Today I begin my weekly Thursday series rounding out the weeks major mortgage related events and stories from around the mortgage blog-o-sphere and beyond. This is where I try to make reading about mortgages more exciting than watching two female teachers fight in front of their students! So, let’s begin…

Polls and People

A recent poll by Rasmussen finds that 53% of Americans are opposed to a Federal bailout for homeowners. Last December Rasmussen had found that 54% of Americans blamed the individual borrowers for the mortgage crisis.

With those numbers on my mind I found it hard to watch a video on Mortgage Ciceron’s blog of a woman who lost her home because she was talked into one of those exploding ARM’s. Truly a sad sad story and a very heart wrenching vlog.

Back to the Future… Lisa Simpson’s Nightmare

Remember the Enron story and how Arther Anderson disappeared because of it? Well in an eerily similar story we have an investigator accusing KPMG of allowing, New Century Financial (subprime darling until 2006), to report a profit, rather than a loss. Will they never learn? Reminds me of Lisa Simpson’s confusion when Homer became a Springfield police officer “… if you’re the police, who’s going to police the police?” (Homer the Vigilante)

Down But Not Out

Of course the big news maker this week was the home price index showing record declines, Alex Stenback argues there is no such thing as a national real estate market. He breaks down the media headlines with great clarity. In the mean time, CNN Money has a great article on why now could be the best time to buy reale state.

Campaign 2008 Watch: Who wants to fix what, and how!

All three Presidential candidates had something to say this week about the mortgage industry and financial markets. McCain seeks common sense solutions with minimal politics and government involvement. Obama wants tighter regulation and blamed Bill Clinton among others for the mess we’re in. Hillary wants direct federal intervention.

I’d hate to close this post with a Hillary piece so let me tell you an engineer joke. To the optimist, the glass is half full. To the pessimist, the glass is half empty. To the engineer, the glass is twice as big as it needs to be.

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Tags: mortage blogs, news, roundup
Categories: Mortgage Roundup