Posts Tagged ‘Mortgage Bankers Association’

The Daily Show and Mortgage Banker’s Association; Roy Oppenheim Offers Technical Insight

Thursday, October 14th, 2010

The foreclosure “walk of shame” happens to the best of us; even the Mortgage Banker’s Association (MBA). When Roy Oppenheim received a call from the producers of The Daily Show with Jon Stewart; he knew this was not the typical call from a distressed homeowner facing foreclosure. This was about a topic Oppenheim had shared on his blog months ago. The Daily Show news team was sniffing out a story of satire and realism, piecing together the irony of The Mortgage Banker’s Association’s Strategic Default.

Homeowners are walking away from mortgages even when they can afford to pay, and so is the MBA. Yes, the MBA walked away from its headquarters, a $79 million building they purchased three years ago in Washington D.C.

Oppenheim discussed in several South Florida Law Blog posts why he thinks MBA President and CEO John Courson is clueless when it comes to morals and ethics. He was happy to shed insight to the Daily Show producers on the irony of MBA’s own strategic default considering Courson’s countless media quotes questioning the homeowner’s moral obligation to pay the mortgage.

An excerpt from The New York Times:

John Courson, president and C.E.O. of the Mortgage Bankers Association, recently told The Wall Street Journal that homeowners who default on their mortgages should think about the “message” they will send to “their family and their kids and their friends.”

For more foreclosure news, stay connected with Oppenheim Law on Twitter @oplaw, Facebook and YouTube.

Tags: , , , , , , , , , , , , ,
Posted in Bank Fraud, Florida foreclosures, Florida Law News, Florida real estate, Florida short sales, Mortgage Bankers Association, Roy Oppenheim, social media, The Daily Show | 1 Comment »

What to Tell Our Kids About Foreclosure: From the Heart

Saturday, February 6th, 2010

By Ellen Pilelsky

Many of you have been reading Attorney Roy Oppenheim’s “From the Trenches” series over the past year as he details his experiences as Florida foreclosure defense attorney. This post is the first for Oppenheim Law’s senior partner, Ellen Pilelsky, as she discusses Florida real estate and foreclosure, sharing her perspective “From the Heart.”

From the HeartThe Mortgage Bankers Association wants to know what folks in foreclosure should tell their kids.

I usually remain behind the blogging scenes, but this is my first attempt to share my views as a woman, mother and foreclosure defense attorney about how the world has changed and why we need to understand how to cope.

Last month John Courson, President of the Mortgage Bankers Association, said he had no idea what individuals were going to tell their children about why they stopped paying their mortgage. He suggested people who are in foreclosure are somehow immoral.

My response is simple:

  1. Never be judgmental towards others, for then you too will be judged: and
  2. Never, ever, throw stones when you yourself live in glass house.

The MBA arguably represents the very folks who brought us the current economic crisis. Perhaps worse than that, Mr. Courson has a less than stellar record himself of “doing the right thing,” as was well articulated by some of the subscribers to Oppenheim Law’s South Florida Law Blog.

The reality is we need to help our children understand that:

Wherever you move, or wherever we as a family move, we will always have a home. A house is just made of bricks and lumber, but the things that make it a home are the family and the memories we create together wherever we live.

(more…)

Tags: , , , , , , ,
Posted in Ellen Pilelsky, Florida foreclosures, From the Heart, Mortgage Bankers Association | 3 Comments »

Oppenheim Law on South Florida Mortgage Morals and Ethics: To Strategically Walk or Not?

Monday, January 11th, 2010

NYT Magazine Writer Roger Lowenstein hits it on the head when he takes Mortgage Bankers to task, Plus why I believe MBA President John Courson is WRONG and CLUELESS

Roger Lowenstein, an extremely well respected financial journalist took the trade association for mortgage bankers (the MBA) to task in Sunday’s New York Times Magazine for calling homeowners “immoral” who strategically walk away from their mortgage obligations. Lowenstein points out that Wall Street walks away from their obligations all the time and effectively asks how they dare call the kettle black.

New York Times Magazine: Walk Away from Your Mortgage

For more than a year now through the South Florida Law Blog, monthly Florida foreclosure defense workshops and social media outlets like Facebook and Twitter @OPLaw, Oppenheim Law continues to help homeowners and other real estate holders such as investors and second homeowners. A constant and key consideration is determining the sense of continuing to pay a mortgage that is upside down and may remain that way for many years to come.

Oppenheim Law believes foreclosure defense strategies are not a moral issue, but an issue of what is economically rational. However, John Courson, President of the Mortgage Bankers Association, decided this past week to enter into the discussion when he was quoted in the WSJ as saying: “Homeowners should think about the ‘message” they will send to their families and their kids and their friends.” He was somehow trying to convince all of us that there is still a social stigma to walking away.

JOHN COURSON READ MY WORDS: YOU ARE SO WRONG…. IN FACT YOU DON’T EVEN HAVE A CLUE!

(more…)

Tags: , , , , , , ,
Posted in Florida foreclosures, Florida real estate, Foreclosure Defense, Mortgage Bankers Association, Roy Oppenheim | 5 Comments »

PHP/MySQL Components, WordPress Plugins, and Technology Opinions at TravisWeston.com

Bad Behavior has blocked 4834 access attempts in the last 7 days.