Shari Olefson's blog

Ok so now Hagel says he's gonna stop sexual assaults against women in the military by looking at credentials and requiring refresher training for recruiters, assault responders and advocates. Really? Are we dealing with the Boston bomber or the Colorado movie guy by talking to their college recruiters? Hello, how about punishing the the bad guys-whatever happened to deterring crime with CONSEQUENCES?

CNBC  Foreclosure Crisis Still Has Millions In Its Grip  http://www.cnbc.com/id/100722965/print/1/displaymode/1098/ Five years after the mortgage meltdown sparked a wave of home foreclosures, millions of Americans are still in housing "limbo," battling to save their homes despite government programs meant to help them.

If there's one thing industry insiders knew and everybody else has seen from the OCC and robosigner settlements,  it’s that, at best, regulators underestimated the complexity and man power associated with these problems (at worst they knew what banks and servicers were doing all along, only to later leverage these institutions as scapegoats).  Case in point, regulators estimated they would need only a handful of hours to review files believed to contain errors.  After months and almost $2 billion, they realized the reviews required five times the time and cost estimated.

Shari O speaks out with the National Association of Realtors on the Robo-Signer and OCC Settlements fraught with challenges  

 

It's too bad REITs seem to be being hijacked. Oftentimes crack downs impact legit uses. On another note one of the reasons investors couldn't modify struggling home loans was fear of compromising the tax structure (meaning modifying loans may have triggered taxes for investors). Be careful what you wish for!

New home construction numbers yesterday show big jump in multi family. Not so much so in single family residences.  When you consider this with the fact that funds such as Blackstone’s  Invitation homes are spending billions – literally like $3.5 billion for just this one alone so far – buying up single family homes to rent, it sort of makes you wonder how average folks will be impacted if more and more rent rather than own their homes.

Click here to see new home construction numbers.

The federal government could save tens of billions of dollars each year by trimming duplicative programs including catfish inspections by three separate agencies and 159 contracting organizations that provide foreign-language support for the Defense Department, according to a report from Congress’s auditing agency.

The Government Accountability Office found 162 examples of government duplication or other inefficiencies while analyzing programs in virtually all major federal departments and agencies over three years, according to a report the agency released Tuesday.

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