Caroline Gerardo, C. G. Barbeau the Loan Lady nmls 324982 (Sun West Mortgage Corporation)

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Rainmaker
714,675
Brian L. Sirota, Esq.
Bristar Realty (Realtor/Attorney) - Orange, CA
For Solutions: (714) 501-7660

Jason E. Gordon  Absolutely agree with you!   David Stevens would be a superb choice.   Calabria grossly miscalculated projected forbearances and risked market chaos while most other federal regulators were trying to calm markets during the pandemic.   

 

Despite the purpose of Fannie Mae and Freddie Mac to ease market disruption, Calabria was trying to limit their effectiveness with the goal of privatizing them.

 

Calabria squandered a tremendous opportunity to create market liquidity and substantially reduce risk.  But he did the opposite.  His actions tightened credit.  Pouring salt into the wound, he added nonsensical adverse market fees.  These fees were applied to 70% of refinances, excluding jumbo loans.

 

Calabria was neither a friend to the housing industry nor the consumer.

 

THE SCOTUS RULING PERMITS CALABRIA'S OUSTER

The Collins v. Yellin Supreme Court decision eliminates the removal "for cause" restriction and found the FHFA structure violated the Separation of Powers between the executive and legislative branches.

 

Jun 23, 2021 09:50 PM
Rainmaker
555,504
Jason E. Gordon
AmeriFirst Financial Inc, San Diego, CA - San Diego, CA
Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE

Long overdue! Calabria's extortion efforts of Borrower's hard earned dollars with the 0.500 adverse market fee should've been the final dagger last year! I think David Stevens would be a perfect replacement.

Jun 23, 2021 08:03 PM
Rainer
149,276
Ken Jones, Commercial Real Estate
Kenneth J. Jones, Inc. - Toms River, NJ
Serving Central & Northern New Jersey Since 1971

Caroline Gerardo 

Jun 23, 2021 05:13 PM
Rainmaker
4,165,209
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Sounds like politics at work again. Not great results so far, but let's not rush to judgment. Time will tell.

Jun 24, 2021 04:18 AM
Rainmaker
874,676
Peter Mohylsky. Broker -BRIX REALTY
Miramar Beach, Florida - Santa Rosa Beach, FL
BRIX REALTY -DESTIN

This will be an interesting topic to follow. Glad for all the different opinions.

Jun 24, 2021 03:45 AM
Rainmaker
5,534,113
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Caroline,

Thank you for letting us know.  Frankly, I am not savvy on this subject, and hopefully the best person for the job is appointed.  A

Jun 23, 2021 09:29 PM
Rainmaker
1,216,230
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

I vote for Jason E. Gordon 

Jun 23, 2021 06:32 PM
Rainmaker
1,716,506
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

I don't know anything about the consequences of Mark Calabria's firing.  Regarding Harrison Ford, I have no interest in that whatsoever. 

Jun 23, 2021 05:41 PM
Rainmaker
379,012
Joseph Domino 480-390-6011
HomeSmart - Scottsdale, AZ
Real Estate Made Easy

Yes this is big news with down the road implications. Yes, pictures of a movie star will get you more hits.

Jun 23, 2021 04:28 PM
Ambassador
3,038,426
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Parked and Reading

Thank you for bringing this to the AR platform for discussion. 

Jun 24, 2021 07:05 AM
Ambassador
2,584,507
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Careless decisions already made so far this year will adversely affect so many aspects of our industry and beyond! 

Jun 23, 2021 06:20 PM
Ambassador
5,365,319
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

I would suggest asking someone more knowledgeable like Caroline Gerardo a question like this one, I have not a clue.

Jun 23, 2021 06:16 PM
Ambassador
3,260,080
Anna Banana Kruchten CRS, CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Yes I heard this on the biz news this morning and also heard the stock dropped like a rock.  We'll see where it all goes....like everything else these days.

Jun 24, 2021 03:25 PM
Rainmaker
897,345
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

The new administration is replacing a lot of bureaucrats from the past administration.

Jun 23, 2021 08:03 PM
Rainmaker
6,550,594
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I have not been following this issue.

Jun 24, 2021 04:51 PM
Rainmaker
883,137
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

This firing is about POWER only and nothing to do with the financial markes in the USA. All 'non-woks' will be looking for new jobs.
I wait for the decree to remove the name of the former president from all monuments, oblisks, documents, books and records. Just like the last elected leader of china, he will no longer exist in any national records.
I place my bet on his replacement will create a whole new set of encrouchments on those engaged in free enterprise.

Jun 24, 2021 05:32 AM