Real Estate Appraiser's Association - Sacramento Chapter  

Marc Savitt speaks to REAA members after the meeting.

Marc Savitt, of the National Association of Independent Housing Professionals, spoke to the June meeting of the Sacramento Chapter of REAA.

Mr Savitt, formerly president of the National Association of Mortgage Brokers and with nearly 30 years in the mortgage industry, has made it his mission to overturn the HVCC. He has spoken to groups around the country, appeared on television in many Fox news business stories and testified to Congress on the problems with the HVCC.

Mr Savitt, along with Frank Garay and Brian Stevens of TBWS, has met with Andrew Cuomo's office, and he has personally met with legislators and regulators, outlining the damage HVCC is doing to small businesses and to consumers. He shared his insight on the origins, political and economic, of the HVCC with REAA members. Mr Savitt contends that all is not lost--that proposed legislation, to be voted on this summer, will eliminate the HVCC.

More on Marc Savitt and the National Association of Independent Housing Professionals is available at NAIHP.org.


Steve Palubinskas, appraiser in Mill Valley and member of the North Bay Chapter of REAA, spoke to the Sacramento mtg. on May 11.


"Securitization and the Secondary Markets: The Bailout," presented the causes, history and implications of the mortgage meltdown. Steve detailed the problems with mortgage-backed securities, credit default swaps and collateralized debt obligations and the ponzi scheme which resulted from abuse of the financial system.Steve explained how the bailout "saved" the market but at the cost of converting private debt (bad mortgages) to public debt (A 30% rise in US national debt since 2008.)
Although unemployment and tight credit markets are still in place, Steve sees some signs of recovery, such as stronger investor interest in mortgages. "I'm more
optomistic in 2010," said Steve, "than I was in 2009."

 

Tues. Sep. 14th., 2010. (Class Flyer)

Round Table Education

(2 hours CE Credit )

Pre-registration is open until 9/12/10.

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