Archive for the ‘Google’ tag
Even CNNMoney Gets it Wrong [Mortgage Industry Blog]
Chris Isidore, CNNMoney.com senior writer is confused. In his overheated article The Trillion Dollar Mortgage Time Bomb he claims that Fannie Mae and Freddie Mac “back” loans when in fact they serve as clearinghouses. “Backing” implies some sort of insurance or guarantee, like FHA’s. Additionally, he claims that conforming loans are characterized by “large down payments.” In fact, here is the entire ill-considered sentence: “Fannie and Freddie primarily back so-called conforming loans, those made to borrowers with good credit and large down payments.” Then he continues with the florid and frightened prose: “Among the nightmares lurking around the corner for the already battered housing and credit markets would be a meltdown at mortgage financing giants Fannie Mae and Freddie Mac.” God, I’m shaking in my shoes…
When a “senior writer” for a financial news site can’t even get it right it’s no wonder the general public is so confused… This kind of ignorant hysteria is what makes people so afraid of buying homes or borrowing money these days. We can only hope that cooler heads will eventually prevail. CNN should pick up writers like Dan “The Mortgage Reports” Green or Liz Freeman “The Daily Pick” if they don’t have anyone more knowledgeable than this guy on their staff.
[Housing On Fire] Blogoshere Hose-Down [Matrix]
Periodically, I like to round-up some of my favorite recent blog posts that are housing market/credit/economy related. And of course, a few extras…
Honesty may be the best policy, but it’s important to remember that apparently, by elimination, dishonesty is the second-best policy - George Carlin
- Minnesota’s new ghost towns [Calculated Risk]
- Poped! [The Crooked Timber]
- Housing Poll: Prices will Go Up, Go Down, or Remain Flat! [Truck and Barter]
- Fedspeak Highlights: Yellen on the Economic Chill [Real Time Economics]
- Dumped, Mortgage Style [Behind The Mortgage]
- Angry and Active [Curbed SF]
- WHAT THE HELL? [Property Grunt]
- Just How Much Your Credit Score Impacts Your Interest Rate [Rain City Guide]
- So many ways to dislike the home price stories [Square Feet]
- Couple sues Google over Street View pics of their house [Valleywag]
- Exactly Why You Should Bore Blog Readers With Real Estate Statistics [RE Tomato]
- Foreclosure Crisis: Now I know Why There Is One [Realty Check]
- Redfin Select: School-Marmish Innovator’s Dilemma? Becoming What They Hate? [3 Oceans]
- Time Management [Dilbert]