Saturday, October 30, 2010

Dopey Donovan

Obama's Housing Secretary offers this nugget of wisdom in response to foreclosure-gate and the administration's opposition to a foreclosure moratorium:


Another unintended consequence of a blanket moratorium on foreclosure sales, even where problems haven't yet been found, is that it could cause servicers to take their eyes off the ball when it comes to helping at-risk homeowners stay in their homes well before their problems reach the crisis of a foreclosure.


Across the country, struggling homeowners are increasingly tripped up by mortgage lenders that press ahead with foreclosures regardless of any effort they make to provide borrowers with relief on unaffordable mortgages.

Which raises the questions of whether Shaun Donovan knows what is happening in the housing industry and whether he is even qualified to be Secretary of Housing and Urban Development. 

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