Comments on: Obama Administration Won’t Release Mortgage Modification Figures; Sense on Cents Already Did

By: Larry Doyle

Larry Doyle — Mon, 16 Nov 2009 14:23:08 +0000

Tim,

Thanks for that link. Having just reviewed the site, it does provide a wealth of information on TRIAL modifications but NO info on the COMPLETED modifications. In fact, I would say the site tells the readers here very little new from what was already included in the TARP review embedded in my commentary.

I repeat my premise: why won’t the administration release the info? It’s fairly easy to answer. The statistics on the successfully completed mortgage modifications are an embarrassment.

America deserves to know that info. I am happy to provide it.

The administration needs to be held to account in the midst of these multi-billion dollar commitments, given that they are American taxpayer funds.

By: Tim Anderson

Tim Anderson — Mon, 16 Nov 2009 14:13:39 +0000

Larry – The Treasury has a site that produces a monthly score card on HAMP mod activity. It’s located @
http://www.makinghomeaffordable.gov/docs/MHA%20Public%20111009%20FINAL.PDF

By: Mike

Mike — Thu, 12 Nov 2009 20:49:18 +0000

Why is it so hard to complete the trial period?? and how much have we spent on this project?

By: fiscalliberal

fiscalliberal — Thu, 12 Nov 2009 12:13:44 +0000

While well intentioned, the loan modification program has not worked in part due to the complexity of the securitization system, no incentive for the servicers to modify and most of all borrowers that cannot meet normal requirements for a loan. To lie about your income is no longer accepted.

When it is all said and done, fraudulent borrowers, crooked underwriters, and complex securities (CDO squared) have left a mess that just has to be defaulted and cleaned out. Mark to model accounting tricks smooth out, but delay the recovery. Until the that is done, recovery will continue to be slow. I wonder if the smaller banks will start picking up real estate loans after this is all said and done. The shadow banking system might be unsustainable.

Could I suggest the power of your blog is the collective data gathering from a lay persons perspective that has a unique characteristic.

By: J6Pack

J6Pack — Wed, 11 Nov 2009 22:53:22 +0000

LD,

Thanks again for all your posts.

Check you blog numerous times/day.

Keep it up and keep posting the good stuff

- J6P

By: beth s

beth s — Wed, 11 Nov 2009 22:30:03 +0000

wsj… well we know where they stand, you’ll get filtered news with just about every US organized newspaper. Along w/ the TV newsmedia. I now wonder just how much info the Feds give out that is real or contrived/ skewed?
So who do we trust?…
Wasn’t there a TV show called Who Do We Trust?
Wonder why Main St has become so cynical.

Keep on diggin LD.