A tipster (send in your tips here) sent in this video from the Daily Shop regarding the Mortgage Bankers Association and their own strategic default on the organizations headquarters. CoStar Group Inc., a provider of commercial real estate data, announced that it had agreed to buy the MBA’s 10-story headquarters building in Washington, D.C., for …
In one of the funniest and ultimate ironies it appears that the Mortgage Bankers Association, who tell consumers they need to keep paying your mortgage and not walk away from their homes, actually strategically defaulted on their own mortgage and walked away. Et tu, Brute.
So in the Wall Street Journal the Mortgage Bankers Association answered a op-ed about the need for bankruptcy mortgage modifications with the following response. In “Loan Modification Can Stop the Foreclosure Crisis” (op-ed, Jan. 30), Rep. John Conyers shortsightedly calls for allowing unelected bankruptcy judges to unilaterally modify mortgage contracts to help keep borrowers out …