Relevant:
- John Courson Sends a Message to His Friends and Family: Do As I Say, Not As I Pay.
- mortgage bankers association sells headquarters at huge loss
- Mortgage Woes for the Mortgage Bankers Association
- MBA President Courson Resigns. Ex-FHA Commish Gets Job
- More Leadership trouble at Mortgage Bankers Assoc.
2010-02-07 — ritholtz.com
CoStar Group buys downtown Washington building for $41.3 million, far below the $79 million the trade group said it paid in 2007.
...
In an interview late last year, Mr. Courson said he believed mortgage borrowers should keep paying their loans even if that no longer seemed to be in their economic interest. He said paying off a mortgage isn't only a matter of personal interest. Defaults hurt neighborhoods by lowering property values, Mr. Courson said. "What about the message they will send to their family and their kids and their friends?" he asked.
...
The MBA will move out of the building and rent elsewhere in Washington, the spokeswoman said. She added that a new space hadn't yet been found.
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Comments:
mortgagemess at 22:59 2010-02-07 said:
What is sad is that as a corporation they can walk away with little recourse..the same cannot be said for the average Joe.. Permalinktvsterling at 23:23 2010-02-07 said:
It takes a swine to show you where the truffles are. This same organization is even now proclaiming from the roof tops the party line about your 'Moral Obligation' to pay your mortgage. What congress should do is pass a law making all states 'Non Recourse' states for the duration of this emergency. That would do far more to get banks to be reasonable about re negotiating home loans than anything that has been done so far. The banksters goal is to have it all their way; not surprising since they bought & paid for the privilege. Permalinkadd a comment | go to forum thread
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