{"id":191133,"date":"2009-09-21T20:44:00","date_gmt":"2009-09-22T01:44:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/09\/21\/remember-when-i-said-first-comes-the-denial\/"},"modified":"2009-09-21T20:44:00","modified_gmt":"2009-09-22T01:44:00","slug":"remember-when-i-said-first-comes-the-denial","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/09\/21\/remember-when-i-said-first-comes-the-denial\/","title":{"rendered":"Remember When I Said &#8220;First Comes the Denial&#8221;?"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/img16.imageshack.us\/img16\/9656\/gr20090918008036254393.gif\" style=\"margin: 0px 0px 10px 10px; float: right; cursor: pointer;\" \/><a href=\"http:\/\/40yrs.blogspot.com\/2009\/09\/first-comes-denial.html\">Here<\/a>, when I noted that the FHA was flat out denying that increased write-downs on loans would require a bailout?<\/p>\n<p>My response was:<\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>Next should come a statement of health, then a statement of robust health (or some synonym), and then comes the bailout.<\/p><\/blockquote>\n<p>Well, here we are, and the FHA is <a href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2009\/09\/17\/AR2009091704594.html\">admitting that it will fall below the cash reserves required by legislation<\/a>, but they are denying that it will require that they increase the fees that they charge on the loans, or that they get a bailout.<\/p>\n<p>Instead they are planning to announce, &#8220;Several measures that should help the reserves rebound quickly.&#8221;<\/p>\n<p>Yeah&#8230;.Right, like that will work, though their decision to <a href=\"http:\/\/www.dsnews.com\/articles\/fha-confirms-its-low-reserves-tightens-standards-to-include-hvcc-2009-09-21\">require future property valuations conform with the Home Valuation Code of Conduct<\/a> (HVCC), will go a long way toward fixing what continues to be a broken system where realtors whipsaw the appraisers, as the FHA is pretty close to the only game in town right now.<\/p>\n<p>H\/t <a href=\"http:\/\/www.calculatedriskblog.com\/2009\/09\/wapo-fha-cash-reserves-will-drop-below.html\">Calculated Risk<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here, when I noted that the FHA was flat out denying that increased write-downs on loans would require a bailout? My response was: Next should come a statement of health, then a statement of robust health (or some synonym), and then comes the bailout. Well, here we are, and the FHA is admitting that it &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1010,1004,1009,1088,985],"tags":[],"class_list":["post-191133","post","type-post","status-publish","format-standard","hentry","category-bureaucracy","category-finance","category-government","category-real-estate","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191133"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=191133"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191133\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=191133"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=191133"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=191133"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}