By Deby Morrow and Sydney Sullivan
2016 Five Star Institute’s “Housing Government” Forum in Washington, DC Without a Single “Housing” Representative (i.e., a homeowner) in Attendance. Whoa, Congress – right under your nose!
The forum is a daylong event where leaders in both servicing and federal government come together to engage in honest and open dialogue about the industry’s most pressing issues and challenges affecting both your business and the entire housing economy… Without a single homeowner representative on the Agenda.
The seventh annual Five Star Government Forum is an exclusive, day-long engagement where leaders in both servicing and government come together to engage in honest and open dialogue about the industry’s most pressing issues and challenges affecting both your business and the entire housing economy.
One of the Homeowners SuperPAC directors for the East Coast called The Five Star Institute and inquired if there were any delegated representatives of actual ‘homeowners’ invited or even attending this so-called “Government Forum” and the response was “No”. They [homeowner] could, of course, purchase a ticket and attend . . . Maybe we all should??? Wouldn’t that be an interesting surprise?!
When pressed about if they [Five Star] felt it was important to have a mouthpiece for the American homeowner whose ‘government’ was attending – Five Star was totally indifferent to the notion, as if the attendance by a ‘homeowner’ was meaningless and banal – what would be the point . . . in essence what would they [homeowners] possibly have to say or contribute to the forum?
Well, how about their contribution to the forum? Could and should it be the centerpiece of the forum – especially, given this lingering depression in our economy? Since it was our collateral that is literally funding events like these – should we not be there, too?!
When asked approximately how many attended the last forum by Five Star they stated about 250 which means $450-$500 per attendee is plus or minus >$100,000.00 this entity made off the plight of the housing crisis and look who the ‘sponsors’ are: MERS, Safeguard, Clayton, those that benefit from homeowner’s losing their housing – if the ‘government’ is to appear then the ‘governed’ need to be present as well – BECAUSE it is our collateral that is being bandied about.
Otherwise, to allow these entities to gain financially – again – at the expense of homeowners with the ticket entry wherein government entities likes FHA, Ginnie Mae, etc. are attending to discuss the plight of those who are not in attendance and not represented is appalling to say the least. Before our government can or should attend these so-called forums which do nothing but advance the circumstances of those responsible for the homeowners plight (sort of like holding a conference on how to bury live bodies and make money without the public catching on) . . . our government entities should not participate in these financially gainful forums unless equally represented by those who do now and will continue to be victimized by those holding, speaking to and attending the forum. To name just a few:
You have to read each of the speakers’ bio descriptions. No, really – if there was any doubt the mortgage industry was structured for the purpose of default and foreclosure – rest assured it appears it still is…These speakers do not and cannot speak for us; we can and need to be speaking up for ourselves. These brutal governmental-like agencies do not speak for us – they are in bed with (if not the makers of) the overall scheme to deprive homeowners. Our interests need to be heard because it doesn’t appear they are being protected at this forum. Securitization is a wild, out of control roller-coaster ride that needs to be shut down for repairs and a complete overhaul.
Those attending on behalf of the ‘government’ should first require a fair and impartial representation by those who are the subject of the forum itself – the homeowners.These speakers should be demanding homeowner representation, but they don’t want us there. We are a thorn in their sides – we fight the foreclosures, costing them money, and tell the courts the truth about their corrupt scheme. Wouldn’t it be interesting to meet some of these folks face-to-face? Maybe check ’em out for a deposition?
Andrew Bon Salle, for example, “is Fannie Mae’s Executive Vice President – Single-Family Business, which is a leading source of liquidity in the U.S. residential housing market. Reporting to the President and Chief Executive Officer, Mr. Bon Salle is responsible for all aspects of the Single-Family business, including engagement with Single-Family customers, managing the performance of the credit portfolio, and overseeing all Single-Family capital markets activities.” Someone needs to tell Bon Salle that mortgages were not intended to be “liquid.” Liquidity, in the sense that Bon Salle appears to be viewing it, is like-kind to foreclosure, churn and burn – how else would the mortgage performance of a “credit portfolio” [investor] be liquid??? Take away the terminology of “liquidity” and replace it with “long term investment” and see how many investors jump ship because its not risky enough. And who keeps it risky? ‘No, you can’t have a modification, after we told you to stop making payments in order to apply for HAMP, because the rating agency said the investor securitized trust has filled all of its modification slots.’ Yeah, sure.
TO REGISTER – CLICK HERE