September 2009 - Community Commentary

One simple step everyone can take to make their email efforts more compatible with their social media efforts is to link all of your emails to your social networking profiles or blogs.

Free markets function fine...when all parties understand their risks. Changes need to be made to the GSE's but not in a way that contracts, rather than expands, homeownership. Of the eleven Principles offered by the MBA only four focus on how the secondary market can improve the standards and transparency of mortgage backed assets. The rest focus on the role of the Government.

Most appraisers have an independent spirit and the idea of an appraiser union is not very appealing to them. I suppose that the same applies to Mortgage Brokers. It certainly feels like both groups have been under attack recently and at least some appraisers are becoming more receptive to the idea of a union. They are attempting to organize as the American Guild of Appraisers, part of the Office & Professional Employee International. Mortgage brokers can be represented by the same umbrella organization.

The question is one of trust. For nine months our trade group has been lobbying Congress and the GSE's to use such a work force but the question is always asked; how can we trust you guys, the mortgage industry that sold all these bad mortgage products and the modification industry that is just out there to scam the trouble homeowner?