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The latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey , released on Monday, has a pair of findings that should be distressing to lenders holding both foreclosed real estate (REO) and distressed mortgages. The survey data, gleaned from regular email surveys of 2,500 active real estate agents and brokers, found that, although their reasons are different, first time homebuyers and investors are both losing interest in the distressed real estate market. First-time homebuyers have sharply...

A new Fannie Mae website for borrowers provides anonymous and non-judgmental assistance for borrowers who are in difficulty with their mortgages. The interactive site guides borrowers through options while encouraging them to contact their lenders. ...

Well there certainly are a lot of opinions in the news media out there concerning the economy, lenders, recession, etc...

Let's just apply some common sense for the moment.

Consumer spending drives the economy. But what drives consumer spending? Lot's of things, but here are my thoughts. In the last 6 years, we've had rapidly rising home values. Any of you reading this that have bought or owned homes from 2001-2006 have yourselves felt the sense of security that came from knowing you had appreciating real estate to "back you up."

To compound this confidence in real estate appreciation, the last 6 years have held unprecedented recklessness in spending. Spending is good, but reckless spending is bad...

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A popular theme in the responses we have received to our request for feedback from the foreclosure front has been the confusion, delays, and inflexibility on the part of mortgage servicers in handling "short sales."

Nearly everyone remarked on the perceived inflexibility of lenders on price and the amount of time, paperwork, and aggravation involved in getting a short sale approved - or even rejected.

A reader and Realtor from Utah commented on both aspects. Saying that...

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