TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/81276
FINAL THOUGHTS "It's good to start to see some convergence of expectations among economists, as it lends further support to the claim that a bottom is real." STAN HUMPHRIES, Zillow's chief economist, weighing in on the website's recent report indicating that 2013 would mark the "bottom" for home pricing in the U.S. Final Thoughts Economists created buzz by getting to the "bottom" of the country's housing market, while executive departures made headlines at home and abroad. "This is an ongoing investigation, and the people of the Tidewater region and in communities across the nation should know that . . . we stand committed to protecting the American people from all fraud related to TARP, whether it happens on Wall Street or Granby Street." CHRISTY ROMERO, Special Inspector General, on the SIGTARP's continuing legal battle against Virginia's Bank of the Commonwealth "Frankly, at the end of the day, stepping away right now, when so much progress is being made and so much [is] still left to be done, did not feel right." DAVID STEVENS, president and CEO of the Mortgage Bankers Association, on the reversal of his decision to join SunTrust Mortgage as the company's president "This lawsuit appears to dredge up old arguments that have already been discredited. We're going to keep our focus on the important work Congress created us to do: making markets work for consumers and responsible providers." JENNIFER HOWARD, spokeswoman for the Consumer Financial Protection Bureau, speaking to MReport regarding a lawsuit brought against the organization by State National Bank, the Competitive Enterprise Institute, and the 60-Plus Association "As chairman, I am the ultimate guardian of the bank's reputation. Accordingly, the buck stops with me, and I must acknowledge responsibility by standing aside." MARCUS AGIUS, former chairman of Barclays, on his July decision to step down in the wake of the company's lending rate scandal 80 | THE M REPORT "The recent upward trend in U.S. home prices is an encouraging signal that we may be seeing a bottoming of the housing down cycle." ANAND NALLATHAMBI, president and CEO of CoreLogic, commenting on the company's May HPI findings "Overzealous mortgage brokers and lenders were partly to blame for overvalued properties and inflated appraisal values, as they used the promise of future business in a booming market and higher appraisal prices to influence the ultimate valuation conclusions made by licensed and certified appraisers." DON KELLY, executive director of the Real Estate Valuation Advocacy Association, speaking to Congress on the role of appraisal management companies