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Well I think it's still -- -- these guys trying to win the White House existing home sales -- -- -- -- -- in December.
A decent -- -- after dismal year if housing doesn't turn around the economy banks will likely keep struggling and that.
Who will be a big role in a big issue in the next election Sheila -- head of the Federal Deposit Insurance Corp.
during the housing grass is a central figure in the last presidential vote I've always said.
Regardless of Republican Democrats that universally respected one of the few adults in the proverbial room.
Children are good to have you thank you very much yet.
You know -- -- I always try to tabs on Wall Street talking about that what look like glimmers of hope for housing industry things are stabilizing -- I think these days as I was like getting worse -- armed -- what what -- you -- I think it's -- well delinquencies have been slowing have for several quarters now so that's goes to the visited the about it -- Troubled loans or loans going into foreclosure that is what's going in the pipeline is slowing but you still on the big back up in the pipeline itself.
And still have a lot of delinquent mortgages out there so I think we have two issues -- -- -- deal with appointment mortgages and basically have two options you can try to restructure them and if it makes economic sense or -- -- repossess the property and and get back into the market so that.
Isn't it working I have some sort of name do observers are working on the net and on the does that surprise surprise that we get all these agencies involved I think -- -- -- big.
Get everyone on the same page.
You know I don't want wanna sound cynical here but I'm cynical here you know and and I got -- didn't -- done that maybe not to the degree -- president wants to do this.
But more than one students -- size forget it.
Perhaps well I think it's always helpful to manage expectations.
And I think I don't know what's gonna be announced tier I think.
If we can help but streamline the servicing process keep more folks in their homes -- that makes economic sense to do.
But doesn't it right now -- I mean I know I don't know how does it add another six months ago about some mental elements so I'm just I don't think that is straight out.
It in May or may not I don't know what's gonna be in the in the actual settlement if it provides some clarity on the litigation situation litigation can really drag this out so -- on on that side of that.
This simplifies servicing and helps provide clarity about litigation providing some relief in return for.
Doing more principal writedowns whatever it is that there -- They're asking for that that might be some that might have some -- -- might actually speed things up -- so slowing down what do you.
It is something that you I know a lot of these mortgages most in -- her soul and that is secondary tertiary market -- but what if you let everyone in this country.
Whether they were.
Underwater or not whether -- met that 77 about their loan to value ratio or not.
Take advantage of these low interest rates the disadvantaged for the lender would be you're just doing repackage and loan.
Indeed deed the principal isn't isn't being adjusted anyway you're just letting people take an -- low rates.
-- -- someone of that one and that you know obviously could be hit by this but the advantage is the advantages.
No there's no federal monies involved here sir it's just a -- to just.
Refinance here and and protect.
Do you know lenders.
That might otherwise be looking -- defaulted loans.
Ivan Ivan supporting that idea since Glenn Hubbard at first came out with it in late 2008.
And I think it is says some -- incrementally being.
Did this couple points I support the idea they'd -- two things it really want help was clear the market over by some stimulus sum payment relief.
For underwater borrowers should be able to defense and lower interest rates in terms of clearing the market is -- not -- that that is really targeted it as stimulus and.
But that that's the -- -- it right that's the beauty of everyday that discount it's not just about digging people out but every -- that's half of mortgage -- -- -- -- in -- -- what exactly right and I think I know I voice supported it.
Now a lot of -- mortgage backed securities it will take to reduce the debt prepayments are now on by the status of the GSE is so there is some hit to the government.
Purse with that.
That said net net I think at this absolutely worth doing and I have to again as I've just been supporting us -- -- first came out proposal only 2000 name.
Europe it was my idea but I knew I was wondering if you look at it just -- and I didn't realize number and I want.
Doing what they go like to thank you very much of -- -- -- happen I didn't hear thank you can you be well you can Sheila Bair for the very instrumental role in getting our country right out of the fire.
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