Thursday, March 10, 2011

This week's DC mortgage weirdness

S'morning the SF Chron's Kathleen Pender had a bigger-picture analysis on the ironic contrast in national mortgage news this week: on one hand, the settlement negotiations in which state and federal regulators are trying to force big lenders to spare mortgage debtors -- and, on the other hand, the House Republicans' four bills to shut down debtor relief programs.

It is, yes, deeply weird to see two crowds of professional officials, all claiming to represent The People, working so fiercely at cross purposes. And this business with House Republicans deciding the function of government is to take help away from people -- it's disorienting and wrong, like those episodes in "Futurama" where Santa Claus has turned into a heavily armed psychotic robot who thinks everybody is Naughty, not Nice.

As Pender notes, the four anti-relief bills are:

- HR 830 against the Federal Housing Administration Short Refinance program.
- HR 836 against the Emergency Homeowners Loan Program.
- HR 861 against the Neighborhood Stabilization Program.
- HR 839 against HAMP.

Links here are to the THOMAS legislation tracking pages for your future convenience and mine.

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