." Sen. elizabeth Warren (D-Massachusetts) chiding FHFA director Mel Watt for not offering principal reduction to American families. "I'm still not talking to my realtor that I bought a house with in 2006 and she lives like two blocks from me." Collingwood Group Chairman tiM rood describing how generation X was burned by the promise of investing in real estate. "And if the president and/ or Congress are able to provide more certainty, you will see more folks who now are in limbo deciding in the future to actually purchase a home." HUD Secretary Julian CaStro on the potential that immigration reform has to aid homeownership. "Modifying an interest rate of 4.25 percent down to 3 percent isn't going to provide sufficient payment relief to homeowners facing a financial hardship sufficient to threaten mortgage payment performance." Five Star Institute President and CEO ed delgado warning that the mortgage market may be becoming resistant to modification. "Today's proposal would give greater protections to mortgage borrowers." CFPB Director riChard Cordray announcing proposed rules that would require that servicers provide additional protections to borrowers who have already worked through the loss mitigation.