Hi Everyone,

Here’s the follow up Q&As from our class last week:

Here’s the Neighborhood Watch website where you can see the WA State (well, actually all 50 states) list of the lenders and brokers with the highest default rates on FHA loans.

More concerning news on FHA’s capitalization problems. We should all be prepared for, and be an advocate for higher downpayment requirements, higher MIPs, and tighter UW guidelines next year.  There’s no good reason for taxpayers to have to bailout this trainwreck.  The MIP fund has always been self-supporting. 

There was a conversation going on at one of the tables regarding how the subprime meltdown is really “nobody’s fault.” I mentioned I wrote an article on this theme in 2007. Here it is: “What the Space Shuttle Challenger Disaster Can Teach us About the Current Mortgage Lending Crisis.”

Here’s the Credit Suisse graph showing the coming recasts of Pay Option ARM loans through 2012.

Here’s the story about HUD possibly adding sexual orientation as one of the protected classes. They’ll start with renters and move on from there.

New favorite TV show: Lie To Me.

You Tube Channel for JSchlicke showing a recent foreclosure auction taking place at Factoria.

Rural Development (USDA) Maps for WA State.

The article I wrote on Paramount Equity’s Consent Order. Is a similar business decision like this ethically justifiable?

Regarding the appeal of HVCC, I found HR-3044 which just calls for an 18 month moratorium. It’s in committee. I wouldn’t hold my breath.

I think that’s it! Thank you so much for coming to class and remember to renew your license!