Decisions on policy like any decision can have intended and un-intended consequences. It’s not possible to understand or anticipate all un-intended consequences. This is why we have public forums to vett ideas, concepts and decisions that have far reaching effects.
On Monday, we understand that the Treasury will make a decision on Real Estate Owned (REO) assets controlled by HUD, FDIC, Fannie Mae and Freddie Mac. The power to liquidate these properties may change. It’s our understanding that they will (the gatekeepers) be able to auction properties. The exact process is not yet known, at this point. There are still many questions that are unanswered but that will change on Monday the 3rd of August when new information will be available. [Read more…]